| Page | ||
|---|---|---|
| Legal and Administrative | Information | |
| Trustees Report | 2-4 | |
| Independent Examiners' |
Report | |
| Statement of Financial Activities | ||
| Balance Sheet | ||
| Notes to the Accounts | 8-13 |
| Company | Number | Number | 09138930 | |||||
|---|---|---|---|---|---|---|---|---|
| Registered | Charity | Number | 1158850 | |||||
| Charity Contact Address | Cowes Castle | |||||||
| The Parade | ||||||||
| Cowes | ||||||||
| Isle ofWight | ||||||||
| PO31 7QT | ||||||||
| Patron | HRH The Duke of | Edinburgh | ||||||
| Trustees | Mr Duncan Byatt |
|||||||
| Mr Alexander Charlton |
||||||||
| Ms Patricia Kyle | ||||||||
| Mr Neil McGrigor | ||||||||
| The Honourable Mrs |
Diana | Nicholson | ||||||
| Commodore Richard |
Powell | OBE | ||||||
| The Honourable Christopher |
Sharpies | |||||||
| Colonel Garron Snagge | ||||||||
| Mr James Stevens | ||||||||
| Bankers | Lloyds Bank | |||||||
| 22 StThomas' Square | ||||||||
| Newport | ||||||||
| Isle ofWight | ||||||||
| PO30 1SQ | ||||||||
| Solicitors | Blake Morgan LLP |
|||||||
| New Kings Court | ||||||||
| Tollgate, Chandlers | Ford | |||||||
| Eastleigh, Hampshire $0533LG |
||||||||
| Independent | Examiners | Moore (South) LLP | ||||||
| and Accountants | 9StJohns Place | |||||||
| Newport | ||||||||
| Isle ofWight | ||||||||
| PO30 1LH | ||||||||
| Investment | Managers | Sarasin & Partners | ||||||
| CCLA Investment | Service | |||||||
| Governing | Instrument | Memorandum and |
Articles | ofAssociation | dated 21 July 2014 |
| year and until the date ofap | proval were: |
|---|---|
| Mr Jeremy Bennett (resigned | 01/01/2023) |
| Mr Duncan Byatt (Appointed |
01/01/2023) |
| Mr Alexander Charlton (Appointed 01/10/2022) |
|
| Ms Patricia Kyle (Appointed | 25/11/2022) |
| Mr Neil McGrigor | |
| The Honourable Diana Nicholson |
|
| Mrs Claire Oulton (resigned | 01/10/2022) |
| Commodore Richard Powell |
OBE |
| The Honourable Christopher |
Sharpies |
| Colonel Carron Snagge | |
| Mr James Stevens |
| Total | Total | ||||
|---|---|---|---|---|---|
| Unrestricted | Unrestricted | ||||
| Funds | Funds | ||||
| Year to | 18Month period to | ||||
| 31/12/2022 | 31/12/2021 | ||||
| Notes | |||||
| INCOME | |||||
| Donations and legacies |
|||||
| Grants and donations | 134,919 | 58,853 | |||
| Investment income |
48517 | 72 597 | |||
| TOTAL INCOME | 183,436 | 131,450 | |||
| EXPENDITURE ON: | |||||
| Costs ofraising funds | 1,658 | ||||
| Charitable activities |
50 109 | 92616 | |||
| TOTAL EXPENDITURE | 50,109 | 94,274 | |||
| Net incoming resources for |
the year | 133,327 | 37,176 | ||
| Net realised and unrealised | gains on | investments | 228 430 | 297511 | |
| NET INCOME FOR | THE YEAR | (95,103) | 334,687 | ||
| RECONCILIATION | OF FUNDS | ||||
| Total funds brought | forward | 1,916,126 | 1,581,439 | ||
| Total funds carried | forward | 1,821,023 | 1,916,126 |
| AT 31 DECEMBER 202 | 2 | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Notes | ||||
| FIXEDASSETS | ||||
| Investments | 1 761 853 | 1 860283 | ||
| CURRENT ASSETS | ||||
| Debtors | 7,970 | 7,450 | ||
| Cash at bank in hand |
71 157 | 66207 | ||
| 79,127 | 73,657 | |||
| CREDITORS: AMOUNTS | FALLING DUE | |||
| WITHIN ONE YEAR | 8 | 19 957 | ~17814 | |
| NET CURRENT ASSETS | 59170 | 55843 | ||
| TOTAL NET ASSETS | 1,821,023 | 1,916,126 | ||
| INCOME FUNDS: | ||||
| Unrestricted Funds |
1,821,023 | 1,916,126 |
| THE YEAR ENDED 31 DE | THE YEAR ENDED 31 DE | THE YEAR ENDED 31 DE | THE YEAR ENDED 31 DE | THE YEAR ENDED 31 DE | CEMBER | 2022 | |||
|---|---|---|---|---|---|---|---|---|---|
| GRANTS AND DONATIONS | Total | Total | |||||||
| Year to | Period to | ||||||||
| 31/12/2022 | 31/12/2021 | ||||||||
| 8 | E | ||||||||
| Donations from individuals |
125,550 | 45,890 | |||||||
| Donations from Charitable |
Trusts, yacht | clubs and other | 9,369 | 11,000 | |||||
| Gift Aid recoverable | 1 963 | ||||||||
| 134,919 | 58,853 | ||||||||
| COST OF RAISING FUNDS | |||||||||
| Year to | Period to | ||||||||
| 31/12/2022 | 31/12/2021 | ||||||||
| 8 | |||||||||
| Fundraising | expenses | ||||||||
| Event costs | 1,323 | ||||||||
| Fundraising | support costs | 335 | |||||||
| 1,658 | |||||||||
| DIRECT CHARITABLE | EXPENDITURE | ||||||||
| Year to | Period to | ||||||||
| 31/12/2022 | 31/12/2021 | ||||||||
| F | E | ||||||||
| Total paid to | individuals | 10,818 | 15,877 | ||||||
| Total paid to | registered | charities | 32,820 | 60,926 | |||||
| Total paid to | local projects | —ITequipment | in schools | 12498 | |||||
| 43,638 | 89,301 | ||||||||
| Support | |||||||||
| Grant making | support costs | 2,047 | |||||||
| Governance | |||||||||
| Independent | examination | and accounting | 3,588 | 2,251 | |||||
| Insurance | 801 | 1,029 | |||||||
| Other costs | 35 | 35 | |||||||
| 50,109 | 92,616 | ||||||||
| The purpose | ofgrants made | to and on behalf of individuals | was to | advance the education and development |
|||||
| ofchildren and young adults |
by promoting | and supporting | training | and career development opportunities |
|||||
| with a marine | connection. | ||||||||
| 2022 | 2021 | ||||||||
| Ofthe grants | made: | 8 | F | ||||||
| Total number | 19 | 33 | |||||||
| Average value | 2,297 | 2,883 | |||||||
| 11 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| E | 6 | ||||
| Movement | on Investments | in the year was as follows: | |||
| Market value at 1 January | 2022 | 1,860,283 | 1,486,772 | ||
| Additions | 130,000 | 76,000 | |||
| Unrealised | changes | in value of investments | ~225 435 | 297 511 | |
| Market value 31 December | 2022 | 1,761,853 | 1,860,283 | ||
| INVESTNIENT PORTFOLIO | |||||
| 2022 | 2021 | ||||
| E | F | ||||
| Sarasin & | Partners: | ||||
| Listed investments | 651,755 | 757,609 | |||
| Other | 101,278 | 89,518 | |||
| Cash and | cash equivalents | 17756 | 33050 | ||
| 770,789 | 880,177 | ||||
| CCLA - COIF charity | funds | 991 064 | 980 106 | ||
| 1,761,853 | 1,860,283 |
| 7. | DEBTORS | ||
|---|---|---|---|
| 2022 | 2021 | ||
| 8 | 8 | ||
| Gift Aid recoverable | 7,450 | 7,450 | |
| Grants refundable | 520 | ||
| 7,970 | 7,450 | ||
| 8. | CREDITORS | ||
| 2022 | 2021 | ||
| 8 | |||
| Education grants payable | 16,849 | 15,564 | |
| Accruals | 3 108 | 2 250 | |
| 19,957 | 17,814 |