2023-06-30-accounts

Contents			Page
Report of the Trustees
Report of the Independent		Examiner
Statement of Financial	Activities
Balance Sheet			10
Notes Forming part of	the	Financial Statements

Independent	Examiner	Sharon Austen	Sharon Austen	FCCA
		Francis Clark LLP
		Sigma House
		Oak View	Close
		Edginswell	Park
		Torquay
		TQ2 7FF
Bankers		Barclays Bank Pic
		P.O. Box	1320
		Lemon Street Truro
		Cornwall
		BX22BB
Solicitors		Stephens	Scown LLP
		Osprey House
		Malpas Road
		Truro
		Cornwall
		TR1 1UT
Investment	Advisers	Rathbone	Brothers Pic
		1, Curzon	Street
		London
		W1J 5FB

					Year to	Year to 30
					30June 2023	June 2022
			Unrestricted	Restricted	Total	Total
		Notes	Funds	Funds	Funds	Funds
INCOME FROM
Membership and joining	fees		77,862		77,862	74,402
Donations and legacies			7,288		7,288	111,524
Charitable activities
Tours		6d	38,941		38,941	31,058
Reunion Dinner			18,754		18,754	13,185
Other ticket income			10,120		10,120	3,336
Other Trading Activities			84,302		84,302	71,087
Investments			20,640		20,640	22,113
CJRSfurlough receipts						5,963
Other income			5,253		5,253	124
Total income			263,160		263,160	332,792
EXPENDITURE ON
Raising funds:
Trading expenses		3	60,857		60,857	44,947
Investment management	costs	8	6,768		6,768	7,330
Charitable activities		6c	144,740	97,868	242,608	126,318
Charitable activities - tours		6d	46,080		46,080	36,616
Event costs		6a	23,889		23,889	17,627
Grants and awards		6b	24,848		24,848	22,978
Total expenditure			307,182	97,868	405,050	255,816
Net (expenditure)/ income
before gains on Investments			(44,022)	(97,868)	(141,890)	76,976
Net gains/ (losses) on Investments		8	11,465		11,465	(37,930)
NET (EXPEND ITURE)/ INCOME
AND MOVEMENT IN FUNDS			(32,557)	(97,868)	(130,425)	39,046
RECONCILIATION OF FUNDS:
Total funds brought forward			612,672	100,000	712,672	673,626
Total funds carried forward			580,115	2,132	582,247	712,672

30June 2023
		30June	30June
	Notes	2023	2022
FIXEDASSETS		F	E
Tangible assets Investments		1,808 813,820	7,330 809,498
		815,628	816,828
CURRENT ASSETS
Stock Debtors		38,216 28,175	39,775 64,757
Cash at bank		163,527	218,727
		229,918	323,259
CREDITORS: due within one year	10	(94,240)	(82,676)
NET CURRENT ASSETS		135,678	240,583
TOTAL ASSETSLESSCURRENT LIABILITIES		951,306	1,057,411
CREDITORS: due after more than one year		(369,059)	(344,739)
NET ASSETS		582,247	712,672
FUNDS
Unrestricted Funds:	15b
General		438,287	472,951
Revaluation		141,828	139,721
Restricted Funds:	15a	2 132	100,000
TOTAL FUNDS		582,247	712,672

	Year to	Year to
	30June	30June
(a) Medals	2023	2022 E
Turnover Cost ofsales	6,326 (5,217)	9,554 (9,069)
Net profit	1,109	485
(b) Other
Turnover Cost ofsales	77,976 (55,640)	61,533 (35,878)
Net profit	22,336	25,655

Incom	e f	rom m	ember	ship and joining fees
					Year to	Year to
					30June	30June
					2023	2022
Life membership			fees		41,820	37,837
Annual subscriptions Overseas membership				fees	35,742 300	36,166 399
					77,862	74,402

s and Accounting Polici ended 30June 2023	es
6Analysis ofexpenditure		Restricted	Unrestricted	Year to	Year to
		Funds	Funds	30June	30June
				2023	2022
(a) Cost ofevents
BRNC Reunion Dinner			17,236	17,236	3,590
HMS Alliance BA21"Dinner			6,653	6,653	14,037
			23,889	23,889	17,627
(b) Analysis of charitable	expenditure
Grants and awards to	BRNC
BA Sword BYC Merchandise Grant Divisional Kit			984 7,196	984 7,196	1,530 2,434 8,153
Nav Block Grant POP Coverage Grant			3,091	3,091	6,435 2,649
Junior Officers Guide					101
RNLA Support					97
Prizes Gifts &Awards			1,831	1,831	529
INMS Amenities Fund					300
Education Grant					750
Queen's canopy project	seating		4,289	4,289
Marl Buffet			1,772	1,772
RFC Tri Nations Support			766	766
Welfare Support			1,185	1,185
Dinghy Sailing			700	700
BRNC Band			1,542	1,542
Card Printer			1,193	1,193
Ward Room Mess			299	299
			24,848	24,848	22,978
(c) Charitable activities
Pavillion feasibility study		97,868		97,868
Marketing and communications Membership cards			554 516	554 516	1,236
Bank charges and interest			3,349	3,349	3,273
Subscriptions and licences			10,649	10,649	5,101
Insurance			2,146	2,146	1,572
Recruitment Expenses			1,383	1,383	2,980
Salaries (note 6e)			84,882	84,882	79,927
Travel and subsistence			757	757	711
Postage and stationery Printing			5,643 4,513	5,643 4,513	5,223 3,117
Telephone Website development			1,554 3,670	1,554 3,670	1,479 4,039
Depreciation Other sundry costs			7,220 619	7,220 619	6,793 963
Governance costs
Audit and accountancy
Independent Examination			1,200	1,200	1,000
Other Cost oftrustee meetings Professional fees			10,821 4,652 612	10,821 4,652 612	5,042 1,533 2,329
		97,868	144,740	242,608	126,318

				Year to	Year to
				30June	30June
				2023	2022
(d) Tours
Turnover				38,941	31,058
Expenditure:		Salaries (note 6e)		(30,610)	(29,302)
		:Other		(15,470)	(7,314)
Net (loss)/profit				(7,139)	(5,558)
(e) Staff costs
Wages and		salaries		70,751	95,624
National	Insurance			5,988	6,105
Pension	costs			8,143	7,500
				84,882	109,229
				No	No
Average number		ofstaff employed	during the year was:	8	8

ofthe key management p Tangible assets	ersonnel were f	48,446 (202	2:f45,525).
	Hawk		Fixtures	Computer
	Boats	Cannon	and fittings	Equipment	Total
COST
At 1 July 2022	61,834	3,000	608	13,244	78,686
Additions				1,698	1,698
At 30June 2023	61,834	3,000	608	14,942	80,384
DEPRECIATION
At 1 July 2022	55,647	3,000	608	12,101	71,356
Charge for period	6,187			1,033	7,220
At 30June 2023	61,834	3,000	608	13,134	78,576
NET BOOK VALUE
At 30June 2023				1,808	1,808
At 31 July 2022	6,187			1,143	7,330

ended 30June 20	23
Investments			2023	2022
			Unrestricted	Unrestricted
				E
Investment portfolio:
Brought forward Investment income received			809,497 20,640	854,374 22,113
Withdrawals by charity Charges Realised and unrealised	(losses)/gains	on investments	(21,014) (6,768) 11,465	(21,729) (7,330) (37,931)
Charity balance at 30	June 2023		813,820	809,497
Listed on Stock Exchange Cash deposits			801,482 12,337	773,134 36,363
Investment portfolio Investment in subsidiary			813,819 1	809,497 1
			813,820	809,498

	same as th	e charity.
9.	Debtors
				2023	2022
	Gift Aid due Prepayments and accrued income			17,875 10,300	52,812 11,945
				28,175	64,757
10.	Creditors:	Amounts	falling due within one year
				2023	2022
	Deferred membership fees Other creditors and accruals			59,205 35,035	59,963 22,713
				94,240	82,676
11.	Creditors:	amounts	falling due after more than one year
				2023	2022
	Deferred	membership	fees	369,059	344,739

he curre	nt financial period.	y ang ae	r te end o
		2023	2022
Balance Amount Amount	as at 1 July 2022 released to income deferred in the period	404,702 (56,743) 80,305	E 367,690 (49,806) 86,818
Balance	as at 31 June 2023	428,264	404,702

Movements	in the current	year
			Balance at	Income	Expended	Transfers	Balance at
			1 July				30June
			2022				2023
Nav Block	RecSpace
The Gosling Foundation			100,000		(97,868)		2 132
			100,000		(97,868)		2,132
Movements	in the previous	period
			Balance at	Income	Expended	Transfers	Balance at
			1 July				30June
			2021				2022
Nav Block RecSpace The Gosling Foundation				3,000 100,000		(3,000)	100,000
				103,000		(3,000)	100,000

5b. Unr	estr	icted f	unds: moveme	nts in the	current year
			Balance at	Income	Investment	Expended	Transfer	Balance at
			1 July 2022		gain/(loss)			30June 2023
General Fund Revaluation Fund			472,951 139,721	263,160	9,358 2,107	(307,182)		438,287 141,828
			612,672	263,160	11,465	(307,182)		580,115

5b. Unr	estr	icted f	unds: moveme	nts in ihe	previous period
			Balance at	Income	Investment	Expended	Transfer	Balance at
			1 July		gain/(loss)			30 June
			2021					2022
General Fund Revaluation Fund			452,686 220,940	229,792	43,289 (81,219)	(255,816)	3000	472,951 139,721
			673,626	229,792	(37,930)	(255,816)	3,000	612,672