OCEAN WATERSPORTS TRUST (Vale of Glamorgan) Operating
BARRY COMMUNITY WATER ACTIVITIES CENTRE
Report of the Board of Trustees
Our mission
The Trust is a registered charitable trust, whose purpose is to benefit the residents of Barry and the wider neighbourhood of the Vale of Glamorgan, without distinction of gender, sexual orientation, race or of political, religious or other opinions by associating together the residents, voluntary and other organisations of the locality in a common effort to advance health and education and to provide facilities in the interests of social welfare, health and well-being, for recreation leisure time with the objective of participation of residents through community access to Water sports including but not limited to Sailing, Rowing, Canoeing, Power boating, Sail ability and Adaptive Rowing for the physically and mentally handicapped, Kayaking, Ocean Kayaking, Stand up Paddle Boarding and other complimentary training activities.
The trustees who served during the period April 2021 to March 2022 were
Christopher Basten Martin Westwood Keith Williams Heather Stevens Alan Cairns Jane Hutt Nigel Vick
Status of the Charity
The Ocean Watersports Trust was established in November 2013 as a charity, registered in July 2014 and continues to develop and operate the Barry Community Water Activity Centre.
Governance and management
The trustees are required by law to prepare financial statements which give a true and fair view of the state of affairs of the charity.
The trustees are of the opinion that in preparing the financial statements presented here, appropriate accounting policies have been consistently applied supported by reasonable and prudent estimates and judgements, and all applicable accounting standards have been followed. They are also satisfied that the charity has adequate resources to meet its operational needs for the coming year, and accordingly they continue to adopt the same basis in preparing the financial statement.
The trustees are responsible for ensuring that the charity keeps accounting records that disclose, with reasonable accuracy, the financial position of the charity and which enable them to ensure that the financial statements comply with all relevant legislation. They are also responsible for safeguarding the assets of the charity and hence for taking all reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees confirm that they are not aware of any relevant audit information of which the charity’s auditor is not aware; and that they have taken all steps that they ought to have taken as trustees to make themselves aware of any relevant audit information, and to establish that the charity and its auditor are aware of that information.
The trustees meet at least three times a year, and authorised groups (committees) meet from time to time as business requires. The Management Committee is appointed by the trustees to carry out the policies laid down by the trustees, and to manage the day to day operations of the charity. To facilitate effective operations, the Management Committee has been given authority, within the terms of delegation approved by the trustees, for all matters, including the establishment and appointment of other authorised groups (committees) for the effective running of Barry Community Water Activity Centre.
On appointment, trustees are advised to examine the Charity Commission’s current guidance for new trustees. According to their individual skills, trustees are allocated particular responsibilities. Induction to the charity’s operations is not considered necessary as trustees are appointed from the ranks of active volunteers or with specific knowledge of the workings of charities.
Objectives
The principal object of the charity continues to be the development of Barry Community Water Activity Centre, to advance the education and knowledge of children and adults in all forms of water based activity, and to provide a centre for the people of Barry to facilitate the growth of community involvement.
Public Beneft
The trustees have had regard to the Charity Commission’s guidance on public benefit. Of the charitable purposes set out in the Charities Act 2011, the centre principally contributes to (b)the advancement of education; (e)the advancement of citizenship or community development; g)the advancement of amateur sport.
The public benefits of the charity are
-
1) The provision of low cost access to water for community groups, clubs and other organisations
-
2) The facilitation of training for adults and children to raise competency in, on and around water
-
3) The provision of low cost meeting and other rooms for the surrounding community.
In providing these benefits to the public, the charity seeks to minimise harm to the environment.
Any member of the public can access these benefits by joining one of the many and varied groups or clubs that have consent to use Barry Community Water Activity Centre, and the Centre is open for any new group or club to apply for the same access.
Risk management
The charity has a formal risk management process, identifying in detail the risks to which the Centre is exposed. However each group or club which is given consent to access the facility has to provide their own risk management assessment, and assure the Centre that suitably trained and competent persons will manage all and every activity taking place at the Centre.
Achievements and activity April 2021 to March 2022
Safety
The safety and welfare of visitors, volunteers and users takes precedence over all other activities, and trustees are pleased to report another year without significant incident.
Centre development
With no major work on site, this period has again been one of consolidation and improvement.
No significant work has been done on the building in this period.
Security during the year was once again good, with no incidents, and it is felt that this demonstrated the effectiveness of the CCTV system installed previously.
The Centre was forced to close for some of the year, due to Covid restrictions, but it was pleasing that more adult groups used the centre in the summer of 2021. Also youth and junior groups returned to use the centre, but not in the numbers pre-Covid.
Volunteers
During the year, all operations at the Centre were carried out by volunteers within their competencies.
The trustees continue to offer their profound thanks to all those who give up their time for the benefit of others, and intend that the same methods of operation are continued for the coming year, only engaging professional contractors when the work required is outside the scope of normal operations.
Clubs and User Groups
It is pleasing to report that the number of clubs/user groups has remained steady throughout the year, and the level of charges continues to be very low.
In 2021-2022, usage of the centre increased as the restrictions imposed by Covid were relaxed. Nearly 4500 sessions of all types were recorded, still over 25% down on the peak year of 2018, but a welcome increase.
The centre was used as a venue for competition occasionally, and we continue to promote our facilities for this purpose.
Fund raising
Due to the diligence of our Treasurer, it is pleasing to report that the Trust’s finances are very healthy. The Trust has maintained the centre even with reduced income levels resulting from fewer participants. Fees from volunteer groups have increased as more resumed activities, and the Trust has continued to keep this income as low as possible, recognising that safety and maintenance costs are essential and these outgoings cannot be deferred.
Reserves policy
The trustees resolved that the Centre must run at a small surplus from 2017, to ensure that adequate funds are available to meet any contingency issues that may arise. The nature of any such expenditure cannot be foreseen at this moment, but the creation of a reserve gives reassurance that the Centre can continue to operate and maintain its service to its clubs and users.
Additionally the trustees have resolved that from April 2016, funds for the operation of the centre shall be separated from those given for the development of the site, to enable clearer and better control of all monies. These figures are given in the Financial Report, indicating that this target is being achieved.
Organisation
The Trust has maintained its present structure throughout the year.
The Trustees offer their thanks to all who have given up their time for the benefit of all users, without our volunteers there would be no centre and the people and children of Barry and the surrounding area would be the poorer for it.
The present situation
It is disappointing to report that in the last 12 months, no progress has been made with the lease to move to East Quay.
The transfer of the land back to ABP from the Housing Consortium has not yet taken place, and we are still in limbo.
Additionally as the Vale of Glamorgan Council were applying for a large grant as part of the UK government’s Levelling Up Fund, which included monies for a full slipway and permanent building for the Trust, both ABP and ourselves left this matter rather alone, as we awaited the result of the bid. Sadly the Council were unsuccessful, and we will be relying on our own fund raising to progress the development of East Quay.
Much time and energy has been given to supporting the Council’s LUF bid during 2022, and the Trustees have attended meetings and submitted evidence of viability to try to ensure that we did everything we could to ensure success. As noted above, the bid was unsuccessful.
As our original lease for the Mole expired in 2021, ABP have renewed it for two short terms, covering us to the present day. We are seeking a further extension to the end of 2023 to enable us to operate through the coming summer.
As part of the move to East Quay, the Vale Council demanded that we provide a full drainage report on the area, and this was done at considerable expense in the summer of 2022.
It is pleasing to note that activity levels throughout 2022 were higher and beginning to approach pre pandemic levels. The facilities on the Mole are now approaching 8 years old, but we are reluctant to spend significant money on maintenance while the move to East Quay is possible at any time.
As we move into 2023, the trustees envisage that the Centre will continue to operate for the benefit of its clubs, user groups and general public throughout the next12 months, and will strive to establish and fund the permanent facility. We look forward to a year’s operation without restriction and to see numbers return to pre-pandemic levels.
On behalf of the Trustees
Chris Basten Chairman
Addendum
As of the 24[th] January 2023, ABP have indicated today that they will shortly be in a position to enact the lease on East Quay for the 99 years agreed. This will hopefully enable us to be on site before the end of this financial year and begin the process of moving as soon as possible.
Independent examiner's report to the trustees of Ocean Watersports Trust Vale of Glamorgan
I report to the trustees on my examination of the accounts of the above charity ("the trust") for the year ended 31 March 2022.
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 trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the Directions given by the Charity Commission under section 145(5)(b) of the Act.
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 do not accord with the accounting records; or
-
the accounts do not comply with the applicable requirements concerning the form and contents of accounts set out in the Charities (Accounts 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.
J P Dancey Chartered Accountant Llys Y Coed Barry Vale of Glamorgan 26 January 2023
Ocean Watersports Trust Vale of Glamorgan
Statement of financial activities for the year ended 31 March 2022
| Note Income from: Donations and legacies 3 Charitable activities 4 Interest received Expenditure on: Raising funds 5 Charitable activities 6 Net income/(expenditure) Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted Restricted Total 2021 £ £ £ £ 29,279 - 29,279 3,143 9,640 - 9,640 28,073 3 - 3 1 38,922 - 38,922 31,217 838 - 838 900 10,250 - 10,250 50,176 11,088 - 11,088 51,076 27,834 - 27,834 (19,859) 418 (418) - - 28,252 (418) 27,834 (19,859) 54,715 2,141 56,856 76,715 82,967 1,723 84,690 56,856 |
|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Ocean Watersports Trust Vale of Glamorgan
Balance sheet as at 31 March 2022
| Note Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand Liabilities Creditors: amounts falling due within one year 11 Net current assets Total net assets The funds of the charity Restricted income funds 12 Unrestricted funds Total charity funds |
2022 2021 Unrestricted Restricted Total Total £ £ £ £ 11,274 1,723 12,997 15,887 2,244 - 2,244 2,261 69,657 - 69,657 45,864 71,901 - 71,901 48,125 208 - 208 7,156 71,693 - 71,693 40,969 82,967 1,723 84,690 56,856 - 1,723 1,723 2,141 82,697 - 82,967 54,715 82,697 1,723 84,690 56,856 |
|---|---|
The notes on pages 4 to 9 form part of these accounts.
The accounts were approved by the trustees on 26 January 2023 and signed on their behalf by:
Trustee
Ocean Watersports Trust Vale of Glamorgan
Notes to the accounts
for the year ended 31 March 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
The charity constitutes a public benefit entity as defined by FRS 102.
The accounts have been prepared under the historical costs convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.
Going concern
The Trust meets its day to day running costs form fundraising activities and user income. Expenditure on fixed assets is only made once funding lines are in place. After making enquiries the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. The Trust therefore continues to adopt the going concern basis in preparing these accounts.
Changes to accounting estimates
No changes to accounting estimates have occurred in the reporting period.
Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the Trust. Designated funds are unrestricted funds of the Trust which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations and grants which the donor has specified to be used solely for particular purposes.
Income
All income is recognised once the Trust has entitlement to the income, there is sufficient certainty of receipt and so it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donations are accounted for when receivable as long as they are capable of financial measurement.
Income from grants, whether capital or revenue grants is recognised when the Trust has entitlement to the funds, any conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
User income represents membership subscriptions and other charges made to users.
Ocean Watersports Trust Vale of Glamorgan
Notes to the accounts
for the year ended 31 March 2022 continued
1 Accounting policies continued
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Trust to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses are allocated to the applicable expenditure headings in the Statement of financial activities.
Tangible fixed assets
All assets are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:
| Leasehold property including slipways and building | |
|---|---|
| costs | Period of lease |
| Pontoons | Period of lease |
| Equipment | 10 years |
Taxation
The Trust is exempt from tax on its charitable activities.
Financial instruments
The Trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
2 Legal status of trust
The Trust is an unincorporated trust established by a deed of trust on 14 February 2014.
3 Income from donations and legacies
| Donations Patrons Gift aid |
2022 2021 £ £ 27,336 2,243 780 900 1,163 - 29,279 3,143 |
|---|---|
Ocean Watersports Trust Vale of Glamorgan
Notes to the accounts
for the year ended 31 March 2022 continued
3 Income from donations and legacies continued
The Trust was granted a 7 year lease, the initial term of which has come to an end, at a peppercorn rent by Associated British Ports to use land at Barry Docks and a licence to use the water at Barry Docks to further the Trust's charitable activities. No value has been attributed to the lease and licence in these accounts. The Trust is currently in discussions in respect of continued occupation.
The Trust benefits from the involvement and support of its trustees and volunteers. The economic contribution of volunteers is not recognised in the accounts.
4 Charitable activities
| User membership fees Other user income COVID grant |
2022 2021 £ £ 4,025 1,873 1,615 1,200 4,000 25,000 9,640 28,073 |
|---|---|
5 Fund raising expenses
| Lottery prizes Fund raising events |
2022 2021 £ £ 838 900 - - 838 900 |
|---|---|
Ocean Watersports Trust Vale of Glamorgan
Notes to the accounts
for the year ended 31 March 2022 continued
6 Expenditure on charitable activities
| Maintenance Insurances Sundry expenses Water supply Cleaning Waste disposal Light and heat Depreciation of tangible fixed assets Subscriptions Bank charges Planning Governance (see note 7) 7 Governance costs Secretarial costs |
2022 2021 £ £ 908 730 2,766 2,858 105 55 285 113 150 300 332 553 - 442 2,890 44,879 202 37 312 209 2,300 - - - 10,250 50,176 2022 2021 £ £ - - - - |
|---|---|
8 Trustees remuneration, expenses and related party disclosures
The Trust's trustees, who comprise the key management personnel of the Trust, were not paid or received any benefits in the year (2021: £nil) neither were they reimbursed any expenses (2021: £nil). No trustee has received payment for professional or other services supplied to the Trust (2021: £nil).
Certain trustees have purchased items or behalf of the Trust and have been reimbursed for these purchases.
C H Basten and P M Walters have both provided an interest loan of £2,500 (2021: £2,500) to the Trust. The loans are unsecured and repayable on demand.
Ocean Watersports Trust Vale of Glamorgan
Notes to the accounts
for the year ended 31 March 2022 continued
9 Tangible fixed assets
| Cost As at 1 April 2021 Additions As at 31 March 2022 Depreciation As at 1 April 2021 Charge for year As at 31 March 2022 Net book value As at 31 March 2022 As at 31 March 2021 |
Short leasehold land and buildings Pontoons Equipment Total £ £ £ £ 203,862 34,212 28,901 266,975 - - - - 203,862 34,212 28,901 266,975 203,862 34,212 13,014 251,088 - - 2,890 2,890 203,862 34,212 15,904 253,978 - - 12,997 12,997 - - 15,887 15,887 |
|---|---|
10 Debtors
| Other debtors Prepayments and accrued income 11 Creditors: amounts falling due within one year Loans Other creditors Deferred income |
2022 2021 £ £ 20 37 2,224 2,224 2,244 2,261 2022 2021 £ £ - 5,000 73 2,016 135 140 208 7,156 |
|---|---|
Ocean Watersports Trust Vale of Glamorgan
Notes to the accounts
for the year ended 31 March 2022 continued
12 Analysis of restricted funds
| Equipment fund | At 1 Incoming Resources At 31 April 2021 resources expended March 2022 £ £ £ £ 2,141 - (418) 1,723 |
|---|---|
The Equipment fund relates to grants received to fund the purchase of equipment.
Independent examiner's report to the trustees of Ocean Watersports Trust Vale of Glamorgan
I report to the trustees on my examination of the accounts of the above charity ("the trust") for the year ended 31 March 2022.
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 trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the Directions given by the Charity Commission under section 145(5)(b) of the Act.
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 do not accord with the accounting records; or
-
the accounts do not comply with the applicable requirements concerning the form and contents of accounts set out in the Charities (Accounts 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.
J P Dancey Chartered Accountant Llys Y Coed Barry Vale of Glamorgan 26 January 2023
Ocean Watersports Trust Vale of Glamorgan
Statement of financial activities for the year ended 31 March 2022
| Note Income from: Donations and legacies 3 Charitable activities 4 Interest received Expenditure on: Raising funds 5 Charitable activities 6 Net income/(expenditure) Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted Restricted Total 2021 £ £ £ £ 29,279 - 29,279 3,143 9,640 - 9,640 28,073 3 - 3 1 38,922 - 38,922 31,217 838 - 838 900 10,250 - 10,250 50,176 11,088 - 11,088 51,076 27,834 - 27,834 (19,859) 418 (418) - - 28,252 (418) 27,834 (19,859) 54,715 2,141 56,856 76,715 82,967 1,723 84,690 56,856 |
|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Ocean Watersports Trust Vale of Glamorgan
Balance sheet as at 31 March 2022
| Note Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand Liabilities Creditors: amounts falling due within one year 11 Net current assets Total net assets The funds of the charity Restricted income funds 12 Unrestricted funds Total charity funds |
2022 2021 Unrestricted Restricted Total Total £ £ £ £ 11,274 1,723 12,997 15,887 2,244 - 2,244 2,261 69,657 - 69,657 45,864 71,901 - 71,901 48,125 208 - 208 7,156 71,693 - 71,693 40,969 82,967 1,723 84,690 56,856 - 1,723 1,723 2,141 82,697 - 82,967 54,715 82,697 1,723 84,690 56,856 |
|---|---|
The notes on pages 4 to 9 form part of these accounts.
The accounts were approved by the trustees on 26 January 2023 and signed on their behalf by:
Trustee
Ocean Watersports Trust Vale of Glamorgan
Notes to the accounts
for the year ended 31 March 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
The charity constitutes a public benefit entity as defined by FRS 102.
The accounts have been prepared under the historical costs convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.
Going concern
The Trust meets its day to day running costs form fundraising activities and user income. Expenditure on fixed assets is only made once funding lines are in place. After making enquiries the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. The Trust therefore continues to adopt the going concern basis in preparing these accounts.
Changes to accounting estimates
No changes to accounting estimates have occurred in the reporting period.
Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the Trust. Designated funds are unrestricted funds of the Trust which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations and grants which the donor has specified to be used solely for particular purposes.
Income
All income is recognised once the Trust has entitlement to the income, there is sufficient certainty of receipt and so it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donations are accounted for when receivable as long as they are capable of financial measurement.
Income from grants, whether capital or revenue grants is recognised when the Trust has entitlement to the funds, any conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
User income represents membership subscriptions and other charges made to users.
Ocean Watersports Trust Vale of Glamorgan
Notes to the accounts
for the year ended 31 March 2022 continued
1 Accounting policies continued
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Trust to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses are allocated to the applicable expenditure headings in the Statement of financial activities.
Tangible fixed assets
All assets are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:
| Leasehold property including slipways and building | |
|---|---|
| costs | Period of lease |
| Pontoons | Period of lease |
| Equipment | 10 years |
Taxation
The Trust is exempt from tax on its charitable activities.
Financial instruments
The Trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
2 Legal status of trust
The Trust is an unincorporated trust established by a deed of trust on 14 February 2014.
3 Income from donations and legacies
| Donations Patrons Gift aid |
2022 2021 £ £ 27,336 2,243 780 900 1,163 - 29,279 3,143 |
|---|---|
Ocean Watersports Trust Vale of Glamorgan
Notes to the accounts
for the year ended 31 March 2022 continued
3 Income from donations and legacies continued
The Trust was granted a 7 year lease, the initial term of which has come to an end, at a peppercorn rent by Associated British Ports to use land at Barry Docks and a licence to use the water at Barry Docks to further the Trust's charitable activities. No value has been attributed to the lease and licence in these accounts. The Trust is currently in discussions in respect of continued occupation.
The Trust benefits from the involvement and support of its trustees and volunteers. The economic contribution of volunteers is not recognised in the accounts.
4 Charitable activities
| User membership fees Other user income COVID grant |
2022 2021 £ £ 4,025 1,873 1,615 1,200 4,000 25,000 9,640 28,073 |
|---|---|
5 Fund raising expenses
| Lottery prizes Fund raising events |
2022 2021 £ £ 838 900 - - 838 900 |
|---|---|
Ocean Watersports Trust Vale of Glamorgan
Notes to the accounts
for the year ended 31 March 2022 continued
6 Expenditure on charitable activities
| Maintenance Insurances Sundry expenses Water supply Cleaning Waste disposal Light and heat Depreciation of tangible fixed assets Subscriptions Bank charges Planning Governance (see note 7) 7 Governance costs Secretarial costs |
2022 2021 £ £ 908 730 2,766 2,858 105 55 285 113 150 300 332 553 - 442 2,890 44,879 202 37 312 209 2,300 - - - 10,250 50,176 2022 2021 £ £ - - - - |
|---|---|
8 Trustees remuneration, expenses and related party disclosures
The Trust's trustees, who comprise the key management personnel of the Trust, were not paid or received any benefits in the year (2021: £nil) neither were they reimbursed any expenses (2021: £nil). No trustee has received payment for professional or other services supplied to the Trust (2021: £nil).
Certain trustees have purchased items or behalf of the Trust and have been reimbursed for these purchases.
C H Basten and P M Walters have both provided an interest loan of £2,500 (2021: £2,500) to the Trust. The loans are unsecured and repayable on demand.
Ocean Watersports Trust Vale of Glamorgan
Notes to the accounts
for the year ended 31 March 2022 continued
9 Tangible fixed assets
| Cost As at 1 April 2021 Additions As at 31 March 2022 Depreciation As at 1 April 2021 Charge for year As at 31 March 2022 Net book value As at 31 March 2022 As at 31 March 2021 |
Short leasehold land and buildings Pontoons Equipment Total £ £ £ £ 203,862 34,212 28,901 266,975 - - - - 203,862 34,212 28,901 266,975 203,862 34,212 13,014 251,088 - - 2,890 2,890 203,862 34,212 15,904 253,978 - - 12,997 12,997 - - 15,887 15,887 |
|---|---|
10 Debtors
| Other debtors Prepayments and accrued income 11 Creditors: amounts falling due within one year Loans Other creditors Deferred income |
2022 2021 £ £ 20 37 2,224 2,224 2,244 2,261 2022 2021 £ £ - 5,000 73 2,016 135 140 208 7,156 |
|---|---|
Ocean Watersports Trust Vale of Glamorgan
Notes to the accounts
for the year ended 31 March 2022 continued
12 Analysis of restricted funds
| Equipment fund | At 1 Incoming Resources At 31 April 2021 resources expended March 2022 £ £ £ £ 2,141 - (418) 1,723 |
|---|---|
The Equipment fund relates to grants received to fund the purchase of equipment.