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|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|
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|(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)|
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|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|
##
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|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|||||
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|||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|
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|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|
##
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|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|
##
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|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|
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|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|
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