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2021-12-31-accounts

Registered number: Charity number: 1168067

DORCHESTER SAILING CLUB (A company limited by guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

DORCHESTER SAILING CLUB

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the charity, its trustees and advisers 1
Trustees' report 2 - 7
Independent examiner's report 8 - 9
Statement of financial activities 10
Balance sheet 11 - 12
Statement of cash flows 13
Notes to the financial statements 14 - 24

DORCHESTER SAILING CLUB

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021

Trustees

L Martins (appointed 2 December 2002) N Macdonald (appointed 18 December 2016) D Lewis (appointed 28 February 2021) C Wellbelove (appointed 7 March 2017) A Flach (appointed 18 November 2018, resigned 28 February 2021) L O'Donald (appointed 28 June 2020)

Company registered number

04178631

Charity registered number

1168067

Registered office

Millweye Court, 73 Southern Road, Thame, Oxon, OX9 2ED

Chief executive officer

Nicola Macdonald

Page 1

DORCHESTER SAILING CLUB (A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

The Trustees present their annual report together with the financial statements of the company for the 1 January 2021 to 31 December 2021. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) as amended by Update Bulletin 1 (effective 1 January 2015).

Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.

Objectives and Activities

a. Policies and objectives

The objective of the charity (DSC/the Club)) is the promotion of community participation in healthy recreation by the provision of facilities for the sport of sailing and other water sports which are capable of improving physical health and fitness.

b. Activities for achieving objectives

All of DSC's activities are directed towards its objects.

The Club enables members of the public (of all ages and abilities and genders) to take part in sailing and other water sports which are capable of promoting physical health and fitness.

It has a 16 hectare lake, boat launching facility, secure boat storage, a modern (accessible) clubhouse with changing rooms, and a training room.

The Club provides the following activities throughout the year:

The Club has a wide range of club sailboats and safety equipment which is available for hire for racing, leisure sailing and training purposes. The Club also has a fleet of power boats for the provision of safety cover and instruction during training, racing and other organised activities.

Page 2

DORCHESTER SAILING CLUB (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2021

DSC provides its sailing facilities to other organisations (for example Oxfordshire County Scouts Association and Abingdon Sea Scouts) and the facility of the lake and changing rooms to other water sports clubs (for example Oxford Triathlon Club for open water swim training).

c. Public Benefit

The Trustees have had regard to the Charity Commission’s guidance on public benefit.

DSC's membership is open to all individuals (of all ages and genders) who wish to join the club, regardless of their sporting ability: there is no skill test for admission. This open membership is subject only to limitations on available facilities, equipment and resources. A waiting list for membership therefore exists when membership is oversubscribed, with the next available membership place being offered on a first come, first served basis.

In relation to the other water sport clubs and organisations which DSC permits to use its facilities for training and event purposes, such clubs and organisations must operate on a not-for-profit basis. Their activities undertaken at DSC must also be supervised by suitably trained and certified persons, and adequate safety cover and full insurance cover must be in place. As with individual membership, DSC decides which clubs and organisations to allow to use its facilities dependent on their availability, again with use being offered on a first come, first served basis.

Other water sport clubs and organisations which DSC permits to use its facilities for training and event purposes are not members of DSC and so it is not necessary to be a member in order to be a beneficiary of the charity.

In terms of individuals however, individuals must be members to participate in sailing at DSC in a personal capacity (rather than as a result of membership of another club or organisation). The criterion for membership is that the individual must be interested in, and keen to take part in, sailing. Individual, joint and family memberships are available. Benefits to members are the use of DSC's facilities, the ability to hire club boats and safety equipment, and the option to participate in racing, leisure sailing and/or training activities at the club.

However, usually the Club offers four-day youth sail training courses twice a year- during the Easter and Summer school holidays – which are open to the children of non-members. Also, adult non-members may attend the 6-day adult sail training course for a supplementary fee (see below).

DSC's facilities are open 7 days a week throughout the year. There are no restrictions on members in terms of which facilities and services members can access.

Regarding other clubs and organisations, DSC agrees in advance with such clubs and organisations which facilities it can access depending on their needs and availability.

DSC charged the following annual membership rates for 2021:

Non-sailing membership is available to persons who have been full members for at least 10 years and who are

Page 3

DORCHESTER SAILING CLUB (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2021

no longer able to participate in sailing activities. The annual fee is £25.

In addition to the above, DSC charges include the following:

Youth sail training courses are provided free of charge to children in family memberships, and safety equipment is always provided to all participants free of charge. The fees for the youth courses open to the public (during school holiday periods) are £160 for non-members and £144 for members.

Youth members who are trained to be Assistant Dinghy Instructors are given training to obtain the RYA Powerboat Level 2 certificate at no charge.

Grants are available for joining fees (for 100% of the joining fee), membership fees (for up to 50% of the membership fees) and also for certification training/coaching or participation costs (for up to 50% of the costs subject to a maximum of £250). Grants towards membership fees are available for single, joint or family memberships.

The trustees consider that DSC's charges, to both members and clubs/organisations, are set at a level which are reasonable and that the ability to pay the fees charged will not unreasonably restrict those who can benefit.

Achievements and performance

a. Membership

The Club’s membership increased strongly in 2021 from 188 memberships in 2020 to 215 memberships by the end of 2021. The number of Family Memberships rose from 115 to 132 and the number of Joint Memberships rose from 20 to 31. However, the number of Single Adult Memberships fell slightly from 53 to 52. The number of individuals in the 215 memberships totalled 650 compared to 557 in 2020.

The number of individuals included in the 215 memberships is made up by: 52 adults with Single Membership 62 adults with Joint Membership 257 adults with Family Membership 281 children in Family Memberships

b. Training during 202 1

The Covid-19 pandemic continued to impact on our training activities in 2021. Restrictions meant that we were not able to run training in the spring and only started our training programme in June, and severely impacted our ability to deliver Adult training.

We were able to run a 4-day summer youth holiday course for members and non-members in the June half term and 2 more such courses in August. For each course we adjusted the places available and age limits to ensure we could remain within the guidelines in force at the time whilst maintaining quality of teaching and safety. We limited use of indoor facilities, mixing within groups and did not use double handed boats until the final course. Fully risk assessed operating procedures were in place in line with RYA and government guidelines to ensure that these courses were COVID-19 secure.

The restrictions meant that adult courses, normally taught with an instructor in the boat, were not possible until July. We ran a course for 4 adults in the Autumn. Normally we would run 2 such courses with up to 8 places per year.

Page 4

DORCHESTER SAILING CLUB (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2021

In total 84 RYA Certificates were issued to children, 21 of whom had not sailed before. 17 RYA Stage 3 certificates were issued – representing young sailors capable of sailing independently and taking part in club activities, and 7 Start Racing certificates were awarded to more advanced sailors. These numbers are comparable to pre pandemic annual levels.

DSC continues to maintain relationships with other clubs and groups in the region. The annual National Schools regatta was able to take place and DSC once again took a leading role in the Oxfordshire team, with our volunteers looking after the booking for the entire team and a number of our sailors achieving good results. Two DSC sailors continue to compete individually at National and World level.

Although we only restarted our own assistant instructor training right at the end of the year, external training has continued and 2 more of our instructors completed full Dinghy Instructor Qualifications, 3 of our Dinghy Instructors qualified as Senior Instructors and 2 qualified as Club Racing coaches. Our numbers of instructors with higher level qualifications remains unusually high for a club of this size.

The Schools programme was able to run a skeleton programme in the Autumn for 6 young sailors.

The level of training we were able to deliver in 2021 was due to another year of incredibly hard work by our volunteers. The uncertain roadmap out of lock down in the summer caused significant administration overhead and teaching conditions remain much more difficult than before COVID. We remain extremely fortunate to have a pool of capable and determined volunteers.

c. Facilities Use by Others

Oxfordshire County Scouts Association and Abingdon Sea Scouts cancelled all activities at DSC during 2021 due to Covid-19 restrictions.

Oxford Triathlon Club continued to use the Club’s facilities for open swim training twice a week from April until September.

Oxford Paddlers for Life (a charity providing support for people who have been affected by cancer) continued to use DSC’s facilities for their Dragon Boat rowing activities and have decided to use DSC as their base for the time being.

Financial review

a. Financial risk management objectives and policies

DSC has freehold ownership of the lake and all of the surrounding land that it occupies. It owns outright all of the facilities and equipment that the Club provides for sailing activities, and owns all the buildings (although there is an outstanding mortgage of £28,907 for the building of a new clubhouse in 2010).

DSC maintains adequate insurance cover for the risks associated with its activities and for loss of its equipment and buildings.

.The principal financial risks are from loss of income, due to a reduction in memberships or income from training activities. Hence any events that could lead to the lake being unable to be used for sailing may pose risks to the club’s finances if the event or cause is sustained for a long time. This may include events such as a severe and prolonged drought causing the water level of the lake to fall and making a significant area of the lake un-sailable. A similar risk is posed by pond weed growth. Little can be done to obviate the risks from drought, but DSC has an annual programme to restrict and control the problem of pond weed through the use of dye to inhibit growth and, if required, cutting and clearing the weed. In 2021 the lake water level was high

Page 5

DORCHESTER SAILING CLUB (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2021

and the dye was kept at a higher concentration. Given there was little weed growth a similar programme will be followed this coming year. An annual budget of £4,250 is reserved for this programme. Lastly, COVID remains a risk, in that if restrictions on activities return, we may find we have to scale back or halt sailing. As of now this does not look likely. The club has the financial position to survive the risks stated above for the next financial year.

The Club operates a general reserves policy of retaining £20,000 cash as a contingency reserve. DSC also retains £20,000 in a designated fund for infrastructure development.

b. Review year to 31/12/2021 income and costs

The year 2021 was the second year living with the Covid-19 pandemic and its restrictions. These restrictions impacted the club less during the year. The club ran an Easter Holiday and Spring training course as well as two Summer Holiday courses and a 6-day Autumn Weekend youth training, plus an adult course in the Autumn. Hence revenue from training increased in the year towards pre-pandemic levels.

Membership numbers (both renewals and new members) increased in the year. Hence operating income exceeded the budget for the year at £70,850. This included £11,261 of monies, versus the same in costs, from funding the NSSA regatta for members of DSC and other local sailing clubs. Operating costs increased in the year to £50,860 (note this includes the offset for the money taken in to pay for the NSSA regatta).

Council grants (for Covid-19 relief) of £14,857 were received, resulting in a net surplus (after other income and depreciation) of £23,513. A new Topper dinghy has been purchased, which will increase depreciation over the next several years. Separately, a prepayment was made on our mortgage totalling £19,771 including the expected paydowns.

Cash at bank increased by £13,367 to £132,262 including reserves. Hence the level of available reserves to offset any future losses remains strong.

Nearly 80% of the assets are accounted for by tangible fixed assets mainly consisting of freehold land (including the lake), buildings, boats and equipment used to provide the facilities for sailing and other water sport activities.

Overall, the financial position of the Club remained favourable at the end of 2021, with the Club having sufficient reserves to offset a significant downturn in revenues and more than required to continue to run for the next financial year. Hence, the trustees consider that the Club remains a going concern for the next twelve months at the minimum.

Structure, governance and management

a. Organisational structure and decision making

The governing document is the Articles of Association as last amended on 28th February 2016.

Dorchester Sailing Club is incorporated as a company limited by guarantee, has no employees and is run by volunteers.

The charity has a minimum of three trustees (five in 2021) who are recruited from the body of members of the Club and elected by the members at the Annual General Meeting to serve for one year. Trustees may stand for re-election each year with no limit on the number of terms of office.

The trustees are directors of the company.

Day to day management of the Club and its activities is managed by the Management Committee comprising

Page 6

Do¢uSign Envèlot* ID.. DB921ADC-23O741D3-991B-7B(￿6S69c64A DORCHESTER SAILING CLUB IA cornpany limited by guarantee) TRUSTEES, REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2021 the truslees and other members of the Club elected at the AGM or co-opted. There six non-lruslee members of the Management Committee in 2021. Trustees. responsibilities statement The Trustees (who are also directors of Dorchester Sailing Club for the Purposes of company law) are responsible for preparing the Trustees. report and the financial statements in accordance with applicable law and United Kingdom Accounling Slandards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each finanaal year. Under company law the Trustees musl not approve the financial statements unless they are satisfied that they give a true and fair view of the slate of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently, observe the methods and principles in the Charities SORP., make judgments and accounting estimates that are reasonable and prudent,. prepare the financial statements on the going concern basis unless il is inappropriate to presume that the charitable company will continue in operation. The Trustees are responsible for keeping adequate accounting records that are suffiaent to show and explain the charitable (x)mpany's transactions and disclose wlh reasonable accuracy at any time the financial F)OSition of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also reSPon￿bIe for safeguarding the assets of the charitable (x)mpany and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsble for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. This report was approved by the Trustees, on 14-03-22 and signed on their behalf by.. £￿￿51 ¢d by. Ootu5￿n•rf by.. ona N thacaonat¥' Paqe 7

DORCHESTER SAILING CLUB (A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

Independent examiner's report to the Trustees of Dorchester Sailing Club (the 'company')

I report to the charity Trustees on my examination of the accounts of the company for the Period ended 31 December 2021.

This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report.

Responsibilities and basis of report

As the Trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Page 8

Do¢uSign Envèlot ID.. DB921ADC-23O741D3-991B-7B(￿6S69c64A DORCHESTER SAILING CLUB IA cornpany limited by guarantee) INDEPENDENT EXAMINER'S REPORT Icontinuedl FOR THE YEAR ENDED 31 DECEMBER 2021 Independent examinerfs staternent I have completed my examination. l (an confirm that no matters have comg to my attention in connection wth the examination giving me Cause lo believe.. accounting records were not kept in respect of the ￿rnpany as required by section 386 of the 2006 Act., or the accounts do not accord with those records., or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and faiv view which is not a matter considered as part of an independent examination.. or the accounts have not been prepared in accordance wlh the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concems and have come across no other matters in connection ￿rith the examination lo attenb.on should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Docu8Mdby'. Signed= Dated.. 15-03-22 A59BBIACBETA4CY . Stuart P Crook FCA Paqe g

DORCHESTER SAILING CLUB

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021

Unrestricted
funds PE
Dec
Note
2021
£
Income from:
Donations and legacies
2
15,506
Charitable activities
3
70,850
Investments
5
10
Total income
85,661
Expenditure on:
Charitable activities
8
62,148
Total expenditure
9
62,148
Net profit before other recognised gains and losses
23,513
Net movement in funds
23,513
Reconciliation of funds:
Total funds brought forward
535,880
Total funds carried forward
559,393		 Total
funds PE
Dec
2021
£
15,506
70,850
10
85,661
62,148
62,148
23,513
23,513
535,880
559,393		 Total
funds
2020
£
26,423
47,122
61
73,606
48,234
48,234
25,372
25,372
510,508
535,880

The notes on pages 14 to 24 form part of these financial statements.

Page 10

DORCHESTER SAILING CLUB (A company limited by guarantee) REGISTERED NUMBER: 04178631

BALANCE SHEET AS AT 31 DECEMBER 2021

Note
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
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
Charity Funds
Unrestricted funds
16
Total funds		 £
200
132,262
132,462
(6,587)		 2021
£
441,923
125,875
567,798
(7,700)
560,098
560,098
560,098		 £
205
118,891
119,096
(6,588)		 2020
£
450,392
112,508
562,900
(27,020)
535,880
535,880
535,880

Page 11

Do¢uSign Envèlot* ID.. DB921ADC-23O741D3-991B-7B(￿6S69c64A DORCHESTER SAILING CLUB IA cornpany limited by guarantee) BALANCE SHEET Icontinuedl AS AT 31 DECEMBER 2021 The company's financial statements have been prepared in accordance with the provisions applicable to ompanies subject to the small companies regime. The Trustees consider that the company is entitled to exemption from the requirement lo have an audit under the provisions of section 477 of the Companies Act 2006 1.the Act"} and members have not required the company lo obtain an audit for the Year in question in accordance with section 476 of the Act. The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The finanaal statements were approved and authorised for i&sue by the Trustees on signed on their behalf. by.. 14-03-22 and The notes on pages 14 to 24 form part of these financial statements. Paoe 1?

DORCHESTER SAILING CLUB

(A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021

Note
Cash flows from operating activities
Net cash provided by operating activities
18
Cash flows from investing activities:
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
Net cash used in investing activities
Change in cash and cash equivalents in the Year
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward
19		 2021
£
15,482
705
(2,820)
(2,115)
13,367
118,895
132,262		 2020
£
34,352
-
-
-
34,352
84,543
118,895

The notes on pages 14 to 24 form part of these financial statements.

Page 13

DORCHESTER SAILING CLUB (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Dorchester Sailing Club meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Reconciliation with previous Generally Accepted Accounting Practice

In preparing these accounts, the Trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required.

No restatements were required.

1.3 Company status

The company is a company limited by guarantee. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

1.4 Going concern

The financial statements have been prepared on the going concern basis which assumes that the charity will continue in operational existence for the foreseeable future.

1.5 Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees' report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the company which is the amount the company would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Page 14

DORCHESTER SAILING CLUB (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. Accounting policies (continued)

1.6 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.

Charitable activities and Governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.

1.7 Tangible fixed assets and depreciation

All assets costing more than £500 are capitalised.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities incorporating income and expenditure account.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold land - not depreciated - Buildings 2% Straight line Boats - 10% Reducing balance - Fencing and equipment 15% Reducing balance - Office equipment 33% Straight line

1.8 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.

1.9 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Page 15

DORCHESTER SAILING CLUB (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. Accounting policies (continued)

1.10 Cash at Bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.11 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.12 Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.13 Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities incorporating income and expenditure account over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities incorporating income and expenditure account as the related expenditure is incurred.

1.14 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Page 16

DORCHESTER SAILING CLUB (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

2. Income from donations and legacies

Unrestricted
funds PE
Dec
2021
£
Donations
649
Grants
14,857
Total donations and legacies
15,506
Total 2020
26,423
3.
Income from charitable activities
Unrestricted
funds PE
Dec
2021
£
Provision of sailing & other watersports activities
70,850
Total 2020
47,122
4.
Analysis of income from charitable activities by type of income
Unrestricted
funds Dec
2021
£
Provisions of sailing & other watersports activities
-
Sailing & watersport activities
-
Sale of boats
-
-
Total 2020
47,122		 Total
funds PE
Dec
2021
£
649
14,857
15,506
26,423
Total
funds PE
Dec
2021
£
70,850
47,122
Total
funds Dec
2021
£
52,038
18,266
705
71,009
47,122		 Total
funds
2020
£
1,423
25,000
26,423
Total
funds
2020
£
47,122
Total
funds
2020
£
36,245
10,877
-
47,122

Page 17

DORCHESTER SAILING CLUB (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

5. Investment income

Investment income
Unrestricted
funds Dec
2021
£
10
Direct costs
General
expenses
£
Sailing & watersport activity costs
23,059
Boat repairs and maintenance
6,254
Membership fees
655
29,968
Total 2020
10,539
Support costs
£
Repairs and maintenance
3,972
Insurance
5,094
Weed control
4,032
Printing, postage and stationary
77
Telephone
669
Rates
1,464
Light and heat
926
Cleaning
2,194
Bank charges
451
Depreciation
11,288
30,167
Total 2020
35,278		 Total
funds Dec
2021
£
10
Total
2021
£
23,059
6,254
655
29,968
10,539
Total
2021
£
3,972
5,094
4,032
77
669
1,464
926
2,194
451
11,288
30,167
35,278		 Total
funds
2020
£
61
Total
2020
£
8,242
1,642
655
10,539
Total
2020
£
747
8,112
7,872
393
660
993
825
2,212
676
12,788
35,278

6. Direct costs

7. Support costs

Page 18

DORCHESTER SAILING CLUB (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

8. Governance costs

Unrestricted
funds Dec
2021
£
Accountancy
2,013
Analysis of Expenditure by expenditure type
Other costs
2021
£
Direct and support costs
60,135
Expenditure on governance
2,013
62,148
Total 2020
48,234		 Total
funds Dec
2021
£
2,013
Total
2021
£
60,135
2,013
62,148
48,234		 Total
funds
2020
£
2,417
Total
2020
£
45,817
2,417
48,234

9. Analysis of Expenditure by expenditure type

10. Net income/(expenditure)

This is stated after charging:

2021 2020
£ £
Depreciation of tangible fixed assets:
- owned by the charity 11,288 12,788

During the Year, no Trustees received any remuneration (2020 - £NIL). During the Year, no Trustees received any benefits in kind (2020 - £NIL). During the Year, no Trustees received any reimbursement of expenses (2020 - £NIL).

11. Auditors' remuneration

The Independent Examiner's remuneration amounts to an Independent Examination fee of £2,000.

Page 19

DORCHESTER SAILING CLUB (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

12. Tangible fixed assets

12.
Tangible fixed assets
Cost
At 1 January 2021
Additions
At 31 December 2021
Depreciation
At 1 January 2021
Charge for the Year
At 31 December 2021
Net book value
At 31 December 2021
At 31 December 2020
Cost
At 1 January 2021
Additions
At 31 December 2021
Depreciation
At 1 January 2021
Charge for the Year
At 31 December 2021
Net book value
At 31 December 2021
At 31 December 2020
13.
Debtors
Other debtors		 Freehold
property
£
189,483
-
189,483
-
-
-
189,483
189,483		 Plant and
machinery
£
283,735
-
283,735
70,184
5,675
75,859
207,876
213,551		 Motor
vehicles
£
79,147
2,820
81,967
43,707
3,826
47,533
34,434
35,440		 Fixtures and
fittings
£
60,148
-
60,148
48,230
1,788
50,018
10,130
11,918
2021
£
200		 Office
equipment
£
442
-
442
442
-
442
-
-
Total
£
612,955
2,820
615,775
162,563
11,289
173,852
441,923
450,392
2020
£
205

Page 20

DORCHESTER SAILING CLUB (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

14. Creditors: Amounts falling due within one year

Creditors: Amounts falling due within one year
Bank loans and overdrafts
Other creditors
Accruals and deferred income		 2021
£
1,888
2,699
2,000
6,587		 2020
£
1,888
2,700
2,000
6,588

15. Creditors: Amounts falling due after more than one year

2021
£
Bank loans
7,700
Creditors include amounts not wholly repayable within 5 years as follows:
2021
£
Repayable by instalments
-		 2020
£
27,020
2020
£
17,945

16. Statement of funds

Statement of funds - current year

Designated funds
Infrastructure fund
General funds
General Funds - all funds
Charitable funds
Total Unrestricted funds
Total of funds		 Balance at
1 January
2021
£
20,000
498,609
17,271
515,880
535,880
535,880		 Income Expenditure
£
£
-
-
86,366
(62,148)
-
-
86,366
(62,148)
86,366
(62,148)
86,366
(62,148)		 Transfers
in/out
£
10,000
(10,000)
-
(10,000)
-
-		 Balance at
31
December
2021
£
30,000
512,827
17,271
530,098
560,098
560,098

Page 21

DORCHESTER SAILING CLUB (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

16. Statement of funds (continued)

Statement of funds - prior year

Statement of funds - prior year
Designated funds
Infrastructure fund
General funds
General Funds - all funds
Charitable funds
Total Unrestricted funds
Total of funds		 Balance at
1 January
2020
£
10,000
483,237
17,271
510,508
510,508		 Income
£
-
73,606
-
73,606
73,606		 Expenditure
£
-
(48,234)
-
(48,234)
(48,234)		 Transfers
in/out
£
10,000
(10,000)
-
-
-		 Balance at
31
December
2020
£
20,000
498,609
17,271
535,880
535,880

Summary of funds - current year

Designated funds
General funds		 Balance at
1 January
2021
£
20,000
515,880
535,880		 Income
£
-
86,366
86,366		 Expenditur
e
£
-
(62,148)
(62,148)		 Transfers
in/out
£
10,000
(10,000)
-		 Balance at
31
December
2021
£
30,000
530,098
560,098

Summary of funds - prior year

Designated funds
General funds		 Balance at
1 January
2020
£
10,000
500,508
510,508		 Income
Expenditure
£
£
-
-
73,606
(48,234)
73,606
(48,234)		 Transfers
in/out
£
10,000
(10,000)
-		 Balance at
31
December
2020
£
20,000
515,880
535,880

Page 22

DORCHESTER SAILING CLUB (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

17. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds Dec
2021
£
Tangible fixed assets
441,925
Current assets
132,462
Creditors due within one year
(6,588)
Creditors due in more than one year
(7,701)
560,098
Analysis of net assets between funds - prior year
Unrestricted
funds Dec
2020
£
Tangible fixed assets
450,394
Current assets
119,091
Creditors due within one year
(6,588)
Creditors due in more than one year
(27,017)
535,880
18.
Reconciliation of net movement in funds to net cash flow from operating activities
2021
£
Net income for the year (as per Statement of Financial Activities)
23,513
Adjustment for:
Depreciation charges
11,288
Decrease in debtors
-
Decrease in creditors
-
Decrease in creditors over 1 year
(19,319)
Net cash provided by operating activities
15,482
19.
Analysis of cash and cash equivalents
2021
£
Cash in hand
132,262
Total
132,262		 Total
funds Dec
2021
£
441,925
132,462
(6,588)
(7,701)
560,098
Total
funds Dec
2020
£
450,394
119,091
(6,588)
(27,017)
535,880
2020
£
25,372
12,788
(218)
(1,596)
(1,994)
34,352
2020
£
118,895
118,895

Page 23

DORCHESTER SAILING CLUB (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

20. Members' liability

Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £ 1 for the debts and liabilities contracted before he/she ceases to be a member.

21. Related party transactions

During the year there were no related party transactions with any of the trustees.

Page 24