OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-10-31-accounts

REGISTERED CHARITY NUMBER: 1165396

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

FOR

CHILDREN'S SAILING TRUST

Lang Bennetts Audit Limited The Old Carriage Works Moresk Road TRURO Cornwall TR1 1DG

CHILDREN'S SAILING TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

Page
Report of the Trustees 1 to 11
Report of the Independent Auditors 12 to 14
Statement of Financial Activities 15
Balance Sheet 16
Cash Flow Statement 17
Notes to the Cash Flow Statement 18
Notes to the Financial Statements 19 to 32
Detailed Statement of Financial Activities 33 to 34

CHILDREN'S SAILING TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2022

The trustees present their report with the financial statements of the charity for the year ended 31 October 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1165396

Principal address

Trevassack Lake Garras HELSTON Cornwall TR12 6LH

Trustees

M E Barlow Ms L Norfolk Ms G M Briggs (resigned 22/6/2022) R Brook T Roach (resigned 13/7/2022) Ms C Green T Green T Holden P J Badger (resigned 9/1/2023) S J Staughton (appointed 3/4/2023) Mrs J L Wood (appointed 9/1/2023) S P Watson (appointed 9/1/2023)

Auditors

Lang Bennetts Audit Limited The Old Carriage Works Moresk Road TRURO Cornwall TR1 1DG

Page 1

Trustees Annual Report for the Year Ended 31st October 2022

The Trustees present their report with the financial statements of the Charity for the year ended 31st October 2022. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Public Benefit

The Trustees have complied with the duty in section 17(5) of the 2011 Charities Act and have had due regard to public benefit guidance published by the Charity Commission in setting the activities required to meet its objectives.

25 years of Confidence, Competence & Resilience

2022 saw Children’s Sailing Trust celebrate 25 years of delivering sailing and water activities to young people here in Cornwall and it is my great honour to recognise this as Chair of Trustees.

Set up by John Green MBE from his home on the Helford River with the primary purpose of getting young people of all abilities and backgrounds out on the water to sail, the dream was achieved by removing the cost to the families and to this day this is still the Trust's primary purpose. With the help of many generous donors of both time and money, we've achieved so much more since 1997 and with the upcoming celebration of our 'Friends of CST' collective and new volunteer drive, we hope to continue this growth for another 25 years.

My own volunteering days with the Trust started long before my Trustee days. In fact I couldn’t help but become involved whilst my children attended the local village school.

Spending many afternoons with them and their classmates on the water, I soon became the sailing coordinator for the school, with the task of making sure everyone had their wetsuits and got to where they needed to be on time… No mean feat I assure you!

It would be impossible not to notice the difference that sailing makes to the lives of young people. During my time on the River, I have seen hundreds of young people working together to overcome great challenges. Sailing helps them come to terms with handling boats and dealing with the uncertain weather of course but also, and most importantly, it helps them understand each other and themselves in a way little else can. Time and again, teachers tell us how this translates from the water into the classroom. Schools see improvements in concentration, motivation and teamwork, as sailing continues to be a fantastic opportunity to help children develop their self-confidence.

After the events of the past few years, we are pleased to have safely resumed activities, both on the Helford River and at our sister site at Trevassack Lake, catering for those with additional needs. Its first full year of operation has been another learning curve, though one we are proud to say has been a fantastic success for those it looks to serve.

My thanks to our incredible staff team at CST, led with great passion and dedication by the indomitable Jakie Jewell and now complemented by our new Activity Manager, Rupert Whelan, out on the water bringing with him a wealth of experience and fun. But most importantly thanks our supporters and volunteers, who have helped us get to where we are and who we hope will continue to support us into the future.

Martin Barlow, Chair of Trustees

Income Received During the Year ended 31 October 2022

Unrestricted General Reserves Income

This is money that is freely available to spend on any of the charity’s purposes.

Contributions

from Schools & Groups Trusts & £6,704 Foundations £67,460

Intercompany

£83,925

Gift Aid £5,689

Proceeds from

sale of equipment £5,150 Other Income including Kickstart Scheme £16,293

Community Fundraising

£10,053 Individuals £48,531

Total £243,805

The Unrestricted Designated Funds Income

This is money received which the Trustees have earmarked for particular use, without restricting or committing the funds legally.

Staff Welfare £5,000

Total £182,145

25th Anniversary Dinner £177,145

Income Received During the Year ended 31 October 2022 (continued)

Restricted Reserves Income

This is money received that has been restricted by the Funder to a specific use.

Gift Aid £4,125

Trusts £53,350

Grants £33,550

Individual Donors £17,750

Total £108,775

Summary of Funds Carried Forward as at 31 October 2022

Restricted Funds

This is money that is allocated to specific spending and made up of several funds, the largest of which is the Trevassack Lake Fund (including assets purchased from donations, grants and loans) which represents £3,365,055 of the £3,545,880 total fund.

Unrestricted Designated Funds

The Trustees have made the decision to allocate some funds, as described below, in order to continue supporting both the subsidiary and the charitable operations to try and secure the financial viability of the group. Cash is particularly tight in the first 6-8 months of the next financial year, which is to be expected due to the seasonality of the subsidiaries’ income and analysing historic patterns of donations to the Charity:

25th Anniversary Dinner Fund - £126,412

This money is exceptional by its nature, a one-off pot of money that the Trustees have decided is best used to help towards the £132,055 owed in capital loan repayments due in the next 5 years.These loans were due to be met by the surplus being generated by the C.I.C. but that future income is not guaranteed.

Staff Welfare Fund - £5,000

This money is being set aside because the Charity does not provide any benefits to group employees apart from the statutory requirements. Therefore this fund will be used to provide some benefits such as covering cost of SSP, discretionary leave and other such benefits as are deemed necessary.

Bursary Fund - £7,500

This fund represents a donation from one of our former Trustees given with the desire to fund holidays and activities at Trevassack Lake.

Unrestricted General Funds

This is the pot of money the Trust holds as at 31 October 2022, that is not restricted in its use. At the end of the financial year it has reduced to £178,750 as a result of the Trust incurring a £25,248 deficit. Its subsidiary, CST Trading C.I.C., also suffered a deficit in its first full year of trading with amalgamated losses to the value of £35,571. The Charity will continue to support the C.I.C. and was owed £70,313 at year end.

In summary, we ideally require 6 months of available funds however the Charity’s free reserves (excluding fixed assets) amount to £148,135, which is only 4 months of budgeted expenditure.

With Our Thanks

We are very grateful to the following Trusts and Foundations for their generous donations this year, as well as to our amazing individual donors, who together helped support us through a challenging year. Special thanks to (in no particular order):

Goonhilly Wind Farm, CCF Charles Reynolds, CCF National Lottery Community Fund Peter Harrison Foundation Persimmon Charitable Foundation Worshipful Company of Shipwrights Norman Family Charitable Trust Boardmasters Foundation Sports Foundation for the Disabled Trinity House Maritime Charity Carew Pole Charitable Trust Garfield Weston Foundation Emmanuel Kaye Foundation The Golden Bottle Trust 29th May 1961 Charitable Trust TK Foundation Tanner Trust

In 2022, we provided:

100%

Are more confident on the river and at sea now

88.8%

REALLY enjoyed the sessions 100% liked the sessions

"Found a new hobby he would like to pursue"

"Now considering possible career in the marine industry"

88.9%

"Very important to build her confidence and self-worth "

Said the best bit was learning a new skill

Our in-house WAVE syllabus:

"MT had never been on the water; due to her specific needs she normally does not get the chance to participate in water activities. You gave her the opportunity and with our and your support she was able to participate, and did participate, together with peers and I cannot even begin to describe how huge this is. Thank you."

"Some of the children who are not academically strong or even particularly sporty have really shone as being confident sailors. Also, the children are proud of their achievements. We have had some children who have been quite frightened or apprehensive about sailing, but with small steps and encouragement, everyone has been able to take part and overcome their anxieties."

Quotes from Group Leaders about students from CST sessions in 2022

"Their self-confidence has increased greatly. Some were initially very reluctant to join in with the activities but by the end of the series of sessions they all joined in. Your staff were incredibly patient with them and this, in addition to their calm, supportive approach helped our learners to feel safe and supported. Their team-working skills also increased greatly especially when in a double kayak! I have never seen our learners smile as much as they did when on the water so another big tick for how much it has benefitted their mental wellbeing!"

CST charitable sailing and watersport programmes instill a sense of achievement in participants, giving them a knowledge of sailing and watersports activities, an understanding of their marine environment, increased water confidence, knowledge of water safety, an ability to work as team, improved mental health and increased creative thinking and self-confidence.

Reserves Policy

The Charity would like to build an unrestricted reserve of £200,000 which is equal to six months charitable sailing activity. While we expect this to take several years, it will ensure the Charity is in a strong position and able to commit to a full programme of activity in March of each year. The Trustees are at liberty to invest the Charity's unrestricted reserves as they see fit, within the guidelines set out by the Charity Commission.

Going Concern

The Trevassack Lake site opened fully in late October 2021. The site suffered a deficit trading mainly due to delays and additional costs caused by the pandemic and subsequent economic downturn which effected local tourism. As with any new venture there have been challenges surrounding the costs of running the site at Trevassack Lake which the Trustees and Directors have under constant review. The intentions are to maximise the use of the site going forwards, in an affordable way, to ensure we are fulfilling our charitable objectives as efficiently as possible.

Future Strategic Planning

Children's Sailing Trust has put a robust plan in place and intends to maximise its charitable sailing programmes going forward, while making use of sailing instructors' time during the busy holiday periods to deliver profitable commercial sailing programmes to help support the charity's work.

CST's facilities at Trevassack Lake complement and extend our work on the Helford River, further increasing the numbers of children we can support, with a particular focus on creating opportunities for those with disabilities and special educational needs to experience watersports for themselves. We see great potential in growing the number of participants we reach, while also working with national charities to secure funding so that families of those with disabilities can come and holiday and take part in leisure activities with us. It is our vision that in time these facilities will help increase the financial sustainability of the charity.

2022 has seen the Charity continue to be agile and nimble while it works hard to return to its pre-pandemic level of activity while fully launching its new facility, and all the investment of resources this has entailed. We have hired the services of a seasoned consultant to work with the Trustee Board to produce a 5-year strategic review of our work:

Structure, Governance and Management

Governing Document

The CIO is governed according to the Constitution dated 10th August 2015 and registered with the Charity Commission on 2nd February 2016.

Recruitment and Appointment of New Trustees

The CIO is administered by its Trustees. New Trustees are appointed by the existing board of Trustees, normally for a term of at least five years, by a resolution passed at a properly convened meeting of the Trustees. In selecting individuals for appointment, the Trustees must have regard to the skills, knowledge and experience for the effective administration of the CIO.

We would like to record our thanks to outgoing Trustees Gina Briggs and Tom Roach, for their commitment and time over many years, and whose vision has made significant and lasting contributions to the Charity.

As at the end of the financial year there were seven Trustees, three of whom work together with the Chief Executive as a Management Committee, each having specific responsibilities, meeting as necessary during the year. The Management Committee is currently Martin Barlow, Anthony Holden and Coralie Green.

All Trustees give their time voluntarily and receive no remuneration or other benefits.

There is a Child Protection Policy in place and Disclosure and Barring Service (DBS) checks are carried out on employees, trustees and volunteers who have direct contact with the children and young people participating in our activities.

Risk Management

The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The Trustees delegate operational responsibility to the Chief Executive to recruit and train instructors who are contracted to be on the water for every teaching session. The instructors, led by the Chief Sailing Instructor, are responsible for supervising each session and for ensuring a continuous risk analysis is conducted throughout each session.

All risk and operational policies are published on our website (www.childrenssailingtrust.org.uk). The Trust is affiliated to and inspected annually by the Royal Yachting Association (RYA) and by the Adventure Activities Licencing Authority (AALA).

Personnel & Staffing Update

In March 2021 several activity staff were transferred to the Charity’s trading subsidiary CST Trading C.I.C. An agreement is in place for the Charity to buy back the services of the activity and accommodation staff in order to deliver its charitable activities.

The Charity also benefitted from the Government’s ‘Kickstart Scheme’ during the year with the 6 month funded recruitment of a site maintenance operative and assistant activity instructor.

The Trustees are responsible for setting the pay of the Chief Executive, having reviewed the job description, role and responsibilities, benchmarking against local and industry pay scales. The pay of all other staff is set by the Chief Executive in the same way, with review by the Management Committee.

CHILDREN'S SAILING TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2022

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ M E Barlow - Trustee

Page 11

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF CHILDREN'S SAILING TRUST

Opinion

We have audited the financial statements of Children's Sailing Trust (the 'charity') for the year ended 31 October 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Page 12

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF CHILDREN'S SAILING TRUST

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity and determined that the most significant are those that relate to financial compliance (for example in relation to taxation, company and charity law), relevant regulatory standards for the sector in which the charity operates, employment matters and other relevant laws and regulations.

We assessed the risks of material misstatement in respect of fraud as follows:

Based on the results of our risk assessment, we designed our audit procedures to identify and to address material misstatements in relation to fraud, as follows:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 13

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF CHILDREN'S SAILING TRUST

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Lang Bennetts Audit Limited The Old Carriage Works Moresk Road TRURO Cornwall TR1 1DG

Date: .............................................

Page 14

CHILDREN'S SAILING TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2022

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Other trading activities
3
Investment income
4
Other income
Total
EXPENDITURE ON
Raising funds
5
Charitable activities
6
Raising Funds
On the Water Costs
Trevassack Lake
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
17
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
148,972
269,302
2,526
5,150
425,950
60,696
42,969
154,393
92,343
350,401
75,549
34,862
110,411
207,248
317,659		 Restricted
funds
£
108,219
556
-
-
108,775
78
786
18,974
136,724
156,562
(47,787)
(34,862)
(82,649)
3,628,532
3,545,883		 2022
Total
funds
£
257,191
269,858
2,526
5,150
534,725
60,774
43,755
173,367
229,067
506,963
27,762
-
27,762
3,835,780
3,863,542		 2021
Total
funds
£
407,364
18,654
96
-
426,114
4,898
41,227
169,029
154,850
370,004
56,110
-
56,110
3,779,670
3,835,780

The notes form part of these financial statements

Page 15

CHILDREN'S SAILING TRUST

BALANCE SHEET 31 OCTOBER 2022

Notes
FIXED ASSETS
Tangible assets
11
Investments
12
CURRENT ASSETS
Debtors
13
Cash at bank
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
15
NET ASSETS
FUNDS
17
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
30,615
1
30,616
85,282
309,417
394,699
(63,448)
331,251
361,867
(44,205)
317,662		 Restricted
funds
£
3,614,076
-
3,614,076
(6,248)
154,543
148,295
(59,834)
88,461
3,702,537
(156,657)
3,545,880		 2022
Total
funds
£
3,644,691
1
3,644,692
79,034
463,960
542,994
(123,282)
419,712
4,064,404
(200,862)
3,863,542
317,662
3,545,880
3,863,542		 2021
Total
funds
£
3,695,416
1
3,695,417
206,746
356,870
563,616
(199,544)
364,072
4,059,489
(223,709)
3,835,780
207,248
3,628,532
3,835,780

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. M E Barlow - Trustee

The notes form part of these financial statements

Page 16

CHILDREN'S SAILING TRUST

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 OCTOBER 2022
2022
Notes
£
Cash flows from operating activities
Cash generated from operations
1
181,214
Net cash provided by operating activities
181,214
Cash flows from investing activities
Purchase of tangible fixed assets
(77,972)
Sale of tangible fixed assets
5,150
Interest received
2,526
Net cash used in investing activities
(70,296)
Cash flows from financing activities
New loans in year
-
Loan repayments in year
(3,828)
Net cash (used in)/provided by financing activities
(3,828)
Change in cash and cash equivalents in
the reporting period
107,090
Cash and cash equivalents at the
beginning of the reporting period
2
356,870
Cash and cash equivalents at the end of
the reporting period
2
463,960		 2021
£
1,340,515
1,340,515
(2,458,469)
2,706
96
(2,455,667)
180,000
-
180,000
(935,152)
1,292,022
356,870

The notes form part of these financial statements

Page 17

CHILDREN'S SAILING TRUST

NOTES TO THE CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 OCTOBER 2022

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period (as per the Statement of Financial
Activities)
Adjustments for:
Depreciation charges
(Profit)/loss on disposal of fixed assets
Interest received
Decrease in debtors
Decrease in creditors
Net cash provided by operations
2.
ANALYSIS OF CASH AND CASH EQUIVALENTS
Notice deposits (less than 3 months)
Total cash and cash equivalents
3.
ANALYSIS OF CHANGES IN NET FUNDS
At 1/11/21
£
Net cash
Cash at bank
356,870
356,870
Debt
Debts falling due within 1 year
(6,291)
Debts falling due after 1 year
(223,709)
(230,000)
Total
126,870

The notes form part of these financial statements

Page 18

CHILDREN'S SAILING TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

Income

Income from donations and grants is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Income from grants, including government grants, is recognised when the charity has an entitlement to the funds and any conditions to the grants have been met. Where performance conditions are attached to the grant and are yet to be met the income is recognised as a liability and included in the balance sheet as deferred income to be released.

Donated fixed assets are also recognised once the Charity has entitlement to them, it is probable they will be received and their value can be reliably measured. Valuation of assets is provided by the trustees. The value of services provided by volunteers has not been included.

Income from trading activities including holiday courses is recognised on the basis of when the service is delivered.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.

Allocation and apportionment of costs

Where costs cannot be attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources and staff time as follows:

Raising donations 20% (2021: 17%) On the water 40% (2021: 38%) Trevassack Lake 40% (2021: 45%)

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - not depreciated Plant and machinery - 10% on cost Fixtures and fittings - 33% on cost and 10% on cost Computer equipment - 33% on cost

Once the Travassack site and buildings have been brought into use, the buildings and professional fees will be depreciated.

Tangible fixed assets are shown at cost. Only cost above £500 are capitalised.

Taxation

The charity is exempt from tax on its charitable activities.

continued...

Page 19

CHILDREN'S SAILING TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2022

1. ACCOUNTING POLICIES - continued

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. DONATIONS AND LEGACIES

Individuals
Corporate bodies including charities
Gift aid
Grants		 2022
£
77,630
67,345
9,814
102,402
257,191		 2021
£
245,298
79,433
22,361
60,272
407,364

Grants received, included in the above, are as follows:

3.

Costal Communities Fund (Government Grant)
Coronavirus Job Rentention Scheme
Cornwall Marine Network
Cornwall Development Company
The RYA Foundation
Bounce Back Loan Interest
Trinity House
The National Lottery Community Fund
Peter Harris Foundation
Sports Foundation for the Disabled
OTHER TRADING ACTIVITIES
Fundraising events
Schools
Other
Property licence
Management charge
Equipment hire
Sale of goods		 2022
£
23,550
-
18,047
-
-
-
-
10,000
25,000
25,805
102,402
2022
£
180,639
6,704
885
15,600
43,860
22,000
170
269,858		 2021
£
29,971
10,724
9,487
900
6,800
1,250
1,140
-
-
-
60,272
2021
£
6,006
11,605
1,043
-
-
-
-
18,654

continued...

Page 20

CHILDREN'S SAILING TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2022

4. INVESTMENT INCOME

Deposit account interest
Interest receivable - trading
RAISING FUNDS
Other trading activities
Purchases
CHARITABLE ACTIVITIES COSTS
Raising Funds
On the Water Costs
Trevassack Lake
SUPPORT COSTS
Management
£
Raising Funds
27,319
On the Water Costs
55,845
Trevassack Lake
70,939
154,103		 2022
£
60
2,466
2,526
2022
£
60,774
Support
Direct
costs (see
Costs
note 7)
£
£
12,007
31,748
108,661
64,706
141,531
87,536
262,199
183,990
Information
Governance
Finance
technology
costs
£
£
£
1,002
670
2,757
2,004
1,343
5,514
7,404
1,502
7,691
10,410
3,515
15,962

5. RAISING FUNDS

Other trading activities

6. CHARITABLE ACTIVITIES COSTS

7. SUPPORT COSTS

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 October 2022 nor for the year ended 31 October 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 October 2022 nor for the year ended 31 October 2021.

continued...

Page 21

CHILDREN'S SAILING TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2022

9. STAFF COSTS

Wages and salaries
The average monthly number of employees during the year was as follows:
Sailing Instructors
Administration & Support
No employees received emoluments in excess of £60,000.
10.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
259,840
Other trading activities
18,654
Investment income
96
Total
278,590
EXPENDITURE ON
Raising funds
4,822
Charitable activities
Raising Funds
40,713
On the Water Costs
152,630
Trevassack Lake
104,934
Total
303,099
NET INCOME/(EXPENDITURE)
(24,509)
Transfers between funds
17,818
Net movement in funds
(6,691)
RECONCILIATION OF FUNDS
Total funds brought forward
213,938
TOTAL FUNDS CARRIED FORWARD
207,247

continued...

Page 22

CHILDREN'S SAILING TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2022

11. TANGIBLE FIXED ASSETS

COST
At 1 November 2021
Additions
At 31 October 2022
DEPRECIATION
At 1 November 2021
Charge for year
At 31 October 2022
NET BOOK VALUE
At 31 October 2022
At 31 October 2021		 Freehold
property
£
3,325,029
21,600
3,346,629
-
51,696
51,696
3,294,933
3,325,029		 Plant and
machinery
£
245,543
5,269
250,812
82,417
25,081
107,498
143,314
163,126		 Fixtures
and
fittings
£
236,402
51,103
287,505
30,030
51,417
81,447
206,058
206,372		 Computer
equipment
£
4,443
1
4,444
3,554
504
4,058
386
890		 Totals
£
3,811,417
77,973
3,889,390
116,001
128,698
244,699
3,644,691
3,695,417

12. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
MARKET VALUE
At 1 November 2021 and 31 October 2022 1
NET BOOK VALUE
At 31 October 2022 1
At 31 October 2021 1

There were no investment assets outside the UK.

The investment relates to the wholly owned subsidiary CST Trading C.I.C registered in England & Wales under company number 12572960. Until 30th May 2022 the subsidiary was known as CST Trading Limited and converted to a Community Interest Company from that date.

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Other debtors
VAT
Prepayments		 2022
£
1,952
73,653
2,229
1,200
79,034		 2021
£
1,533
185,367
18,811
1,035
206,746

continued...

Page 23

CHILDREN'S SAILING TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2022

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022
£
Bank loans and overdrafts (see note 16)
5,578
Trade creditors
11,718
Taxation and social security
2,442
Other creditors
103,544
123,282
15.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022
£
Bank loans (see note 16)
44,205
Other creditors
156,657
200,862
16.
LOANS
An analysis of the maturity of loans is given below:
2022
£
Amounts falling due within one year on demand:
Bank loans
5,578
Other loans
19,733
25,311
Amounts falling due between two and five years:
Bank loans - 2-5 years
23,660
Other loans - 2-5 years
80,981
104,641
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans > 5 years
20,545
Other loans > 5 years
75,676
96,221		 2021
£
2,680
40,196
-
156,668
199,544
2021
£
47,320
176,389
223,709
2021
£
2,680
3,611
6,291
23,660
78,090
101,750
23,660
98,299
121,959

continued...

Page 24

CHILDREN'S SAILING TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2022

17. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Designated Fund 2022 Sailing
Designated 25th Anniversary Dinner
Designated Staff Welfare
Designated Bursary Fund
Restricted funds
Boat and Equipment Fund
Toyota Parasport Fund Grant
Sam Chamberlain - Prize Fund
Trevassack lake
Chandlery Fund
SEND Sailing Fund
Youth Club (Trinity House)
Bruce Wake Ceiling Hoist
Bursary Fund
EKF Trevassack Sailing
TL Accommodation Equipment
TL Activity Equipment
Christmas __@ TL 2021
Peter Harrison Foundation
Sports Foundation for Disabled
The National Lottery Community Fund
TOTAL FUNDS		 At
1/11/21
£
203,998
3,250
-
-
-
207,248
64,909
3,831
4,317
3,448,346
2,612
56,000
17,215
3,000
7,500
10,000
6,617
4,185
-
-
-
-
3,628,532
3,835,780		 Net
movement
in funds
£
(135,203)
79,343
126,412
5,000
-
75,552
(9,353)
(367)
-
(83,291)
(373)
(194)
(3,793)
(60)
-
-
(6,617)
(744)
1,327
22,470
17,880
15,325
(47,790)
27,762		 Transfers
between
funds
£
109,955
(82,593)
-
-
7,500
34,862
(2,617)
-
-
-
-
(13,418)
-
-
(7,500)
(10,000)
-
-
(1,327)
-
-
-
(34,862)
-		 At
31/10/22
£
178,750
-
126,412
5,000
7,500
317,662
52,939
3,464
4,317
3,365,055
2,239
42,388
13,422
2,940
-
-
-
3,441
-
22,470
17,880
15,325
3,545,880
3,863,542

Page 25

continued...

CHILDREN'S SAILING TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2022

17. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated Fund 2022 Sailing
Designated 25th Anniversary Dinner
Designated Staff Welfare
Restricted funds
Boat and Equipment Fund
Toyota Parasport Fund Grant
Trevassack lake
Chandlery Fund
SEND Sailing Fund
Youth Club (Trinity House)
Bruce Wake Ceiling Hoist
TL Accommodation Equipment
TL Activity Equipment
Christmas __@ TL 2021
Peter Harrison Foundation
Sports Foundation for Disabled
The National Lottery Community Fund
TOTAL FUNDS		 Incoming
resources
£
164,454
79,346
182,150
-
425,950
-
-
38,175
-
-
-
-
-
1,127
1,668
25,000
25,805
17,000
108,775
534,725		 Resources
Movement
expended
in funds
£
£
(299,657)
(135,203)
(3)
79,343
(55,738)
126,412
5,000
5,000
(350,398)
75,552
(9,353)
(9,353)
(367)
(367)
(121,466)
(83,291)
(373)
(373)
(194)
(194)
(3,793)
(3,793)
(60)
(60)
(6,617)
(6,617)
(1,871)
(744)
(341)
1,327
(2,530)
22,470
(7,925)
17,880
(1,675)
15,325
(156,565)
(47,790)
(506,963)
27,762

Page 26

continued...

CHILDREN'S SAILING TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2022

17. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Designated Fund 2021 Sailing
Designated Fund 2022 Sailing
Restricted funds
Boat and Equipment Fund
Toyota Parasport Fund Grant
Sam Chamberlain - Prize Fund
Trevassack lake
Chandlery Fund
SEND Sailing Fund
Youth Club (Trinity House)
2021 Sailing
Bruce Wake Ceiling Hoist
Bursary Fund
EKF Trevassack Sailing
TL Accommodation Equipment
TL Activity Equipment
TOTAL FUNDS		 At
1/11/20
£
191,297
22,641
-
213,938
57,246
4,198
4,317
3,400,768
3,185
56,000
22,200
17,818
-
-
-
-
-
3,565,732
3,779,670		 Net
movement
in funds
£
(27,758)
-
3,250
(24,508)
7,663
(367)
-
47,578
(573)
-
(4,985)
-
3,000
7,500
10,000
6,617
4,185
80,618
56,110		 Transfers
between
funds
£
40,459
(22,641)
-
17,818
-
-
-
-
-
-
-
(17,818)
-
-
-
-
-
(17,818)
-		 At
31/10/21
£
203,998
-
3,250
207,248
64,909
3,831
4,317
3,448,346
2,612
56,000
17,215
-
3,000
7,500
10,000
6,617
4,185
3,628,532
3,835,780

continued...

Page 27

CHILDREN'S SAILING TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2022

17. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated Fund 2022 Sailing
Restricted funds
Boat and Equipment Fund
Toyota Parasport Fund Grant
Trevassack lake
Chandlery Fund
Youth Club (Trinity House)
Bruce Wake Ceiling Hoist
Bursary Fund
EKF Trevassack Sailing
RYA Foundation grant
TL Accommodation Equipment
TL Activity Equipment
TOTAL FUNDS		 Incoming
resources
£
275,340
3,250
278,590
17,000
-
96,222
-
-
3,000
7,500
10,000
3,000
6,617
4,185
147,524
426,114		 Resources
Movement
expended
in funds
£
£
(303,098)
(27,758)
-
3,250
(303,098)
(24,508)
(9,337)
7,663
(367)
(367)
(48,644)
47,578
(573)
(573)
(4,985)
(4,985)
-
3,000
-
7,500
-
10,000
(3,000)
-
-
6,617
-
4,185
(66,906)
80,618
(370,004)
56,110

continued...

Page 28

CHILDREN'S SAILING TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2022

17. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Designated Fund 2021 Sailing
Designated Fund 2022 Sailing
Designated 25th Anniversary Dinner
Designated Staff Welfare
Designated Bursary Fund
Restricted funds
Boat and Equipment Fund
Toyota Parasport Fund Grant
Sam Chamberlain - Prize Fund
Trevassack lake
Chandlery Fund
SEND Sailing Fund
Youth Club (Trinity House)
2021 Sailing
Bruce Wake Ceiling Hoist
Bursary Fund
EKF Trevassack Sailing
TL Activity Equipment
Christmas __@ TL 2021
Peter Harrison Foundation
Sports Foundation for Disabled
The National Lottery Community Fund
TOTAL FUNDS		 At
1/11/20
£
191,297
22,641
-
-
-
-
213,938
57,246
4,198
4,317
3,400,768
3,185
56,000
22,200
17,818
-
-
-
-
-
-
-
-
3,565,732
3,779,670		 Net
movement
in funds
£
(162,961)
-
82,593
126,412
5,000
-
51,044
(1,690)
(734)
-
(35,713)
(946)
(194)
(8,778)
-
2,940
7,500
10,000
3,441
1,327
22,470
17,880
15,325
32,828
83,872		 Transfers
between
funds
£
150,414
(22,641)
(82,593)
-
-
7,500
52,680
(2,617)
-
-
-
-
(13,418)
-
(17,818)
-
(7,500)
(10,000)
-
(1,327)
-
-
-
(52,680)
-		 At
31/10/22
£
178,750
-
-
126,412
5,000
7,500
317,662
52,939
3,464
4,317
3,365,055
2,239
42,388
13,422
-
2,940
-
-
3,441
-
22,470
17,880
15,325
3,545,880
3,863,542

continued...

Page 29

CHILDREN'S SAILING TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2022

17. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated Fund 2022 Sailing
Designated 25th Anniversary Dinner
Designated Staff Welfare
Restricted funds
Boat and Equipment Fund
Toyota Parasport Fund Grant
Trevassack lake
Chandlery Fund
SEND Sailing Fund
Youth Club (Trinity House)
Bruce Wake Ceiling Hoist
Bursary Fund
EKF Trevassack Sailing
RYA Foundation grant
TL Accommodation Equipment
TL Activity Equipment
Christmas __@ TL 2021
Peter Harrison Foundation
Sports Foundation for Disabled
The National Lottery Community Fund
TOTAL FUNDS		 Incoming
resources
£
439,794
82,596
182,150
-
704,540
17,000
-
134,397
-
-
-
3,000
7,500
10,000
3,000
6,617
5,312
1,668
25,000
25,805
17,000
256,299
960,839		 Resources
Movement
expended
in funds
£
£
(602,755)
(162,961)
(3)
82,593
(55,738)
126,412
5,000
5,000
(653,496)
51,044
(18,690)
(1,690)
(734)
(734)
(170,110)
(35,713)
(946)
(946)
(194)
(194)
(8,778)
(8,778)
(60)
2,940
-
7,500
-
10,000
(3,000)
-
(6,617)
-
(1,871)
3,441
(341)
1,327
(2,530)
22,470
(7,925)
17,880
(1,675)
15,325
(223,471)
32,828
(876,967)
83,872

Boat and Equipment Fund

This fund represents grants, donations and the proceeds from the sale of old boats and equipment, which are received specifically to meet expenditure to purchase new boats and equipment. The purchase of new boats has been capitalised as fixed assets. The annual depreciation charge for these assets is included under the charitable activity 'on the water costs'.

Toyota Parasport Fund Grant

This fund represents a grant from Toyota Parasport for the purchase of multi-person Stand Up Paddleboards. The purchase of these paddleboards was made during the year.

Sam Chamberlain - Prize Fund

This fund represents a donation from the family of Sam Chamberlain to enable trophies and certificates to be issued to the children that take part.

Trevassack Lake Fund

This fund represents donations and grants from government bodies, charities and individuals for the purchase and development of the site. This includes £285,000 from Clare Milne Trust and £290,000 from Bradbury Foundation.

Helford Village Changing Rooms

This fund represents donations for the provision of changing rooms at Helford Village.

continued...

Page 30

CHILDREN'S SAILING TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2022

17. MOVEMENT IN FUNDS - continued

Chandlery Fund

This fund represents donations for boat repairs and maintenance.

SEN Fund

This fund represents donations for the training of disabled children and children with special educational needs.

2021 Sailing

This fund represents donations for school sailing lessons in 2021.

Youth Club

This fund represents donations for the training of the Youth Sailing Group and Race Group.

Bruce Wake Ceiling Hoist

This fund represents a grant contribution towards the installation of a ceiling hoist and changing bench in the Learning Centre changing room at Trevassack Lake.

Bursary Fund

This fund represents a donation given with the desire to see a Bursary Fund set up and expanded over the years to fund holidays and activities at Trevassack Lake.

EKF Trevassack Sailing

This fund represents a donation from Emmanuel Kaye Foundation towards SEND watersports tuition at Trevassack Lake.

Trevassack Lake Accommodation Equipment

This fund represents donations received specifically to purchase accessibility equipment for three fully-accessible holiday houses at Trevassack Lake.

Trevassack Lake Activity Equipment

This fund represents donations for the purchase of a Hereford Hoist from Bruce Davis Trust and The Hedley Foundation.

Christmas @ TL 2021

This fund represents donations received specifically for the christmas event held in 2021.

Peter Harrison Foundation

This fund represents a grant from Peter Harrison Foundation for the purchase of enhancements to the facilities at the Trevassack Lake Centre. The purchase of an automatic barrier, CCTV system and blinds were purchased in the year.

Sports Foundation for Disabled

This fund represents a grant from Sports Foundation for the Disabled for the purchase of specialist equipment, watersports experiences and to create a bursary. The purchase of waterwheels wheelchairs and 1:1 watersports experiences were made during the year.

The National Lottery Community Fund

This fund represents a grant from The National Lottery Community Fund specifically for works completed to the beach at Trevassack Lake.

continued...

Page 31

CHILDREN'S SAILING TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2022

18. RELATED PARTY DISCLOSURES

Total donations of £34,439 (2021: £193,467) were given to the Charity in the year by trustees. This includes a donation in kind valued at £Nil (2021: £6,000) for the use of offices by the Charity during the year.

An amount of £Nil (2021: £4,600) was paid for professional services to Francis Clark LLP, a business in which a trustee is a partner.

At the year end £19,444 (2021: £30,000) of loans were due to the trustees, these are due to be paid back over 10 years with interest paid quarterly, at a rate of 3% per annum.

Remuneration and benefits paid to key management personnel during the year totalled £44,258 (2021: £42,734).

Page 32

CHILDREN'S SAILING TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2022

INCOME AND ENDOWMENTS
Donations and legacies
Individuals
Corporate bodies including charities
Gift aid
Grants
Other trading activities
Fundraising events
Schools
Other
Property licence
Management charge
Equipment hire
Sale of goods
Investment income
Deposit account interest
Interest receivable - trading
Other income
Gain on sale of tangible fixed assets
Total incoming resources
EXPENDITURE
Other trading activities
Fundraising event costs
Charitable activities
Wages
Insurance
Repairs & maintenance
Motor expenses
Freelance staff
Rent - moorings
Rent - storage
Staff training
Subscriptions
Service costs
Equipment
Carried forward		 2022
£
77,630
67,345
9,814
102,402
257,191
180,639
6,704
885
15,600
43,860
22,000
170
269,858
60
2,466
2,526
5,150
534,725
60,774
12,171
13,853
33,740
498
11,694
1,776
4,575
45
280
8,405
7,802
94,839		 2021
£
245,298
79,433
22,361
60,272
407,364
6,006
11,605
1,043
-
-
-
-
18,654
96
-
96
-
426,114
4,898
17,303
9,331
18,193
3,874
870
2,115
3,892
365
1,953
2,212
31,202
91,310

This page does not form part of the statutory financial statements

Page 33

CHILDREN'S SAILING TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 OCTOBER 2022
Charitable activities
Brought forward
Watersports activities
Freehold property
Plant and machinery
Fixtures and fittings
Loss on sale of tangible fixed assets
Support costs
Management
Wages
Rates and water
Telephone
Postage and stationery
Advertising
Mileage & travel
Recruitment
Office rent
Equipment rental
Training
Web support/design
Finance
Bank charges
Interest paid
Information technology
IT maintenance
Software & Licences
Computer equipment
Governance costs
Professional services
Accountancy and legal fees
Total resources expended
Net income		 2022
£
94,839
39,165
51,696
25,081
51,418
-
262,199
114,039
28,299
3,526
2,335
1,103
626
419
-
-
3,023
733
154,103
3,773
6,637
10,410
1,553
1,458
504
3,515
9,087
6,875
15,962
506,963
27,762		 2021
£
91,310
39,485
-
24,555
10,030
6,106
171,486
137,025
3,051
2,051
1,302
9,076
432
1,044
6,000
140
1,829
3,255
165,205
2,410
2,611
5,021
2,551
2,054
504
5,109
12,035
6,250
18,285
370,004
56,110

This page does not form part of the statutory financial statements

Page 34