## **Trustees' Annual Report for the period** Period start date Period end date 01[st] August 2021 31[st] July 2022 **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
3 Glen Taylor All year
4 Liam Dobbin All year
5 Ed Taylor All year
6
Vanessa Until April 2022
7
Hodgson
8 Kerry Pettitt Until April 2022
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 May **2023** **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** Foundation Model Constitution Type of governing document - (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; - relationship with any related parties; - trustees’ consideration of major risks and the system and procedures to manage them. Five 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 5. Majority vote (3 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. NOTE: two Trustees resigned this year and have moved into Ambassador status (Vanessa Hodgson and Kerry Pettitt). This due to their other work commitments and therefore time available to assist the charity. ## **Section C Objectives and activities** May **2023** **TAR** 2 - 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). **Summary of the objects of the charity set out in its governing document** - 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. **There has been no change to the Constitution dated March 2016** **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)** Post COVID and as the world slowly moved back to normal we were able to hold 5 events this year. ## **Seafarers Supper and brunch October 2021:** Due to the cancellation of our normal supper in April 2021 we decided to throw in an extra event in Palma which we linked to another yacht event. This was a Supper followed by a Brunch the next day. All possible because there was no yacht show for guests to have to dash off to. Funds were raised for 2 local charities. With a grand total of £17,359.00 **Antigua Sundowners Dec 04th 2021:** Was a great success and raised £7,650 for two Antiguan charitable causes. **SYC Ball – April 2022** The crowds came back with approximately 500 guests attending this years event and helping us raise funds for two UK based charities plus the SYC Cash4Causes fund. The evening raised a grand total of £86,885 **Seafarers Supper April 2022:** This event is held in Palma de Mallorca in conjunction with the Palma Yacht Show. Funds were raised for 2 local charities. A total of £18,681 ## **– M3 Car Rally July 2022** The second time this event took place and as hoped more attendees joined to help us make it another cracking day in the New Forest. The event was 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 £6,869.50. **Other costs** we burdened throughout the year included: Insurance £468 May **2023** **TAR** 3 MSFT / GoDaddy £798.00 Golf research trip £523.00 Save the Date cards £162.00 Bank charges / Sumup costs £ 243.00 As always and as per our personal agreement, no fees paid to any Trustees ## **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 many 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. May **2023** **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 raised a total of £137,444.50 We decided throughout the year to split the total and donate to the following charitable causes: Team Endeavour racing Oceans of Hope Yachting Gives Back Shambhala Foundation Antigua Environmental Awareness Group This resulted in total donations of £115,873 The balance of funds was retained in the Superyacht Charities Cash4Causes fund. Superyacht Charities wants to ensure that worthy causes receive funding to help the growth of smaller non-government funded not-for-profit organisations. 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 - To achieve this SYC has launched a new initiative starting in 2022, enabling the superyacht industry to support a broader charitable need. - This is known as ‘Cash4Causes’ - Rather than SYC selecting the charities and causes to support, we want charities to apply to us so that we can use our funds to make a difference. May **2023** **TAR** 5 ## **Section E Financial review** We hold a ‘reserves’ fund. **Brief statement of the** Monies that are not allocated to a specific cause but can be **charity’s policy on** dispersed to causes when the need arises. **reserves** 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 You **may choose** to include fund the organisation of events and pay for costs, such as venue additional information, deposits and Microsoft for email. where relevant about: The amount is £8,000 - the charity’s principal sources of funds We have a number of events planned for the period 1[st] August - (including any 2022 – 31[st] July 2023, including: fundraising); - how expenditure has SeaFarers GOLF – Palma – October 2022 supported the key Antigua Seafarers Cocktails – Antigua – December 2022 objectives of the charity; SYC Ball – Southampton – April 2023 SeaFarers Supper – Palma – April 2023 (back on schedule with - investment policy and Palma Superyacht Show) - objectives including any M3 Car Festival – New Forest – July 2023 - ethical investment policy adopted. ## **Section F Other optional information** There has been no change to the previous declaration that the CIO holds no Endowment Funds. ## **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. Trustee **Chair, etc) Date** 03rd May 2023 May **2023** **TAR** 6 ## **Superyacht Charities** **Registered Charity Number 1166259 Unaudited Financial Statements For the Year Ended 31 July 2022** **Superyacht Charities** ## **Contents of the Financial Statements for the Year Ended 31 July 2022** ||**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 -----**
……………………………………… ………………………………………
Chair Trustee
Dated Dated
22nd May 2023
…………………………………….. …………………………………….. 24th May 2023
**----- 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 2021 to 31[st] July 2022, 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: 22/05/2023 ## **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 2022** |**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**|**2021-22**
**£**
133,294
64,246
13
**197,554**
112,424
60,312
1,288
255
153
243
**174,675**
**22,879**|**_2020-21_**
**_£_**
_13,376_
_34,867_
_4_| |---|---|---| |||**_48,247_**| |||_40,442_
_5,603_
_1,074_
_260_
_6_
_37_| |||**_47,423_**| |||**_825_**| ## **Note on payments in advance** Income from Fundraising events includes monies received in advance of events being run in the following year – for 2021-22 this figure is £0 (2020-21: £2,500). 4 ## **Superyacht Charities** ## **Balance Sheet as at 31 July 2022** |**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**|**2021-22**
**£**
2,846
0
79,049
**81,895**
1,745
0
255
0
2,000
**79,895**
61,895
18,000
0
**79,895**|**_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_**| 5 **Superyacht Charities** ## **Notes to the Financial Statements** ## **for the year ended 31 July 2022** ## **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 2022** **Superyacht Charities** ## **Contents of the Financial Statements for the Year Ended 31 July 2022** ||**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 -----**
……………………………………… ………………………………………
Chair Trustee
Dated Dated
22nd May 2023
…………………………………….. …………………………………….. 24th May 2023
**----- 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 2021 to 31[st] July 2022, 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: 22/05/2023 ## **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 2022** |**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**|**2021-22**
**£**
133,294
64,246
13
**197,554**
112,424
60,312
1,288
255
153
243
**174,675**
**22,879**|**_2020-21_**
**_£_**
_13,376_
_34,867_
_4_| |---|---|---| |||**_48,247_**| |||_40,442_
_5,603_
_1,074_
_260_
_6_
_37_| |||**_47,423_**| |||**_825_**| ## **Note on payments in advance** Income from Fundraising events includes monies received in advance of events being run in the following year – for 2021-22 this figure is £0 (2020-21: £2,500). 4 ## **Superyacht Charities** ## **Balance Sheet as at 31 July 2022** |**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**|**2021-22**
**£**
2,846
0
79,049
**81,895**
1,745
0
255
0
2,000
**79,895**
61,895
18,000
0
**79,895**|**_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_**| 5 **Superyacht Charities** ## **Notes to the Financial Statements** ## **for the year ended 31 July 2022** ## **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