2020-07-31-accounts - Superyacht Charities

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Trustees' Annual Report for the period

Period start date 01[st] August 2019

Period end date 31[st] July 2020

From

Section A Reference and administration details

Charity name Other names charity is known by Registered charity number (if any) 1166259 Charity's principal address 60 Wellands Rd

Superyacht Charities

Lyndhurst Hants Postcode: SO43 7AD

Names of the charity trustees who manage the charity

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	Trustee name	Office (if any)	Dates acted if not for whole year	Name of person (or body) entitled to appoint trustee (ifany)
	Derek Munro	Chair
	Ken Hickling
	Vanessa Hodgson
	KerryPettitt
	Glen Taylor
	Liam Dobbin
	Ed Taylor

Names of the trustees for the charity, if any, (for example, any custodian trustees)

Name	Dates acted if not for whole year
NA

TAR

March 2012

Names and addresses of advisers (Optional information)

Type of adviser Name Address

Name of chief executive or names of senior staff members (Optional information)

Section B Structure, governance and management

Description of the charity’s trusts

Type of governing document

Foundation Model Constitution

(eg. trust deed, constitution) Charitable Incorporated Organisation How the charity is constituted

(eg. trust, association, company)

Appointed by other Trustees Trustee selection methods

(eg. appointed by, elected by)

Additional governance issues (Optional information)

You may choose to include additional information, where relevant, about:

Majority vote (4 or more) means approval.

policies and procedures adopted for the induction and training of trustees;
the charity’s organisational structure and any wider network with which the charity works;
relationship with any related parties;
trustees’ consideration of major risks and the system and procedures to manage them.

Section C Objectives and activities

Summary of the objects of the charity set out in its governing document

1) The relief of those in need, by reason of youth, age, ill-health, disability, financial hardship or other disadvantage living in Third World countries (including but not limited to those in the Pacific Ocean, the Caribbean Sea and Indian Ocean).
2) To relieve the needs of people suffering from cancer, and to protect and promote good health among people suffering from cancer, their families and carers, in such ways as the trustees shall determine.

TAR

March 2012

Winter Ball 2019

This was a new event held in London in early December. We found that ticket/sponsorship sales where much harder to achieve for this event, and numbers were lower than we had hoped. Event expenses £42,564 (includes £9375 deposit paid in previous financial period) Event income Ticket/sponsorship £33,570 Loss £ 8,878 This loss has been accepted. Raffle/games/donations on the night £5,163 Received from FR Events £11,421 (FREvents are in court for fraud and Summary of the main theft of charitable funds from a great number of charities) activities undertaken for the public benefit in relation to these objects (include within March Ball 2020 this section the statutory This was the to be the 5[th] Ball we had held in Southampton. declaration that trustees have As Covid news started to swirl, we had lots of European Companies had regard to the guidance banning travel, and it became clear that holding the event was going to issued by the Charity be a challenge. Commission on public Even though we postponed the event our guests still Donated £15,063 benefit)

Seafarers Super in Palma ,

A repeat of the successful 2019 Seafarers supper was to be held to coincide with the Palma Boat show. Unfortunately this event was also cancelled for this year and postponed until 2021.

SYC Golf event

First of a hopefully to be repeated, Golf event for local Supporters. £595 raised

Additional details of objectives and activities (Optional information)

We support Charitable causes that do not receive any Government funding and that can prove to us that more than 90% of all funds they receive are spent on the cause they support ie: no large salary packages to staff.

At this stage there are no funds to use for investment.

You may choose to include

further statements, where relevant, about:

We have a few volunteers that help us set up for our event and help us promote our event within our industry.

Without our numerous volunteers we would struggle to put on our many events internationally.

policy on grantmaking;
policy programme related investment;

All funds raised during the our Events are to be disbursed to the various charities listed and selected by the Trustees once confirmed that they meet our above pre-requisites.

contribution made by volunteers.

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March 2012

Section D Achievements and performance

Summary of the main achievements of the charity during the year		Grants Agreed in This Financial Period October 2019 Sail 4 Cancer £5000 May 2020 Wet Wheels £5850 July 2020 Wet Wheels £10,619

TAR

March 2012

Section D Achievements and erformance p

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March 2012

Section E Financial review

Brief statement of the charity’s policy on reserves

At the 15 May 2020 meeting it was agreed that we will hold a ‘reserves’ fund. Monies that are not allocated to a specific cause but can be dispersed to causes when the need arises. The amount of £10,000, was agreed.

Details of any funds materially in deficit

Further financial review details (Optional information)

You may choose to include additional information, where relevant about:

the charity’s principal sources of funds (including any fundraising);
how expenditure has supported the key objectives of the charity;

At the July meeting, it was agreed that we need an Operating balance, which allows the charity to fund the organisation of events and pay for costs, such as venue deposits and Microsoft for email.

The amount agreed was £8,000

We have a number of events planned for once Pandemic travel and social distancing rules are relaxed and people can get together.

investment policy and objectives including any ethical investment policy adopted.

Section F Other optional information

Section G Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Derek LY Munro Position (eg Secretary, Chair, Chair. Trustee etc) Date 14th April 2021

TAR

March 2012

Superyacht Charities Registered Charity Number 1166259 Unaudited Financial Statements For the Year Ended 31 July 2020

Superyacht Charities Contents of the Financial Statements for the Year Ended 31 July 2020 Page Approval Statement Independent Examiner's Report Income & Expenditure Account Balance Sheet Notes to the Financial Statements

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Digitally signed by Derek Munro
Personal
DN: cn=Derek Munro Personal,
o, ou=Personal,
email=Derek@divergentyachtin
g.com, c=GB
Date: 2021.05.28 11:27:42
+01'00'
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27th May 2021
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Superyacht Charities Independent Examiner's Report I report on the accounts of the above CIO for the Period from 1 St August 2019 to 31st July 2020, the financial statements of which are set out on the following pages. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the ACY,). The charity's trustees consider that an audit is not required for this year under section 144(2) of the Act and that an independent examination is needed. It is my responsibility to: examine the accounts under section 145 of the Act; to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Act; and to state whether particular matters have come to my attention. Basis of independent examiner's report My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the eviden that would be required in an audit, and the report is limited to those matters set out in the statement below. Independent examinerfs statement In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect: the accounting records were not kept in accordance with section 130 of the Act. or the accounts did not accord with the accounting records; or I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Dated Michael John Harris M J Harris Solutions 18a Church Road Bishopstoke Eastleigh S050 6BH

Superyacht Charities Income and Expenditure Account for the year ended 31 July 2020 2019-20 2018-19 See Note 1 INCOME Fundraising events Gifts & donations 49,676 15,063 20 161,676 8,448 37 Bank interest Total Income 65,759 170,161 EXPENDITURE Awards & grants Fundraising expenses Grants and donations Office expenses Accountancy Bad debts written-off 21,469 40,829 993 105,479 63,299 4,049 427 1,544 200 195 94 176 Bank & credit charges Total Expenditure 80 567 65,209 174,191 NET EXCESS (DEFICIT) OF INCOME LESS EXPENDITURE 550 (4,030) Note on revenue not recognized Additional revenue of £11,421 from event auction sales held by the auctioneer acting as agent to the Charity could not be recognized in these accounts. The agent, Funraising Events Limited TIA F R Events (in liquidation), did not distribute revenue to the Charity representing 50 % of the full amount expected from it. The Charity considers there is no prospect of reIving any of this revenue, either from the Liquidators or from the former Directors of the Company or redistributed from any creditors which attended the event and were later reimbursed.

Superyacht Charities Balance Sheet as at 31 July 2020 2019-20 2018-19 CURRENT ASSETS Trade Debtors 2,292 Accounts receivable 650 Cash at bank 56,561 79,675 82,617 Total Current Assets 56,561 CURRENT LIABILITIES Trade Creditors Accounts payable Provision for accountancy Provision for doubtful debts 170 26, 782 200 195 Total Current Liabilities 370 26,977 NET ASSETS (LIABILITIES)- See Notes 2 & 3 56,191 55.640 FINANCED BY FUNDS OF THE CIO- See Note 4 Unrestricted Funds 38,191 55,640 Unrestricted Reserves 18,000 Restricted Funds Total Funds 56,191 55,640

Superyacht Charities Notes to the Financial Statements for the year ended 31 July 2020 1 Accounting Basis The accounts have been compiled on a receipts and payments basis, and on a going concem basis. The accounts have been prepared in accordance the Charities Act 2011, and section 62 of the Charitable Incorporated Organizations (General) Regulations 2012. The accounting period covers 12 months from 1 August 2019 to 31 July 2020. In the Prior Year, the Year-end was changed to 31 July 2019 so that both the income and expenditure for the principal activities (a ball in March) are more fully reported in the same accounting period. That penod therefore, for comparison, covered the 16 months from I April 2018 to 31 July 2019. 2 Non-current Assets Superyacht Charities holds no Fixed Assets. 3 Endowment Funds Superyacht Charities holds no Endowment Funds. 4 Guarantees and Secured Liabilities There are no liabilities for which a guarantee has been given by Superyacht Charities or is outstanding, nor debts secured by an express charge on any of its assets. 5 Reserves It is the Charity's policy to hold reserves of £18,000 which includes £10,000 in a designated relief fund for grant-giving purposes.