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||||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|





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|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<br>income||2||118,705||118,705|131,646|
|Expenditure<br>on||||||||
|Raising funds|||||15,119|15,119|410|
|Charitable<br>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)<br>on investments|||||583,390|583,390|(489,054)|
|NET INCOME/(EXPENDITURE)||||53,124|568,271|621,395|(497,572)|
|Reconciliation<br>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<br>operations||||||||
|All income and expenditure|has arisen|from continuing|activities.|||||





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|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<br>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|





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






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|The total|grants|grants|paid to|individuals|during the year was as follows:|||
|---|---|---|---|---|---|---|---|
|||||||2021<br>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|



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||||||Unrestricted|Endowment|Total|
|---|---|---|---|---|---|---|---|
||||||funds|fund|funds|
||||||6|6|6|
|Income and endowments|||from|||||
|Investment<br>income|||||131,646||131,646|
|Expenditure<br>on||||||||
|Raising funds||||||410|410|
|Charitable<br>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<br>of|funds|||||||
|Total funds brought||forward|||411,792|2,964,755|3,376,547|
|||||Page 10|||continued. ..|





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|8.<br>~|omparatives<br>fo|r t|he sta|tement<br>offinancial<br>ac|tivities<br>-|continued|||
|---|---|---|---|---|---|---|---|---|
|||||||Unrestricted|Endowment|Total|
|||||||funds<br>8|fundf|funds<br>8|
||Total funds carried||forward|||403,684|2,475,291|2,878,975|
|9.|Fixed asset investments||||||||
||||||||Cash and||
|||||||Listed|settlements||
|||||||investments<br>8|pending<br>f|Totals<br>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<br>in 2021|||||3,256,129|214,653|3,470,782|
|10.|Debtors: amounts||falling|due within one year|||||
||||||||2021|2020|
||||||||8|8|
||Prepaymenls<br>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|





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||||||||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<br>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<br>K|funds<br>6|5.4.20<br>f|
|Unrestricted||funds||||||||
|General<br>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|





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|Comparative||net movement<br>in f|unds, includ|ed<br>in the above are|as follows:|||
|---|---|---|---|---|---|---|---|
|||||Incoming|Resources|Gains and|Movement|
|||||resources|expended|losses|in funds|
|||||6||6|6|
|Unrestricted||funds||||||
|General<br>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)|



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