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||Page|
|---|---|
|Report ofthe Trustees|1to4|
|Report ofthe independent
Auditors|Sto6|
|Statement of Financial Activities||
|Statement ofFinancial Position||
|Statement ofCash Flows||
|Notes to the Statement ofCash Flows|10|
|Notes to the Financial Statements|11to19|
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||for|the Year|En ed 31stOctob|er 2020|||
|---|---|---|---|---|---|---|
||||||2020|2019|
|||||||restated|
||||Unrestricted|Restricted|Totalfunds|Total funds|
||||funds|funds|||
|||Notes|E|f|||
|INCOME AND ENDOWMENTS|FROM||||||
|Donations
and legacies|||205,609|1,489,834|1,695,443|1,669,215|
|Other trading
activities|||18,855||18,855|76,316|
|Investment
income|||88||88|73|
|Other income|||32,702|1,034|33,736|750|
|Total|||257,254|1,490,868|1,748,122|1,746,354|
|EXPENDITURE ON|||||||
|Raising funds||7|58,156||58,156|50,554|
|Charitable
activities||8|||||
|On the water costs
Trevassack
Lake and Learning|Centre||121,708
~52910|9,214
16,941|130,922
~69851|245,428
81,019|
|Total|||232,774|2e,155|256,929|377,001|
|NET INCOME|||24,480|1,464,713|1,489,193|1,369,353|
|Transfer between funds|||8,399|(8,399)|||
|NET MOVEMENT
IN FUNDS|||32,879|1,456,314|1,489,193|1,369,353|
|RECONCILIATION
OF FUNDS|||||||
|Total funds brought forward|||181,059|2,109,418|2,290,477|921,124|
|TOTAL FUNDS CARRIED FORWARD|||213,938|3,565,732|~3,779670|2,290,477|
|||||2020|2019|
|---|---|---|---|---|---|
||||||resisted|
|||Unrestricted|Restricted|Total funds|Total funds|
|||funds|funds|||
||Notes|6|6|||
|FIXED ASSETS||||||
|Tangible assets|14|47,120|1,233,729|1,280,849|911,191|
|Investments|15|1||1||
|CURRENT ASSETS||||||
|Debtors
Cash at bank and in hand|16|11,271
~220475|1,493,463
~1071545|1,504,734
~1292020|892,194
~488 442|
|||231,746|2,565,008|2,796,754|1,380,636|
|CREDITORS||||||
|Amounts
fa8lng due within one year|17|(14,929)|(233,005)|(247,934)|(1,350)|
|NET CURRENT ASSETS||216,817|2,332,003|~2548,820|~1379286|
|TOTAL ASSETS LESSCURRENT LIABILITIES||263,938|3,565,732|3,829,670|2,290,477|
|CREDITORS||||||
|Amounts
falling due after one year|18|(50,000)||(50,000)||
|NET ASSETS||~213938|~3565732|~3779670|2,290,477|
|FUNDS|19|||||
|Unrestricted
funds||||213,938|181,059|
|Restricted funds||||~3565,732|2,109,418|
|TOTALFUNDS||||~3,779670|2,290,477|
|The financial statements
were approved
by the Board of
behalf by:(em~
C. P,.Richardson||Trustees on2:........vf~.................and were
93M( ~z(|||signed on its|
|||for the|
Y s|
r En ed31stOcto|r2020||
|---|---|---|---|---|---|---|
||||||2020|2019|
|||||Notes||restated
f|
|Cash flows from operating|activities:||||||
|Cash generated
from operations|||||1,154,442|521,750|
|Net cash provided
by (used in) operating|||||||
|ectivldes|||||1,154,442|521,750|
|Cash flows from investing|activities:||||||
|Purchase of tangible fixed assets
Sale oftangible
fixed assets
Purchase of investments||||14
15|(416,305)
15,442
~1)|(557,457)
170,750|
|Net cash provided by (used in) investing|||||||
|activities|||||(400,864)|{386,707)|
|Cash flows from tlnancing|activities:||||||
|Cash inflows from new borrowing|||||50,000||
|Net cash provided
by (used in) financing|||||||
|activities|||||50,000||
|Change
in cash and cash|equivalents|in the|||||
|reporting
period|||||803,578|135,043|
|Cash and cash equivalents|at the beginning||of||||
|the reporting
period|||||4aa,442|353.399|
|Cash and cash equivalents|at the end|ofthe|||||
|reporting
period|||||1,292,020|488,442|
##
|RECONCILI|ATION|OF NET I|NCOME TO|NET CASH FLOW|FROM OPERATI|NG ACTIVITIES||
|---|---|---|---|---|---|---|---|
|||||||2020|2019|
||||||||rssialed|
||||||||8|
|Net Income|for the|reporting|period (as|psr the statement|offinancial|||
|activities)||||||1,489,193|1,369,353|
|Adjustments|for:|||||||
|Depreciation|charges|||||33,603|34,524|
|Profit on disposal of||fixed assets||||(2,398)|(750)|
|(Increaseydecrease||in debtors||||(612,540)|(862,727)|
|Increase in|creditors|||||246,584|1,350|
|Net cash provided||by (used|in) operating|activities||1,154,442|521,750|
##
|||||||||At|01,11.19|Cashflows|At 31.10,20|
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||E||
|Cash|||||||||488,442|803,578|1,292,020|
|Loans|falling|due|aller|more|than|one|year|||(50,000)|(50,000)|
||||||||||488,442|753,578|1,242,020|
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|||||||||2020|2019|
|---|---|---|---|---|---|---|---|---|---|
||||||||||resialed|
|||||||Unrestricted|Restricted|Total|Total|
|||||||funds|funds|funds|funds|
|||||||E|E|E|E|
||Holiday courses||||||||32,771|
||Schools|||||2,360||2,360|10,154|
||Fundraising|events||||16,357||16,357|32,111|
||Other|||||138||138|1,280|
|||||||18,855||18,855|76,316|
|5.|INVESTMENT|||INCOME||||||
|||||||||2020|2019|
||||||||||resialed|
|||||||Unrestricted|Restricted|Total|Total|
|||||||funds|funds|funds|funds|
|||||||E|E|E|E|
||Investment|income||||88||88|73|
|8|OTHER INCOME|||||||||
|||||||||2020|2019|
||||||||||raeleled|
|||||||Unrestricted|Restricted|Total|Total|
|||||||funds|funds|funds|funds|
|||||||E|E|E|E|
||Coronavirus
Surplus on|Job Retention Scheme grant
disposal offixed assets||||31,338
~1364|1,034|31,338
2,398|750|
|||||||32,702|1,034|33,736|750|
|7.|RAISING FUNDS|||||||||
||Other trading|||activities||||||
|||||||||2020|2019|
|||||||Unrestricted|Restricted|Total|Total|
|||||||funds|funds|funds|funds|
|||||||E|E|E|E|
||Raising donations||||and legacies|||||
||Support Costs|||||56,986||56,986|46,114|
||Other trading|||activities||||||
||Cost of fundraising||||evenls|1,170||1,170|4,440|
|||||||58,156||58,156|50,554|
|8.|CHARITABLE|||ACTIVITIES COSTS||||||
|||||||Direct costs|Support|2020|2019|
||||||||costs (note 9)|totals|restated|
|||||||E|E|E|E|
||On the water||costs|||70,473|60,449|130,922|245,428|
||Trevassack|Lake||||16,533|53,318|~69851|81,019|
|||||||87,006|113,767|200,773|326A47|
##
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|||||||||||||2020||2019|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||Raising|||On|the||Trevassack|Total||Total|
|||||||funds|water costs||||Lake|funds||funds|
|||||||6||6|||f|f||6|
|Staff costs||||||42,938||45,568|||40,152|128,658||109,630|
|Information
technology||||||3,244||3,443|||3,033|9,720||1,901|
|Administration||||||3,215||3,382|||3,037|9,634||13,156|
|Marketing||||||1,450||1,539|||1,355|4,344||6,013|
|Finance||||||276|||294||259|829||254|
|Professional
services||||||4,695||4,983|||4,390|14,068||16,416|
|Governance
costs||||||1,168||1,240|||1,092|3,500|||
|||||||56,986||60,449|||53,318|170,753||149,370|
|NET INCOME/(EXPENDITURE)|||||||||||||||
|Net income/(expenditure)|||is stated|||after charging/(crediting):|||||||||
|||||||||||||2020||2019|
|||||||||||||6||f|
|Depreciation
-owned|assets|||||||||||33,603||34,524|
|Surplus on disposal of 5xed assets||||||||||||(2,397)||(750)|
|Auditors'
remuneration||—statutory|||audit|||||||3,500|||
|Auditors'
remuneration||—other assurance services||||||||||600|||
|TRUSTEES' REMUNERATION||||AND BENEFITS|||||||||||
|There were no trustees'||remuneration||||orolher benefits||for|the year ended 31stOctober|||2020nor forthe year ended|||
|31stOctober 2019.|||||||||||||||
|Trustees' expenses|||||||||||||||
|There
were
no
trustees'
31stOctober 2019.|||expenses
paid||||for the|year||ended|31st October2020|nor
for the|year|ended|
|STAFF COSTS|||||||||||||||
|||||||||||||2020||2019|
|||||||||||||||6|
|Wages and salaries||||||||||||149,550|169,821||
|Social security costs||||||||||||7,158||15,278|
|Pension costs||||||||||||4,879||6,731|
|||||||||||||~161587|211,630||
|The average
monthly|number ofemployees||||||during the year|||was as follows:|||||
|||||||||||||2020||2019|
|Sailing Instructors||||||||||||2||5|
|Administration
&Support||||||||||||6||3|
##
||||Unrestricted|Restricted|Totalfunds|
|---|---|---|---|---|---|
||||funds|funds||
||||restated|restated|reslafed|
||||2019|2019|2019|
||||6|6|6|
|INCOME AND ENDOWMENTS||FROM||||
|Donaiions
and legacies|||266,558|1,402,657|1,669,215|
|Other trading
activities|||76,316||76,316|
|Investment
income|||73||73|
|Other income|||750||750|
|Total|||343,697|1,402,657|1,746,354|
|EXPENDITURE ON||||||
|Raising funds|||50,491|63|50,554|
|Charitable
activities||||||
|On the water costs|||202,555|42,873|245,428|
|Trevassack
Lake and Learning||Centre|27,022|53,997|81,019|
|Total|||280,068|96,933|377,001|
|NET INCOME|||63,629|1,305,724|1,369,353|
|RECONCILIATION|OF FUNDS|||||
|Total funds brought forward|||117,430|803,694|921,124|
|TOTAL FUNDS CARRIED FORWARD|||181,059|2~109418|~2290477|
##
||Freehold||Other||
|---|---|---|---|---|
||property|Boats|equipment|Totals|
||6||6|6|
|COST|||||
|At 1stNovember 2019(as restated)|653,380|208,423|106,632|968,435|
|Additions|401,853|13,976|476|416,305|
|Disposals||/14,046)||~14046)|
|At 31stOctober 2020|1,055,233|208,353|107,108|1,370,694|
|DEPRECIATION|||||
|At 1stNovember 2019(as restated)||39,612|17,632|57,244|
|Charge for year
Eliminated
on disposal||20,836
~1,002)|12,767|33,603
~1,002)|
|At 31stOctober 2020||59,446|~30399|89,845|
|NET BOOK VALUE|||||
|At 31st October 2020|1,055,233|148,907|76,709|1,280,849|
|At 31stOctober 2019|653,380|168,811|89,000|911,191|
##
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|DEBTORS:AMOUNTS
FALLING DUE WITHIN|ONE YEAR||
|---|---|---|
||2020|2019|
|||restated|
||f|8|
|Grant income|1,117,610|883,317|
|GIR Aid|783|7,737|
|P repayments|12,862|1,140|
|Other debtors|290,000||
|VAT|~83479||
||1,504,734|892,194|
##
|CREDITORS: AMOUNTS
FALLING DUE WITHIN O|NE YEAR||
|---|---|---|
||2020|2019|
||E|6|
|Trade creditors|111,730||
|Income in advance|4,731||
|Other creditors|1~31473|1,350|
||247,934|1,350|
##
##
|CREDITORS: A|MO|UNT|S
FALL|ING DUE AFTER ONE YEAR||||
|---|---|---|---|---|---|---|---|
|||||||2020|2019|
|||||||E|E|
|Bounce Back Bank||loan||||50,000||
|MOVEMENT
IN|FUNDS|||||||
||||||Net|Transfers||
||||||movement
in|between||
|||||At 1.11.19|funds|funds|At31.10.20|
|||||restated||||
|||||E||||
|Unrestricted
funds||||||||
|General
fund||||181,059|24,480|(14,242)|191,297|
|Designated
fund|2021 Sailing|||||22,641|22,641|
|||||181,059|24,480|8,399|213,938|
|Restricted funds||||||||
|Boat and equipment||fund||55,945|9,700|(8,399)|57,246|
|Toyota Parasport|Fund Grant||||4,198||4,198|
|Sam Chamberlain|-|prize fund||4,317|||4,317|
|Trevassack Lake||||1,987,057|1,413,711||3,400,768|
|Chandleryfund||||6,099|(2,914)||3,185|
|SEN fund||||56,DDD|||56,000|
|Youth Club
2021 Sailing|||||22,200
17,818||22,200
~17818|
|||||2,109,418|1,464,713|(8,399)|3,565,732|
|TOTALFUNDS||||~2290477|~1489193||~3779670|
|Net movement
in|funds,||included|in the above are as follows:||||
||||||Incoming|Resources|Movement
in|
||||||resources|expended|funds|
||||||E|E|E|
|Unrestricted
funds||||||||
|General
fund|||||257,254|(232,774)|24,480|
|Restricted funds||||||||
|Boat and equipment||fund|||16,000|(6,300)|9,700|
|Toyota Parasport|Fund Grant||||4,198||4,198|
|Trevassack Lake|||||1,430,652|(16,941)|1,413,711|
|2021 Sailing|||||17,818||17,818|
|Youth Club|||||22,200||22,200|
|SEN fund||||||||
|Sam Chamberlain
Chandlery
fund|-|prize|fund|||~2914|~2914|
||||||1,490,868|(26,155)|1,464,713|
|TOTAL FUNDS|||||1~748122|~258929)|1~489,193|
##
|||||||f|E
Net|f|
|---|---|---|---|---|---|---|---|---|
|Comparatlves
for|movement||||in funds||movement
in||
|||||||At 1.11.18|funds|At 31.10.19|
|||||||E|E|restated|
|||||||||E|
|Unrestricted
Funds|||||||||
|General
fund||||||96,149|84,910|181,059|
|Designated
fund equipment|||||replacement|~21 281|~21 281)||
|||||||117,430|63,629|181,059|
|Restricted Funds|||||||||
|Boat and equipment
Sam Chamberlain
-
Trevassack Lake||fund
prize|fund|||63,667
4,401
644,126|(7,722)
(84)
1,342,931|55,945
4,317
1,987,057|
|Helford Village changing|||rooms|||19,700|(19,700)||
|Chandlery
fund
SEN fund||||||15,800
56,000|(9,701)|6,099
56,000|
|||||||803,694|1,305,724|2,109,418|
|TOTALFUNDS||||||~921 124|1~369353|2~290477|
|Comparative
net movement||||in funds, included||in the above are as follows:|||
|||||||Incoming|Resources|Movemenl
M|
|||||||resources
E|expended
f|funds
E|
|Unrestricted
tunds|||||||||
|General
fund||||||343,697|(280,068)|63,629|
|Restricted funds|||||||||
|Boat and equipment
Trevassack Lake||fund||||1,392,657|(7,722)
(49,726)|(7,722)
1,342,931|
|SEN fund||||||10,000|(10,000)||
|Sam Chamberlain|-|prize|fund||||(84)|(84)|
|Helford
Village changing
Chandlery
fund|||rooms||||(19,700)
~9701)|(19,700)
~9701|
|||||||1,402,657|(96,933)|1,305,724|
|TOTAL FUNDS||||||1,746,354|~377,001)|1,369,353|
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