REGISTERED CHARITY NUMBER: 1156555 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 FOR NEWARK CRUSADER CIO
NEWARK CRUSADER CIO INDEX TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 Page General Infomiation Trustees Annual Report Independent Examiners Report Income and Expenditure Account Statement of Assets and Liabilities Notes to the Financial Statements
NEWARK CRUSADER CIO GENERAL INFORMATION FOR THE PERIOD ENDED 31 MARCH 2025 CHARITY NUMBER 1156555 PRINCIPAL ADDRESS J Wilkinson Clo Newark Marina Limited 26 Farndon Road Newark on Trent Nottinghamshire NG24 4SD INDEPENDENT EXAMINERS tcp 1 Crow Hill Drive Mansfield Nollinghamshire NG19 7AE BANKERS Nat West Bank 1 Market Place Newark on Trent Nottinghamshire NG24 1DY Page 1
NEWARK CRUSADER CIO TRUSTEES ANNUAL REPORT FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 Introduction The Trustees present their report and the financial statements of the charity for the period ended 31 March 2025. The trustees have adopted the provisions of the Statement of Recommended Practice (SORPI "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the charity. Charitable Status The Newark Crusader CIO is registered with the Charity Commission under registration number 1156555., its registered address is Clo Newark Marina Ltd 26 Farndon Road, Newark, Nottinghamshire NG24 4SD. Organisation and Structure The day to day management of the boat is carried out by James Wilkinson wtth assistance from Ross Haddow (Administrator) and Andrew Fearn. Stuartcrampton mainlains the accounting records along with the finances of the charity and reports directly to the trustees on a regular basis. Trustees The Trustees during the year and at the yearend were.. James Wilkinson Andrew Fearn All Trustees were appointed under the terms of the Trust Deed. Administrator The administrator's post is held by Ross Haddow. Objectives and Activities The Newark Crusader CIO was registered 07 April 2014. The main object of the charity is to provide or assist in the provision of facilities in the interest of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances, with the object of improving their conditions of life. Financial Activities and Review of the Period There is no major work required on the Crusader. We will continue with general maintenance. Plans for the Future The charity will continue to identify and engage with additional groups that could benefit from the boat's services. Page 2
NEWARK CRUSADER CIO TRUSTEES ANNUAL REPORT FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (CONTINUED) Trustees, Responsibilities The trustees are responsible for preparing the Trustees. Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Acmunting Practi). The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements. the trustees are required to.. select suitable accounting wlicies and then apply them consistently., observe the methods and principles in the Charities SORP 2022 IFRS 102)., make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless it is inappropriate to I that the charity will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position ofthe charity and enable Ihem to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Adopted Policy on Reserves The charity adopts the policy on reserves of keeping the £2,500 loan in place and £2,500 reserves in case of unforeseen circumstances. Boat repairs. running costs a will be met through income reiVed from passengers. Risk Management The trustees have considered the major risks to which the charty may be exposed and have taken steps to mitigate these. Signed on behalf of the Trustees J Wilkinson Tstee 05 January 2026 Page 3
NEWARK CRUSADER CIO INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF NEWARK CRUSADER CIO FOR THE PERIOD ENDED 31 MARCH 2025 I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2025 which are set out on pages 5 to 9 Responsibilities and basis of report As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). 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 all 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 in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act,. or the accounts do not accord with those records 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 ached. tcp 1 Crow Hill Drive Mansfield Nottinghamshire NG19 7AE 05 January 2026 Page 4
NEWARK CRUSADER CIO INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 31 MARCH 2025 Unrestricted Funds 2025 Restricted Funds 2025 Total Funds 2025 Totsl Funds 2024 Incoming Resources Incoming reSoUrS from charitsble activf(ies" Trips Incoming resour$ from generated funds.. Donations reiVed 14.893 14.893 20,046 Total incoming resour$ 14.893 14.893 20,046 Resources Expended Charitable activities.. Skipper salary Boat insurance and license Boat fuel and maintenan 3.791 7,033 3.791 7,033 3,679 15,084 10,824 10,824 18,763 Management and administration.. Telephone Website Sundry administration Professional fees 172 166 1.280 172 166 1,280 164 241 1,525 1,618 1,618 1,930 Total reSoUrS expended 12A42 12.442 20,693 Net incomingl{outgoing} resources 2,451 2,451 16471 Transfers between funds Funds balance brought forward at 1 April 2024 11,554 35,017 46,571 47,218 Funds balance carry forward at 31 March 2025 14,005 35,017 49,022 46,571 Page 5
NEWARK CRUSADER CIO STATEMENT OF ASSETS AND LIABILITIES AS AT 31 MARCH 2025 AsAt 31103125 AsAt 31103124 Notes FIXED ASSETS Boat Land and coastal ramp 12.283 22.734 12,283 22,734 CURRENT ASSETS Nat West current account 17.614 14,919 52.631 49,936 CREDITORS- amount falling due after one year Olher credilors Accruals (2.5001 {1.1091 12,5001 (8651 NET ASSETS 49,022 47,218 RESERVES Unrestricted Funds Restricted Funds 14,005 35,017 11,554 35,017 49,022 46,71 Page 6
NEWARK CRUSADER CIO NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2025 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Preparation The charity constr'tutes a public benefrt entity as defined by FRS 102. The financial statements have been prepared in accordance wilh Accounbng and RetX)rting by Chanbes. Statement of Recommended Practice applicable to charities preparing their accounts in accordan wth the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2022, the Charities Act 2011 and UK Generally Accepted Accounting Practice. The financial statements are prepared on a going concem basis under the historical cost convention, modified to include certain items at fair value. The significant accounting policies applied in the preparalion of Ihese financial statements are set out below. These poliaes have been consistenuy applied to all years presented unless otherwse staled. Funds As required, the funds of the chanty have been accounted for as restricted. designated or unrestricted as required. Unrestricted funds are available for use at the discretion of the trustees in fijrtherance of the general objectives of the charity and which have not been designated for other purp)ses. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordan with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set oul in the notes to Ihe finanaal statements. Income recognition All incoming reSoUrS are induded in the Income and Expenditure Account when the charity is legally entitled to the income after any performance conditt.ons have been met. the amount can be measured reliably and it is probable that the income will be received. For donations to be recognised the charty will have been not.fied of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred urrtil those conditions are fully met or the fulfilment of those conditions is thin the control of the charty and it is probable that they will be fulfilled. Fixed asset gifts in kind are recognised when r1Vable and are included at fair value. They are not deferred over the life of the asset. Expenditure recognition All expenditure is accounted for on an accruals basis and has been dassified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parb"es, rt is probable that the settlement wll be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as an expense against the activity for lch expenditure arose. Tangible fixed assets Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreaation and accumulated impairment losses. Cost indudes costs directly attnbutable to making the asset capable of operating as intended. Depreciation is provided on all tsngible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systemalic basis over its expected useful life. The boat has not been depreaated but has undergone an impairment review. The asset is well maintained and is holding its value and the Trustees are of the opinion that the market value would be equwalent to the carrying value of the asset. Page 7
NEWARK CRUSADER CIO NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2025 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued} Tax The charty is an exempt charty within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finan Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Going concern The financial statements have been prepared on a going nrn basis as the trustees believe that no material uncertainties exist. The trUStS have considered the level of fijnds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the chanty to be able to continue as a going COnrn. Related party transactions The Trustees have lent the Charity sufficient funds to cover the working capital in the short term. There is no agreement in pla for repayment but the Trustees have confirmed that they will not request repayment until such a lime as there are sufficient surplus funds available. TANGIBLE FIXED ASSETS RESTRICTED ASSETS Ramp Boat Totals Cost As at 1 April 2024 Addits'ons 22.734 20.000 42.734 As at 31 Marth 2025 22.734 20.000 42.734 Depreciation As at 1 April 2024 Addib'ons 7.717 7.717 As at 31 Marth 2025 7.717 7,717 Net Book Value As at 31 Marth 2025 22.734 12.283 35.017 As at 31 Marth 2024 22.734 12.283 35.017 ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Funds Restricted Funds Total Funds Tangible fixed assets Nal West current account Short term liabilities Long temi liabilities 35,017 35,017 17.614 (1,1091 {2,5001 17.614 (1,109) (2,500) Total Net Assets 14,005 35,017 49,022 Page 8