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|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||
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|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|||
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||||||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|
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|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|
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||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|
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|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|
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|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|
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|||||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|
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|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|
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|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|
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||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|
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|
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|
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|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|
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