ARMY SAILING ASSOCIATION
ARMY
Trustees, Annual Report
and Financial Statement
for the period 6 Apr 22- 5 Apr 23
SAIUNG
Reference and Administrative Information:
Charity Name: Army Sailing Association (ASA)
Principle Address:
ASA
McKenzie Building
Fox Lines
Queens Lines
Aldershot
Hampshire
GU112LB
Charity Commission registered number: 1152679
Names of the Trustees who manage the Charity..
From
Name
Retd
N D Sexton CB
Bri
adler A Reill OBE
Bri
adler
Retd
N Nottin
ham OBE
Bri
adler
Retd
A Jackson CBE
Col
Retd
D Mcculloch
Col N Wilson
Lt Col AJ Fairs
Mr J Stevens
C I S Horsfield
C IHJones
1Feb23
Structure, Governance and Management
The Army Sailing Association became a Charitable Incorporated Organisation (CIO)
from 01 Nov 13, governed by an amended Constitution dated 17 May 2013. The
Constitution is supplemented by Rules and Bye-Laws that aid the management and
conduct of the charity. The ASA has a management plan that is updated annually and
approved by both the Trustees and Executive committee in Feb each year.
As stated in the Rules and Byelaws Para 4.6, the appointment of Admiral of the
ASA is approved by the Flag Officers. The Commodore and other Flag Officers shall be
proposed by the Admiral and approved by the Executive Committee.
As senior serving officers, some of the trustees have held ex-officio appointments
as managing trustees of charitable funds. The Army offers regular courses and briefings
Page1 of5

on the role, duties and responsibilities of trustees and Charity Commision guidance is
amplified in the Army's Service Fund Regulations.
Charity Object
The promotion of efficiency of the Armed Forces of the Crown by the provision and
support of facilities and activities for the efficiency and well-being of personnel.
The Charity achieves its object in the following manner:
By encouraging sailing, including racing, amongst all ranks in the Army. In
doing this, the ASA is accountable in two directions,. it represents the interests of
the membership of the Association and, also, it is appointed by the Army Board
(through Army Sport) as the authority, advisor and co-ordinator for all sailing
matters in the Army. In all matters the ASA shall seek to achieve a correct balance
between the interests of its individual members. its constituent clubs and also
between the needs of recreational sailing, competitive sport and sail training.
By assisting Theatres and Commands in the establishment. maintenance
and supervision, where appropriate, of Army sailing clubs world-wide.
By laying down and maintaining up-to-date regulations governing safety,
coaching. competition rules and sailing qualifications.
By advising the Army Board on the best use of monies that become available
to support Army Sailing.
By acting as a common voice for Army sailing in relationship to the
Association of Service Yacht Clubs, the other Services, the MOD and the Royal
Yachting Association as the national goveming body for sailing. In particular, the
ASA coordinates and administers the RYA National Training Schemes for sailing in
the Army.
Summary of main achievements of the Charity during the year (2022-2023}
The 2022 season was the first full competitive and training year after the pandemic
restrictions meaning uptake in activities was high but not quite at pre-pandemic levels. The
ASA'S inshore training centre delivered formal training and multi activity periods to
approximately 1200 service personnel, with offshore training delivered to around 100. The
Army and Inter Service competition calendar retruned to normal. The offshore racing yacht
took part in the RORC Series, finsihing as the the first fully crewed vessel in the Round
Britain and Ireland Race. The team was narrowly beaten into second place at the Services
Offshore Regatta by the Royal Navy. Again the dinghty team took part in the 2000 Class
National competition with eight boats, hosted the Inter Service Gold Cup competilion in
September and delivered an Army Female Single Handed competition as well. Wind and
Kitesurfing competition featured training and devleopment at the Army Inshore Sail
Training Centre as well as competition there and in Anglesey. The windsurfing team
competed in an ovesreas endurance windsurfing competition in France, commendably
finishing mid table in a field of over 300 riders.
The ASA received £1.5mn in grants from the Nuffield Trust for the Amed Forces of
the Crown and the Army Sport Charitable Fund to execute the project to relocate the ASA
Page2of5

Offshore Sailing Centre to the Grade11 listed Old Police Barracks. This sees the start of a
new partnership with Hornet Services Sailing Club thal will also relocate the ASA,
Regimental and Corps yacht club vessels to new berths, creating an enhanced offshore
centre of excellen￿ alongside the MOD'S Joint Services Adventurous Sail Training Centre
The relocation project saw some initial delays, principally in planning permission and
foundation work, but it will fully complete at the end of August 2023. The office and
classroom complex will be occupied from May. Alongside the offshore project the ASA still
plans a further two phases,. to enhance workshops, stores, accomodation and install a
floating pontoon at the inshore ￿ntre and then to return to the offshore centre to create
hard stores and possibly accommodation in the Guardhouse opposite the new office
building. The whole project is planned to be complete by 2025126 with the final part still
subject to funding.
12.
The Trustees reviewed membership and affilaitions in January 2023 and will
execute those changes in summer 2023 for affilaitions and from January 2024 for
memberships. The full financial impact of these changes cannot be fully assessed until
summer 2024.
13.
The Trustees are still closely focused on keeping the ASA finances by balancing
ambition and output with available funds so that delivery on the object can be met.
Participation levels in the serving Army community are expected to fluctuate in 2023 with
an Army committed to extensive operations and training. Army Sport has recognised the
complexities of the ASA'S operations and have agreed an uplifted operating grant for
2023124 in order to smooth the as yet unknown impact of running the new offshore centre
alongside additional staff required to deliver there and at the inshore centre. The autumn
2023 steering group meeting will analyse the financial picture in detail detailed in order to
enable future plans to be set.
Financial Review
14.
The ASA receives membership subscriptions from members and affiliation fees
from local (Regimental and regionall sailing clubs. This is supplemented by investment
income, profit from the sale of ASA and RYA items as well as training course fees.
Funding from income is made available to the training centres and to each competitive
discipline against management plans to promote activities in that discipline.
The ASA also receives an operating grant for the Army's competitive teams from
the Army Sport Charitable Fund as well as grants from the Army Central Fund and the
Nuffield Trusl for the Armed Forces of the Crown for specific projects. Sponsorship has
been raised through the Army Sport's sponsorship partner and continues to provide
valuable income.
16.
The ASA finances remain positive though increasing costs, particularly in energy.
have been keenly felt. Capital property value has been adjusted to take into account
revised equipment and building values. There is a much more proactive approach to
funding, especially in the training centres. The financial plan for the next five years delivers
against the Objects of the Charity and reflects the ongoing viability of the ASA.
Page3of5

Future Plans
17.
The ASA produces a rolling management and financial plan. This enables the
Trustees to articulate a long term strategy, direct 5 year development objectives and set
management tasks for the Flag Offi￿rS in the coming year. It includes an annual
development and management action plan, individual sailing plans and the ASA finanical
plan to ensure that the stategy's objectives are matched by activities and resources. The
ASA continues to help improve the inshore and offshore sailing opportunities for those
based in the north of Great Britain and in Northern Ireland.
Financial Reserves Policy
18.
The seasonal nature of sailing activities and the cyclic nature of grant funding
requires the ASA to maintain a reasonable level of financial reserves to maintain cash flow
and support ongoing activities. Immediate cash requirements are held on deposit, with
funds not immediately required but planned for future asset purchase, placed into
investments.
19.
The ASA holds reserves to mitigate for any potential reduced income from the Army
Sport for its operating grant, loss of sponsorship revenue and significant unplanned
infrastructure or equipment costs. The reserve also enables the ASA to balance the
longer-term risks of the rising operating costs and income generation from course fees for
the AISTC and AOSC.
Investment Selection Policy
20.
The trustees take a risk-averse view towards investments. Money is invested in the
Common Investment Fund (CIF) and it is assessed that this is an appropriate means of
maintaining both the worth of the investment and income to support activities and meets
the requirements of Service Fund Regulations, The Trustees Act 2000 and the Charities
Act 1993.
Public Benefit Statement
21.
The ASA provides public benefit by assisting service personnel to more effectively
perform their roles within the Armed Forces of the Crown. It does this by providing and
supporting sporting activities and enabling sail training for both wellbiing, personal
development and as a pthway to competitive sport. This enables service personnel to face
the challenges and danger associated with military service by developing and maintaining
teamwork, skills, fitness, confidence, character, spirit, attitude, and morale. As a result, the
fund promotes the efficiency of the Armed Forces of the Crown by enhancing the British
Army's capability to undertake the roles demanded of it including the defence of the United
Kingdom and its interests.
22.
We confirm that we have paid due regard to the Charity Commission of England
Wales's guidance on public benefit when deciding what activities the charity should
undertake.
Page4of5

23.
The Trustees declare that they have approved the trustees, report above.
Signed on behalf of the charity's trustees
A P REILLY OBE
Brig
Commodore
Enclosures..
Balance Sheet
SOFA Report
Independent Examiners Report
Page5of5

CC Balance Sheet as at 31 Mar 23
Charity No: 1152679
Army Sailing Association
Total Funds
Prior year Funds
Fixed assets
Intangible assets
Tangible assets
Heritage assets
Investments
Total fixed assets
£0
£2,396,785
£0
£98257
£2.495,042
£0
£2,259,039
£0
£109,628
£2.368.687
Current assets
Stocks
Debtors
Investments
Cash al bank and in hand
Total current assets
£4217
£44251
£0
£389,378
£437,846
£6,814
£2,935
£0
£174,621
£184.371
Creditors.. amounts falling due within one year
£78467
£63,199
Total assets less current liabilities
£2.854,421
£2.489.839
Funds of the charity:
Endowment funds
Restricted income funds
Unreslricled funds
Revaluation reserve
£0
£187102
£2.667,319
£0
£0
£0
£2,489,839
£0
Total charity funds
£2.854,421
£2.489.839
Page1of11

Balance Sheet Report as at 31 Mar 23
Charity No: 1152679
Army Sailing Association
Total Funds
Prior year Funds
Fixed assets
8uildings
Yachts & Boats
Fixtures & Fittings
Investments
Total fixed assets
£1,531,064
£763,721
£102,000
£98257
£2.495,042
£1,530,000
£677,933
£51,106
£109,628
£2.368.687
Current assets
Stock- RYA IP&CI
Stock- ASA Shop
Debtors
ASA Current Bank Account
ASA Clearing Bank Account
ASA Deposit Account
AISTC Cash & Bank
Total current assets
£229
£3987
£44,251
£2,000
£500
£382,880
£3,998
£437,845
£117
£6,697
£2,935
£2,020
£500
£167.234
£4,868
£184.372
Creditors.. amounts falling due within one year
£78,467
£63,200
Total assets less current liabilitlgs
£2,854.420
£2.489,839
Funds of the ¢harlty:
AISTC
British Soldier
Dinghies
General (UnreslricledlGPFI
HRF
IHRF
InfraslruclurelDevelopmenl
Kite Surfing
Offshore
Windsurfing
Retained Surplus
Grebe
Victor
Total charity funds
46. 503
40,326
1,376
£2,667,319
£33,266
£16,115
£228,066
318
£1.735
£1,221
48.438
1,833
£3,776
£562,712
£33,267
£19.820
£24.027
£2.429
1.371
£2.797
£1,892,652
2980
1.799
£2.854,420
£2.489.839
Page2of11

Charity Commission SOFA Report as at 31 March 2023
Charity No- 1152679
Army Sailing Association
Unrestrlcted
Funds
Restricted
Income
Funds
Endowment
Funds
Total
Funds
Prior
Year
Funds
Income and endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Separate material item of income
Other
Total
105,673
3,564
45,620
5.593
1,220,687
153,920
1,326,360
157,484
45,620
5,593
357,527
336,078
72,242
4,524
1497
1.376,104
1,497
1.536.554
62,559
832.930
160,450
Expendlture on..
Raising funds
Charitable activities
Separate material item of expense
Other
Totsl
9,703
52,570
977,951
219,324
987,654
271,894
29,678
664,827
62,273
1,197,275
1,259,548
694,505
Nel incomellexpenditurel before investment
gainslllossesl
Net gainslllossesl on investments
Extraordinary items
Transfers between funds
G2ins/llossesl on revaluation of f ixed
assets
98,177
178,829
277,006
138,425
-11,371
-11,371
Net Movement in Funds
86,806
178,829
265,635
609,211
Total funds brought forward
Total funds carried forward
2,412,725
2,667,319
77,114
265,570
2,489,839
2,932,889
Page3of11

Notes to the accounts:
Principal Accounting Policies
Accounting Convention. The financial statements are prepared under the
historical cost convention as modified by the inclusion of investments at market
value and in accordance with applicable accounting standards. In preparing the
financial statements the charity follows best practice as set out in the 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}.
Incoming Resources. Income is recognised in the period in which the
charity is entitled to receipt, and the amount can be measured reasonable certainty-
Grants from other agencies including donations and other income from activities are
in furtherance of the charity's objects and are part of the general funds of the grant
or donor.
Intangible Income. Due to the close collaborative relationship and the
manner in which the charity's activities compliment those of the Army, intangible
income, reflected in time and use of premises is not quantifiable or measurable and
so is not recognised in the accounts.
Resources Expended and Basis of Allocation of costs. Expenditure is
included when incurred or exceptionally where a commitment is made which
requires an accrual when payment is to be made in the subsequent accounting
period. Similarly, where prepayments are made in the recognition of commitments
falling due in a subsequent accounting period, the appropriate credit is entered in
the accounts and reversed the following year. Grant payments are included in the
SOFA when approved by the Trustees. Expenditure is recognised in the period in
which it is incurred. The majority of costs are directly attributable to specific
activities. Irrecoverable VAT is charged to the annual report and accounts.
Governance Costs. Governance costs are the costs of professional advice,
holding trustee meetings or committee meetings associated with decision making,
any fee for audit or independent examination and any fee incurred in the
preparation, statutory filing, printing or copying of the annual report and accounts.
Capitalisation and Depreciation of Tangible Fixed Assets. All assets
having a purchase value of more than £500 are capitalised. The cost of tangible
fixed assets are written off by equal annual instalments over their expected useful
lives using the following methods of depreciation-
Buildings
Straight line over a period of 25 years
Furniture. fixtures and equipment Straight line over a period of 2 - 10 years
Page4of11

Yachts and boats
Straight line over a period of 2 - 10 years
Assets with a life of more than one year but with a purchase value of below £500
are included within the inventory but the cost is written off in the year it is incurred
and is not depreciated over the useful life of the asset.
Fixed Asset Investment. Fixed asset investments are included at market
value at the balance sheet date. Any gain or loss on revalualion is shown in the
SOFA.
Stocks. Purchased stocks are valued at the lower cost or net realisable
value making due allowance for any obsolete or slow-moving items.
Funds Accounting. Funds held by the charity are..
(1) General PurposelUnrestrictedlDesignated Funds. These are
funds that can be used in accordance with the charitable objects at the
discretion of the Trustees. Designated funds are unrestricted funds which
have been allocatedlearmarked for a particular purpose by the Trustees and
are declared in the Trustees, comments in accordance with Paragraph 12 to
these notes stating what they are intended to be used for and when.
(2}
Endowment Funds. Endowment funds are those investments and
other gifts accepted by the unit, the capital sum or property being held in
perpetuity and the income only being available for charitable use. The ASA
currently has no endowment funds.
(3)
Restricted Funds. These are funds that 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 accounts.
Heritage Assets. In the course of the ASA'S history, Ihe charity may have
acquired gifts, memorabilia, regalia, silverware, antiques and other historical
artefacts in the course of distinguished military service of the Crown. The value of
these pieces is in large part derived from their close association with Army history
which precludes the use of conventional valuation techniques being applied. Whilst
the objects of the charity do not specifically include preservation and conservation,
the pieces represent an essential element of celebraling the ASA'S history and
foster esprit4e-corps. Consequently the Trustees consider the charity to hold
heritage assets both for functional use and as an element of national history on
behalf of the nation. Heritage assets acquired prior to 1 Apr 06 are therefore not
capitalised on the balance sheet but a description of those are recorded within the
ASA property book. No heritage assets have been acquired since 1 Apr 06.
Page5of11

Other Costs. Other costs are those costs not incurred in the undertaking of
charitable activity in furtherance of the objects of the charity, i.e. the provision of
facilities, recreational programmes or activities in furtherance of military efficiency.
They are also costs incurred in the making of grants and donations, in the costs of
generating funds, i.e. the costs incurred in trading or fundraising undertaken by the
charity. or in governance costs.
Grants Made. The charity has not made any grants or donations during the year.
Related Party Transactions & Remuneration and Expenses. Whilst the charity
has a close working relationship with the Army, there are no transactions with the Army
which require disclosure. The only transactions made by the charity in favour of the ASA
are wholly attributable to the charitable activities of furthering military efficiency. The
Trustees are senior Army officers or have other relevant experience and fulfil their role as
trustees in accordance with the applicable laws and regulations. No expenses have been
paid to the trustees.
Analysis of Capital Property.
Buildings
Fixtures,
fittings &
ment
£51,106
£58,644
£7,750
Yachts &
Boats
Total
Balance blf
Purchases
Sales
De
reciation
Balance clf
£1.530,000
£1,064
£677,933
£87,139
£1,351
£2,259,039
£146,847
£9,101
£1,531,064
£102,000
£763,721
£2.396,785
Total Value of Investments by Category.
Value
£109,628
Car
value
markel value at be
innin
of
ear
Add additional to investments at cost
investments
Less dis
osals at car
value
investments sold
Addl(deduct} net gainl(loss) on revaluation {gainlloss at end of
accountin
eriodlaudit
Car
value
market value
urchased
-£11,371
at end of
ear
£98,257.11
The Investments are held in unit trusts or other collective investments schemes and are
categorised as GPFlunrestricted investments.
List of Debtors.
Debtor
Arm
Tr
Blendworth T
ASCB
Date of Debt
01103122
01103122
13106122
Amount
Arm
res
£2,300.00
£91.20
£500.00
Page6of11

True Colours
Premier Marina, Gos
Cobnor
Placuna Facilities
ASCB Welfare Grant
Simon Horsfield
James Bashall
True Colours
23106122
07107122
06110122
12110122
31110122
15111122
19101123
08102123
£46.20
£93.39
£660.00
£640.00
£18,159.36
£180.00
£100.00
£59.76
ort
Fi I
Various
Surf lus
Will Na
lor
Laedal Medical
ASA NI
Phil Brown
Total
10102123
21102123
03103123
21103123
21103123
30103123
£74.20
£20,010.23
£142.00
£495.12
£500.00
£200.00
£44,251.46
List of Creditors.
Creditor
ASCB
Colin Brown
Date of Credit
Various
Amount
es
£78,207.00
£260.00
Total
£78,467.00
Paid Employees. The ASA has no paid employees.
Governance Costs. There are no governance costs this year, until Paxton
Independent Examiners have completed an independent examination of the accounts.
10.
Restricted Funds. The ASA has four Restricted funds..
The Offshore Hull Replacement (OHR) Fund
The Inshore Hull Repla￿ment (IHR) Fund.
Grebe Fund.
Victor Fund.
The sums in OHR and IHR funds represents proceeds from Ihe sale of yachts, dinghies
and windsurfers previously part-funded by grants from Nuffield Trust, ACF and other
sources. and may only be used to assist in the funding of future replacement craft
purchases. The funds set up for Victor and Grebe are funding through membership
charter and training. Movements of the individual funds as summarised in the restricted
column of the SOFA are as follows:
Fund
Name
Fund Bal
blf
Incoming
resources
for
eriod
0.00
21,634.00
£6,658.25
Outgoing
resources
for
eriod
Transfers
Gains and
losses
Fund Bal
clf
OHR
IHR
Grebe
£33,267
£19,820
0.00
0.00
0.00
0.00
0.00
-£3704.67
-£2979.98
£33,267.00
£16,115.33
-£2,979.98
£25,338.67
£9,628.93
Page7of11

Victor
0.00
£100.00
£1,899.75
0.00
-£1,799.75
-£1,799.75
Heritage Assets. Heritage Assets that are owned by the charity but
purchasedlacquired prior to 1 Apr 06 are not included in the charity's capital property
value. A listldescription of these assets is held by the ASA secretary and predominantly
comprises cups and other trophies.
12.
Declarations.
All of the charity's commitments are provided for in the accounts.
No guarantees have been given to third parlies.
The charity has not received any loans that are outstanding at the year-end and secured
on assets.
The charity has not granted any loans to institutions or companies connected with the
charity.
The charity did not make any ex-gratia payments during the year.
Sufficient resources are held in an appropriate fomi to enable each fund to be applied in
accordance with the restrictions imposed.
The financial activities, assets and liabilities of all the charity's branches or sections have
been included.
The Trustees have changed the year end date or the length of the charity's financial year.
The ASA operates seven designated funds to enable better management and control of
the ongoing activities of the charity's object. These are..
Dinghy fund
To promote and develop dinghy sailing and racing.
Offshore fund
To promote and develop offshore sailing and racing,
including the Army Offshore Sailing Centre
British Soldier
To run the Army racing yacht.
Windsurfing
To promote and develop windsurfing.
Kitesurfing
To promote and develop kitesurfing.
Army Inshore Sail Training Centre (South) at Thorney Island to manage
the inshore sailing centre.
AOSC Infrastructure. To manage the re-development of the AOSC.
All the charity's operations are continuing operations and there were not operations
discounted or acquired during the year.
The charity has no intangible assets.
There were not inter-fund loans outstanding at the balance sheet date.
Page8of11

The charity has no subsidiary companies.
The charity has no material fixed assets which have not been capitalised and included in
the balance sheet.
No internal transfers have occurred out of restricted funds, other than using funds in the
hull rep1a￿rnent funds to assist in the purchase of new assets, wilh the prior agreement of
the original donors of these funds.
All investments are held in investment assets in the UK unless otherwise stated.
These accounts were approved by the Trustees on 26th October 2023 and signed on their
behalf by=
7oy 7rt¢ed
A P REILLY OBE
Brig
Commodore
AJ Fairs
Lt Col
Treasurer
Page9of11

(HARITY COMMISSION
FOR ENGLAND AND WALES
Independent examiner's report on the
accounts
Sectlon A
Independent Examlner's Report
Report to the trusteesl
members of
Army Sailing Association
On accounts for the year
ended
31 March 2023
Charlty no
1152679
I report to the trustees on my examination of the accounts of the above charity
I'the Trust'l for the period ended 3110312023.
As the charity's trustees, you are responsible for the preparation of the accounts in
accordance with the requirements of the Charities Act 20111"the Act").
Responsibilities and basis of
report
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 Direttions given by the Charity Commission under section 14515llbl
of the Act.
Independent The charity's gross income exceeded £250,000 and l am qualified to undertake the
examiner's statement examination by being a qualified member of the association of accounting
technicians.
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 IAccounts 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.
SIEned:
Darren Warren
Date:
2910512025
Page10of11

Name:
Darren Warren- Paxton Independent Examiners
Relevant professional
qualification:
FMAAT
Address:
61 a High Street South
Rushden
Northants, NN10 ORA
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).
None
Page 11 of11