| Charity Information |
|||
|---|---|---|---|
| Trustees' Report |
2-8 | ||
| Independent Examiner's |
Report | ||
| Statement of Financial |
Activities | 10 | |
| Balance Sheet | |||
| Statement ofCash flow | 12 | ||
| Notes to the Financial Statements | 13-24 |
| (Including Inco |
me an | d Expe | nditur | e Account) |
|||
|---|---|---|---|---|---|---|---|
| Total | Total | ||||||
| Unrestricted | Restricted | 31December | 31December | ||||
| Funds | Funds | 2022 | 2021 | ||||
| Note | F | 8 | F | ||||
| Income and Endowments | from: | ||||||
| Donations and legacies |
3 | 91,644 | 231,400 | 323,044 | 852,357 | ||
| Other trading activities and |
events | 4 | 1 120 | 1 120 | 134016 | ||
| Total income | 92,764 | 231,400 | 324,164 | 986,373 | |||
| Expenditure on: |
|||||||
| Raising funds | (64,005) | (64,005) | (87,547) | ||||
| Charitable activities |
5 | ~253 353 | ~275 067 | ~528420 | ~866938 | ||
| Total expenditure | (~317358 | (2~75067 | (~592425 | (954485) | |||
| Net income/(expenditure) | (2~24 594 | (4~3667 | (~268261 | 31888 | |||
| Net movement in funds |
(224,594) | (43,667) | (268,261) | 31,888 | |||
| Reconciliation of |
funds | ||||||
| Total funds brought | forward | 308 818 | 190000 | 498818 | 466 930 | ||
| Total funds carried | forward | 16 | 84,224 | 146,333 | 230,557 | 498,818 |
| 31December | 31 December | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Note | 6 | 6 | ||
| Fixed assets | ||||
| Tangible assets Investments |
10 11 |
1,116 1 000 |
4,446 1 000 |
|
| 2,116 | ||||
| Current assets | ||||
| Debtors Cash at bank and in |
hand | 12 | 72,021 178154 |
260,210 385722 |
| Creditors: Amounts | falling due | 250,175 | 645,932 | |
| within one year | 13 | ~21 734 | ~115560 | |
| Net current assets | 228441 | 530372 | ||
| Total assets less current liabilities | 230,557 | 535,818 | ||
| Creditors. " amounts more than one year |
falling due after | 14 | {37000) | |
| Nst assets | 230,557 | 498,818 | ||
| Funds ofthe Charity: | ||||
| Restricted income funds | 146,333 | 190,000 | ||
| Unrestricted income |
funds | 84224 | 308818 | |
| Total funds | 16 | 230,557 | 498,818 |
| For the year ended 35 De | cember 2 | 022 | ||
|---|---|---|---|---|
| Note | 2022 8 |
2021f | ||
| Cashflow from operating activities |
||||
| Net cashflow from operations | See below | (207,860) | (31,339) | |
| Total cashflow from operating | activities | (207 860) | (31339) | |
| Cashflow from investing activities |
||||
| Payments to acquire fixed assets |
(1,780) | |||
| Receipts from sale offixed assets | 292 | |||
| Total cashflow on Investing activities |
292 | (1,780) | ||
| Net decrease in cash and cash |
equivalents | (207,568) | (33,119) | |
| Cash and cash equivalents at 1 January 2022 |
385722 | 418841 | ||
| Cash and cash equivalents at 31 |
December | 2022 | 178,154 | 385,722 |
| Cash and cash equivalents consist of: |
||||
| Cash at bank and in hand |
178154 | 385722 | ||
| Cash and cash equivalent at 31 December 2022 |
178,154 | 385,722 | ||
| Reconciliation of income to net |
cash flow | from operations: | ||
| 2022 | 2021 | |||
| 6 | ||||
| Net income resources | (268,261) | 31,888 | ||
| Adjustments for: |
||||
| Depreciation charges and loss on |
disposal | 3,038 | 5,167 | |
| (Increase)/decrease in debtors Increase/(decrease) in creditors |
188,189 ~136826 |
(190,548) 122 154 |
||
| Net cash from operations | (207,860) | (31,339) |
| 2 Comparative S |
tatement | ofF | inancial | Activities | |||
|---|---|---|---|---|---|---|---|
| Total | |||||||
| Unrestricted | Restricted | 31December | |||||
| Funds | Funds | 2021 | |||||
| Note | E | ||||||
| Income and Endowments | from: | ||||||
| Donations and legacies |
3 | 484,857 | 367,500 | 852,357 | |||
| Other trading activities and |
events | 4 | 81,638 | 52,378 | 134,016 | ||
| Investment income |
|||||||
| Total Income | 566495 | 419878 | 986373 | ||||
| Expenditure on: |
|||||||
| Raising funds | (87,547) | (87,547) | |||||
| Charitable activities |
~547 060 | (~319878 | (866938) | ||||
| Total expenditure | (634607) | (319878) | (954485) | ||||
| Net income/(expenditure) | (~68 112 | 100000 | 31888 | ||||
| Net movement in funds |
(68,112) | 100,000 | 31,888 | ||||
| Reconciliation offunds |
|||||||
| Total funds brought | forward | 376930 | 90000 | 466 930 | |||
| Total funds carried | forward | 16 | 308,818 | 190,000 | 498,818 | ||
| 3 Income from donations |
and | legacies | |||||
| Unrestricted | Restricted | Total | Total | ||||
| Funds | Funds | 2022 | 2021 | ||||
| F | 8 | F | |||||
| Trusts and Foundations | 7,000 | 51,400 | 58,400 | 363,660 | |||
| Government grants |
(job retention | scheme) | 10,449 | ||||
| Corporate donations | 78,218 | 180,000 | 258,218 | 464,521 | |||
| Individual donations |
6426 | 6426 | 13727 | ||||
| 91,644 | 231,400 | 323,044 | 852,357 |
| Forthe year | ended 31 December | ended 31 December | ended 31 December | 2022 |
|||
|---|---|---|---|---|---|---|---|
| 4 Other trading |
activities and events | ||||||
| Unrestricted | Restricted | 2022 | 2021 | ||||
| Funds | Funds | Total Funds | Total Funds | ||||
| F | E | 8 | |||||
| Sponsorship income |
134,016 | ||||||
| Royalties | 1 120 | 1 120 | |||||
| 1,120 | 1,120 | 134,016 | |||||
| 5 Expenditure |
on charitable | activities | |||||
| Unrestdicted | Restricted | 2022 | 2021 | ||||
| Funds | Funds | Total Funds | Total Funds | ||||
| E | 8 | 6 | E | ||||
| Project direct costs: | |||||||
| Roadshow programme |
5,652 | 5,652 | 55,251 | ||||
| Rebels Crew sailing programme | 4,885 | 4,885 | 15,000 | ||||
| STEM Crew and | STEM and the | Sea | 46,861 | 46,861 | 103,857 | ||
| Sail GP | 8,249 | 8,249 | 38,258 | ||||
| Programme development |
18,024 | 18,024 | 33,662 | ||||
| Programme marketing to schools/teachers |
18,426 | ||||||
| The FA | 81,906 | 81,906 | 45,801 | ||||
| Connected Cowes |
11,512 | 11,512 | 101,370 | ||||
| Protect our future | 21,372 | 45,922 | 67,294 | ||||
| Staffcosts (see note 9) | 69,162 | 125,549 | 194,711 | 333,993 | |||
| Support costs | 55 500 | 33826 | 89326 | 121 320 | |||
| 253,353 | 275,067 | 528,420 | 866,938 | ||||
| Support costs are made up as follows: | |||||||
| Rent and property | costs | 6,130 | |||||
| Staff training, recruitment |
and clothing | 3,325 | 13,326 | ||||
| Travel subsistence and accommodation |
913 | 2,170 | |||||
| Office and IT | 6,940 | 19,278 | |||||
| Insurance | 6,146 | 6,570 | |||||
| Finance costs | 464 | 557 | |||||
| Contractor costs | 41,472 | 45,195 | |||||
| Governance costs (see note 6) | 5,914 | 8,223 | |||||
| Finance support | 11,900 | 14,704 | |||||
| Irrecoverable VAT |
9,214 | ||||||
| Depreciation and |
loss on | disposal | 3038 | 5 167 | |||
| 89,326 | 121,320 |
| Forthe year | Forthe year | ended | 31 | Decem | ber 2022 |
||
|---|---|---|---|---|---|---|---|
| 6 Governance |
costs | ||||||
| 2022 | 2021f | ||||||
| Independent | examiner's | fee | 3,925 | 3,600 | |||
| Taxation advice | 390 | ||||||
| Legal fees | 1 989 | 4 233 | |||||
| 5,914 | 8,223 | ||||||
| 7 Net incoming |
resources | ||||||
| Net incoming | resources | for the year is stated after: | |||||
| 2022f | 2021 | ||||||
| Depreciation | offixed assets | including | loss on disposal | 3,038 | 5,167 | ||
| 8 Trustees | remuneration | and expenses |
| 9 Staff costs | ||
|---|---|---|
| 2022 | 2021 | |
| 6 | ||
| Staff costs during the year were: | ||
| Wages and salaries | 169,531 | 293,754 |
| Social security costs | 20,410 | 30,190 |
| Pension costs | 4770 | 10049 |
| Total Staff costs | 194,711 | 333,993 |
| during th | e year e | xpressed as full time equivalents |
was as follows: | |||
|---|---|---|---|---|---|---|
| 31 | December | 31 | December | |||
| 2022 | 2021 | |||||
| Average | number | ofemployees |
| 2022 | 2021 | ||
|---|---|---|---|
| 680,000-E90,000 | |||
| F90,000-5100,000 | |||
| 10Tangible fixed assets | |||
| Office | Equipment | ||
| 2022 | 2021 | ||
| Cost | |||
| At 1 January 2022 | 21,930 | 20,150 | |
| Additions | 1,780 | ||
| Dieposals | (7198) | ||
| At 31 December 2022 | 14732 | 21 930 | |
| Depreciation | |||
| At 1 January 2022 | 17,484 | 12,317 | |
| Charge for the year | 2,847 | 5,167 | |
| Depreciation eliminated |
on disposal | ~6715) | |
| At 31 December 2022 | 13,616 | 17,484 | |
| Net book value | |||
| At 31 December 2022 | 1,116 | 4,446 | |
| At 31 December 2021 | 4,446 | 7,833 |
| Investment in Stem Crew Ltd |
||
|---|---|---|
| Unlisted | Investments | |
| 2022 | 2021 | |
| F | ||
| Cost | ||
| At 1 January 2022 and 31 December 2022 | 1,000 | 1,000 |
| Net book value | ||
| At 1 January 2021,and 31 December 2021 | 1,000 | 1,000 |
| 12Debtors | ||||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Grants receivable | 69,135 | 249,495 | ||
| Amounts recoverable |
from trading | company | 68 | |
| Accrued income | ||||
| Prepayments | 2,886 | 6,434 | ||
| Other debtors | 4213 | |||
| 72,021 | 260,210 |
| 13Creditors: amounts | falling due within one year | ||
|---|---|---|---|
| 2022 | 2021 | ||
| Creditors | 16,034 | 16,813 | |
| Taxation and social security | 11,214 | ||
| Accruals and deferred | income | 5700 | 87533 |
| 21,734 | 115,560 | ||
| 14Creditors: amounts | falling due in more than one year | ||
| 2022f | 2021 | ||
| Accruals and deferred | income | 37000 | |
| 37,000 |
| Deferred income | co | mprises of monies towards future | Roa | dshows, the |
STEM crew proj | ect and Go Sail |
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| F | E | |||||
| Balance at 1 January | 2022 | 88,400 | ||||
| Amounts released |
to income earned from charitable | activities | (88,400) | |||
| Amount deferred | in year in respect of2022 | 51,400 | ||||
| Amount deferred |
in year in respect of2023 | 37000 | ||||
| At 31 December 2022 | 88,400 | |||||
| 16Funds | ||||||
| Balance | at | Balance at | ||||
| 1January | 31December | |||||
| 2022 | Income | Expenditure | 2022 | |||
| F | F | E | ||||
| Unrestricted Funds |
308,818 | 92,764 | 317,358 | 84,224 | ||
| Restricted Funds | ||||||
| Protect Our Future | 60,000 | 32,367 | 27,633 | |||
| INEOS Go Humans | Academy | 120,000 | 37,000 | 83,000 | ||
| Stem Crew | 120,000 | 51,400 | 135,700 | 35,700 | ||
| Rebels Crew | 10,000 | 10,000 | ||||
| The FA project | 60 000 | 60000 | ||||
| Total restricted funds |
190000 | 231 400 | 275 067 | 146333 | ||
| Total Funds | 498,818 | 324,164 | 592,425 | 230,557 |
| 2021 Comparative | 2021 Comparative | Balance at | Balance at | ||
|---|---|---|---|---|---|
| 1January | 31December | ||||
| 2021 | Income | Expenditure | 2021 | ||
| F | 6 | 6 | |||
| Unrestricted | Funds | 376,930 | 566,495 | 634,607 | 308,818 |
| Restricted Funds | |||||
| Roadshows | 59,000 | 50,000 | 109,000 | ||
| STEM and the | Sea | 11,000 | 11,000 | ||
| Rebels Crew | 20,000 | 10,000 | 10,000 | ||
| The FA project | 202,378 | 142,378 | 60,000 | ||
| STEM Crew | 167500 | 47 500 | 120000 | ||
| Total restricted | funds | 90000 | 419878 | 319878 | 190000 |
| Total Funds | 466,930 | 986,373 | 954,485 | 498,818 |
| Net ass | ets be | tween funds | ||||
|---|---|---|---|---|---|---|
| Total funds | ||||||
| Unrestricted | Restricted | 31 December | ||||
| Funds F |
Funds f |
2022 | ||||
| Tangible | fixed | assets | 1,116 | 1,116 | ||
| Investments | 1,000 | 1,000 | ||||
| Current | assets | 103,842 | 146,333 | 250,175 | ||
| Current | liabilities | (21 734) | ~21 734) | |||
| 84,224 | 146,333 | 230,557 | ||||
| Total funds | ||||||
| Comparative | information: | Unrestricted | Restricted | 31 December | ||
| Funds | Funds | 2021 | ||||
| 6 | F | |||||
| Tangible | fixed | assets | 4,446 | 4,446 | ||
| Investments | 1,000 | 1,000 | ||||
| Current | assets | 455,932 | 190,000 | 645,932 | ||
| Current | and long term liabilities | (~152560 | (~152560 | |||
| 308,818 | 190,000 | 498,818 | ||||
| 18Financial instruments | ||||||
| 2022 | 2021 | |||||
| 6 | ||||||
| Financial | assets at amortised | cost | 247,288 | 639,498 | ||
| Financial | liabilities at amortised | cost | (21 734) | {64160) | ||
| Net financial assets | 225,554 | 575,338 |