|||**Trustees' Annual Report**|**Trustees' Annual Report**|**Trustees' Annual Report**|**Trustees' Annual Report**|**Trustees' Annual Report**|**for theperiod**|**for theperiod**|**for theperiod**| |---|---|---|---|---|---|---|---|---|---| |||**From**|Period start date|||**To**|Period end date||| ||||01st|August|2022||31st|July|2023| ## Section A Reference and administration details **Charity name** Superyacht Charities **Other names charity is known by Registered charity number (if any)** 1166259 NA **Charity's principal address** 60 Wellands Rd Lyndhurst Hants **Postcode: SO43 7AD** ## **Names of the charity trustees who manage the charity** |1
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**to appoint trustee (ifany)**| |---|---|---|---|---| ||Derek Munro|Chair|Allyear|| ||Ken Hickling||Allyear|| ||Glen Taylor|Treasurer|Allyear|| ||Liam Dobbin||Allyear|| ||Ed Taylor||Allyear|| |||||| ||Vanessa Hodgson||Until April 2022|| ||KerryPettitt||Until April 2022|| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| ## **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: 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. - policies and procedures adopted for the induction and Total Trustees is 5. training of trustees; Majority vote (3 or more) means approval. - the charity’s organisational structure and any wider All our events are overseen by a chosen Trustee, assisted by the other - network with which the charity Trustees as required and supported by a team of volunteers depending on - works; 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** - 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). **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** May **2023** **TAR** 2 5 events held this year. ## **Palma Golf October 2022:** 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 £29,000 **Antigua Sundowners Dec 04th 2022:** Was a great success and raised £7,240 for two Antiguan charitable causes. ## **SYC Ball – April 2023** The crowds came back with approximately 500 guests attending this **Summary of the main** years event and helping us raise funds for two UK based charities plus **activities undertaken for the** the SYC Cash4Causes fund. **public benefit in relation to** The evening raised a grand total of £95,436 **these objects (include within this section the statutory Seafarers Supper April 2023: declaration that trustees have** This event is held in Palma de Mallorca in conjunction with the Palma **had regard to the guidance** Yacht Show. **issued by the Charity** Funds were raised for 2 local charities. **Commission on public** A total of £33,699 **benefit)** ## **M3 Car Rally July 2023** The event was cancelled due to weather but thanks to generous supporters, the sum of £1,850 was left in for us to use to donate to our charities. **Other costs** we burdened throughout the year included: Insurance £468 Office expenses £1,167.00 Save the Date cards £162.00 Bank charges / Sumup costs £ 83.00 As always and as per our personal agreement, no fees paid to any Trustees ## **Additional details of objectives and activities (Optional information)** May **2023** **TAR** 3 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 All funds raised during our Events are to be disbursed to the various charities listed and selected by the Trustees once confirmed that they - investment; meet our above pre-requisites. - contribution made by volunteers. ## Section D Achievements and performance May **2023** **TAR** 4 Section D Achievements and performance **Grants Agreed in This Financial Period Summary of the main achievements of the charity** Resulting from the above fundraising activities we raised a total of **during the year** £204,882 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 GLIM Antigua This resulted in total donations of £126,907 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. ## **Section E Financial review** May **2023** **TAR** 5 We hold a ‘reserves’ fund. ## **Brief statement of the charity’s policy on reserves** 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 2023 – - any fundraising); 31[st] July 2024, including: - how expenditure has supported the key objectives SeaFarers GOLF – Palma – October 2023 of the charity; Antigua Seafarers Cocktails – Antigua – December 2023 SYC Ball – Southampton – March 2024 - investment policy and SeaFarers Supper – Palma – April 2024 (on schedule with Palma - objectives including any Superyacht Show) - ethical investment policy M3 Car Festival – New Forest – July 2024 - 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)**
**Position (eg Secretary, Chair,**
**etc)**
**Date**||| |---|---|---| ||Derek LY Munro|| ||Chair.|Trustee| ||31stMay 2024|| May **2023** **TAR** 6 E-Sign ID: c5575924-786b-4b4f-9d21-a1cfcdfaeaeb Superyacht Charities Registered Charity Number 1166259 Audited Financial Statements For the Year Ended 31 July 2023 E-Sign ID: c5575924-786b-4b4f-9d21-a1cfcdfaeaeb ## **Superyacht Charities** Contents of the Financial Statements for the Year Ended 31 July 2023 |Approval Statement|2| |---|---| |Independent Examiner’s Report|3| |Income & Expenditure Account|4| |Balance Sheet|5| |Notes to the Financial Statements|6| 1 E-Sign ID: c5575924-786b-4b4f-9d21-a1cfcdfaeaeb ## **Superyacht Charities** Approval Statement I approve these financial statements for YE 31 July 2023 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. D Munro 21/05/2024 12:49:54 ………………………………………….. ……………………………………… Chair Trustee Dated Dated 21/05/2024 ………………………………………….. ……………………………………… 2 E-Sign ID: c5575924-786b-4b4f-9d21-a1cfcdfaeaeb ## **Superyacht Charities** ## **Independent Examiner’s Report** I report on the accounts of Superyacht Charities, for the period 1 August 2022 to 31 July 2023. The financial statements of which, are set out on the following pages. ## **Respective Responsibilities of Trustees and Examiners** The Charity trustees are responsible for the preparation of the accounts, in accordance with the requirements of the Charities Act 2011 (“the Act”). I confirm that I am qualified to undertake the examination, because I am a member of the Association of Chartered Certified Accountants. It is my responsibility to: - Examine the accounts under Section 145 of the Act - Follow the procedures laid down in the generation directions, given by the Charity Commission, under section 145 of the Act, and state whether particular matters have come to my attention. ## **Basis of the Independent Examiner’s Report (Audit).** 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. ## **Independent Examiner’s Statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect: 1. Accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2. The accounts do not accord with those records; or 3. The accounts do not comply with the accounting requirements of section 396 of the 2006 Act, other than any requirement that the records give a “true and fair view” which is not a matter considered part of an independent examiner; or 4. The accounts have not been prepared in accordance with the methods and principles of the statement of Recommended Practice for accounting and reporting by charities (applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). 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: 21 May 2024 C A Milner, FCCA Accord Accountants – Chartered Certified Accountants 3 E-Sign ID: c5575924-786b-4b4f-9d21-a1cfcdfaeaeb ## **Superyacht Charities** Income and Expenditure Account For the year ended 31 July 2023 ||2022-23|2021-22| |---|---|---| |**Income**|£|£| |Fundraising events|204,882|133,294| |Gifts & Donations|102,545|64,246| |Bank interest|476|13| |Total Income|307,903|197,554| |**Expenditure**|£|£| |Awards & grants|126,907|112,424| |Fundraising expenses|134,536|60,312| |Grants & donations||| |Office expenses|1,167|1,288| |Accountancy|480|255| |Bad debts written off|77|153| |Bank & credit charges|83|243| |Total Expenditure|263,250|174,675| |**Net Excess (deficit) of income less expenditure 44,653**||**22,879**| 4 E-Sign ID: c5575924-786b-4b4f-9d21-a1cfcdfaeaeb ## **Superyacht Charities** Balance Sheet As at 31 July 2023 ||2022-23|2021-22| |---|---|---| ||£|£| |**CURRENT ASSETS**||| |Trade Debtors|3,244|2,846| |Cash at bank|122,382|79,049| |Total Current Assets|125,626|81,895| |**CURRENT LIABILITIES**||| |Trade Creditors|598|1,745| |Provision for accountancy|480|255| |Provision for doubtful debts|0|0| |Total Current Liabilities|1,078|2,000| |NET ASSETS (LIABILITIES) – See Notes 2&3|124,548|79,895| |FINANCED BY||| |FUNDS OF THE CIO – See Note 4||| |Unrestricted Funds|106,548|61,895| |Unrestricted Reserves|18,000|18,000| |Restricted Funds|0|0| |Total Funds|124,548|79,895| 5 E-Sign ID: c5575924-786b-4b4f-9d21-a1cfcdfaeaeb ## **Superyacht Charities** Notes to the Financial Statements For the Year Ended 31 July 2023 ## 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 with the Charities Act 2011 and section 62 of the Charitable Incorporated Organisations (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 This Document has been Signed with a **secure electronic signature** via E-Sign. ## **Envelope Details** |**Title**|Superyacht Charities| |---|---| |**Author**|Rebecca Bundock (rebecca@accordaccountants.co.uk)| |**Envelope Created on**|Tue, 21 May 2024 11:37:51| |**Envelope ID**|c5575924-786b-4b4f-9d21-a1cfcdfaeaeb| ## **Document Details** |**Title**|Accounts_2023_Superyacht_Charities.doc.pdf| |---|---| |**Digital Fingerprint**|d6d3f5a8-06d6-46e3-981d-49e4f99baaaf| **Document Signers** Scan/Click the QR Code to view signature information |**Name**|**D Munro**| |---|---| |**Email**|derek@superyachtcharities.com| |**Status**|**SIGNED**at Tue, 21 May 2024 12:49:54 BST(+0100)| |**Signature Fingerprint**|395dd022-33ee-492d-b680-28156a557092| ## **Document History** **Tue, 21 May 2024 12:49:55 D Munro** Signed the Document (IP: 87.75.224.4) E-Sign ID: c5575924-786b-4b4f-9d21-a1cfcdfaeaeb Superyacht Charities Registered Charity Number 1166259 Audited Financial Statements For the Year Ended 31 July 2023 E-Sign ID: c5575924-786b-4b4f-9d21-a1cfcdfaeaeb ## **Superyacht Charities** Contents of the Financial Statements for the Year Ended 31 July 2023 |Approval Statement|2| |---|---| |Independent Examiner’s Report|3| |Income & Expenditure Account|4| |Balance Sheet|5| |Notes to the Financial Statements|6| 1 E-Sign ID: c5575924-786b-4b4f-9d21-a1cfcdfaeaeb ## **Superyacht Charities** Approval Statement I approve these financial statements for YE 31 July 2023 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. D Munro 21/05/2024 12:49:54 ………………………………………….. ……………………………………… Chair Trustee Dated Dated 21/05/2024 ………………………………………….. ……………………………………… 2 E-Sign ID: c5575924-786b-4b4f-9d21-a1cfcdfaeaeb ## **Superyacht Charities** ## **Independent Examiner’s Report** I report on the accounts of Superyacht Charities, for the period 1 August 2022 to 31 July 2023. The financial statements of which, are set out on the following pages. ## **Respective Responsibilities of Trustees and Examiners** The Charity trustees are responsible for the preparation of the accounts, in accordance with the requirements of the Charities Act 2011 (“the Act”). I confirm that I am qualified to undertake the examination, because I am a member of the Association of Chartered Certified Accountants. It is my responsibility to: - Examine the accounts under Section 145 of the Act - Follow the procedures laid down in the generation directions, given by the Charity Commission, under section 145 of the Act, and state whether particular matters have come to my attention. ## **Basis of the Independent Examiner’s Report (Audit).** 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. ## **Independent Examiner’s Statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect: 1. Accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2. The accounts do not accord with those records; or 3. The accounts do not comply with the accounting requirements of section 396 of the 2006 Act, other than any requirement that the records give a “true and fair view” which is not a matter considered part of an independent examiner; or 4. The accounts have not been prepared in accordance with the methods and principles of the statement of Recommended Practice for accounting and reporting by charities (applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). 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: 21 May 2024 C A Milner, FCCA Accord Accountants – Chartered Certified Accountants 3 E-Sign ID: c5575924-786b-4b4f-9d21-a1cfcdfaeaeb ## **Superyacht Charities** Income and Expenditure Account For the year ended 31 July 2023 ||2022-23|2021-22| |---|---|---| |**Income**|£|£| |Fundraising events|204,882|133,294| |Gifts & Donations|102,545|64,246| |Bank interest|476|13| |Total Income|307,903|197,554| |**Expenditure**|£|£| |Awards & grants|126,907|112,424| |Fundraising expenses|134,536|60,312| |Grants & donations||| |Office expenses|1,167|1,288| |Accountancy|480|255| |Bad debts written off|77|153| |Bank & credit charges|83|243| |Total Expenditure|263,250|174,675| |**Net Excess (deficit) of income less expenditure 44,653**||**22,879**| 4 E-Sign ID: c5575924-786b-4b4f-9d21-a1cfcdfaeaeb ## **Superyacht Charities** Balance Sheet As at 31 July 2023 ||2022-23|2021-22| |---|---|---| ||£|£| |**CURRENT ASSETS**||| |Trade Debtors|3,244|2,846| |Cash at bank|122,382|79,049| |Total Current Assets|125,626|81,895| |**CURRENT LIABILITIES**||| |Trade Creditors|598|1,745| |Provision for accountancy|480|255| |Provision for doubtful debts|0|0| |Total Current Liabilities|1,078|2,000| |NET ASSETS (LIABILITIES) – See Notes 2&3|124,548|79,895| |FINANCED BY||| |FUNDS OF THE CIO – See Note 4||| |Unrestricted Funds|106,548|61,895| |Unrestricted Reserves|18,000|18,000| |Restricted Funds|0|0| |Total Funds|124,548|79,895| 5 E-Sign ID: c5575924-786b-4b4f-9d21-a1cfcdfaeaeb ## **Superyacht Charities** Notes to the Financial Statements For the Year Ended 31 July 2023 ## 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 with the Charities Act 2011 and section 62 of the Charitable Incorporated Organisations (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 This Document has been Signed with a **secure electronic signature** via E-Sign. ## **Envelope Details** |**Title**|Superyacht Charities| |---|---| |**Author**|Rebecca Bundock (rebecca@accordaccountants.co.uk)| |**Envelope Created on**|Tue, 21 May 2024 11:37:51| |**Envelope ID**|c5575924-786b-4b4f-9d21-a1cfcdfaeaeb| ## **Document Details** |**Title**|Accounts_2023_Superyacht_Charities.doc.pdf| |---|---| |**Digital Fingerprint**|d6d3f5a8-06d6-46e3-981d-49e4f99baaaf| **Document Signers** Scan/Click the QR Code to view signature information |**Name**|**D Munro**| |---|---| |**Email**|derek@superyachtcharities.com| |**Status**|**SIGNED**at Tue, 21 May 2024 12:49:54 BST(+0100)| |**Signature Fingerprint**|395dd022-33ee-492d-b680-28156a557092| ## **Document History** **Tue, 21 May 2024 12:49:55 D Munro** Signed the Document (IP: 87.75.224.4)