RNAS CULDROSE
CENTRAL AMENITIES FUND
ANNUAL REPORT AND FINANCIAL STATEMENTS
For Period
1 May 2023 to 30 April 2024
Registered Charity No. 1154674
Trustees’ Annual Report and Comments
Central Amenities Fund RNAS Culdrose
| Charity Registered No: | 1154674 |
|---|---|
| Covering the Accounting Year: | 1 May 2023 to 30 April 2024 |
| Address: | HMS SEAHAWK |
| RNAS Culdrose | |
| Helston | |
| Cornwall TR12 7RH | |
| Governing Document: | Central Amenities Fund Constitution |
| Objects: | The primary aim of the CAF is to promote the welfare and |
| military efficiency of Naval and other Service personnel serving | |
| in HMS Seahawk. This is interpreted as to “improve the well | |
| being (both morale and physical) and efficiency of Establishment | |
| personnel through the provision of services, amenities and | |
| activities that are not within the remit of Crown or employer | |
| requirements”. | |
| Trustee: | Captain S Irwin Royal Navy. |
| Trustee selection method: | Appointed as such by the Naval Secretary. |
| Bankers: | The Co-Op Bank |
| PO Box 250 | |
| Delf House | |
| Southway | |
| Skelmersdale WN8 6WT | |
| Independent Examiner: | M L ButcherFMAAT |
| 5 Nursery Road | |
| Havant | |
| Hants PO9 3BG | |
| Activities and Achievements: | To have resources available for expenditure on improvements to |
| the quality of life, and the engenderment of esprit de corps. The | |
| fund continues to meet its objectives by the provision of leisure | |
| and sporting amenities. Numerous grants have been made to | |
| individuals for sporting and adventurous training activities. The | |
| fund continues to act as a central bank and support for many | |
| charitable and non charitable funds operating in RNAS Culdrose. | |
| Financial Review: | The fund had increased by £47.8K in the operating costs and had |
| gained £30.9K in unrealised investments. This made a net gain of | |
| £78.7K over the year and the fund had a value of £570.8K at year | |
| end. The main reasons for the increase were due to: - | |
| • The windfall gainshare of £104.6K. | |
| • Unrealised gain on the value of investments of £30.9K. | |
| • Dividend and Interest income of £15.4K | |
| Offset by |
-
Time share costs of £25.7K.
-
Grants out totalling £48K.
The investments were valued at £419.2K. The bank, deposit, and cash assets totalled £319.7K but with liabilities to other funds and creditors of £169.5K.
Investment Selection Policy: The investments are managed by Quilter Cheviot Management with the instructions to invest for income rather than growth. Financial Reserves Policy: The Trustee has considered the level of reserves appropriate to the charity’s needs. This is the money held in the investments £419.2K, which also provide a dividend income. In doing so the aim is to ensure that the charity will be able to fulfil its charitable objectives even if there is a temporary shortfall in income and unexpected expenditure. The Trustee will endeavour not to set aside funds unnecessarily. Grant Policy: Grants may be made to Departments or individuals for a wide range of sporting and other leisure activities. Risk Assessment: The Trustee reviews the major risks to which the charity is exposed through the production of an annual Business Plan. Systems have been established to manage the risks and it is believed that the reserves policy will provide sufficient resources in the event of adverse conditions. Quarterly independent examination of the accounts mitigates the risk of any mismanagement by the Management and Grants committees and the reports thereof are seen by the Trustee. Public Benefit Statement: This fund provides public benefit by assisting Service personnel to perform their roles more effectively within the Armed Forces of the Crown. It does this by providing and supporting additional leisure and social activities beyond that supplied by the Crown. This assistance enables personnel to better face the challenges and danger associated with military service by developing and maintaining teamwork, spirit and attitude, and morale. As a result, the fund promotes the efficiency of the Armed Forces by enhancing their capability to undertake the roles demanded of them.
I confirm that I have paid due regard to the Charity Commission of England and Wales’s guidance on public benefit when deciding what activities, the charity should undertake.
Declaration:
I declare, in my capacity of Charity Trustee, that I have approved the above report.
Signature Signed on Original Name Captain S Irwin Royal Navy Appointment Commanding Officer HMS SEAHAWK and Sole Managing Trustee Date 20 June 2024
RNAS CULDROSE CENTRAL AMENITIES FUND
Registered Charity 1154674
BALANCE SHEET
30-Apr-24
| Note Fixed Assets Quilter Cheviot Managed Investments 2 Current Assets Stocks at Cost: 7 Debtors/Prepayments 8 Bank Accounts Savings Cash & Floats Total Current Assets LIABILITIES Creditors 9 Station Funds 10 Holding Accounts 11 Charity Chest Current Liabilities Net Current Assets (Liabilities) Net Assets |
300.00 £ 1,122.00 £ 33,740.82 £ 284,595.62 £ 1,325.59 £ 321,084.03 £ 2,112.00 £ 119,090.26 £ 48,274.07 £ - £ 169,476.33 £ |
419,177.00 £ 388,261.00 £ 300.00 £ 7,619.00 £ 57,075.79 £ 251,123.95 £ 2,172.07 £ 318,290.81 £ 3,795.00 £ 143,353.03 £ 65,592.02 £ 1,771.03 £ 214,511.08 £ 151,607.70 £ 103,779.73 £ 570,784.70 £ 492,040.73 £ 30-Apr-23 |
419,177.00 £ 388,261.00 £ 300.00 £ 7,619.00 £ 57,075.79 £ 251,123.95 £ 2,172.07 £ 318,290.81 £ 3,795.00 £ 143,353.03 £ 65,592.02 £ 1,771.03 £ 214,511.08 £ 151,607.70 £ 103,779.73 £ 570,784.70 £ 492,040.73 £ 30-Apr-23 |
|---|---|---|---|
| 492,040.73 £ |
Approved on 20 June 2024
Signed on Original
Captain S Irwin Royal Navy Sole Managing Trustee
1
CUL-CAF BSApr24Z.xlsBALANCE SHEET
RNAS CULDROSE CENTRAL AMENITIES FUND
STATEMENT OF FINANCIAL ACTIVITIES
For year to 30 Apr 24
| Note Income from Charitable actvities Investment Income Total Income 3 Expenditure Charitable Activities Total Expenditure 4 Movement in Funds Unrealised Gain/Loss on Investments Net Movement in Funds Total Funds Brought Forward Total Funds Carried Forward |
128,036.54 £ 15,544.62 £ 143,581.16 £ 95,753.19 £ 95,753.19 £ 47,827.97 £ 30,916.00 £ 78,743.97 £ 492,040.73 £ 570,784.70 £ |
Previous Year 42,404.19 £ 13,877.67 £ |
|
|---|---|---|---|
| 56,281.86 £ |
|||
| 66,611.51 £ |
|||
| 66,611.51 £ |
|||
| (10,329.65) £ (654.00) £ (10,983.65) £ 503,024.38 £ |
|||
| 492,040.73 £ |
2
CUL-CAF BSApr24Z.xlsSOFAsum
RNAS CULDROSE CENTRAL AMENITIES FUND
Notes to the Accounts dated 30 April 2024
Note 1 - Accounting policies
a. The financial statements are prepared under the historic cost convention (as modified by the revaluation of fixed asset investments) and in accordance with applicable accounting standards: Charities Statement of Recommended Practice, UK Accounting Standards and the Charities Acts.
Income
a. Donations are included in the Statement of Financial Activities (SOFA) when the fund becomes entitled to the donation or grant and it is reasonably certain that it will be received.
-
b. Incoming resources from fund raising are reported gross in the SOFA
-
c. Intangible income is not included in the accounts.
-
d. The fund receives no unpaid volunteer help.
-
e. Interest is included in the accounts when receivable.
Expenditure and Liabilities
a. Liabilities are recognised as soon as there is a legal or constructive obligation committing the fund to the expenditure.
Assets
a. Depreciating fixed assets are capitalised if they can be used for more than one year and cost at least £50. They are valued at cost or a reasonable value on receipt. Depreciation is straight line over the estmated life of the item. Depreciation is not allocated to activity costs as the use is varied.
b. Stocks are valued at the lower of cost or market value.
Note 2 - Investments
Quilter Cheviot Investments
| Brought forward Gain/(Loss) on Revaluation End of Year Note 3 - Income Charitable Activities Tickets & Confectionery Sales HMRC Penalty Refund Fireworks 22 Gainshare - Windfall GR Contact House ER Contact House Caravan Park Family Flat Income Clowance Membership Card Clowance Holiday Absorbed Holding Funds Investment Income Interest from Savings Account Investment Dividends Total Income |
14,168.16 £ - £ - £ 104,560.43 £ - £ - £ 8,200.00 £ 78.00 £ 29.56 £ 5.00 £ 995.39 £ 3,471.67 £ 12,072.95 £ |
30-Apr-24 30-Apr-23 388,261.00 £ 388,915.00 £ 30,916.00 £ (654.00) £ 419,177.00 £ 388,261.00 £ Previous Year 10,648.49 £ 532.65 £ 5,222.20 £ - £ 1,645.00 £ 5,365.00 £ - £ 1,935.00 £ - £ - £ 17,055.85 £ 128,036.54 £ 42,404.19 £ 1,356.83 £ 12,520.84 £ 15,544.62 £ 13,877.67 £ 143,581.16 £ 56,281.86 £ |
|---|---|---|
3
Note 4 - Expenditure
| Charitable Activities Operating Costs SSVC Film Hire SSVC Equip Maintenance Confectionery Purchases Cinema - Wages Cinema - Admin Grants Time Share Time Share Service Charges GR Contact House ER Contact House Caravan Park Fireworks 22 TV Licence Trophy Hire Insurance Family Flat Expenditure Gathering of Reflections Exp Tree Plaques Misc Expenses Governance Costs Examination of Accounts Legal Fees Support Costs Office/Admin Total Expenditure Note 4A - Grants Contact Houses FAA Champs Alcohol Free Drinks Grants Div Days Bike Repair Station Car Club - Ramp Sports Club - Sky Subscription Fireworks 2023 Fireworks 2024 Fete - Family Day 2023 Minor Grants |
4,567.04 £ 3,956.62 £ 42.00 £ 969.60 £ 4,587.60 £ 2,845.94 £ 8,545.87 £ 7,310.39 £ 219.30 £ - £ 47,990.77 £ 4A 28,201.13 £ 25,409.00 £ - £ 267.00 £ - £ - £ 4,466.71 £ - £ 8,250.10 £ 80.00 £ - £ - £ 4,541.42 £ 159.00 £ 200.00 £ 116.64 £ 205.28 £ 921.82 £ 934.41 £ 997.15 £ 145.00 £ - £ 1,225.78 £ - £ 286.80 £ - £ 25.00 £ 1,850.00 £ 1,725.00 £ - £ 1,016.45 £ - £ 305.88 £ 95,753.19 £ 66,611.51 £ 95,753.19 £ 66,611.51 £ 4,000.00 £ 1,000.00 £ 6,000.00 £ 1,502.00 £ 975.00 £ 7,000.00 £ 1,929.60 £ 3,750.00 £ 3,150.00 £ 3,000.00 £ 15,684.17 £ 47,990.77 £ Previous Year |
|---|---|
Note 5 - Paid Employees
-
a. There are no full time paid employees. Wages were paid to part time employees working in the Cinema and LH&CPL's Mess.
-
b. There were no Employers National Insurance costs.
Note 6 - Trustees and Other Related Parties
-
a. No expenses or emoluments have been paid to the Sole Managing Trustee
-
b. There are no amounts due to or from the Sole Managing Trustee
4
CUL-CAF BSApr24Z.xlsSOFAE
| Note 7 - Stocks Confectionery Note 8 - Prepayments, Misc Debtors Timeshare Prepaid Insurance Prepaid Note 9 - Creditors Cinema BFBS Hire Cinema Wages & PAYE Timeshare Annual Service & Maintenance PNIE - Account Examination Note 10 - Held for Other Funds Sports Fund LH & CPLs Mess ATC Officers Fund 1700 Welfare Fund 700X Fund 750 Officers Fund 814 Officers Fund 814 Welfare Fund 820 Officers Fund 820 Welfare Fund 824 Officers Fund 824 Wefare Fund 824 Squadron Enterprises GR Contact House Fund ER Contact House Fund Fishing Club Bee Keeping Fire Station Church Fund Car Club Football Club Gig Rowers Club Gliding Club Golf Club NAC Golf Championship Fund Sailing Fund Model Flying Club Motorcycle Club Plumbers Union Sporting Gun Club Sub Aqua Fund RN&RM Surf Association Club Theatre Club Volunteer Band |
|
|---|---|
| 300.00 £ |
|
| 541.00 £ 581.00 £ |
|
| 1,122.00 £ |
|
| 400.00 £ 545.00 £ 267.00 £ 900.00 £ |
|
| 2,112.00 £ |
|
| 6,406.48 £ 2,373.40 £ 158.76 £ 404.42 £ 576.11 £ 2,291.24 £ 1,326.76 £ 1,583.36 £ 477.95 £ 2,567.54 £ 2,682.65 £ 32.03 £ 23.50 £ 4,905.50 £ 3,572.82 £ 600.00 £ 1,856.45 £ 391.91 £ 4,059.80 £ 3,803.58 £ 396.64 £ 945.34 £ 23,785.55 £ 120.00 £ 11,359.37 £ 8,037.78 £ 370.40 £ 254.76 £ 4,820.65 £ 3,801.51 £ 4,938.03 £ 11,162.41 £ 6,489.34 £ 2,514.22 £ |
|
| 119,090.26 £ |
5
Note 11 - Approved Funds
| Holding - Learning & Skills Holding - Fireworks 23 Holding - Community Centre (CCC) Holding - Merlin Family Day Holding - Aggies Holding - Dog SLA Deposits Holding - RNSFDO Learning Holding - SSAFA Pot Holding - TOTT Fund Holding - Culdrose Childs Holding - AED Social Holding - RNRMC Grants Holding - DOG-O Holding - Miscellaneous |
18,990.50 £ 3,405.23 £ 4,910.14 £ 18.40 £ 2,112.39 £ 123.35 £ 3,775.69 £ 43.14 £ 840.00 £ 12,538.61 £ 12.27 £ 186.26 £ 25.00 £ 1,293.09 £ |
|---|---|
| 48,274.07 £ |
Declarations
-
a. The Trustee has not changed the year end date nor the length of the fund's financial year
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b. All the fund's operations are continuing operations and there were no discontinued operations.
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c. No funds are in deficit.
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d. The fund has no marketable intangible assets
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e. There were no interfund loans outstanding at the balance sheet date.
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f. None of the funds functional assets have been revalued during the year and the fund does not have a policy of revaluation of these assets.
-
g. The fund has no material fixed assets which have not been capitalised and included in the Balance Sheet.
6
Independent Examiner’s Report to the Trustee of the RNAS Culdrose Central Amenities Fund
(Charity Registration No 1154674)
I report to the trustee on my examination of the accounts of the Charity for the year ended 30 April 2024.
Responsibilities and basis report
The charity’s trustee is responsible for the preparation of the accounts. The charity’s trustee considers that an audit is not required for this year under section 144(2) of the Charities Act 2011 (The Charities Act) and that an independent examination is needed.
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination; I confirm that no material matters have come to my attention 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
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The accounts did not accord with the accounting records; or
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The accounts did not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than in 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.
M L Butcher FMAAT 5 Nursery Road Havant Hants PO9 3BG
20 June 2024