| Page | |||
|---|---|---|---|
| Reference and administrative | details ofthe Charity, its Trustees and advisers | ||
| Trustees' report | |||
| Independent auditors' |
report | on the financial statements | 8-11 |
| Statement offinancial | activities | 12 | |
| Balance sheet | 13 | ||
| Statement ofcash flows | 14 | ||
| Notes tothe financial | statements | 15-30 |
| Trustees | Mr BEvans | |||
|---|---|---|---|---|
| Miss A Hage (resigned 26April 2021) | ||||
| Mrs BWillmott | ||||
| Mr A Brown | ||||
| Miss EJohnson | ||||
| MrJMasters (resigned 26 July 2021) | ||||
| Mr W Robertson | ||||
| DrA Pearson | ||||
| Mr G Hooper | ||||
| Mr W Simpson | ||||
| MsSEverard (appointed 26July 2021) | ||||
| Company registered | ||||
| number | 07489189 | |||
| Chartty registered number |
1163421(England &Wales) SCO46500 (Scotland) |
|||
| Reghrtered | oNce | 6Fore Street | ||
| Newquay | ||||
| United Kingdom | ||||
| TR7 1LN | ||||
| Chief executive oNIcer | Joseph Taylor | |||
| Independent | auditors | Bishop Fleming | LLP | |
| Chartered Accountants | ||||
| 10Temple Back | ||||
| Bristol | ||||
| BS16FL | ||||
| Bankers | Lloyds Bank Pic | |||
| 14Molesworth | Street | |||
| Wadebridge | ||||
| Cornwall | ||||
| Solicitors | Osborne Clarke | |||
| 2Temple Back | East | |||
| Temple Quay | ||||
| Bristol |
| The tab risks to |
le below shows an overview ofthe the charity. |
m | ai | n areas of focus identified by the Trustees to mitig |
a | te t | he | k | ey |
|---|---|---|---|---|---|---|---|---|---|
| Action | Rationale and Detail | ||||||||
| 1. | Trustees to support the Chair of | Diversify sources ofincome, by developing the |
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| Finance by raising funds and by | membership scheme; individual giving; the retail and |
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| identifying posshle opportunities. |
online store and regular donation income |
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| Risk 2 | |||||||||
| 2. | Improve the quafity ofour service by | Monitor progress sofar on our scientific evaluation | of | ||||||
| helping our research supplier to | courses. Are we missing opportunities orthreats'P |
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| develop industry leading analytics |
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| Risk 3 | |||||||||
| 3. | Continue to develop the staffing and | Review security and data handling in the light ofthe |
GDP | ||||||
| data securi Risk 1 |
I islation introduced in Ma 2018. |
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| 4. | Develop and implement a marketing | Develop the retail store case, and online offer tosecure | a | ||||||
| lan Risk 2 |
turnover ofover F100000this ear |
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| 5. | Develop and implement a marketing | Aim to grow further the income from supporters. | |||||||
| lan Risk2 |
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| 6. | Consolidate the expansion ofthe | Monitor Management Information to ensure a high |
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| Wave Project's newer locations (Risk | 1 | standard of H and Scontrol, financial control, good |
client | ||||||
| and 4 | and volunteer relations, and written su iercontracts. |
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| We have been able to maintain a service |
delivery for all projects by successful funding applications |
and | |||||||
| working | closely with local authorities throughout |
the UK. Our core activity ofsurf therapy has been | maintained | ||||||
| by a combination ofgrants and donations. |
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| PUBLIC BENEFIT | |||||||||
| The Trustees have complied with their |
duty | to have due regard to guidance published by |
the | Charity | |||||
| Commission on the operation ofthe Public |
Benefit requirement. | ||||||||
| ACHIEVEMENTS AND PERFORMANCE | |||||||||
| 2021 saw a big rise in demand for the services of The Wave Project due to the impact ofthe pandemic |
on | ||||||||
| children | and young people's mental health |
and wellbeing. The Charity responded by increasing |
capacity | in | |||||
| order to deliver more services and reach more | young people across its 16locations across the UK. |
| Restricted | Unrestricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | funds | ||
| 2022 | 2022 | 2022 | 2021 | ||
| R | R | ||||
| INCOME FROM: | |||||
| Donations and legacies |
$25,546 | 504,216 | 1,129,762 | 930,056 | |
| Charitable activities |
1,000 | 232,$36 | 233,836 | 243,623 | |
| Other trading activities |
115,080 | 115,080 | 83,544 | ||
| TOTAL INCOME | 626,546 | 851,932 | 1,478,478 | 1,257,223 | |
| EXPENDITURE ON: | |||||
| Raising funds | 62,802 | 62,802 | 37,391 | ||
| Chadtable activities |
687,651 | 913,588 | 1,601,239 | 1,036,276 | |
| TOTAL EXPENDITURE | 887,651 | 976,390 | 1,664,041 | 1,073,667 | |
| NET MOVEMENT | IN FUNDS | (61,105) | (124,458) | (185,563) | 183,556 |
| RECONCILIATION | OF FUNDS: | ||||
| Total funds brought | fonvard | 314,059 | 128,769 | 442,828 | 259+72 |
| Net movement in funds |
(61,105) | (124,458) | (185,563) | 183,556 | |
| TOTAL FUNDS CARRIED FORWARD | 252,954 | 4,311 | 257,265 | 442,828 |
| 2021 | ||||
|---|---|---|---|---|
| F | ||||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||
| Net cash | used in operating activities |
(212,838) | 280,263 | |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||
| Purchase | ofintangible assets | (11,875) | ||
| Purchase | oftangible fixed assets | (24,998) | (57,293) | |
| NET CASH USED IN INVESTING ACTMTIES | (24,998) | (89,188) | ||
| CHANGE | IN CASH AND CASH EQUIVALENTS | IN THE YEAR | (237,83$) | 211,995 |
| Cash and | cash equivalents at the beginning ofthe year |
388,254 | 175,159 | |
| CASH AND CASH EQUIVALENTS AT THE END | OF THE YEAR | 148,418 | 386,254 | |
| The notes | on pages 15to30form part ofthese financial statements |
| Restricted | Unrestricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | funds | ||
| 2022 | 2022 | 2022 | 2021 | ||
| R | R | ||||
| Donations | 365,757 | 385,757 | 165,940 | ||
| Grants | 625,546 | 138,459 | 784,005 | 639,316 | |
| Government | grants | 124,800 | |||
| 625,546 | 504,216 | 1,129,782 | 930,056 | ||
| TOTAL 2021 | 690,006 | 240,050 | 930,056 |
| Restricted | Unrestricted | Total | Total | |
|---|---|---|---|---|
| funds | funds | funds | funds | |
| 2022 | 2022 | 2022 | 2021 | |
| R | R | F | ||
| Sales and services | 1,000 | 185,728 | 188,728 | 234,855 |
| Surf Club | 46,908 | 48,908 | 8,768 | |
| TOTAL 2022 | 1,000 | 232,636 | 233,63$ | 243,623 |
| TOTAL 2021 | 4,210 | 239,413 | 243,623 |
| Unrestricted | Total | Total |
|---|---|---|
| funds | funds | funds |
| 2022 | 2022 | 2021 |
| R | R | |
| 115,080 | 115,080 | 83,544 |
| 83,544 |
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Support | Total | Total | ||
| directly | costs | funds | funds | ||
| 2022 | 2022 | 2022 | 2021 | ||
| R | R | R | |||
| Costs ofcharitable | activities | 1,038,456 | 562,783 | 1,601,239 | 1,036,276 |
| TOTAL 2021 | 675,459 | 360,817 | 1,036,276 |
| Total | Total | |||||
|---|---|---|---|---|---|---|
| funds | funds | |||||
| 2022 | 2021 | |||||
| Staff costs | 132,581 | 90,898 | ||||
| Depreciation | 37,730 | 35,618 | ||||
| Legal and professional fees | 86,922 | 20,402 | ||||
| Premises costs | 81,560 | 68,694 | ||||
| IT | 9,272 | 9,347 | ||||
| Training | 11,168 | 7,094 | ||||
| Administration | 164,324 | 105,428 | ||||
| Fundraising | 1,308 | 612 | ||||
| Loss on fixed | asset disposal | 5,716 | ||||
| Governance | Costs | 32,103 | 22,724 | |||
| 562,783 | 360,817 | |||||
| 7. | AUDITORS' | REMUNERATION | ||||
| Fees payable | to the Charity's | auditor forthe audit ofthe Charity's | annual | |||
| accounts | 10,680 | 10,200 |
| 2021 | ||||
|---|---|---|---|---|
| P | ||||
| Wages and | salaries | 854,309 | 601,568 | |
| Social security costs | 64,370 | 49,217 | ||
| Contdbution | to defined contribution | pension schemes | 18,140 | 11,557 |
| 934,819 | 662,342 |
| 2022 | 2021 | |
|---|---|---|
| No. | No. | |
| CEO | 1 | |
| Administrators | 5 | 5 |
| Project inanagers | 23 | 19 |
| Project workers | 11 | 2 |
| 27 |
| INTANGIBLE ASSETS | |
|---|---|
| Computer | |
| software | |
| R | |
| COST | |
| At 1 February 2021 | 11,875 |
| At 31January 2022 | 11,875 |
| AMORTISATION | |
| Charge for the year | 2,375 |
| At 31January 2022 | 2,375 |
| NET BOOKVALUE | |
| At 31January 2022 | 9,500 |
| At 31January 2021 | 11,875 |
| Freehold | Plant and | Iwotor | Rxtures and | ||
|---|---|---|---|---|---|
| property | machinery | vehicles | fittings | Total | |
| R | R | ||||
| COST | |||||
| At 1 February 2021 | 5,716 | 51,558 | 34,404 | 108,884 | 200,582 |
| Additions | 19,690 | 5,308 | 24,998 | ||
| Disposals | (5,716) | (5,716) | |||
| Transfers between classes | (2,834) | ||||
| At 31January 2022 | 54,094 | 111,358 | 219,844 | ||
| DEPRECIATION | |||||
| At 1 February 2021 | 41,506 | 9,924 | 74,175 | 125,605 | |
| Charge for the year | 7,554 | 10,819 | 16,990 | 35,383 | |
| Transfers between dasses | 710 | (710) | |||
| At 31January2022 | 49,770 | 90,455 | 160,968 | ||
| NET BOOK VALUE | |||||
| At 31January 2022 | 4,622 | 33,351 | 20,903 | 58,876 | |
| At 31January 2021 | 5,716 | 10,052 | 24,480 | 34,709 | 74,957 |
| 2021 | |||
|---|---|---|---|
| DUE WITHIN | ONE YEAR | ||
| Trade debtors | 26,245 | 2,952 | |
| Prepayments | and accrued income | 34,514 | 15,571 |
| 60,759 | 18,523 |
| 2022 | 2021 | ||
|---|---|---|---|
| R | |||
| Trade creditors | 3,990 | 27,257 | |
| Other taxation and social security | 15,389 | 15,369 | |
| Other creditors | 2,883 | ||
| Accruals and deferred | income | 8,900 | 16,809 |
| 30,942 | 59,435 |
| STATEMENT OF F | UND | S - CURRENT YEA | R | |||
|---|---|---|---|---|---|---|
| Balance at 1 | Balance at | |||||
| February | 31January | |||||
| 2021 | Income | Expenditure | 2022 | |||
| R | R | R | R | |||
| UNRESTRICTED FUNDS | ||||||
| General Funds | 128,769 | 851,932 | (976,390) | |||
| RESTRICTED FUNDS | ||||||
| Big Lottery | 74,739 | 99,600 | (147,378) | 26,961 | ||
| Wave Rangers - Sport England | 83,672 | P7,640) | 6,032 | |||
| South Devon | 5,700 | (1,100) | 4,600 | |||
| North Yorkshire Council | 7,522 | 6,100 | (1$5) | 13,457 | ||
| Aviva | 10,000 | 10,000 | ||||
| Children in Need |
95,794 | 115,280 | (148,640) | 62,434 | ||
| The Tides Fountains | (Vans) | 73,393 | P3,393) | |||
| Laureaus - Sustainability | and City toSea | 3$,109 | 11,550 | (47,659) | ||
| North Devon | 6,847 | 60,168 | (3?195) | 34,820 | ||
| Brighton | 2,687 | $,000 | (8,687) | |||
| Scotland | 9,662 | (9,662) | ||||
| Tudor Trust | 23,533 | 35,000 | (34,573) | 23,960 | ||
| South Wales | 29,068 | (29,068) | ||||
| Cornwall | 514 | (514) | ||||
| London | 4,101 | P20) | 8,381 | |||
| Tynemouth | 5,821 | (5,821) | ||||
| Foundation for Children |
4,483 | 27,500 | (24,809) | 7,174 | ||
| Barbara Ward Foundation | 7,500 | 10,000 | (8,814) | 8,686 | ||
| Buffini Chao Foundation | 5,679 | 13,125 | (13,125) | 5,679 | ||
| Lottery Sustainability | 64,458 | (23,688) | 40,770 | |||
| 314,059 | $26,546 | (687,651) | 252,954 | |||
| TOTAL OF FUNDS | 442,828 | 1,478,478 | (1,6$4,041) | 257,2$5 |
| STATEMENT OF FUND | S - PRIOR YEAR | ||||
|---|---|---|---|---|---|
| Balance at | Balance at | ||||
| 1 February | 31January | ||||
| 2020 | Income | Expenditure | 2021 | ||
| K | |||||
| UNRESTRICTED FUNDS | |||||
| General Funds | 35,687 | 563,007 | (469,925) | 128,769 | |
| RESTRICTED FUNDS | |||||
| Big Lottery | 27,419 | 133,135 | (85,815) | 74,739 | |
| Wave Rangers - Sport England | 43,966 | (43,966) | |||
| Beach School - Comic Relief | 1,683 | (1,683) | |||
| North Yorkshire Council | 7,328 | 20,100 | (19,906) | 7,522 | |
| The Henry Smith Foundation | 11,459 | (11,459) | |||
| Children in Need |
53,942 | 127,373 | (85,521) | 95,794 | |
| Morrisons | 58 | (58) | |||
| Laureaus - Sustainability | and City toSea | 24,377 | 101,142 | (89,410) | 36,109 |
| North Devon | 6,645 | 27,416 | (27,214) | 6,847 | |
| Brighton | 2,687 | 2,687 | |||
| Scotland | 9,363 | 29,500 | (29,201) | 9,662 | |
| Tudor Trust | 20,820 | 33,000 | (30,287) | 23,533 | |
| South Wales | 13,838 | 20,500 | (5,270) | 29,068 | |
| Comwali | 18,500 | (17,986) | 514 | ||
| London | 5,000 | (899) | 4,101 | ||
| Tynemouth | 13,750 | (7,929) | 5,821 | ||
| Foundation for Children |
10,000 | (5,517) | 4,483 | ||
| Barbara Ward Foundation | 10,000 | (2,500) | 7,500 | ||
| Bufllni Chao Foundation | 20,000 | (14,321) | 5,679 | ||
| CJRS | 124,800 | (124,800) | |||
| 223,585 | 694,216 | (603,742) | 314,059 | ||
| TOTAL OF FUNDS | 259,272 | 1,257,223 | (1,073,667) | 442,828 |
| ANALYS | IS OF NET ASSETSBETWEEN FUN | DS - CURRENT YEAR | ||
|---|---|---|---|---|
| Restricted | Unrestricted | Total | ||
| funds | funds | funds | ||
| 2022 | 2022 | 2022 | ||
| R | ||||
| Tangible | fixed assets | 20,927 | 37,949 | 58,876 |
| Intangible | fixed assets | 9,500 | 0,500 | |
| Current assets | 232,027 | (12,196) | 219,831 | |
| Creditors | due within one year | (30,942) | (30,042) | |
| TOTAL | 252,954 | 4,311 | 257,265 |
| Restricted | Unrestricted | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2021 | 2021 | 2021 | ||
| F | ||||
| Tangible | fixed assets | 33,059 | 41,898 | 74,957 |
| Intangible | fixed assets | 11,875 | 11,875 | |
| Current assets | 281,000 | 134,431 | 415,431 | |
| Creditors | due within one year | (59,435) | (59,435) | |
| TOTAL | 314,059 | 128,769 | 442,828 |
| At 31 January 2022 the Charity had commitments to make fu cancellable operating leases as follows: |
ture minimum lease payments |
under non- |
|---|---|---|
| 2022 | 2021 | |
| R | ||
| Not later than 1 year | 27,501 | 27,501 |
| Later than 1 year and not later than 5years | 09,792 | 95,418 |
| Later than 5years | 1,875 | |
| 97,293 | 124,794 |