OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

← Dorchester Sailing Club

2023-12-31-accounts

DocuSign Envelope ID: FF324C3B-882E-4648-A3EA-A763568722A1

Registered number: 04178631 Charity number: 1168067

DORCHESTER SAILING CLUB

(A company limited by guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED DECEMBER 31, 2023

DocuSign Envelope ID: FF324C3B-882E-4648-A3EA-A763568722A1

DORCHESTER SAILING CLUB

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the Company, its Trustees and advisers 1
Trustees' report 2 - 9
Independent examiner's report 10 - 11
Statement of financial activities 12
Balance sheet 13 - 14
Notes to the financial statements 15 - 24

DocuSign Envelope ID: FF324C3B-882E-4648-A3EA-A763568722A1

DORCHESTER SAILING CLUB (A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED DECEMBER 31, 2023

Trustees L Martins (appointed December 2, 2002)
L O'Donald (appointed June 28, 2020)
N Macdonald (appointed December 18, 2016)
D Lewis (appointed February 28, 2021)
C Wellbelove (appointed March 7, 2017, resigned February 19, 2023)
C Gregory (appointed February 19, 2023)
Company registered
number
04178631
Charity registered
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 Envelope ID: FF324C3B-882E-4648-A3EA-A763568722A1

DORCHESTER SAILING CLUB (A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED DECEMBER 31, 2023

The Trustees present their annual report together with the financial statements of the Dorchester Sailing Club for the Year January 1, 2023 to December 31, 2023. 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 financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable 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 2019).

Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

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.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Strategies 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:

Page 2

DocuSign Envelope ID: FF324C3B-882E-4648-A3EA-A763568722A1

DORCHESTER SAILING CLUB (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED DECEMBER 31, 2023

Objectives and activities (continued)

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.

DSC provides its sailing facilities to other organisations and the facility of the lake and changing rooms to other water sports clubs.

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 2023:

Page 3

DocuSign Envelope ID: FF324C3B-882E-4648-A3EA-A763568722A1

DORCHESTER SAILING CLUB

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED DECEMBER 31, 2023

Objectives and activities (continued)

Non-sailing membership is available to persons who have been full members for at least 10 years and who are 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 £300). 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 fell from 196 memberships in 2022 to 181 in 2023. The number of Family Memberships fell from 112 to 103 and Joint Memberships dropped from 32 to 24. Single Memberships rose slightly from 52 to 54.

The number of individuals included in the 181 memberships is made up by: 54 adults with Single Membership 48 adults with Joint Membership 199 adults with Family Membership 217 children in Family Memberships

Page 4

DocuSign Envelope ID: FF324C3B-882E-4648-A3EA-A763568722A1

DORCHESTER SAILING CLUB (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED DECEMBER 31, 2023

Achievements and performance (continued)

b. Training during 2023

We ran a 4-day youth holiday course for members and non-members in the Easter school holidays and 2 more such courses in August. We continued with our Sunday youth sessions; volunteer instructors continue to be the limiting factor in expanding these. Once again, we were unable to run a full adult course, but we did run a number of successful refresher sessions for adults returning to sailing.

In total 100 RYA Certificates were issued to children, many of whom had not sailed before. 27 RYA Stage 3 certificates were issued – representing young sailors capable of sailing independently and taking part in club activities. We consider these figures to be good, representing good progress by the students who attended our courses.

DSC continued 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 bookings 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 at University, National and World level.

We have been working with a local sea scout group who are developing a small team of instructors with a plan for them to become self sufficient in 2 years’ time when their current qualified senior instructor retires.

Two of our assistant instructors qualified as full Dinghy Instructors and two of our experienced Dinghy Instructors started on the training to become Senior Instructors. Our numbers of qualified instructors 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 instructors whilst making the best use of the resources we do have remains a long-term priority.

We were able to run Powerboat courses for the first time since 2019. We trained 4 members and 2 Assistant Instructors at the end of 2023. We have put plans in place for another course early in 2024, which will help provide qualified drivers for general club activities.

The level of training we were able to deliver in 2023 was slightly above the level in 2022. We remain extremely fortunate to have a pool of capable and determined volunteers but, with changing leisure patterns and ever more calls on people’s 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.

Page 5

DocuSign Envelope ID: FF324C3B-882E-4648-A3EA-A763568722A1

DORCHESTER SAILING CLUB (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED DECEMBER 31, 2023

Achievements and performance (continued)

c. Facilities Use by Others

Oxfordshire County Scouts Association (OCSA) did not restart its sail training activities at DSC in 2023 because OCSA did not have a Senior Instructor available to supervise. However, DSC loaned a number of sailing dinghies to OCSA for its Aquacamp event in Summer 2023 . OCSA’s fleet of sailing dinghies and associated equipment continue to be stored at DSC.

Abingdon Sea Scouts had not carried out any activities at DSC since 2019 (due to COVID) but resumed activities in 2023..

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.

During 2023 City Barge Rowing Club have used DSC’s lake for rowing their Venetian style boats when the Thames has been closed to rowers. They have also stored two of their boats at DSC.

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 £5,074 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 or from a significant increase in expenses. Any events that may lead to the lake being unable to be used for sailing pose risks to the club’s finances if the cause is sustained for a long time. 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 to reduce 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 2023 there was significant early weed growth despite using dye at a higher than normal concentration. The lake water level also fell during the summer. Hence we had to contract for 10 days of weed cutting, over the whole of the summer, to try to keep the lake sailable. During midsummer the lake became quite difficult to sail on over much of the area, though the weed then died away fairly quickly and did not regrow after a second cut and clear. This meant the annual budget for weed management proved insufficient and the club spent £5,014 more than budgeted on weed management. An annual budget of £7,875 is reserved for weed operations in 2024; this is to purchase dye and add it at a double concentration in the hope this will reduce the likelihood of having to cut the weed. The budget also allows for 3-4 days of cutting if required.

Though we have seen a squeeze on personal finances, the Committee is proposing, at the upcoming AGM, a rise in membership and other club charges. These rises are due to the costs increasing for all utilities and services required to run the club. The Committee believe the rises are reasonable, but increase cost of membership coupled with deterioration in many people's financial situation may lead to a reduction in membership.

Lastly the club is not immune to pressures from inflation, though inflation is expected to ease somewhat in 2024.

Page 6

DocuSign Envelope ID: FF324C3B-882E-4648-A3EA-A763568722A1

DORCHESTER SAILING CLUB (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED DECEMBER 31, 2023

Achievements and performance (continued)

Hence, the Committee believes 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 31/12/2023 income and costs

The year 2023 saw a return to normal for the club. The club ran an Easter Holiday and Spring training course as well as two Summer Holiday courses and an Autumn Weekend youth training. The take up was very good. Hence revenue from training is back to pre-pandemic levels.

Membership numbers (both renewals and new members) reduced in the year, but not as much as forecast in our budget. Hence operating income exceeded the budget for the year at £68,163 . This included £5,803 of income, 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 £70,791 including depreciation. In 2023 we saw increases in insurance cost (up £1,272), water (up £2,717), telephone, electricity, power boat costs and many other inflation linked increases. The water increase comes from the significant increase in water costs hitting the club this year, coupled with a water leak which has now been fixed. Maintenance costs of the club property and boats is a fairly volatile item, though these costs are slightly lower than average on the year. Cash at bank increased by £698 to £144,618 including reserves. The club bought one Topper dinghy hull and three second hand Tera dinghies, increasing the capital account by £4,840. Depreciation in the year was £10,284, and mortgage repayments totalled £2,601 .

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 worsened slightly over the year, with the club making a loss of £2,551 prior to mortgage repayments. This loss was caused by some exceptional items (a water leak and significantly increased cost of weed control), which are unlikely to re-occur. But the Club has sufficient reserves to offset this slight loss and any more significant downturn in revenues and costs in 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. Organisation 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 2022) 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.

Page 7

DocuSign Envelope ID: FF324C3B-882E-4648-A3EA-A763568722A1

DORCHESTER SAILING CLUB (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED DECEMBER 31, 2023

Achievements and performance (continued)

Day to day management of the Club and its activities is managed by the Management Committee comprising the trustees and other members of the Club elected at the AGM or co-opted. There were five non-trustee 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 concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

a. Constitution

Dorchester Sailing Club is registered as a charitable company limited by guarantee and was set up by a Trust deed.

b. Methods of appointment or election of Trustees

The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

Page 8

DocuSign Envelope ID: FF324C3B-882E-4648-A3EA-A763568722A1

DORCHESTER SAILING CLUB (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED DECEMBER 31, 2023

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Company 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 Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to 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 the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence 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:

==> picture [147 x 37] intentionally omitted <==

----- Start of picture text -----
................................................
----- End of picture text -----

................................................ ................................................ L O'Donald N Macdonald Trustee Trustee Date: 21-03-24

Page 9

DocuSign Envelope ID: FF324C3B-882E-4648-A3EA-A763568722A1

DORCHESTER SAILING CLUB (A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED DECEMBER 31, 2023

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 Year ended December 31, 2023.

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.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  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 accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; 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 this report in order to enable a proper understanding of the accounts to be reached.

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.

Page 10

DocuSign Envelope ID: FF324C3B-882E-4648-A3EA-A763568722A1

DORCHESTER SAILING CLUB (A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED DECEMBER 31, 2023

Signed:

Stuart P Crook

Dated:

FCA

Wellers

Milweye Court 73 Southern Road Oxon Thame Oxfordshire OX9 2ED

Page 11

DocuSign Envelope ID: FF324C3B-882E-4648-A3EA-A763568722A1

DORCHESTER SAILING CLUB

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED DECEMBER 31, 2023

Note
Income from:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2023
£
77
66,503
1,660
68,240
70,791
70,791
(2,551)
563,039
(2,551)
560,488		 Total
funds
2023
£
77
66,503
1,660
68,240
70,791
70,791
(2,551)
563,039
(2,551)
560,488		 Total
funds
2022
£
311
71,965
126
72,402
69,462
69,462
2,940
560,099
2,940
563,039

The Statement of financial activities includes all gains and losses recognised in the Year.

The notes on pages 15 to 24 form part of these financial statements.

Page 12

DocuSign Envelope ID: FF324C3B-882E-4648-A3EA-A763568722A1

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

BALANCE SHEET AS AT DECEMBER 31, 2023

Note
Fixed assets
Tangible assets
9
Current assets
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within one
year
11
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
12
Net assets excluding pension asset
Total net assets
Charity funds
Restricted funds
14
Unrestricted funds
14
Total funds		 200
144,618
144,818
(6,987)		 2023
£
425,843
425,843
137,831
563,674
(3,186)
560,488
560,488
-
560,488
560,488		 200
143,919
144,119
(6,987)		 2022
£
431,287
431,287
137,132
568,419
(5,380)
563,039
563,039
-
563,039
563,039

The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the Year in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Page 13

DocuSign Envelope ID: FF324C3B-882E-4648-A3EA-A763568722A1

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

BALANCE SHEET (CONTINUED) AS AT DECEMBER 31, 2023

==> picture [108 x 37] intentionally omitted <==

==> picture [147 x 37] intentionally omitted <==

L O'Donald N Macdonald Trustee Trustee Date: 21-03-24

The notes on pages 15 to 24 form part of these financial statements.

Page 14

DocuSign Envelope ID: FF324C3B-882E-4648-A3EA-A763568722A1

DORCHESTER SAILING CLUB (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2023

1. General information

Dorcheser Sailing Club is a company limited by guarantee. The registered office is 73 Southern Road, Thame, Oxfordshire, OX9 2ED. The members of the company are the Trustees named on page 1. 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.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 2019), 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.

2.2 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.

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 is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement 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 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.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.

Page 15

DocuSign Envelope ID: FF324C3B-882E-4648-A3EA-A763568722A1

DORCHESTER SAILING CLUB (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2023

2. 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 asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Freehold property - not depreciated
Plant and machinery - 2% Straight line
Motor vehicles - 10% Reducing balance
Fixtures and fittings - 15% Reducing balance
Computer equipment - 33% Straight line

2.5 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.

2.6 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.

2.7 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 in the Statement of financial activities as a finance cost.

Page 16

DocuSign Envelope ID: FF324C3B-882E-4648-A3EA-A763568722A1

DORCHESTER SAILING CLUB (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2023

2. Accounting policies (continued)

2.8 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.

2.9 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.

Investment income, gains and losses are allocated to the appropriate fund.

3. Income from donations and legacies

Unrestricted
funds
2023
£
Donations
77
Total 2022
311
Income from charitable activities
Unrestricted
funds
2023
£
Provision of sailing & other watersports activities
66,503
Total 2022
71,965		 Total
funds
2023
£
77
311
Total
funds
2023
£
66,503
71,965		 Total
funds
2022
£
311
Total
funds
2022
£
71,965

4. Income from charitable activities

Page 17

DocuSign Envelope ID: FF324C3B-882E-4648-A3EA-A763568722A1

DORCHESTER SAILING CLUB

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2023

5. Investment income

Unrestricted
funds
2023
£
Investment income
1,660
Total 2022
126		 Total
funds
2023
£
1,660
126		 Total
funds
2022
£
126

6. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted
funds
2023
£
Direct costs
23,294
Repairs and maintenance
6,435
Insurance
7,363
Weed control
12,264
Printing, postage and stationary
307
Expenditure on governance
2,413
Telephone
999
Legal and professional
35
Rates
5,024
Cleaning
1,966
Bank charges
407
Depreciation
10,284
Total 2023
70,791
Total 2022
69,462		 Total
2023
£
23,294
6,435
7,363
12,264
307
2,413
999
35
5,024
1,966
407
10,284
70,791
69,462		 Total
2022
£
26,427
10,854
6,091
7,416
37
2,813
857
40
2,136
1,872
282
10,637
69,462

Page 18

DocuSign Envelope ID: FF324C3B-882E-4648-A3EA-A763568722A1

DORCHESTER SAILING CLUB (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2023

7. Independent examiner's remuneration

2023 2022
£ £
Fees payable to the Company's independent examiner for the independent
examination of the Company's annual accounts 2,400 2,400

8. Trustees' remuneration and expenses

During the Year, no Trustees received any remuneration or other benefits (2022 - £NIL) .

During the Year ended December 31, 2023, no Trustee expenses have been incurred (2022 - £NIL) .

9. Tangible fixed assets

Cost or valuation
At 1 January 2023
Additions
At December 31,
2023
Depreciation
At 1 January 2023
Charge for the Year
At December 31,
2023
Net book value
At December 31,
2023
At December 31,
2022		 Freehold
property
£
189,483
-
189,483
-
-
-
189,483
189,483		 Plant and
machinery
£
283,735
-
283,735
81,533
5,675
87,208
196,527
202,202		 Motor
vehicles
Fixtures
and fittings
£
£
81,968
60,148
4,840
-
86,808
60,148
50,976
51,537
3,319
1,292
54,295
52,829
32,513
7,319
30,992
8,611		 Office
equipment
£
442
-
442
442
-
442
-
-		 Total
£
615,776
4,840
620,616
184,488
10,286
194,774
425,842
431,288

Page 19

DocuSign Envelope ID: FF324C3B-882E-4648-A3EA-A763568722A1

DORCHESTER SAILING CLUB

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2023

10. Debtors

Trade debtors
Due within one year
Other debtors		 2023
£
200
200		 2022
£
200
200

11. Creditors: Amounts falling due within one year

Bank loans
Other creditors
Accruals and deferred income
12.
Creditors: Amounts falling due after more than one year
Bank loans
13.
Financial instruments
Financial assets
Financial assets measured at fair value through income and expenditure		 2023
£
1,888
2,700
2,399
6,987
2023
£
3,186
2023
£
144,618		 2022
£
1,888
2,700
2,399
6,987
2022
£
5,380
2022
£
143,919

Financial assets measured at fair value through income and expenditure comprise of cash and cash equivalents.

Page 20

DocuSign Envelope ID: FF324C3B-882E-4648-A3EA-A763568722A1

DORCHESTER SAILING CLUB (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2023

14. Statement of funds

Statement of funds - current Year
Balance at
January 1,
2023
£
Unrestricted funds
Designated funds
Designated Funds - all funds
-
General funds
General Funds - all funds
563,039
Total Unrestricted funds
563,039		 Income
£
Expenditure
£
-
-
68,240
(70,791)
68,240
(70,791)		 Transfers
in/out
£
10,000
(10,000)
-		 Balance at
December
31, 2023
£
10,000
Unrestricted funds
Designated funds
Designated Funds - all funds
General funds
General Funds - all funds
Total Unrestricted funds
550,488
560,488

Page 21

DocuSign Envelope ID: FF324C3B-882E-4648-A3EA-A763568722A1

DORCHESTER SAILING CLUB (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2023

14. Statement of funds (continued)

Statement of funds - prior Year

Unrestricted funds
Designated funds
Designated Funds - all funds
General funds
General Funds - all funds
Total Unrestricted funds		 Balance at
January 1,
2022
£
-
560,099
560,099		 Income
£
-
72,401
72,401		 Expenditure
£
-
(69,461)
(69,461)		 Transfers
in/out
£
10,000
(10,000)
-		 Balance at
December
31, 2022
£
10,000
553,039
563,039

15. Summary of funds

Summary of funds - current Year

Designated funds
General funds		 Balance at
January 1,
2023
£
-
563,039
563,039		 Income
£
Expenditure
£
-
-
68,240
(70,791)
68,240
(70,791)		 Transfers
in/out
£
10,000
(10,000)
-		 Balance at
December
31, 2023
£
10,000
550,488
560,488

Page 22

DocuSign Envelope ID: FF324C3B-882E-4648-A3EA-A763568722A1

DORCHESTER SAILING CLUB

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2023

15. Summary of funds (continued)

Summary of funds - prior Year

Designated funds
General funds		 Balance at
January 1,
2022
£
-
560,099
560,099		 Income
£
-
72,401
72,401		 Expenditure
£
-
(69,461)
(69,461)		 Transfers
in/out
£
10,000
(10,000)
-		 Balance at
December
31, 2022
£
10,000
553,039
563,039

16. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2023
£
Tangible fixed assets
425,843
Current assets
144,818
Creditors due within one year
(6,987)
Creditors due in more than one year
(3,186)
Difference
1
Total
560,489
Analysis of net assets between funds - prior year
Unrestricted
funds
2022
£
Tangible fixed assets
431,288
Current assets
144,119
Creditors due within one year
(6,987)
Creditors due in more than one year
(5,380)
Other unallocated
(3)
Total
563,037		 Total
funds
2023
£
425,843
144,818
(6,987)
(3,186)
(1)
560,489
Total
funds
2022
£
431,288
144,119
(6,987)
(5,380)
(3)
563,037

Page 23