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2021-04-05-accounts

Page
Report ofthe Trustees 1 lo 3
Report ofthe Independent Auditors 4 to 5
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements 8 to 13

W/p for the Year En ded 5th April 2021
2021 2020
Unrestricted Endowment Total Total
funds fund funds funds
Notes 8 E 8
Income and endowments from
Investment
income		 2 118,705 118,705 131,646
Expenditure
on
Raising funds 15,119 15,119 410
Charitable
activities
Grants payable 48,723 48,723 118,579
Direct costs 16,858 16,858 21,175
Total 65,581 15,119 80,700 140,164
Nel gains/(losses)
on investments		 583,390 583,390 (489,054)
NET INCOME/(EXPENDITURE) 53,124 568,271 621,395 (497,572)
Reconciliation
offunds
Total funds brought forward 403,684 2,475,291 2,878,975 3,376,547
Total funds carried forward 456,808 3,043,562 3,500,370 2,878,975
Continuing
operations
All income and expenditure has arisen from continuing activities.

W/p 5th A pril 2021
2021 2020
Unrestricted Endowment Total Total
funds fund funds funds
Notes 6 E K
Fixed assets
Investments 9 427,220 3,043,562 3,470,782 2,868,049
Current assets
Debtors 10 6,457 6,457 7,217
Cash at bank 25,566 25,566 6,144
32,023 32,023 13,361
Creditors
Amounts
falling due within one year		 11 (2,435) (2,435) (2,435)
Net current assets 29,588 29,588 10,926
Total assets less current liabilities 456,808 3,043,562 3,500,370 2,878,975
NET ASSETS 456,808 3,043,562 3,500,370 2,878,975
Funds
Unrestricted funds 456,808 403,684
Endowment funds 3,043,562 2,475,291
Totalfunds 3,500,370 2,878,975

//
vestment
income		 for th e Year Ended 5th April 2021
2021
8		 2020f
Income from listed investments
Deposit account interest		 118,703
2		 131,638
8
118,705 131,646
Raising funds
Investment
management		 costs
2021 2020
6 8
Porffolio management 15,119 410
Charitable
activities costs
Grant
funding of
activities Support
Direct (see note costs (see
Grants payable
Direct costs		 Costs
8
14,458		 5)
8
48,723		 note 6)
8
2,400		 Totals
8
48,723
16,858
14,458 48,723 2,400 65,581
Grants payable
2021 2020
Grants payable 48,723 118,579
The total grants paid to institutions during the year was as follows:
2021 2020
8
Atlantic College
Cardiff St David's Rotary
Challenge
Wales
Island Trust
Cardiff Bay Yacht Club
Atlantic Pacific
Barry Yacht Club
Fishguard
Cadets
Pembroke college
St llltyds
Newport Sea Cadets
Tenby Sea Cadets
Mllford Sea Cadets		 2,000
5,000
15,223
4,200
5,000
6,500
4,800
3,000		 2,000
(1,378)
30,000
47,067
2,625
10,000
2,200
1,020
22,135
960
45,723 116,629

The total grants grants paid to individuals during the year was as follows:
2021
6		 2020f
Jacob Hayden 500
Asia Hoile 500 500
Alfie & Max Sewell 950
Iwan Morgan & Aelwyn Roberts 2,500
3,000 1,950
Support costs
Governance
costs
F.
Direct costs 2,400
Support costs, included in the above, are as follows:
2021 2020
Direct Total
costs activities
6 f
Auditors' remuneration 2,400 2,620

Unrestricted Endowment Total
funds fund funds
6 6 6
Income and endowments from
Investment
income		 131,646 131,646
Expenditure
on
Raising funds 410 410
Charitable
activities
Grants payable 118,579 118,579
Direct costs 21,175 21,175
Total 139,754 410 140,164
Net gains/(losses) on investments (489,054) (489,054)
NET INCOMEI(EXPENDITURE) (8,108) (489,464) (497,572)
Reconciliation
of		 funds
Total funds brought forward 411,792 2,964,755 3,376,547
Page 10 continued. ..

8.
~		 omparatives
fo		 r t he sta tement
offinancial
ac		 tivities
-		 continued
Unrestricted Endowment Total
funds
8		 fundf funds
8
Total funds carried forward 403,684 2,475,291 2,878,975
9. Fixed asset investments
Cash and
Listed settlements
investments
8		 pending
f		 Totals
8
Market value
At 6th April 2020 2,532,238 335,811 2,868,049
Additions 542,953 518,098 1,061,051
Disposals (408,641) (639,256) (1,047,897)
Revaluations 589,579 589,579
At 5th April 2021 3,256,129 214,653 3,470,782
Net book value
At 5th April 2021 3,256,129 214,653 3,470,782
At 5th April 2020 2,532,238 335,811 2,868,049
There were nc investment assets outside the UK.
Cost or valuation at 5th April 2021 is represented by:
Cash and
Listed settlements
investments pending Totals
8 8 8
Valuation
in 2021		 3,256,129 214,653 3,470,782
10. Debtors: amounts falling due within one year
2021 2020
8 8
Prepaymenls
and		 accrued income 6,457 7,217
11. Creditors: amounts falling due within one year
2021 2020
8 f
Other creditors 2,435 2,435

Net Transfers
movement between At
At 6.4.20 in funds funds 5.4.21
6 E 6 6
Unrestricted funds
General fund 400,218 53,124 (10,000) 443,342
Tare Reardon Smith designated fund 3,466 10,000 13,466
403,684 53,124 456,808
Endowment funds
Permanent Endowment 2,475,291 568,271 3,043,562
TOTAL FUNDS 2,878,975 621,395 3,500,370
Nei movement in funds, included in the above are as follows:
Incoming Resources Gains and Movement
resources expended losses in funds
6 E K
Unrestricted funds
General
fund		 118,705 (65,581) 53,124
Endowment funds
Permanent Endowment (15,119) 583,390 568,271
TOTAL FUNDS 118,705 (80,700) 583,390 621,395
Com paratives for movement in funds
Net Transfers
movement between At
At 6.4.19 in funds
K		 funds
6		 5.4.20
f
Unrestricted funds
General
fund		 408,326 1,892 (10,000) 400,218
Tare Reardon Smith designated fund 3,466 (10,000) 10,000 3,466
411,792 (8,108) 403,684
Endowment funds
Permanent Endowment 2,964,755 (489,464) 2,475,291
TOTAL FUNDS 3,376,547 (497,572) 2,878,975

Comparative net movement
in f		 unds, includ ed
in the above are		 as follows:
Incoming Resources Gains and Movement
resources expended losses in funds
6 6 6
Unrestricted funds
General
fund		 131,646 (129,754) 1,892
Tare Reardon Smith designated fund (10,000) (10,000)
131,646 (139,754) (8,108)
Endowment funds
Permanent Endowment (410) (489,054) (489,464)
TOTAL FUNDS 131,646 (140,164) (489,054) (497,572)