Docusign En¥ÈlopÈ ID". 3E1D5953-F83542DE-9F2&73682DE66A66 Registered number: 04178631 Charity number: 1168067 DORCHESTER SAILING CLUB (A company Ilmited by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
Docusign En¥ÈlopÈ ID". 3E1D5953-F83542DE-9F2&73682DE66A66 DORCHESTER SAILING CLUB {A company limited by guarantee) CONTENTS Page Reference and administrative details of the Company. its Trustees and advisers Trustees. report Independent examlnerfs report ststement of financial activities 9-10 Balance sheet 12-13 Notes to the financial statements 14-23
Docusign En¥ÈlopÈ ID". 3E1D5953-F83542DE-9F2&73682DE66A66 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 2022 Trustees L Martins (appointed 2 December 2002) L O'Donald (appointed 28 June 20201 N Macdonald lappoinled 18 Dember 20161 D Lews lappoinled 28 February 20211 C Wellbelove lappointed 7 March 20171 Company registsrod number 04178631 Charity rogistgred number 1168067 Registered office 73 Southern Road Thame OX9 2ED Chief executive officer Nicola Macdonald Independent auditors Wellers Milweye Court 73 Southern Road Oxon Thame Oxfordshire OX9 2ED Page 1
Docusign En¥ÈlopÈ ID". 3E1D5953-F83542DE-9F2&73682DE66A66 DORCHESTER SAILING CLUB {A company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 Th8 Trustees pr8senl their annual retK)rt logelh8r with the financial stalemonls of the Dorchesler Sailing Club for the Year 1 January 2022 to 31 December 2022. The Annual report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annual report and finanThal stslements of the charitable company comply with the cutTenl slalulory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practi ISORPI applicable lo charities preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 leffeclive 1 January 20191. Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under Ihe Companies Act 2006 Istralegic Report and Directors, Report) Regulations 2013 has been omitted. a. Policies and objectives The objective of the charity IDSCllhe Clubll 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 filness. Activities for achieving objectives All of DSC'S activities are directed towards ils objects. The Club enables members of the public (of all ages and abilities and genders) to lake part in sailing and other water sports 1¢h are capable of promoting physical health and fitness. 11 has a 16 hectare lake, boat launching facility. secure boat storage, a modern laccessible} dubhouse with changing rooms, and a training room. The Club provides the following activities throughout the year.. Racing (competitive racing on Sundays throughout the year and some infomiallnovice racing on Wednesdays from April to Seplember}', Leisure sailing (including during periods of racing or training provided that sailors give way to boats that are racing, and avoid sailing through training groups, where possible)., and Training - as a recognised Royal Yachting Association IRYAI Training Centre, offering a wde range of dinghy sailing courses to both adults and children from the age of 8 lat different skill levels) under the internationally recognised National Sailing Scheme and Youth Sailing Scheme. The Club also provides training for the RYA Level 2 Power Boat Certificate and Assistant Instructor training for members aspiring to become instructors. Race Coaching - infomial sessions on Sunday momings before races and occasional more advanced one day sessions. The Club has a smde range of club sailboats and safely 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
Docusign En¥ÈlopÈ ID". 3E1D5953-F83542DE-9F2&73682DE66A66 DORCHESTER SAILING CLUB {A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 (conlinued) DSC provides ils sailing facilities to other organisalions and the facility of the lake and changing rooms lo other water sports clubs. Public Benefit The Trustees have had regard to the Charity Commission's guidance on public benefit. DSC'S membership is open to all individuals lof 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 lo limitations on available facilities, equipment and resources. A wailing lisl for membership therefore exists when membership is oveubscrIbed, with the next available membership pla Ing offered on a first come, first served basis. In relation lo the other water sport clubs and organisations which DSC permits lo use ils facilities for training and event purposes, such clubs and organisalions musl operate on a nol-for-profil basis. Their activities undertaken al DSC must also be supervised by suitably trained and certified persons, and adequate safely cover and full insurance cover must be in place. As with individual membership, DSC decides which clubs and organisalions lo allow lo use ils facilities dependent on their availability, again with use being offered on a first come, first seNed basis. Other water sport clubs and organisalions which DSC permits to use ils facilities for training and event purposes are not members of DSC and so it is not necessary lo be a member in order to be a beneficiary of the charity. In temis of individuals however, individuals musl be members to participate in sailing al DSC in a personal capacity {ralher 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 lo lake part in, sailing. Individual, joint and family memberships are available. Benefits to members are the use of DSC'S facilities, the ability to hire dub boats and safety equipment, and the option to participate in racing, leisure sailing andlor Imining activities at the cjub. However, usually the Club offers four-day youth sail training courses twi 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 lemis of which facilities and ServIS members can access. Regarding other clubs and organisations, DSC agrees in 8dv8nce with such clubs and organis8tions which facilities it can access depending on their needs and 8v8ilability. DSC charged the following annual membership rates for 2022-. Joining Fee (one-off payment}.. £30 Single Membership annu81 subscription.. £140 JoinllF8mily Membership annual SLJbscriplion (meaning 2 adults and any dependent children of either adultl.. £165 Annual Boat Registration leach craft).. £10 Annual Berth fee (per occupied berth).. £50 Non-sailing membership is available lo perwns who have been full members for at least 10 years and who are Page 3
Docusign En¥ÈlopÈ ID". 3E1D5953-F83542DE-9F2&73682DE66A66 DORCHESTER SAILING CLUB {A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 (conlinued) no longer able to participate in sailing activities. The annual fee is £25. In addition lo the above, DSC charges indude the following.. Hire of club boats= from £5 per boat for a half day and £7.50 per boat per full day Adult training course16 days).. £240 for members and £300 for non-members Adult training for RYA Powertrt)al Level 2 certificate.. £50 for members Youth sail training courses are provided free of charge lo children in family memberships, and safety equipment is always provided lo all participants free of charge. The fees for the youth courses open to Ihe public (during school holiday periods) are £160 for non-members and £144 for members. Youth members who are trained lo be Assistant Dinghy Inslruclors are given training to obtain the RYA Powerboat Level 2 rtifiCate al no charge. Grants are available for joining fees (for 1 /0 of the joining feel, membership fees (for up to 50°/o of the membership fees) and also for certification Iraininglcoaching or participation costs Ifor up to 50 /0 of the costs subject to a maximum of £3001. Grants towards membership fees are available for single, joint or family memberships. The Iruslees consider that DSC'S charges, to both members and clubslorganisations, 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. Achlevements and Performance Membershlp The Club's membership fell from 214 memberships in 2021 10 196 in 2022. The number of Family Memberships fell significantly from 132 to 110 while Joint Memberships increased slighuy from 31 to 34. Single Memberships remained unchanged al 52. The number of individuals induded in the 196 memberships is made up by.. 52 adults wth Single Membership 68 adults wth Joint Membership 213 adults with Family Membership 229 children in Family Memberships Training during 2022 Although the Covid-19 pandemic no longer placed restrictions on training activities in 2022, knock on effects continued to impact volunteer availability and create a challenging environment We ran 8 4-day youth holiday course for members and non-members in the Easter school holidays and 2 more such courses in August. We were also able lo resume our Sunday youth sessions, but shortage of volunteers meant these were a little below pre pandemic levels. We ran a course for 6 adults in the spring, but lack of volunteers prevented an autumn course. Normally we would run 2 such courses per year, each with up to 8 places. Page 4
Docusign En¥ÈlopÈ ID". 3E1D5953-F83542DE-9F2&73682DE66A66 DORCHESTER SAILING CLUB {A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 (conlinued) In total 98 RYA Certificates were issued lo children, many of whom had not sailed before. 12 RYA Stage 3 certificates were issued representing young sailors capable of sailing independently and taking part in club aclivilies. These numbers are comparable lo pre pandemic annual levels. DSC continued to maintain relationships with other clubs and groups in the region. The annual National Schools regatta was able lo lake pla and DSC once again IcM)k 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. Some of our young sailors who took part in this event several years ago now volunteer as young adult helpers. DSC sailors continue to compete individually al University, National and World level. The Schods programme returned fully running on Wednesdays in the Spring and Autumn. We were able lo partner with the Oxford Hub, a community organisation ¥thich worf(s with families in the less well-off parts of the city, and our volunteer inslruclors provided training sessions for 18 young people. Around half of the attendees live in areas which rank in the top 20 /0 for deprivation in England and over half are on free schod meals. We have completed the training of 6 new assistant instructors. young people who will hopefully continue to develop their instructing skills and contribute lo the club over the next few years. Our numbers of qualified inslruclors remain unusually high for a club of this size, however other pressures mean they are only able to give us limited time and training new inslruclors whilst making the best use of the resources we do have remains a long-temi priority. The level of training we were able lo ddiver in 2022 has neady returned to pre pandemic levels. We remain extremely fortunate lo have a pool of capable and determined volunteers but, with changing leisure pattems and ever more calls on people time, the availability of these volunteers can never be taken for granted and we continue to invest in broadening the team to ensure we can maintain our activities in the future. Facllltles Use by Others Oxfordshire County Scouts Association (OCSA) and Abingdon Sea Scouts cancelled all activities at DSC during 2021 due to Covid-19 restrictions and did not start sail training al OSC in 2022. However, DSC loaned a number of sailing dinghies to OCSA for its Aquacamp event in Summer 2022. Oxford Triathlon Club, who have been using DSC facilities for open water swim training Sin 2011. decided to move their training programme for 2022 to another lake which offered more appropriate faalities for swm training. Oxford Paddlers for Life la charity providing support for people who have been affected by cancer) continued to use DSC'S facilities for their Dragon Boat rowng activities. a. Financial review 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 lallhough there is an outstanding mortgage of £7,268 for the building of a new clubhouse in 20101. DSC maintains adequate insurance cover for the risks associated rith ils activities and for loss of its equipment and buildings. Page 5
Docusign En¥ÈlopÈ ID". 3E1D5953-F83542DE-9F2&73682DE66A66 DORCHESTER SAILING CLUB {A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 (conlinued) The principal financial risks are from loss of income, due lo a reduction in memberships or income from training aclivilies. Hen any events that could lead to the lake being unable lo be used for sailing may pose risks lo the club's finan$ if the cause is sustained for a long lime. This may include events such as a severe and prolonged drought reducing the water level of the lake and making a significant area of the lake un-sailable. A similar risk is posed by pond weed growth. Little can be done lo obviate the risks from drought,. bul DSC has an annual programme to restrict and control the problem of pond weed through Ihe use of dye to inhibit growth and, if required, cutting and clearing the weed. In 2022 the lake water level fell during the summerfs drought. Though the dye was kept al a similar concentration, there was significant weed growth in July. Hence a weed cul was organised which allowed activities on the lake lo continue with little disruption. With the possibility of holler summers a higher risk, an annual budget of £7,250 is reseed for weed operations in 2023. As personal finances deteriorate Ihe club may see a reduction in predicted membership. Lastly the club is not immune to pressures from inflation, though this is expected lo be absorbable for 2023, unless we see further spikes in costs. Hen, il is believed the Club has the finanaal position lo survive the risks slated above for Ihe next financial year. The Club operates a general reseNes policy of retaining £20,000 cash as a contingency reserve. DSC also retains £20,OCK) in a designated fund for infrastructure development. Review year to 3111212022 income and costs The year 2022 saw the decline in issues arising from the Covid-19 pandemic and ils reslriclions. The club ran an Easter Holiday and Spring training course as well as Summer Holiday courses and an Autumn Weekend youth training. The take up was good and wlh less restrictions more trainees could be accommodated. Hence revenue from training was back to pre-pandemic levels. Membership numbers Itx)Ih renewals and new members} reduced in the year, but less than forecast in our budget. Hence operating income exeded the budget for the year at £72,402. This included £9,713 of monies, versus a similar amount in costs, from funding the NSSA regatta for members of DSC and other local sailing clubs. Operating costs increased in the year to £69,462 including depreciation. Costs for repairs were slightly higher than expected, as were costs controlling weed growth, but the total expenditure on maintenance was in line wth expectations. Cash al bank increased by £11,658 10 £143,920 including reserves. Hence the level of available reserves to offset any future losses MaInS strong. Nearly 800/0 of the assets are accounted for by tangible fixed assets mainly consisting of freehold land (induding 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 2022, WTlh the Club having sufficient reserves to offset a significant downturn in revenues and more than required lo 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. Page 6
Docusign En¥ÈlopÈ ID". 3E1D5953-F83542DE-9F2&73682DE66A66 DORCHESTER SAILING CLUB {A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 (conlinued) Structure. Govemance and Management Organisation structure and decision making The goveming document is the Articles of Association as last amended on 28th February 2016. Dorchester Sailing Club is incorporated as a company limiled by guarantee, has no employees and is run by volunteers. The charity has a minimum of three trustees (five in 20221 are recwited from the body of members of Ihe Club and elected by the members al the Annual General Meeting lo serve for one year. Trustees may stsnd for re-election each year with no limit on the number of terms of offi. The Iruslees are directors of the company. Day lo day management of the Club and its activities is managed by the Management Committee comprising the Iruslees and other members of the Club elected at the AGM or cwpted. There were six non-truslee members of the Management Committee in 2022. a. Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concem basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. Page 7
Docusign En¥ÈlopÈ ID". 3E1D5953-F83542DE-9F2&73682DE66A66 DORCHESTER SAILING CLUB {A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 ststement of Truste9s' responsibilities The Trustees (who are also the directors of the Company for the purposes of company lawl are responsible for preparing the Trustees, report and the financial slalements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi1. Company law requires the Ttuslees lo prepare financial statements for each financial Year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of Ihe slate of affairs of the Company and of its incoming resources and application of reSoUrs, including its income and expenditure, for that period. In preparing these financial stalemenls, the Trustees are required to: select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP IFRS 1021., make judgments and accounting estimates that are reasonable and prudent: stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any material departures disclosed and explained in the financial statements., prepare the financial statements on the going conrn basis unless it is inappropriate to presume that the Company wll continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose wlh reasonable accuracy al any lime the financial position of the Company and enable them lo ensure that the financial slalements comply wth the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by.. Do¢uS Do¢u81gnDdby'. FI8884&464............................ L O'Donald Trustee Dale.. 05-05-23 N Macdonald Trustee Page 8
Docusign En¥ÈlopÈ ID". 3E1D5953-F83542DE-9F2&73682DE66A66 DORCHESTER SAILING CLUB {A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 Independent examinerfs report to the Trustees of Dorchester Sailing Club I'the Company'l I report to the charity Trustees on my examination of the accounts of the Company for the Year ended 31 December 2022. Responsibilities and basis of report As the Trustees of the Company land ils directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance wth the requirements of the Companies Act 20061'lhe 2006 Acl'l- Having satisfied myself that the accounts of the Company are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination, I reFX)rt in respect of my examination of the Company's accounts carried out under section 145 of the Charities Act 2011 I'lhe 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llb} of the 2011 Acl. Independent examinerfs statement I have completed my examination. I confirm that no matters have come to my attention in connection wth the examination giving me cause to believe= accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act., or the accounls 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 fairf view which is not a maller considered as part of an independent examination., or 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 lapplicable lo charities preparing their aecounls in accordance with the Financial ReFX)rting Standard applicable in the UK and Republic of Ireland {FRS 102)]. I have no nmS and have come across no other mallers in connection wlh the examination to which attention should be drawn in this report in order lo enable a proper understanding of the acwunts to be reached. Page 9
Docusign En¥ÈlopÈ ID". 3E1D5953-F83542DE-9F2&73682DE66A66 DORCHESTER SAILING CLUB {A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 This report is made solely to the Company's Trustees. as a body, in accordance wlh Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might slate to the Company's Trustees those mallers l am required lo slate to them in an Independent examinerfs report and for no other purpose. To the fullest extent permilled 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. Signed.. Stuart Cr(k Dated.. FCA Wellers Milweye Court 73 SOheM Road Thame Oxfordshire Oxg 2ED P2ge 10
Docusign En¥ÈlopÈ ID". 3E1D5953-F83542DE-9F2&73682DE66A66 DORCHESTER SAILING CLUB {A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 DECEMBER 2022 Unrestricted funds 2022 Total funds 2022 Total funds 2021 Note Inwme from: Donations and legacies Charitable activities Investments 311 71.965 126 311 71.965 126 75,506 71,008 10 Tolal income 72.402 72.402 86,524 Expenditure on: Charitable activities 69,462 69.462 62,306 Tolal expenditure 69.462 69.462 62,306 Net movement in fvnds 2,940 2,940 24,218 Reconciliation of fund5- Total funds brought forward Nel movement in funds 560,099 2.940 560,099 2.940 535,881 24,278 Total funds carried forward 563,039 563,039 560,099 The Statement of financial activities indudes all gains and losses recognised in the Year. The notes on pages 14 to 23 form part of these financial stalemenls. P2ge11
Docusign En¥ÈlopÈ ID". 3E1D5953-F83542DE-9F2&73682DE66A66 DORCHESTER SAILING CLUB IA company limited by guarantee) REGISTERED NUMBER.. 04178631 BALANCE SHEET AS AT 31 DECEMBER 2022 2022 2021 Note Fixed assets Tangible assets 431.288 441,925 431.288 441,925 Current assets Debtors Cash at bank and in hand 10 200 143.919 200 132.262 144,119 132,462 Creditors: amounts falling due wlhin one year 16.9891 (6, 588) Net current assets 137,130 125,874 Total assets less current liabilitias 568,418 567, 799 Creditors.. amounts falling due after more than one year 12 {5,3801 (7, 700) Net assets excluding pension asset 563,038 560,099 Total nat assets 563.038 560,099 Charlty funds Restricted funds 14 Unreslrided funds 14 563.038 560,099 Tolal funds 563.038 560,099 P2ge 12
Docusign En¥ÈlopÈ ID". 3E1D5953-F83542DE-9F2&73682DE66A66 DORCHESTER SAILING CLUB IA company limited by guarantee) REGISTERED NUMBER.. 04178631 BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2022 The Company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company lo oblain an audit for the Year in question in accordance wlh section 476 of Companies Act 2006. The Trustees ackno1edge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial slalements. The financial slalements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by.. Do¢uS Do¢uSlgNdby'. FT98&4C4$84J4. 50EFF020520Q483 L O'Donald Trustee Dale.. 05-05-23 N Macdonald Trustee The notes on pages 14 to 23 fom) part of these financial stalemenls. P2ge 13
Docusign En¥ÈlopÈ ID". 3E1D5953-F83542DE-9F2&73682DE66A66 DORCHESTER SAILING CLUB {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 General information Dorchester Sailing Club is a company limited by guarantee. The registered office is 73 Soulhem Road, Thame. Oxfordshire, OX9 2ED. The members of the companyare the Trustees named on page 1. In the event of the company being wound ijp, the liability in respect of the guarantee is limited lo £1 per member of the company. Accountlng pollcles 2.1 Basls of preparatlon of flnanclal ststements The financial slalements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable to charities preparing their accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) leffeclive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Dorchester Sailing Club meets the definition of a public benefit entity under FRS 102. Assets ar liabilities are initially recognised at historical cost or transaction value unless otheNise staled in the relevant accounting policy. 2.2 Income All income is recognised once the Company has entillemenl to the income, il is probable that the income wll be received and the amount of income receivable Can be measured reliably. Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income 15 received in advance of entitlement of receipt, ils recrynition is deferred and included in creditors as deferred income. Where entillemenl occurs before income is received, the income is accrued. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. 2.3 Expenditure Expenditure is recognised On there is a legal or constructive obligation to transfer economic benefit lo 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. Exponditure is dassified by activity. The costs of each activity are made LJP of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs allribulable to a single activity are allocated directly lo that activity. Shared costs which contribute lo more than one activity and SUPFX)rt costs which are not attributable to a single activity are apportioned between those activities on a basis consistent wlh the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation tharges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs. P2ge 14
Docusign En¥ÈlopÈ ID". 3E1D5953-F83542DE-9F2&73682DE66A66 DORCHESTER SAILING CLUB {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policies {continued) 2.4 Tangible fixed assets and depreciation Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the as8el can be measured reliably. Tangible fixed assets are inili811y recognised at cost. After CognItion, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation 2nd any accumulated impaimienl losses. All costs incurred to bring a tangible fixed asset into ils intended working condition should be included in the measurement of cost. Depreciation is charged so as lo allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, Depreciation is provided on the following ba5e5'. Freehold propety Plant and machinery Motor vehicles Fixtures and fittings Computer equipment not depreciated 20/0 Slraighl line 10 /. Reducing balance 15 /. Reducing balance 33 /0 Straight line 2.5 Debtors Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. 2.6 Cash at bank and in hand Cash at bank and in hand includes cash and short-temi highly liquid investments wth a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.7 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balan sheel date as a result of a past event, il is probable that a transfer of economic benefit wll be required in settlement, and the amount of the selllemenl can be estimated reliably. Liabilities arg recognisgd at the amount that the Company anticipates it will pay lo sellle the debt or the amount it has received as advanced payments for the goods or serVIS it must provide. Provisions are measured at the best estimate of the amounts requirgd to settle the obligation. Where th8 effect of the lime value of money is material, the provision is bas9d on the pr8sent value of those amounts, discounted at the pre-tax discount rale that reflects th8 risks specific to the liability. Th8 unwinding of the discounl is recognised in the Statement of financial activilies as a financ8 Cost. P2ge 15
Docusign En¥ÈlopÈ ID". 3E1D5953-F83542DE-9F2&73682DE66A66 DORCHESTER SAILING CLUB {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policies {continued) 2.8 Financial instmments The Company only h8s financial assets and finanual liabilities of 8 kind that qualify as basic financi81 instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured al their settlement value with the exception of bank loans which are subsequently measured al amortised cost using the effective interest method. 2.9 Fund accountlng General fundg 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. Investment income, gains and10sses are allocated lo the appropriate fund. Incorne from donations and legacies Unr8strict8d funds 2022 Total funds 2022 Tot81 funds 2021 Donations Grants 311 311 649 14,857 311 311 75,506 Total 2021 15,506 15.506 Income from charitable activities Unrestricted funds 2022 Total funds 2022 Total funds 2021 Provision of sailing & other watersports aclivi118S 71,965 71,965 71,008 Total 2021 71,008 77,008 P2ge 16
Docusign En¥ÈlopÈ ID". 3E1D5953-F83542DE-9F2&73682DE66A66 DORCHESTER SAILING CLUB {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Investment income Unrestricted funds 2022 Total funds 2022 Total funds 2021 Investment inwme 126 126 io Total 2021 io 10 Analysis of expenditure on charitsble activities Summary by fund type Unrestricted funds 2022 Total 2022 Total 2021 Direct costs Repairs and maintenance Insurance Weed control Printing. postage and stationary Expenditure on governance Telephone Legal and profesgonal Rates 26,427 10,853 6,091 7,416 37 2,813 857 40 26,427 10,853 6,091 7,416 37 2,813 857 30,713 3,972 5,094 4,032 77 2,013 669 2,136 1,872 282 2,136 1,872 282 10,638 1,803 2, 194 451 Cleaning Bank charges Depreciation 10,638 11,288 69,462 69,462 62,306 Total 2021 62,306 62,306 P2ge 17
Docusign En¥ÈlopÈ ID". 3E1D5953-F83542DE-9F2&73682DE66A66 DORCHESTER SAILING CLUB {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Independent examinerfs remuneration 2022 2021 Fees payable lo the Company's independent examiner for the independent examination of the Company's annual accounts 2,400 2,400 Trustees. remuneratlon and expenses During the Year, no Trustees received any remuneration or other benefits (2027 - £NIL). During the Year ended 31 December 2022, no Trustee expenses have been incurred (2021- £NIL). Tangible fixed assets Freehold Plant and property machinery Motor Fixtures Officg vehicles and fittings equipment Total Cost or valuation At 1 January 2022 189.483 283,735 81.967 60,148 442 615.775 At 31 December 2022 189.483 283,735 81.967 60.148 442 615.775 Depreciation At 1 January 2022 Charge for the Year 75,858 5,675 47,533 3.443 50,018 1,520 442 173,851 10.638 At 31 December 2022 81,533 50.976 51,537 442 184,488 Net book value At 31 December 2022 189.483 202,202 30,991 8,611 431,287 At 31 Dember 2027 189,483 207,877 34,435 10, 130 441,925 P2ge 18
Docusign En¥ÈlopÈ ID". 3E1D5953-F83542DE-9F2&73682DE66A66 DORCHESTER SAILING CLUB {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 10. Debtors 2022 2021 Due wlthln one year Other debtors 200 200 200 200 Creditors: Amounts falling due within one year 2022 2021 Bank loans Other credilors Accnjals and deferred income 1,888 2,700 2,401 1,888 2, 700 2,000 6,989 6,588 12. Craditors: Amounts falling due after more than one yaar 2022 2021 Bank loans 5,380 7, 700 13. Financial instruments 2022 2021 Financial assets Financial assets measured at fair value through income and expenditure 143,919 132,262 Financial assets measured at fair value through income and expenditure Comprise of cash and cash equivalents. P2ge 19
Docusign En¥ÈlopÈ ID". 3E1D5953-F83542DE-9F2&73682DE66A66 DORCHESTER SAILING CLUB {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 14. Statement of funds Statement of funds - Current Year Balance at 31 December 2022 Balance at 1 January 2022 Transfers inlout Income Expenditure Unrestricted funds Deslgnated funds Designated Funds- all funds 10,000 10.000 General funds General Funds- all funds 560,099 72,401 169,462) {10,0001 553,038 Total Unrestricted funds 560,099 72.401 169,4621 563.038 P2ge 20
Docusign En¥ÈlopÈ ID". 3E1D5953-F83542DE-9F2&73682DE66A66 DORCHESTER SAILING CLUB {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 14. Statement of funds (continued) Statement of funds - prior Year Balance at 31 December 2021 B818nce 8t l January 2021 Transfers in/out Income Expenditure Unrestricted funds Deslgnated funds Designated Funds- all funds 20,000 10,(100 30,000 General funds General Funds- all funds Charitable funds 498,609 17,271 86,366 (62, 147) (10, OOOJ 572,828 17,271 515,880 86,366 (62, 147) (io, oooj 530,099 Total Unrestricted funds 535,880 86,366 (62, 147) 560,099 15. Summary of funds Summary offunds- Current Year Balance at 31 Balance at 1 January 2022 Transfers inlout December Income Expenditure 2022 Designated funds General funds 10,000 (10,0001 10.000 553,038 560,099 72.401 169,4621 560,099 72.401 169,4621 563,038 P2ge 21
Docusign En¥ÈlopÈ ID". 3E1D5953-F83542DE-9F2&73682DE66A66 DORCHESTER SAILING CLUB {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 15. Summary of funds {continued) Summary offunds- prioryear Balance at 31 December 2021 B818nce 8t l January 2021 Transfers in/out Income Expenditure Designated funds General funds 20,000 515,880 10,000 (10,OOOJ 30,000 530,099 86,366 (62, 147) 535,880 86,366 (62, 147) 560,099 16. Analysis of net assets between funds Analysis of net assets between funds - current year Unrestricted funds 2022 Total funds 2022 Tangible fixed assets Current assets Creditors due wthin one year Creditors due in more than one year 431,288 144,119 16,9891 15,3801 431,288 144,119 (6.9891 {5.3801 Total 563,037 563,037 Analysis of net assets between funds - prior year Unrestricted funds 2021 Total funds 2021 Tangible fixed assets Current assets Creditors due wthin one year Creditors due in more than one year 441,925 f32.462 (6, 588) (7, 700J 441,925 132,462 (6,588) (7, 700) Total 560.099 560,099 P2ge 22