Charlty reglstratlon numb#r 1158850 Company r•glstr•tlon number 0913B930 (Ewland and FOlal8s) THE ROYAL YACHT SQUADRON ISLE OF WIGHT FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 THE ROYAL YACHT SQUADRON ISLE OF WIGHT FOUNDATION LEGAL AND ADMINISTrATIVE INFORMATION MrDB MrAM CharlionKC MrsPAK MrN McGr The Hon. D M NK*￿ISCffi DL CorvrKth R PoM*ll OBE Thè Hon C ShaTples CLknd Carrm Snagge OBE DL Mr J St8vens (AppOin￿d 1 Jwluary 2023) Charfty numbgr 1158850 Company n￿nber 09138930 Reglst•rnd office of Wfght P0317QT l1)depend￿t 8x*nlner {&MthI LLP 9 St Johns Pl8¢e Isjo of Witht EngLw POX11LH Bank0r8 Uowls B8nk FYC Neiwl Ntrwpjrt lth ofWwJhl P030 18Q Patron HRH The thjke of Edlntyjryh Sdlcltorn Hampshiro ￿ake ￿*￿gan LLP Ne• Trfjngs C(xJrt Tdlg8te ChaThJlets Ford tleigh Hampshre SW 3LG Investment mgnaprs Saraskn & Partner5 CCLA Investment Flnance THE ROYAL YACHT SQUADRON ISLE OF WIGHT FOUNDATION CONTENTS Pago TnJstoe8' rep2rt Indapèndent exanlnets rep Statement aco B81anc4 sheet jles lo the )Inandal st8t8me 7-13 THE ROYAL YACHT SQUADRON ISLE OF WIGHT FOUNDATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEAIBER 2023 The charfty wos Incorporated on 21 July 2014, 8s a comFony knrfted by gLIa￿ta8, and regthr&J as a charity wtth the Charity ComMissk￿ In England and Wales on 13 Octc*w 2014. Th8 trusteos present their annual rerort and flnand818tstemgnts for Ihg gnd&J 31 t}eceM￿ 202 The Foundat[￿18 govgmed by Its merTh)rAfKkTh ofas8c¢th. In tho event ofan hthnt windkng up its m8mbeTs are Ilabl& to contrlbute a sum not 8xc4eding £1. ObJè¢tlv68 and acllvltles Worknng dtwty with the Isle ol Vl Forni Cowege. otlw adulE educat[￿ 8StabllshrnentS, 8mployers and other youth orfentsted ￿ganIsa￿"[￿s C￿ the [* of WpJM. Ihg F￿jndBb¢M's obiectiv8 Is to prowde tsrgeted, Maln￿ )Inan(yal, asslstsnc8 to y￿rrfJ peopl&. who or have a strong o)nned to th& Isle of Wlght. The alm belng lo hgl) thes8 ￿n9 pwwle galn access to Nghw trawthg staThJards 8nd qualfficatlons. whlch lead to b8tter qualty emplo￿￿￿ pY&Jonlnatety In Ihe m¥ltime se(*Y. and they ￿>J*j OthÈTh￿s0 not b8 Abiè to accgss. Publlc bgnefit In settlw their oblec*lves and planning their anwal acfvlies th8 Tr￿ have g￿7 carefvl conskler8tion to tho Charity Commfjssion's general guKlanr* on publt beMfiL AcFknm•nts p•rf0rn￿n Signthntaclmiigs &Ahl8Ch￿￿￿ts ag￿&0b￿c￿8 Slnee 2015 the Foun(laOon ￿ r￿ over 150 grants totsllry In excess of£4CK).(XIO. Jring the to 31* Decwnber 2023 £57.085 (2022 £43,638) was commrtte4J w) Grants to 3UPWrt 3312022- 19) young people. Th8 of grants ranges from £1￿ to £5,0(K). The yourvd p￿18 8UPP)rted from a ￿de rang8 of backgrounds and have been helped in 8 vthty of w incknllng payTn#nl of troiniro fee4 travel costs. equlprnent costs and course fee8. A grant fgr £5.¢XM) was made to C(w4es Enttifr￿se Colege to Supp￿ their V & W studÈnts knvolved in their award- wlnning Manlime Fuhjres project. £4,(￿10 hB8 also been conNnltted to sponsorlThJ a martn8 weltfing &)ur8e b hald in East Cth4w. In Januwy ?4, by Iste ofvfyht cl￿ for 8Fffenlwxs. In October the F￿j￿￿ati0n hothd a successful rec*ptk)n for rn￿e thon 80 partners. W onty was thls 8 gco marketing event foT the a#lvities ofthe F￿NjalK)n iNJt il vras a usÈfiJ neiw(¥knng fwm for 011 those attendlrwJ. Flnanclal rwl•w Thg FoÈindaOon has re￿Wad donallorts individu81 membprs of ts Roya Yacht Squadron 8nd asso(iat Trusts, whlch toggther vAth Gfft A¥J totalled r48,545 (2022 - £134.919) In 2023. A surpkjs of £180,B1412022 d8fidt of £95.103) l. including Carylal galn, has trthn cwrie(I f(¥ward in gwrnl reservos to 2024. M bursaries and grants to date have funded wt ofdiN￿lons speafi• dedlG9ted tsl puwe. No dffiatKsns constibjtè restricted funds. In Ilne with the Charftys invesknant polky, vthich Is the Trustèos, Inv6strnent Sukpcommitteè, funds havÉ placed wlth hvo inv8slment man￿6￿ lo generats a rettjm aTrJ (spltal growth. In 2023, follo￿ring a dwfiojlt wr in 2022. trKJth Investmvnt portfollos ha￿ rÈ¢oVU￿ wdl ￿ntInue to grow healthi￿. By Ihe gnd of 2023 th8 (*arlty hs inrtsal target irf £2m netA8s&s. ThL8 tArget was set In 2014 and. tskiryJ 8ox)unt of infiatlon, Is ewlv8ient rKW ts about £2.6m, has be￿rn8 Ihe Tr￿. updated taryal. investment m8n*Jers offer Iquldltyfunds 4tiich v￿ate rthns ofS% can be a(t88se*J wlthin 5 worklng days" so, the inlentlon is to Ihe curwt bank vxLyJnt b818rK8. not acc%￿ inter8$1, Èo a mu lower18v81. THE ROYAL YACHT SQUADRON ISLE OF ￿GHT FOUNDATION TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 ReserbP8 The F￿ndatI￿n Is a relativety yOLfVd chadlabkg trgarlsaknn 8aèkwwJ to geiwate a level of as*ts whlch VAII allow11 to a¢hleve it8 objectfvÉ& Tho Trust&88 ￿11 ¢ontinuÈ to nNy)ittr Tegarves rthy tn the I￿ht of the for grants 8nd fflnanclal supp and potential fUndrai￿r￿j. Plan8 for futurn p•rfod8 The FotWKl8tlon wll conllnue ts make grnnts In 8UFPJrt rfits dwrrtable TNste8s have set them8efves farget lo support 20 ap￿iCants, at a totsl valuo of £60K per annum. O[p￿DJnltieS. Ilko FLrtures and the marfllme weldSwJ tsjurse, lo supwt groups crfeligts￿ young Iwle. ￿ ttffitlnug to exp￿red. A CarBers Fa* Vlthlch VAII Invohe rThJre than 40 kx*l ￿, up to 8 w0￿b0￿ts alxmrt 800 sbjdents Is planned for September 2024. struct￿1 g¢)v•m•nce and managemènt The Foundatlon Is m8nageAI by tts TnJstee4 have rwrty tt¥wghcth the year. Trustees tralnlng and Indudon is m8d8 avail&)le. The t￿gte8S, who are al30 th& threcaors the purt¥)$0 of c4)mpary Lqw, aThJ %tho srnd durhvJ the yoar and up to the dotg of slwalur8 of the financ4al statements werp: Mr J Bennett Mr D Byait (Reswl 1 Jarnwy 2023) MrA M Chartton KC {AwNnte4J 1 J￿u￿ry 2023} mr8PAK￿8 Mr N McGtlgor The Hon. D M Nlc4Kkn DL C(*nmodDr8 R Pthydl CBE The Hon C Sharpt&q Col￿e[ Carron Snagge OBE DL MrJ StsVe￿% Thé frustees are al￿ tho dlrectorn ofth8 d￿rit8b1e Lxwy tr c4JnN)arylaw ptMp)Sg5. Rlsk Monag¢mgnt The tru8lees have ev81uated (>Mddered Ik iirwa of risks that tho Found8tron faces, and have pol1c￿S In plae* to rn￿gate the8e. THE ROYAL YACHT SQUADRON ISLE OF WIGHT FOUNDATION TRUSTEES. REPORT ONCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees. R96POll8lbHttl The Iruslees {vth) #re also (threclors for the wrposes of t￿MpanY law) 8re r8SFonsR)lé frjr preparfng the Trustees, Annual Report and the finar¥ial statements in aLwdance with 8ppIIc8ble law ar*1 Unrted KI￿d0M ActountSng Sta￿lards lun1t￿ Klngdom GewalIyA￿pted A￿￿ntiThJ Pr*th(*}. Cryany law requTe8 the Injstees to preporo financial statements fDr fin8nd*l year, whkh give a true And falr view ol the stsle of affairs of the charttsble ￿npanY and of the incoming ￿$Ources and appliL¥t*)n of r88ource8, Induding th8 Income an¥J expenditurn. ￿ the thwilablo In preparry theso final￿181 statements. the truslees ¥e wuired lo: select suttable and then appty uJnsi5tenty, observe the melhods and P￿￿1[￿e$ In the Charflles S(Y£P,' mak8 ludgements and e8tlmat&q that are reasf]n8Ne and pnjdent stÈt8 whether ap￿￿￿tle UK AuxwntiTrJ SlaNlard8 have b6en folbNed, subloct to any maleri departures disd(wd and expl8iwl irb the knnd81 stslements: preparB the fThncwl slatements wing basis unl688 it is irt0N)ropriate to wesume that the d￿ritatI9 company VAI rthirnje in cw8kn. Tha trust80s are ￿sp￿Sibl9 kÈ8plrvJ &Jequats &￿in11￿ r8wds that ￿SdO8• with reason8bk8 accajracy 8t any timg the fin8ndal post￿ of thè charitable (y)ryany arKI enable them lo ensure that the finer￿la1 statemènts comply with th8 Companles ￿ 2[￿16. ale aLso respordble for saf8wardiNJ th6 Assets of the charitable company and hence for taktng reascffioble stsps forthe prpvenlion and detectkn of fraud and other I￿￿antieS. The truatses, rewtwas approvgd by Bwd olTwslees BNJ swJned on Ils beh￿1. Co1￿94 Carron Sna￿8 OBE DL TNsts• 20 September2024 THE ROYAL YACHT SQUADRON ISLE OF WIGHT FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ROYAL YAcTrrf SQUADRON ISLE OF WIGiir FOUNDAlloN I report lo ts twslaes on my examlnatton of th8 fTh2ndd ￿tern￿￿ of The Royal Y8drt Squadron Isle of Wght Foundation (ths Iwstl for the year ended 3108cember 2023. R68poMlbllld•s and basls of report A8 Ihe trustees of tl* tn￿t 18tMJ akn ils dlrecaors for Ihe purtKw of ¢>MY4xyry Iww) yL¥J ar8 re9wis￿le for tho pr8P8r8lM of thg finanaal statements li 8coJrdaK¥ wlh th& of the Conwanies ACE 2C*J6 Itha 20( Act). H￿n￿ salSsfi8d myself th8t fmoncFal statem8nts of the bijst are not r￿uIrEd to b8 audited under Part 16 of the 2006 Act and 8r8 81iglbltr for indewndent examinalKJn. I rèwt in r8SWt of my ex8minati)n of the trusl's finandal st8t8ments ￿rrIed out under secb(yh 145 of the CharTlies A(* 2011 (Ihe 2011 Act). In Ca￿￿ng out my examination I h8ve followed all the applicable I￿re£ll0nS g￿n by tha thrity CommIss￿ l￿d￿r sectkjn 145(5Xbl of the 2011 Art. Indapandent ax•nlnorf8 8tatefflent I have completed my examkn8(k)n. I cc4kn that no matt￿5 havg corr* tr> my atrenllon In rx￿￿eCt￿Sn tl ox8min8don g￿l￿j mè cause to belth that in any mteryl rest 8c£ounting records were not kept in respgct olthe tntst as requir•d 386 crfthè 20C6Ac*. c* the fina￿1 ststements ckj Th)t acc￿ wilh th(￿e records". the ffin8nc¥al statgments do Th)1 caW ￿ tha wsunting rgquirem8nt8 of sectk?n 396 of Ihe 21K16 Act oth than 8ny requirèment that the aCc￿nts sive a tru8 ￿ far VI￿ 18 not a matter (aJnsKlered as part of an Ind￿endent gxaminaVon', or the flnanaal statements have not pwBred in atxx)rd8nce vAth the mlh¢)ds aThJ prin*les of the StBtement crf Recommonded Pr8¢t¢e for 8rtA)untry and rerM*tng by Charities wltable to tha￿tIeS prèparing tslr accounts ￿ a(u*dm *rfth the Fh)arK4al Re￿￿￿g StaThJard aprAk*trA8 In the UK Rèpubllc of Irel￿d {FRS 102). I have no ￿)nceM$ and havo come a(yr68 no othèr mattws In c4Jnnecllon tho exèmnatlon lo aitention Should ￿ drawn in this repLWt in ord8r to enatAe a proper Of￿ finarNi￿ st8t8ments tD ￿ rgached. Moore (Sothhl LLP Kevln R Coopor BA FCA DChA 9 St Johns Place N8WPOrt I￿e 0fW￿ht P030 1LH England D8t8d: 20 Seplemtw2024 THE ROYAL YACHT SQUADRON ISLE OF WIGHT FOUNDATION STATEMENT OF FINANCIAL ACTivrriES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unr•strIc￿ Unrnsblcted funds lund8 2023 2022 Income and •ndovmionts from: Donalon5 and18gacies Investr*nts Olhor Incom8 41.095 52,711 19.475 134,919 48,517 Total Incomo 113281 183,436 Exp8ndMure on: Charftable acti￿1188 67,343 ,109 Totsl expand4￿r* 67.343 50.109 Ngt gainslllo888s1 on lnves1w￿nts 10 134.876 1228.4301 N•t IncomoJloxpendtturn} •nd mwment In fvnds 180,814 195.103) Reconelllotlon of funds: Fund balancgs at 1 January 2023 1,821,024 1.916.126 Fund balances at 31 Decembor 2023 2.001,838 1.821,023 The for year derfve tr￿n cLm¢kntxng and th8r8 arB or losge8 other than those shown THE ROYAL YACHT SQUADRON ISLE OF WIGHT FOUNDATION BALANCE SHEEr AS A T 31 DECEMBER 2023 2023 2022 Not•$ Investmonts 12 1,896.729 1.761,853 Current aso•ts Debtor C98h al b8nk in hand 13 7,970 71,157 112,444 118.964 Cr•dltors: amounts falllng du• wlthln 79,127 14 111,8551 (19.9571 Net asgats 105,109 59.170 Total assats lats cuThant IlabllU•8 2,001,838 1.821,023 Nat ￿88￿ 2,IK11.838 1,821.023 The funds of the tru4t Unr88trfcted fvnds 2,C(11.838 1.821,ofJ 2.IH)1.&38 1.821.023 The eomFony Ls entilled to the exernpthjn frNn ￿ a￿￿rt rwirement (l￿taM￿d tn s&alon 477 oflhe Companies Act 2006, lor tha year ended 31 Dec￿ 2023. The dlractorn acknowledge th8IT respon8ibilities cx)mpqying wth the rwurements of the Companies Act 20[ th respect lo accounting rwds preparBtkn offfinanLyal &atem￿t& The m6ML￿r$ hÈvé not requlred the e￿wnYt0 obl￿n an 8udrt of rf5 financ¥al SlatemÈnts the year in question In actxJrd8nce wlth 8ectiiA1476. These finarK4al staterrents have been pr•pwed ￿ ￿llyd￿ wilh the applk*tAe to wanies subj lo the small companies reglme. The ffinanclal st8tèm8nts were approvtyl by th& trth4t885 cfft 20 Septenkn&r2024 Cc4rm81 Caffon sn￿ge OBE DL Trusts* Company réglsb7tion nun*er 09138930 {Engla￿l aThJ Wab8) THE ROYAL YACHT SQUADRON ISLE OF WIGHT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Ac¢ountlnB pollcl•s Ch¥lty Infomiation The Royal Yacht Squadrcn Islo of Wlghl Foundakn is a pthte c4wnpany hrTWted by guardntee Incorporated tn England and Wa￿. The reglstered offic* 18 The Casug, T1￿ Parade, Curtes. Islo ofwight. P0317QT. 1.1 Ac¢ountlng conv•ntlon The finan￿81 stslements have been prepa￿ in WIU) Accounong Reportlng by Charrdes: Statsment of RèLxJMmend￿ PrdCtK& 8pplicabt8 lo tharthes prepadJvJ their accounts rn acty)rdance wrfh tha Companies Art 2006, FRS 102 Tr Financial Reporbng standa￿ 8PF4ic8b18 in thg UK and Republic of Irglgnd" I'FRS 102.1 and the Ch8nli98 SORP "A(y)￿ntI￿J a￿1 Rew)rdrvJ by Cherhles." Statement of Rela￿￿￿e￿ Pracaks applicable to (*WI￿ thor a￿￿jnts In &C￿rdanC? with the FlnBncial ReportirKJ Stsndard appli(31￿8 in thè UK and RepublK of Ir*nd (FRS 102>. leffeGlve 1 January 2019). The 81 is a Public Benefft Entsty as d&fln8d by FRS 702. Th8 trust has taken advantage of thg In the SCIIP lor chartii8s not to prepara a Statement of Ca3h Tho ffinanclal statem￿ arè prepared sterfry. 15 the fU￿n8[ of th8 trltst. Trhjnetary amuunts in th888 fin￿￿1 81atements am rouThJ6d trj the nearest £. The financlal Statements ha¥8 been preparpd WKler ts hL¥torThl c48t CLYwention. T1￿ prindp81 accounting pollcles adopted 8re 8et ¢Jrt bplow. 1.2 Golng conc•m At the time of 8pproMng th¢ ffin8ncaaf slatements tha trustees ho¥0 a reasonabl8 expectatK)n th81 the tnjst has &J8quat8 r8sources (o continue in (yralbonal 8x¢lence for Iho tur￿&￿bIe fvlure. Thus the truska88 continue to ad¢)pt the LV)iNJ (x)nr*m t*sl8 Df accountkvd Ihe fina￿￿q1 31atemènts. la Charltable funds Unrestrtct6d fuThJs are available far ￿e at tr* dwekn) rf the trustees In fiJthernnce of tr*lr charitable obJethe& DésNJnated funcss o)mpAse funds have sel askle at the dis(*ètiffi of the truslee5 for sp8clflc purposes. The purposes and uses of the d￿￿nOted furmls arè set oul In the noles to the fknandal stslemnls. Restrlcted funds are sub￿1 to spedfic by donors ￿ grdntors 89 to how trw may ￿ us8d. The purposes and uses {rft￿ reStrict￿j funds are sel out in Ihe notes to the statemèrFts. Endowmenl fijnds rewesent tlKJsa assets ￿1th rwst be pern￿nent￿ by the charrty. ExpÈnd8bk* Endowmonts pennlt Iha Chariiy to Spend the (spttal p4Jm ￿ suitsbte caphal woiects ￿th the pemii&sion of the don￿. InLxJme a￿81ng C￿ the eMknrnt fund$ be used In acc¥Kdw ￿ the obJ8Cts of the charlty and L8 transferreAI lo the generaF thnds. Any &gpttal galns ￿l08se$ aTff6lrrfJ on the Inv98fvts f(xm part of the fund. InVestrn￿l management charges and legal ad￿c8 retating to thè fvnd are tharged 4dnst rethnt fijnd. 1A In¢omo Inctyne 18 reca)gnW when ts In￿1 is 18g81ty enlilled b 11 after ary Ferfomance c¥)ndltlons have bggn met. thè amounts L¥n te Trwasur￿ rdi*Jty. 2nd tt b5 wcthN8 that ir￿n￿WIl recelved. LegaC￿S arè re￿n￿￿ on r￿e￿I or otheThr£e rftho tr￿*t has been nolif*d of ￿ inN)en(tiro i*strfbullon, the amount Ls knNn, rewpt is expèd•J. W the ￿n(￿nt is not Ihe lega(y is treated 8È 4 CL￿ti￿gent THE ROYAL YACHT SQUADRON ISLE OF WIGHT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Ae¢ountlng pollcles slL8 at cal wrth bwths. other shc￿t-letTr Ilquld investrnents wrth maturibes of rtb￿thS ￿ loss, bank ￿erdrafts. Bank overdrafts ale shown thin borrcthings In current Ual￿￿11es. THE ROYAL YAcTrrr SQUADRON ISLE OF WIGHT FOUNDATION NOTES TO THE FINANCIAL sTATEME￿rs (coKnNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accauntlng pollcl¢• IContInu￿) IA Flnandal Instruments The tri￿1 has elect8d to s￿lY the prows￿ of Secllon 11 'B&S￿ Fln8ndal Instruments. and Sectlon 12 '0ther nandal tnstruments I￿les. of FRS 102 to all of its financi81 Inslnjments. Flnandal instruments are rec{y￿ kn the trLssfs bakne sl*et the twst b8￿Me5 paty lo the ntractual p￿SlOng of the Instr￿￿ Flnan(ial asgat8 8nd Ilabllues aro dtBet, with the nat 8Th￿1￿$ Pres￿ in thg Ilrwcaal stst8m8nts, wl there Ls a IEg8lly enforceabkn lo set off the rwThsad amourts aTrJ thBfB ￿ an intent￿n to settla on 8 nèt b8818 ￿ to reBnso the a88et and sattlè th8 l￿bl￿ty simuifongLNJ3ty. Bask Iln•ndalassets Ba8lc financtal assets. wNch Indude debtcrfs and (*sh 8rn1 b￿k bal￿&s, initially meosur8d at tranSaC￿On prfco indLMJing tr8ns8(thn Costs ar¥J are sutwuentty carrod at amDrllsed (ajst ￿sir￿ th8 gffgcJv8 interest mèlhad unless Ihg (x)nstihrte8 8 lha￿ang tr8nS8cu￿, ￿ere thè transactlon 18 measurgd at the present value ol th8 fubjre rS￿Ipts diswjnted at a mark8t Tate of internst ￿n￿n￿al assets da￿lfiEd a8 r￿Nable ￿1n one year are n0t8morll￿. Baslc l1nanelalff￿I￿es Basic fin8ndal liabllltles. ￿edlIorS S￿1 bank knans are Inlti81ty wwnBed at tran88¢t￿ ￿ce vnless the arrawvJement cxjnstltutes 8 ffianang trans&lion, where the debt instnjmenl i8 mgasured at the present value of the future pay￿nts discou￿ at a [￿a￿et rats of int8r&sL Fw)8ncaal liaLv￿l&S d8&8ified as payBble thln one year are rw)t 8mortis&J. Do￿ InslnJmerrtS are subsequenty ￿lIad At anb)rllsd ￿5( the eff8CtN8 Interest rate Meth￿1. Trad8 CrethI￿ Bre cbfigats￿ k> pay for 88Nkw that have beon 8¢qiwred in lh8 ord*)8ry u)ursg of operations SUPF4iers. payable *8 cknrfied as curreiit liabilibes rf p8ym&nt Is due wtthin or year ty1958. Ff not. th8y 8re ￿￿ented as n[￿nI liat4ittes. Trade c¥editors are rècAigniBed initially Bt IransBclon aNI subswuently msurd at arTK¥tised cost the effective Inte￿51 methc*J. Der4¢ognltl(m of flnanclalllabHhlès Fffinanoal liabilities ar& the trusts C￿*r*I ￿4￿jatIc￿S oxpire or are d￿tharged or con¢elled. 1S Taxxllon The charity is an ￿Mpt charity withn thB nwning of schedul8 3 of Ihe ChaiiiTBs Act 2011 and is consider￿1 to pass the tests set Qlrt in Paragraph I SKhedule 6 Financ* Act 2010 and therefore it mpets ihe definitK)n of a ¢hArftable conyny for UK ccfpor8lKMI tax wrposes. THE ROYAL YACHT SQUADRON ISLE OF WIGHT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (COPMNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Incomè from donatlam •nd leqoclg• Unrnstrlcted Unrestrlctod fund funds 2023 2022 Donatlons and gtfts DonatIc￿S from indivlduals t)onation8 frc¥n Charttable TnAts, Y¥Art Clubs olh8rs GIftAid reclworab 48.545 125,550 9,369 (T.49J) 41.095 134.919 Incoma from Inv•stmonts Unrnstrlcted Unrestrfcted fundts funds 2023 2022 sa￿n8 Investmerrt incorr CCLA investsnent ir￿me 23,004 29.707 25,863 52.711 48,517 Othèr Incomo Unrestrlcted Unrestrlcted funds nds 202J 2022 Other Income 19,475 other kKome Indudes ¥rrite off of hIstc￿￿ ￿nsp￿t g￿ts. 10- THE ROYAL YACHT SQUADRON ISLE OF WIGHT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Expandl￿rfy on charflabl• actlvltl•s 2023 2022 Dlrect Costs Fund raiswvJ exper￿ Grant fvndlThJ ofa¢thlUg51888 note 6) 43,638 Shar• of support governance costs not• n SupkX*t 603 2.850 2.848 3.623 67,343 50,109 Anatys18 by fuMI unrestri￿ fijnds 67,343 50.109 Grnnt¥ payabl• 2023 2022 Grants lo insulutions: Grants to kjea grJKds 5.000 32,820 EdUCall￿ wants In resp8Ct ￿ IndMdua15 10.818 Supwt coots allocated to a¢tMtles 2023 2022 Insur8n( Meetings B8nktharges AdvertL4ing Inter￿1 Loydlty Cre(lils SuThlry expenses L*)vemanL* COSt$ 278 125 97 1,475 (21 3,453 6.471 Anatysed between: h rftable activities SuwM)rt & govemance 3.453 6.471 11 THE ROYAL YACHT SQUADRON ISLE OF WIGHT FOUNDATION NOTES TO THE FINANCIAL STATEMEKrs (cO￿nNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 None of th6 trustees {or any pw$￿9 rthne￿ th￿￿) rpLefveJJ any ramuneratK)n or t0￿fits fffjm th6 trust dudng th8 year. Employees The average mrthly numb8rof omplJyee5 thè ￿Wa& 2023 Numb 2022 Numbor Total The adn￿nIStratIc￿ and supp￿1 c< Ihe TnJst¥ wwk, is #tsff of The Royal y￿h1 Squadr(￿. 11 Lq nol posSIb￿ to quantlfy the oJ5t ofwag8s In kwkl. 10 Galns and1088as on Invutments Unrostrlcted Unrnstrlclod nds fund8 2023 2022 Gain81Oosses> arklng on.. Revalua11on of InYestrn8nts 134.876 1228.430 11 Taxatlon charity 13 exempt fr(m tax81ion cffl Ms lJe(ause 01 its Inrrn is applied for cl)arit8lAe purposes. 12 FIx4d asset Invesknents U8ted Invesiments Cost or valuxtlon At 1 January 2023 Valuation thang88 1.761.853 134,876 At 31 DeL*Tr￿)er 2023 1,8g6,729 Carrylng amount At 31 DecembBr 2023 1.896.729 Al 31 D8(￿￿ 2022 1,761,853 12- THE ROYAL YACHT SQUADRON ISLE OF WIGHT FOUNDATION NOTES TO THE FINANCIAL STATEMEKfs (co￿lNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 12 Flx•d 8888t Invastn*nts {Contlnuedl Flxed Ass8t Invtsstments had of£NI year {2021" £1￿.000￿ No Indfvidual hoklings in the S8￿n & Pwlnets constituted th8n 5% of the total inv8gtm8nts. 13 D•btorn 23 2022 Amounts falllng du• ¥Athln year. Other debtor8 Prnp8yments and I￿l)me 4.0 520 7,970 4.520 7.970 14 Cr•dllors: ￿l¢￿nts falllng duo ¥Athln ono y 2023 21)22 Edl￿tIOn gwts payable Accruals and deforrod in¢ome 9,095 2.760 16,B49 3.108 11,855 19,957 15 Unrostrlctsd funds The unreslrlcttsd fun(L% of the charfty comwise Ihe unexp6nd8d baL8n￿ of donati(Th and granls are not subject to specific I￿rt￿lt￿)nS by doncrfs and ￿ant015 &S to lThv Ihey may be used. These include doslgnated furKls whFch h8V8 be￿ set astde out rfunr85lr1c￿ *Jnds by thé tnjstses forspedfic purty)s6s. At 1 JafiU￿ kncomln9 RosourcM Galng OIKI At31 IDs•e$ DKember 2023 General funds 1.821.024 113,281 [87,343) 134,876 2,001,838 Prevlous yw. At 1 JaNwy Inc¢mkng Resourctt G•lns and At31 2022 General funds 1.916,126 1&3,436 (￿.109) (228.430) 1,821,023 16 R8lAtÈd party Iransactlonts Ther8 werv no dlsdosable Telat8d tra￿c*C￿S thJrl￿ the yp8r {2022. rnn6). 13-