2023-04-30-accounts

Objecti	v	e	s and	Activ	itie	s
						SORP reference
Summary		ofthe purposes			of	Para 1.17	To advance ths preservation and
the charity			as set out	in its			conservation of the Brixham based heritage
governing			document				sailing trawler "Vigilance BM76"for the public
							benefit and,
							Toadvance education for the public benefit in
							the subject of Vigilance BM76, sail trawlers
							and the social, industrial, and sailing heritage
							and histo associated with this.
Summary activities		ofthe main in relation to those				Para 1.17and 1.19	Fund raising by the Fundraising team and social committee of Friends of the Vigilance
purposes		for the public					to provide ongoing finance for the purposes
benefit,	in particular,			the			of restoration and conservation of the vessel
activities,		projects or		services			Vigilance BM76.
identified		in the accounts.					After Covid 19 restrictions were eased and
							our EOI to the National Heritage Memorial
							Fund was accepted and we were invited to
							make a full formal submission. This
							submission resulted in Vigilance being
							awarded f820K, in May 2022, to rescue the
							boat and complete a below the line repair in
							Stirling 8 Son shipyard in Plymouth,
							commencing end of September 2022.
							Further substantial funds will be required to
							complete the full repair, prior to Vigilance
							being returned to Brixham to resume its full
							activities. The NHMF has been approached
							to fund the increase in the repair budget
							caused by discovered issues 6 decay within
							the basic fabric ofthe boat.
Statement			confirming			Para 1.18	All Trustees have had regard and have also
whether	the trustees			have			received the guidance notes issued by the
had regard			to ths guidance				Charity Commission on public benefit.
issued by		the Charity
Commission			on public
benefit
Additional		Information (optional)
You ma	choose to include				further statements		where relevant about:
						SORP reference

					All decisions	on possible	on possible	grants/donations	grants/donations
				Para 1.38	have been	taken at a	full	meeting of the
Policy on	grant making				Trustees.
					N/A
				Para 1.38
Policy on	social investment
including	program		related
investment
					All Trustees	and Members			are willing
				Para 1.38	volunteers and continue		to	give	of their time
Contribution		made	by		without any	remuneration.		It is	notable that
volunteers					several Trustees and		Officers		have given
					considerable	time and	effort		to our new
					projects and	to the operational			aspects of
					Vigilance since the C.I.O. took				ownership of
					Vigilance.
					It is also commendable		that	the	contributions
					of volunteer	crew and	has	been significant
					during the	uncertainty		and	restrictions
					imposed by	Covid 19 and once COVID
					restrictions were released.
Other

Achieve	men	ts	and Per	formance
				SORP reference
					Once support from NLHF was withdrawn, due
					to COVID	period realignment of
					requirements,	other minor income streams
Summary ofthe main achievements ofthe charity,				Para 1.20	have remained steady with the addition of retail income from trading Vigilance and her
identifying	the	difference the			brand.
charity's	work	has made to			Donations in this period to "Vigilance BM76"
the circumstances			of its		have included	receipt of all pledges to be
beneficiaries and			any wider		used for general purposes 'safety net' and
benefits to society as a					has succeeded	in generating the necessary
whole.					'partnership' funding required by the NHMF.
					The Fundraising strategy has adapted
					several times	over time to maximise our
					efforts and	deal with the changing
					circumstances.
					Trustees have	continued to be proactive in
					this period in encouraging and recruiting and
					training new	volunteers with the requisite
					skills to further achieve our Aims and
					Objectives.
					Much effort	has been given towards
					improving our	structure / organisation with
					re ard to our	future as irations and for the

benefit of all	our	members	and for the	people
of Brixham	and	Torbay.	The trustees are
investigating	possible		collaborations	with
other charities		and	sailing	based
organisations.

You ma	choose to include	choose to include	choose to include	further statements	where relevant about
					General objectives were set in the	period
					towards possible avenues of grant	funding
Achievements			against	Para 1.41	and NHMF project targets. A full fundraising
objectives set					strategy was devised regarding our new
					project targets and was initiated in part during
					this eriod.
					Apart from the major success, during	the year
Performance			offundraising		under review, of receiving the NHMF	award,
activities set	against objectives			Para 1.41	small successes were also achieved this period.	during
					A review ofpotential investment opportunities
Investment		performance			was made and are being pursued
against	objectives			Para 1.41	The majority of charity funds will be required
					to meet our share of Phase 1 repairs.
Other

Financ	ial Review	ial Review	ial Review	ial Review	ial Review	ial Review	ial Review
Review	of the charity's									Pare 1.21	At the end of this period of operation the
financial		position at					the	end			Charity's financial position is considered to be
ofthe period											satisfactory. This is due to an accumulation of
											granted funds secured for general purposes
											but earmarked for project expenditure. The
											present challenge is to raise sufficient funds
											to meet the increased costs of the repair.
											Both labour rates and material costs have
											increased since the boat entered the
											shipyard, and discovered issues which have
											to be addressed have taken the budget
											considerabl over the ori inal fi ure.
Statement			explaining				the			Pare 1.22	At the present time the Trustees have agreed
policy for		holding			reserves						that a prudent reserve to cover any
stating	why		they are				held				unforeseen contingencies of at least
											F10,000.00should be maintained in the Bank
											Accounts ofthe CIO.
Amount	of		reserves				held			Pare 1.22	810,000.00
Reasons		for		holding			zero			Para 1.22	N/A
reserves
Details deficit concern	of fund materially								in	Para 1.24	N/A
Explanation				ofany						Para 1.23	Our current situation operationally is that we
uncertainties				about the							have committed funds to support the original
charity	continuing					as a going					budget of Phase 1 'Below the Water Line'
											repair works. Funds are required to complete
											the new work identified, and mandated by our
											Marine Surveyor, for repairing up to the sheer
											line. Receiving further funding will be
											imperative to allow the decking work
											necessary to complete the full repair to
											secure Vi ilance's future.
Additional		Information						(optional)
You ma	choose to					include			further statements		where relevant about
											In this period of the CIO sources of income
											have continued to originate from fund raising
The charity's principal sources offunds (induding										Para 1.47	activities in the local community, open to all members and the general public.
any fundraising)											Also specific pledges have been received
											resulting from successful funding
											applications.
											Income related to Torbay Lottery and use of
											Virgin Money Giving & Just Giving in
											conjunctions with events was also received.
											Trading income is now one of the charities
											main streams.
											The main funding success during the year
											was the NHMF award.
Investment objectives		policy induding			and any					Para 1.46
social investment					policy
adopted

			The charities main commercial asset	The charities main commercial asset	The charities main commercial asset	will	will	not
			be fully operational	without further			major
A description	ofthe principal	Para 1.46	sponsors to support	the balance ofPhase				1 &
risks facing	the charity		Phase 2 repair work,	during 2023/24.
Structure,	Governance	and Management
Description	ofcharity's
trusfs:
Type of governing document		Para 1.26	Charity Commission	Model Constitution			and
			dated 30th March 2016.
How is the charity		Para 1.25	Charitable Incorporated Organisation			with		a
constituted7			maximum ofseven Trustees.
Trustee selection methods		Para 1.26	The present Trustees have been		selected
including details ofany			with a view to a wide	ranging and professional
constitutional	provisions e.g.		background, in order to complement					and
election to post or name of			enhance the aims	and objectives			of	the
any person	or body entitled		organisation.
to appoint one or more			At present the board	if made up of 6	trustees
trustees

ou ma		choo	se to include	furth	er statements	where relevant about	where relevant about	where relevant about
						All new Trustees have			been provided	with	a
						copy of the Constitution, the Institute					of
Policies adopted		and procedures for the induction		and	Para 1.51	Fundraising guide and		Handbook, policy	the Essential documents	Trustee where
training		oftrustees				appropriate.
						The charity		is made up ofTrustees/
The charity's			organisational			Directors,	officers and		project teams.
structure network		and with	any wider which the		Para 1.51	There are	3	official offices, Chair / Sales &
charit	works					Marketin	/ Treasurer		&Secreta
Relationship			with any related
parties					Para 1.61
Other

Chari	name			Friends of the Vi ilance
Other name the chari			uses
Re istered char'		number		1168570
Charity's	principal	address		13Deep Dene Close,
				Brixham,
				Devon,
				TQ5 ODZ.

mes ofthe charity	trustees who manag	trustees who manag	e the	charity
Trustee name	Office lif sny)			Dates acted ear	Ifnot for whole
Neil Murray	Chair/Trustee			Appointed	07/09/2020
Nigel Gooding	Treasurer,	Secretary		Appointed	07/09/2020
	&Trustee
Clive Robson	Sales, Marketing		&	Appointed	07/09/2020
	Trustee			Resigned	22/08/2023
Peter Milligan	Trustee			Appointed	21/03/2023
Colin Mawbey	Trustee			Appointed	13/06/2023
Heather Keeling	Trustee			Appointed	17/07/2023
Carolyn Brown	Trustee			Appointed	17/10/2023

				2023	2022
Rece/ ts:
Grants-Culture Recovery	Fund				11,000
Grants- NHMF				166,139
Grants- Council &Community				5,000
Grants-Corporate				60,650
Donations, Sponsorship	& Events			6,011	3,665
Missin Tackle Concert Donations					1,115
Torbay Lottery				926	1,458
Sailing Bookings				550	12,661
Merchandise Sales				2,072	3,401
Amazon Smile Donations				69	68
Bank Savings Interest Received				197	12
Sundry income				92
				240,606	33,380
Pa ments
Repairs & Maintenance				248,678	12,638
Repairs & Maintenance 20/21					346
Insurance				7,002	5,464
Mooring Fees and Harbour		Dues		4,150	1,400
Running costs				88
Purchase of Merchandising		Stock		1,650	1,409
Event Costs				477	715
Purchase of Equipment				914	387
Galley & refreshment supplies				190
Professional Fees &Consultancy				4,729	3,055
Sage Accounting-Finance	Package			180	15
Lottery Fund Bids Consultancy			Fees		1,050
Independent Examination	Fees			450
Postage, Printing, Stationery			&Telephone	830	1,038
Marketing & media				1,568	879
Internet, website &software				969
Travel &subsistence				483
Bank charges				386
Miscellaneous Subs &Fees				185	100
				272,157	28,496
VA7 Adjustment
Recoverable VAT				952	695
Recovered VAT from Prior Period 20/21					1,150
				271,205	28,041
Net Surplus/(Deficit) for the Period				30,599	5,339
Bank Balances at start of the	year			138480	133,141
Bank Balances at end ofthe	year			107,881	138,480

				2023	2022
Assets:
Fixed	Assets:
	Vigilance	Heritage	Trawler
Cash	Funds
	Nat West	Current	Account	3,194	1,772
	Nat West	Savings	Account	86,082	123,555
	CAF Bank	Current	Account	1,184	1,044
	CAF Bank	Savings	Account	16,631	9,001
	PayPal Account			745	3,108
	Petty cash			45
Total	Cash Funds			107,881	138,480
Debtors
	VAT Recoverable				695
Total	Debtors				1,150
Liabilties
	Creditors
	Accrued expenses			450	960
Total	Liabilties			450	960