## **Trustees' Annual Report for the period** Period start date Period end date 01[st] August 2020 31[st] July 2021 **From** **To** ## Section A Reference and administration details **Charity name** Superyacht Charities **Other names charity is known by** NA **Registered charity number (if any)** 1166259 **Charity's principal address** 60 Wellands Rd Lyndhurst Hants **Postcode: SO43 7AD** ## **Names of the charity trustees who manage the charity** **----- Start of picture text -----**
Name of person (or body)
Dates acted if not for
Trustee name Office (if any) entitled to appoint trustee
whole year
(if any)
1 Derek Munro Chair All year
2 Ken Hickling All year
Vanessa All year
3
Hodgson
4 Kerry Pettitt All year
5 Glen Taylor All year
6 Liam Dobbin All year
7 Ed Taylor All year
8
10
11
12
13
14
15
16
17
18
19
20
**----- End of picture text -----**
## **Names of the trustees for the charity, if any, (for example, any custodian trustees)** **Name Dates acted if not for whole year** NA March **2012** **TAR** 1 ## **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: - 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; Seven volunteer Trustees for the past year. No Trustee has ever been paid for their services, as the Charity relies fully on volunteers from the top to the bottom. Total Trustees is 7. Majority vote (4 or more) means approval. All our events are overseen by a chosen Trustee, assisted by the other Trustees as required and supported by a team of volunteers depending on location and the size of the event. - relationship with any related parties; - trustees’ consideration of major risks and the system and procedures to manage them. ## **Section C Objectives and activities** March **2012** **TAR** 2 **Summary of the objects of the charity set out in its governing document** **Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)** - 1) The relief of those in need, by reason of youth, age, illhealth, 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. Due to the COVID pandemic our fund-raising events and efforts were severely restricted this year. **7 C’s Challenge – September 2020** Like so many others, SYC had seen our plans for 2020 completely overturned by COVID-19, While this was not such a disaster for us, the charities we support are suffering greatly from a significant reduction in funding support. So, we determined that if we cannot run our events as usual, we will explore other ways to raise money for these worthy causes. Our 7C’s challenge designed for remote team participation. The ‘Covid Confinement Cancelled Chowdown Charity Cash Challenge!’. The Trustees and Ambassadors of SYC challenged themselves to Run, Ride and Row the distance between Southampton and Palma – the locations of our two events cancelled during the COVID-19 lockdown – for a total of 1169 miles: 131 by sea and 1038 by land. In terms of income we generated £15,000. **SYC Ball – March 2021** Sadly due to COVID this event had to be cancelled for safety reasons. **Seafarers Supper** Sadly due to COVID this event had to be cancelled for safety reasons. ## **– M3 Car Rally July 2021** This was an inaugural event for SYC, as it allowed an outdoor / safe event to take place despite the incumbent COVID issues. The event was essentially a ‘Poker Run’ around various checkpoints in the New Forest, hosted by businesses in the local area, with a prize for the best ‘gas guzzler’ and for the ‘green gem’. Post the event we congregated Ashurst to indulge in afternoon tea, some live music and some drinks. We generated £5946.50. **Other costs** we burdened throughout the year included stickers for events and roller banners totalling £567.00. **Other income** we received during the year was an extremely generous donation from Medical Support Offshore of £20,000. This will be used to make a donation to Sail4Help but we are waiting for them to complete their charity registration. March **2012** **TAR** 3 ## **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; - contribution made by volunteers. All funds raised during 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. March **2012** **TAR** 4 Section D Achievements and performance ## **Summary of the main achievements of the charity during the year** ## **Grants Agreed in This Financial Period** Resulting from the above fundraising activities we decided to split £30,000 of donations equally in 4 ways. Team Endeavour racing - £7500 Oceans of Hope - £7500 Yachting Gives Back - £7500 Shambhala Foundation - £6942 (as we paid in Euro’s) We also agreed on April 4[th] 2021 in trustee communications to use our SYC reserve fund to donate a further £7000 to the Roseland Youth Trust and a further £4000 to the Blind at Sea. This resulted in total donations of £40,442 March **2012** **TAR** 5 Section D Achievements and performance ## **Section E Financial review** March **2012** **TAR** 6 ## **Brief statement of the charity’s policy on reserves** We 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 is always held and topped up from events. **Details of any funds materially in deficit** NA ## **Further financial review details (Optional information)** We also hold 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 is £8,000 You **may choose** to include additional information, where relevant about: - the charity’s principal sources of funds (including any fundraising); We have a number of events planned for the period 1[st] August 2021 – 31[st] July 2022, including: SeaFarers Supper – Palma – October 2021 Antigua Seafarers Cocktails – Antigua – December 2021 SYC Ball – Southampton – April 2022 - how expenditure has supported the key objectives of the charity; SeaFarers Supper – Palma – April 2022 (back on schedule with Palma Superyacht Show) - investment policy and Palma Superyacht Show) - objectives including any M3 Car Festival – New Forest – July 2022 - 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** **----- Start of picture text -----**
Signature(s)
Full name(s) Derek LY Munro
Position (eg Secretary, Chair. Trustee
Chair, etc)
Date 11th April 2022
**----- End of picture text -----**
March **2012** **TAR** 7 ## **Superyacht Charities** **Registered Charity Number 1166259 Unaudited Financial Statements For the Year Ended 31 July 2021** **Superyacht Charities** ## **Contents of the Financial Statements for the Year Ended 31 July 2021** ||**Page**| |---|---| |**Approval Statement**|**2**| |**Independent Examiner’s Report**|**3**| |**Income & Expenditure Account**|**4**| |**Balance Sheet**|**5**| |**Notes to the Financial Statements**|**6**| 1 ## **Superyacht Charities** ## **Approval Statement** I approve these financial statements which comprise the Income and Expenditure Account, Balance Sheet, and the related notes. The Trustees acknowledge their responsibility for these financial statements including the appropriateness of the accounting basis, and the review of this accounting period, as set out in Note 1, and for providing all the information and explanations necessary for their compilation. **----- Start of picture text -----**
Digitally signed by Derek Munro
Personal
DN: cn=Derek Munro Personal, o,
ou=Personal,
email=Derek@divergentyachting.
com, c=GB
Date: 2022.05.31 09:24:21 +01'00'
……………………………………… ………………………………………
Chair Trustee
Dated Dated
31.05.2022
31-05-2022
…………………………………….. ……………………………………..
**----- End of picture text -----**
2 **Superyacht Charities** ## **Independent Examiner’s Report** I report on the accounts of the above CIO for the Period from 1[st] August 2020 to 31[st] July 2021, 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 Act”). 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 evidence that would be required in an audit, and the report is limited to those matters set out in the statement below. ## **Independent examiner’s 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: 25/5/22 ## **Michael John Harris MIAB** M J Harris Solutions 18a Church Road Bishopstoke Eastleigh SO50 6BH 3 ## **Superyacht Charities** ## **Income and Expenditure Account** ## **for the year ended 31 July 2021** |**INCOME**
Fundraising events (see Note)
Gifts & donations
Bank interest
**Total Income**
**EXPENDITURE**
Awards & grants
Fundraising expenses
Grants and donations
Office expenses
Accountancy
Bad debts written-off
Bank & credit charges
**Total Expenditure**
**NET EXCESS (DEFICIT) OF INCOME LESS EXPENDITURE**|**2020-21**
**£**
13,376
34,867
4
**48,247**
40,442
5,603
1,074
260
6
37
**47,423**
**825**|**_2019-20_**
**_£_**
_49,676_
_15,063_
_20_| |---|---|---| |||**_65,759_**| |||_21,469_
_40,829_
_993_
_1,544_
_200_
_94_
_80_| |||**_65,209_**| |||**_550_**| ## **Note on payments in advance** Income from Fundraising events includes monies received in advance of events being run in the following year – for 2020-21 this figure is £2,500. 4 ## **Superyacht Charities** ## **Balance Sheet as at 31 July 2021** |**CURRENT ASSETS**
Trade Debtors
Accounts receivable
Cash at bank
**Total Current Assets**
**CURRENT LIABILITIES**
Trade Creditors
Accounts payable
Provision for accountancy
Provision for doubtful debts
**Total Current Liabilities**
**NET ASSETS (LIABILITIES) – See Notes 2 & 3**
**FINANCED BY**
**FUNDS OF THE CIO - See Note 4**
Unrestricted Funds
Unrestricted Reserves
Restricted Funds
**Total Funds**|**2020-21**
**£**
900
4,785
52,593
**58,278**
1,038
0
225
0
1,263
**57,015**
39,015
18,000
0
**57,015**|**_2019-20_**
**_£_**
_0_
_0_
_56,561_| |---|---|---| |||**_56,561_**| |||_0_
_170_
_200_
_0_| |||_370_| |||**_56,191_**| |||_38,191_
_18,000_
_0_
**_56,191_**| 5 **Superyacht Charities** ## **Notes to the Financial Statements** ## **for the year ended 31 July 2021** ## **1 Accounting Basis** The accounts have been compiled on a receipts and payments basis, and on a going concern basis. The accounts have been prepared in accordance the Charities Act 2011, and section 62 of the Charitable Incorporated Organizations (General) Regulations 2012. ## **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. 6 ## **Superyacht Charities** **Registered Charity Number 1166259 Unaudited Financial Statements For the Year Ended 31 July 2021** **Superyacht Charities** ## **Contents of the Financial Statements for the Year Ended 31 July 2021** ||**Page**| |---|---| |**Approval Statement**|**2**| |**Independent Examiner’s Report**|**3**| |**Income & Expenditure Account**|**4**| |**Balance Sheet**|**5**| |**Notes to the Financial Statements**|**6**| 1 ## **Superyacht Charities** ## **Approval Statement** I approve these financial statements which comprise the Income and Expenditure Account, Balance Sheet, and the related notes. The Trustees acknowledge their responsibility for these financial statements including the appropriateness of the accounting basis, and the review of this accounting period, as set out in Note 1, and for providing all the information and explanations necessary for their compilation. **----- Start of picture text -----**
Digitally signed by Derek Munro
Personal
DN: cn=Derek Munro Personal, o,
ou=Personal,
email=Derek@divergentyachting.
com, c=GB
Date: 2022.05.31 09:24:21 +01'00'
……………………………………… ………………………………………
Chair Trustee
Dated Dated
31.05.2022
31-05-2022
…………………………………….. ……………………………………..
**----- End of picture text -----**
2 **Superyacht Charities** ## **Independent Examiner’s Report** I report on the accounts of the above CIO for the Period from 1[st] August 2020 to 31[st] July 2021, 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 Act”). 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 evidence that would be required in an audit, and the report is limited to those matters set out in the statement below. ## **Independent examiner’s 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: 25/5/22 ## **Michael John Harris MIAB** M J Harris Solutions 18a Church Road Bishopstoke Eastleigh SO50 6BH 3 ## **Superyacht Charities** ## **Income and Expenditure Account** ## **for the year ended 31 July 2021** |**INCOME**
Fundraising events (see Note)
Gifts & donations
Bank interest
**Total Income**
**EXPENDITURE**
Awards & grants
Fundraising expenses
Grants and donations
Office expenses
Accountancy
Bad debts written-off
Bank & credit charges
**Total Expenditure**
**NET EXCESS (DEFICIT) OF INCOME LESS EXPENDITURE**|**2020-21**
**£**
13,376
34,867
4
**48,247**
40,442
5,603
1,074
260
6
37
**47,423**
**825**|**_2019-20_**
**_£_**
_49,676_
_15,063_
_20_| |---|---|---| |||**_65,759_**| |||_21,469_
_40,829_
_993_
_1,544_
_200_
_94_
_80_| |||**_65,209_**| |||**_550_**| ## **Note on payments in advance** Income from Fundraising events includes monies received in advance of events being run in the following year – for 2020-21 this figure is £2,500. 4 ## **Superyacht Charities** ## **Balance Sheet as at 31 July 2021** |**CURRENT ASSETS**
Trade Debtors
Accounts receivable
Cash at bank
**Total Current Assets**
**CURRENT LIABILITIES**
Trade Creditors
Accounts payable
Provision for accountancy
Provision for doubtful debts
**Total Current Liabilities**
**NET ASSETS (LIABILITIES) – See Notes 2 & 3**
**FINANCED BY**
**FUNDS OF THE CIO - See Note 4**
Unrestricted Funds
Unrestricted Reserves
Restricted Funds
**Total Funds**|**2020-21**
**£**
900
4,785
52,593
**58,278**
1,038
0
225
0
1,263
**57,015**
39,015
18,000
0
**57,015**|**_2019-20_**
**_£_**
_0_
_0_
_56,561_| |---|---|---| |||**_56,561_**| |||_0_
_170_
_200_
_0_| |||_370_| |||**_56,191_**| |||_38,191_
_18,000_
_0_
**_56,191_**| 5 **Superyacht Charities** ## **Notes to the Financial Statements** ## **for the year ended 31 July 2021** ## **1 Accounting Basis** The accounts have been compiled on a receipts and payments basis, and on a going concern basis. The accounts have been prepared in accordance the Charities Act 2011, and section 62 of the Charitable Incorporated Organizations (General) Regulations 2012. ## **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. 6