2025-04-30-accounts - Vigilance of Brixham

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

Trustees’ Annual Report for the period

From 1st May 2024 to 30th April 2025 (12 months)

Charity name: VIGILANCE OF BRIXHAM CIO

Charity registration number: 1168570

Objectives and Activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	To advance the preservation and conservation of the Brixham based heritage sailing trawler “Vigilance BM76” for the public benefit and, To advance education for the public benefit in the subject of Vigilance BM76, sail trawlers and the social, industrial, and sailing heritage and history associated with this.
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	Work continued with the repair to hull, decks and engine plus associated works at Stirling & Sons, Devonport. On 8thApril 2025 Vigilance was motored back from Devonport to Brixham ready for the remainder of her repair, to be carried out by the volunteer team. These extensive repairs are required to enable future generations to sail on Vigilance and also for her to be used for educational purposes in the local community.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	All Trustees have received and have had regard to the guidance notes issued by the Charity Commission on public benefit.

Additional information (optional) You may choose to include further statements where relevant about:

	SORP reference
Policy on grant making	Para 1.38	All decisions on possible grants/donations have been taken at a full meeting of the Trustees.
Policy on social investment including program related investment	Para 1.38	N/A
	Para1.38	All Trustees and Members are willing volunteers and continue togive of their time

Contribution made by volunteers		without any remuneration. It is notable that 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 volunteers continued to be significant during the period when Vigilance was away from Brixham for works to be undertaken.
Other

Achievements and Performance

	SORP reference
Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	While the majority of financial movement, in and out, has related to the major works under way, other minor income streams have remained steady including retail income from trading Vigilance and her brand. Donations in this period to “Vigilance BM76” have included receipt of pledges to be used for general purposes ‘safety net’ and have continued to provide the necessary ‘partnership’ funding required by the NHMF. The Fundraising strategy continues to adapt over time to maximise our efforts and respond to changing circumstances. Trustees have continued to be proactive in this period in encouraging, recruiting and training new volunteers with the requisite skills further to achieve our Aims and Objectives. Much effort has been given towards improving our structure / organisation with regard to our future aspirations 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, for example by beginning regular co-operation meetings with Pilgrim BM45.

Additional information (optional) You may choose to include further statements where relevant about:

Achievements against objectives set	Para 1.41	The main objective was to launch Vigilance in March and on budget. Both were achieved. We reorganised ourselves to be able to operate Vigilance on a self financing basis, after several years not sailing. Good proress was made in this year.

Performance of fundraising activities against objectives set	Para 1.41	We continued to draw down on the NHMF and NLHF funds by meeting their stage payment triggers. Local fund-raising efforts continued.
Investment performance against objectives	Para 1.41	Sufficient money has been raised via the previous agreed NHMF and NLHF grants and local fund raising to enable the full repair to continue as planned. Cost control has been very effective with the repair remaining in line withexpectations.
Other

Financial Review

Financial Review
Review of the charity’s financial position at the end of the period	Para 1.21	The charity had sufficient cash in hand and committed grants to proceed with the full repair as planned. It also had a business plan showing how Vigilance will operate in self- sufficiently from Spring 2026.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	The Trustees have agreed that a prudent reserve to cover any unforeseen contingencies of at least £10,000.00 should be maintained in the Bank Accounts of the CIO.
Amount of reserves held	Para 1.22	£10,000.00
Reasons for holding zero reserves	Para 1.22	N/A
Details of fund materially in deficit	Para 1.24	N/A
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23	Continued tight project management and cost control are required to bring the project in on budget. We are confident that we will achieve this.

Additional information (optional)

Additional information (optional)	Additional information (optional)	Additional information (optional)
You may choose to include further statements where relevant about:
The charity’s principal sources of funds (including any fundraising)	Para 1.47	In this period of the CIO sources of income have continued to originate from fund raising activities in the local community, open to all members and the general public. Also specific pledges have been received resulting from successful funding applications, including the large NHMF and NLHF grants. Income related to Torbay Lottery and use of Buy me a Coffee & Just Giving in conjunction with events was also received. Trading income will start to be the main source of funds from May 2026.
Investment policy and objectives including any social investment policy adopted	Para 1.46	N/A
A description of the principal risks facing the charity	Para 1.46	The charity will be dependent on funding from trading activities from May 2026 and our plans reflect this. Our ability to build new commercial capabilties and rebuild our team of skippers and crew are fundamental to the delivery of these plans.

Structure, Governance and Management

Description of charity’s trusts:
Type of governing document	Para 1.25	Charity Commission Model Constitution and dated 30th March 2016.

How is the charity constituted?	Para 1.25	Charitable Incorporated Organisation with a maximum of seven Trustees.
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	The present Trustees have been selected with a view to a wide ranging and professional background, in order to complement and enhance the aims and objectives of the organisation. At present the board if made up of 5 trustees
Additional information (optional) You may choose to include further statements where relevant about:
Policies and procedures adopted for the induction and training of trustees	Para 1.51	All new Trustees have been provided with a copy of the Constitution, the Institute of Fundraising Handbook, the Essential Trustee guide and policy documents where appropriate.
The charity’s organisational structure and any wider network with which the charityworks	Para 1.51	The charity is made up of Trustees/ Directors, officers and project teams. There are 3 official offices, Chair, Treasurer & Secretary
Relationship with any related parties	Para 1.51	N/A
Other

Reference and Administrative details

Charityname	Vigilance of BrixhamCIO
Other name the charity uses
Registered charity number	1168570
Charity’s principal address	13 Deep Dene Close, Brixham, Devon, TQ5 0DZ.

Names of the charity trustees who manage the charity

Trustee name	Office (if any)	Dates acted if not for whole year
Rob Murray	Chair	Appointed July24
Peter Milligan	Trustee	Appointed 21/03/2023
Heather Keeling	Trustee	Appointed 17/07/2023
Carolyn Brown	Trustee	Appointed 17/10/2023
Rev Christopher North	Trustee	Appointed 07/11/2023

9 1 0

– Corporate trustees names of the directors at the date the report was approved

Director name N/A

Name of trustees holding title to property belonging to the charity

Trustee name	Dates acted if not for wholeyear
N/A

Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity

Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of	Name	Address
adviser
Accountant	Ian Barrett FCA	22 Union Street Newton Abbot Devon TQ12 2JS
	FCIE

Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

N/A

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Rob Murray Full name(s) Rob Murray Position: Chair of Trustees Date 30th October 2025

REGISTERED CHARITY NUMBER: 1168570

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025

FOR

VIGILANCE OF BRIXHAM CIO

Barretts Chartered Accountants & Chartered Tax Advisers

22 Union Street Newton Abbot Devon TQ12 2JS

VIGILANCE OF BRIXHAM CIO

CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 30 April 2025

		Page
Report of the Trustees	1	to	3
Independent Examiner's Report		4
Statement of Financial Activities		5
Balance Sheet		6
Cash Flow Statement		7
Notes to the Cash Flow Statement		8
Notes to the Financial Statements	9	to	12
Detailed Statement of Financial Activities		13

VIGILANCE OF BRIXHAM CIO

for the Year Ended 30 April 2025

REPORT OF THE TRUSTEES

The trustees present their report with the financial statements of the charity for the year ended 30 April 2025. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

To advance the preservation and conservation of the Brixham based heritage sailing trawler "Vigilance BM76" for the public benefit and,

To advance education for the public benefit in the subject of Vigilance BM76, sail trawlers and the social, industrial, and sailing heritage and history associated with this.

Significant activities

Work continued with the repair to hull, decks and engine plus associated works at Stirling & Sons, Devonport. On 8th April 2025Vigilance was motored back from Devonport to Brixham ready for the remainder of her repair, to be carried out by the volunteer team. These extensive repairs are required to enable future generations to sail on Vigilance and also for her to be used for educational purposes in the local community.

Public benefit

All Trustees have had regard and have also received the guidance notes issued by the Charity Commission on public benefit.

Grantmaking

All decisions on possible grants/donations have been taken at a full meeting of the Trustees.

Volunteers

All Trustees and Members are willing volunteers and continue to give of their time without any remuneration. It is notable that 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 volunteers continued to be significant during the period when Vigilance was away from Brixham for works to be undertaken.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

While the majority of financial movement, in and out, has related to the major works under way, other minor income streams have remained steady including retail income from trading Vigilance and her brand.

Donations in this period to “Vigilance BM76” have included receipt of pledges to be used for general purposes ‘safety net’ and have continued to provide the necessary ‘partnership’ funding required by the NHMF.

The Fundraising strategy continues to adapt over time to maximise our efforts and respond to changing circumstances. Trustees have continued to be proactive in this period in encouraging, recruiting and training new volunteers with the requisite skills further to achieve our Aims and Objectives.

Much effort has been given towards improving our structure / organisation with regard to our future aspirations 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, for example by beginning regular co-operation meetings with Pilgrim BM45.

Fundraising activities

In this period of the CIO sources of income have continued to originate from fund raising activities in the local community, open to all members and the general public.

Also specific pledges have been received resulting from successful funding applications, including the large NHMF and NLHF grants.

Income related to Torbay Lottery and use of Buy me a Coffee & Just Giving in conjunction with events was also received.

Trading income will start to be the main source of funds from May 2026.

Page 1

VIGILANCE OF BRIXHAM CIO

REPORT OF THE TRUSTEES

for the Year Ended 30 April 2025

ACHIEVEMENTS AND PERFORMANCE

Investment performance

The majority of charity funds are required to meet our share of Phase 1 and 2 repairs. Further fundraising is under way to secure the funds needed to complete deck replacement before Vigilance returns to Brixham.

Internal and external factors

The charity's main commercial asset will not be fully operational without further major sponsors to support the balance of Phase 1 & Phase 2 repair work, during 2023/24/25.

FINANCIAL REVIEW

Financial position

At the end of this period of operation the Charity's financial position is considered to be satisfactory. With the increase in funding for the NHMF-funded works, major expenditure is proceeding to plan, and at the end of the financial year measures were well advanced to secure the finds to complete works to the deck and above. Budget has been amended to deal with increases in labour rates and material costs reported previously, and the revised work plan to deck level was on target.

Principal funding sources

In this period of the CIO sources of income have continued to originate from fund raising activities in the local community, open to all members and the general public.

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 extension of the NHMF award.

Reserves policy

The Trustees have agreed that a prudent reserve to cover any unforeseen contingencies of at least £10,000 should be maintained in the Bank Accounts of the CIO.

Going concern

At the end of the year under report, funds had been secured to enable the revised programme of works to deck level to proceed. Further funding is needed to enable works to the deck and above to be completed, with decisions on applications expected in the first two months of the new financial year. Efforts to raise charitable funds from individuals to support this were also under way.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Charity Commission Model Constitution for an Association CIO, dated 30th March 2016 as amended on 30th July 2020 and 20th February 2025.

Recruitment and appointment of new trustees

The present Trustees have been selected with a view to a wide ranging and professional background, in order to complement and enhance the aims and objectives of the organisation. At present the board if made up of 5 trustees.

Induction and training of new trustees

All new Trustees have been provided with a copy of the Constitution, the Institute of Fundraising Handbook, the Essential Trustee guide and policy documents where appropriate.

Risk management

The charity will be dependent on funding from trading activities from May 2026 and our plans reflect this. Our ability to build new commercial capabilities and rebuild our team of skippers and crew are fundamental to the delivery of these plans.

Page 2

VIGILANCE OF BRIXHAM CIO

REPORT OF THE TRUSTEES

for the Year Ended 30 April 2025

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1168570

Principal address

Friends of Vigilance CIO C/o Nigel Gooding 13 Deep Dene Close Brixham Devon TQ5 0DZ

Trustees

P Milligan Secretary and acting chair to July 2024 Ms H Keeling Ms C Brown Rev C D North R C Murray Chair (appointed 18.8.24)

Independent Examiner

Ian Barrett FCA FCIE Barretts Chartered Accountants & Chartered Tax Advisers 22 Union Street Newton Abbot Devon TQ12 2JS

Approved by order of the board of trustees on 30 October 2025 and signed on its behalf by:

R C Murray - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF VIGILANCE OF BRIXHAM CIO

Independent examiner's report to the trustees of Vigilance of Brixham CIO

I report to the charity trustees on my examination of the accounts of Vigilance of Brixham CIO (the Trust) for the year ended 30 April 2025.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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

accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Ian Barrett FCA FCIE

Barretts Chartered Accountants & Chartered Tax Advisers 22 Union Street Newton Abbot Devon TQ12 2JS

31 October 2025

Page 4

VIGILANCE OF BRIXHAM CIO

STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 30 April 2025

2025 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 685,669 Other trading activities 3 1,225 Investment income 4 1,017 Total 687,911 EXPENDITURE ON Charitable activities 5 Charitable activities 680,600 NET INCOME/(EXPENDITURE) 7,311 RECONCILIATION OF FUNDS Total funds brought forward 44,931 TOTAL FUNDS CARRIED FORWARD 52,242	2024 Total funds £ 553,399
	3,543
	1,466
	558,408

	622,212
	(63,804)
	108,735

	44,931

The notes form part of these financial statements

Page 5

VIGILANCE OF BRIXHAM CIO

BALANCE SHEET

30 April 2025

2025 Unrestricted fund Notes £ FIXED ASSETS Heritage assets 8 1 CURRENT ASSETS Debtors 9 38,464 Cash at bank and in hand 14,936 53,400 CREDITORS Amounts falling due within one year 10 (1,159) NET CURRENT ASSETS 52,241 TOTAL ASSETS LESS CURRENT LIABILITIES 52,242 NET ASSETS 52,242 FUNDS 11 Unrestricted funds 52,242 TOTAL FUNDS 52,242	2024 Total funds £ 1 10,131 90,332
	100,463
	(55,533) 44,930 44,931
	44,931
	44,931 44,931

The financial statements were approved by the Board of Trustees and authorised for issue on 30 October 2025 and were signed on its behalf by:

R C Murray - Trustee

The notes form part of these financial statements

Page 6

VIGILANCE OF BRIXHAM CIO

CASH FLOW STATEMENT

for the Year Ended 30 April 2025

Notes Cash flows from operating activities Cash generated from operations 1 Net cash used in operating activities Cash flows from investing activities Interest received Net cash provided by investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period	2025 £ (76,413) (76,413) 1,017 1,017 (75,396) 90,332 14,936	2024
		£
		(19,015) (19,015) 1,466 1,466 (17,549) 107,881 90,332

The notes form part of these financial statements

Page 7

VIGILANCE OF BRIXHAM CIO

NOTES TO THE CASH FLOW STATEMENT for the Year Ended 30 April 2025

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

OPERATING ACTIVITIES
Net income/(expenditure) for the reporting period (as per the Statement of Financial Activities) Adjustments for: Interest received Increase in debtors (Decrease)/increase in creditors Net cash used in operations	2025 £ 7,311 (1,017) (28,333) (54,374) (76,413)	2024
		£ (63,804) (1,466) (9,278) 55,533 (19,015)

2. ANALYSIS OF CHANGES IN NET FUNDS

	At 1.5.24	Cash flow	At 30.4.25
	£	£	£
Net cash
Cash at bank and in hand	90,332	(75,396)	14,936
	90,332	(75,396)	14,936
Total	90,332	(75,396)	14,936

The notes form part of these financial statements

Page 8

VIGILANCE OF BRIXHAM CIO

NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 30 April 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. DONATIONS AND LEGACIES

Donations Gift aid Grants Other income Grants received, included in the above, are as follows: Other grants	2025 £ 42,609 10,128 630,469 2,463 685,669 2025 £ 630,469	2024
		£
		2,428 237 548,392 2,342 553,399

		2024
		£ 548,392

continued...

Page 9

VIGILANCE OF BRIXHAM CIO

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 April 2025

3. OTHER TRADING ACTIVITIES

3.	OTHER TRADING ACTIVITIES
		2025	2024
		£	£
	Fundraising events	787	2,773
	Sailing and merchandise income	438	770
		1,225	3,543
4.	INVESTMENT INCOME
		2025	2024
		£	£
	Deposit account interest	1,017	1,466

5.	CHARITABLE ACTIVITIES COSTS
			Direct
			Costs
			£
	Charitable activities		680,600

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 April 2025 nor for the year ended 30 April 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 April 2025 nor for the year ended 30 April 2024.

7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

	Unrestricted
	fund
	£
INCOME AND ENDOWMENTS FROM
Donations and legacies	553,399
Other trading activities	3,543
Investment income	1,466
Total	558,408
EXPENDITURE ON
Charitable activities
Charitable activities	622,212
NET INCOME/(EXPENDITURE)	(63,804)
RECONCILIATION OF FUNDS
Total funds brought forward	108,735
TOTAL FUNDS CARRIED FORWARD	44,931

continued...

Page 10

VIGILANCE OF BRIXHAM CIO

NOTES TO THE FINANCIAL STATEMENTS-continued for the Year Ended 30 April 2025 8. HERITAGE ASSETS MARKET VALUE At 1 May 2024 and 30 April 2025 NET BOOK VALUE At 30 April 2025 At 30 April 2024 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR VAT 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors 11. MOVEMENT IN FUNDS At 1.5.24 £ Unrestricted funds General fund 44,931 TOTAL FUNDS 44,931 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 687,911 TOTAL FUNDS 687,911	Total £ 1 1 1 2025 2024 £ £ 38,464 10,131 2025 2024 £ £ 1,159 55,533 Net movement At in funds 30.4.25 £ £ 7,311 52,242 7,311 52,242 Resources Movement expended in funds £ £ (680,600) 7,311 (680,600) 7,311		Total £ 1 1
			1

			2024 £
		10,131


			2024 £
		55,533

continued...

Page 11

VIGILANCE OF BRIXHAM CIO

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 April 2025

11. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.5.23 £ Unrestricted funds General fund 108,735 TOTAL FUNDS 108,735 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 558,408 TOTAL FUNDS 558,408	Net movement At in funds 30.4.24 £ £ (63,804) 44,931 (63,804) 44,931 Resources Movement expended in funds £ £ (622,212) (63,804) (622,212) (63,804)

12. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 April 2025.

Page 12

VIGILANCE OF BRIXHAM CIO

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 30 April 2025

INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Grants Other income Other trading activities Fundraising events Sailing and merchandise income Investment income Deposit account interest Total incoming resources EXPENDITURE Charitable activities Fundraising events Merchandise Marketing and media Rent and mooring fees Running costs Major repair project Equipment purchase and rental Insurance Travel and subsistence Printing, postage and stationery Internet and website Telephone Consultancy and professional fees Bank charges Subscriptions Total resources expended Net income/(expenditure)	2025 £ 42,609 10,128 630,469 2,463 685,669 787 438 1,225 1,017 687,911 69 17 605 1,363 988 664,766 210 7,017 420 195 2,125 138 1,511 (38) 1,214 680,600 680,600 7,311	2024 £ 2,428 237 548,392 2,342 553,399 2,773 770 3,543 1,466 558,408 302 3 337 2,394 1,565 603,074 291 6,791 103 460 2,344 138 2,929 42 1,439 622,212 622,212 (63,804)

This page does not form part of the statutory financial statements

Page 13

REGISTERED CHARITY NUMBER: 1168570

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025

FOR

VIGILANCE OF BRIXHAM CIO

Barretts Chartered Accountants & Chartered Tax Advisers

22 Union Street Newton Abbot Devon TQ12 2JS

VIGILANCE OF BRIXHAM CIO

CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 30 April 2025

		Page
Report of the Trustees	1	to	3
Independent Examiner's Report		4
Statement of Financial Activities		5
Balance Sheet		6
Cash Flow Statement		7
Notes to the Cash Flow Statement		8
Notes to the Financial Statements	9	to	12
Detailed Statement of Financial Activities		13

VIGILANCE OF BRIXHAM CIO

for the Year Ended 30 April 2025

REPORT OF THE TRUSTEES

OBJECTIVES AND ACTIVITIES

Objectives and aims

To advance the preservation and conservation of the Brixham based heritage sailing trawler "Vigilance BM76" for the public benefit and,

To advance education for the public benefit in the subject of Vigilance BM76, sail trawlers and the social, industrial, and sailing heritage and history associated with this.

Significant activities

Public benefit

All Trustees have had regard and have also received the guidance notes issued by the Charity Commission on public benefit.

Grantmaking

All decisions on possible grants/donations have been taken at a full meeting of the Trustees.

Volunteers

It is also commendable that the contributions of volunteers continued to be significant during the period when Vigilance was away from Brixham for works to be undertaken.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

Fundraising activities

In this period of the CIO sources of income have continued to originate from fund raising activities in the local community, open to all members and the general public.

Also specific pledges have been received resulting from successful funding applications, including the large NHMF and NLHF grants.

Income related to Torbay Lottery and use of Buy me a Coffee & Just Giving in conjunction with events was also received.

Trading income will start to be the main source of funds from May 2026.

Page 1

VIGILANCE OF BRIXHAM CIO

REPORT OF THE TRUSTEES

for the Year Ended 30 April 2025

ACHIEVEMENTS AND PERFORMANCE

Investment performance

Internal and external factors

The charity's main commercial asset will not be fully operational without further major sponsors to support the balance of Phase 1 & Phase 2 repair work, during 2023/24/25.

FINANCIAL REVIEW

Financial position

Principal funding sources

In this period of the CIO sources of income have continued to originate from fund raising activities in the local community, open to all members and the general public.

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 extension of the NHMF award.

Reserves policy

The Trustees have agreed that a prudent reserve to cover any unforeseen contingencies of at least £10,000 should be maintained in the Bank Accounts of the CIO.

Going concern

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Charity Commission Model Constitution for an Association CIO, dated 30th March 2016 as amended on 30th July 2020 and 20th February 2025.

Recruitment and appointment of new trustees

Induction and training of new trustees

All new Trustees have been provided with a copy of the Constitution, the Institute of Fundraising Handbook, the Essential Trustee guide and policy documents where appropriate.

Risk management

Page 2

VIGILANCE OF BRIXHAM CIO

REPORT OF THE TRUSTEES

for the Year Ended 30 April 2025

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1168570

Principal address

Friends of Vigilance CIO C/o Nigel Gooding 13 Deep Dene Close Brixham Devon TQ5 0DZ

Trustees

P Milligan Secretary and acting chair to July 2024 Ms H Keeling Ms C Brown Rev C D North R C Murray Chair (appointed 18.8.24)

Independent Examiner

Ian Barrett FCA FCIE Barretts Chartered Accountants & Chartered Tax Advisers 22 Union Street Newton Abbot Devon TQ12 2JS

Approved by order of the board of trustees on 30 October 2025 and signed on its behalf by:

R C Murray - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF VIGILANCE OF BRIXHAM CIO

Independent examiner's report to the trustees of Vigilance of Brixham CIO

I report to the charity trustees on my examination of the accounts of Vigilance of Brixham CIO (the Trust) for the year ended 30 April 2025.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

Independent examiner's statement

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

accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

Ian Barrett FCA FCIE

Barretts Chartered Accountants & Chartered Tax Advisers 22 Union Street Newton Abbot Devon TQ12 2JS

31 October 2025

Page 4

VIGILANCE OF BRIXHAM CIO

STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 30 April 2025

2025 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 685,669 Other trading activities 3 1,225 Investment income 4 1,017 Total 687,911 EXPENDITURE ON Charitable activities 5 Charitable activities 680,600 NET INCOME/(EXPENDITURE) 7,311 RECONCILIATION OF FUNDS Total funds brought forward 44,931 TOTAL FUNDS CARRIED FORWARD 52,242	2024 Total funds £ 553,399
	3,543
	1,466
	558,408

	622,212
	(63,804)
	108,735

	44,931

The notes form part of these financial statements

Page 5

VIGILANCE OF BRIXHAM CIO

BALANCE SHEET

30 April 2025

2025 Unrestricted fund Notes £ FIXED ASSETS Heritage assets 8 1 CURRENT ASSETS Debtors 9 38,464 Cash at bank and in hand 14,936 53,400 CREDITORS Amounts falling due within one year 10 (1,159) NET CURRENT ASSETS 52,241 TOTAL ASSETS LESS CURRENT LIABILITIES 52,242 NET ASSETS 52,242 FUNDS 11 Unrestricted funds 52,242 TOTAL FUNDS 52,242	2024 Total funds £ 1 10,131 90,332
	100,463
	(55,533) 44,930 44,931
	44,931
	44,931 44,931

The financial statements were approved by the Board of Trustees and authorised for issue on 30 October 2025 and were signed on its behalf by:

R C Murray - Trustee

The notes form part of these financial statements

Page 6

VIGILANCE OF BRIXHAM CIO

CASH FLOW STATEMENT

for the Year Ended 30 April 2025

Notes Cash flows from operating activities Cash generated from operations 1 Net cash used in operating activities Cash flows from investing activities Interest received Net cash provided by investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period	2025 £ (76,413) (76,413) 1,017 1,017 (75,396) 90,332 14,936	2024
		£
		(19,015) (19,015) 1,466 1,466 (17,549) 107,881 90,332

The notes form part of these financial statements

Page 7

VIGILANCE OF BRIXHAM CIO

NOTES TO THE CASH FLOW STATEMENT for the Year Ended 30 April 2025

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

OPERATING ACTIVITIES
Net income/(expenditure) for the reporting period (as per the Statement of Financial Activities) Adjustments for: Interest received Increase in debtors (Decrease)/increase in creditors Net cash used in operations	2025 £ 7,311 (1,017) (28,333) (54,374) (76,413)	2024
		£ (63,804) (1,466) (9,278) 55,533 (19,015)

2. ANALYSIS OF CHANGES IN NET FUNDS

	At 1.5.24	Cash flow	At 30.4.25
	£	£	£
Net cash
Cash at bank and in hand	90,332	(75,396)	14,936
	90,332	(75,396)	14,936
Total	90,332	(75,396)	14,936

The notes form part of these financial statements

Page 8

VIGILANCE OF BRIXHAM CIO

NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 30 April 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

Income

Expenditure

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. DONATIONS AND LEGACIES

Donations Gift aid Grants Other income Grants received, included in the above, are as follows: Other grants	2025 £ 42,609 10,128 630,469 2,463 685,669 2025 £ 630,469	2024
		£
		2,428 237 548,392 2,342 553,399

		2024
		£ 548,392

continued...

Page 9

VIGILANCE OF BRIXHAM CIO

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 April 2025

3. OTHER TRADING ACTIVITIES

3.	OTHER TRADING ACTIVITIES
		2025	2024
		£	£
	Fundraising events	787	2,773
	Sailing and merchandise income	438	770
		1,225	3,543
4.	INVESTMENT INCOME
		2025	2024
		£	£
	Deposit account interest	1,017	1,466

5.	CHARITABLE ACTIVITIES COSTS
			Direct
			Costs
			£
	Charitable activities		680,600

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 April 2025 nor for the year ended 30 April 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 April 2025 nor for the year ended 30 April 2024.

7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

	Unrestricted
	fund
	£
INCOME AND ENDOWMENTS FROM
Donations and legacies	553,399
Other trading activities	3,543
Investment income	1,466
Total	558,408
EXPENDITURE ON
Charitable activities
Charitable activities	622,212
NET INCOME/(EXPENDITURE)	(63,804)
RECONCILIATION OF FUNDS
Total funds brought forward	108,735
TOTAL FUNDS CARRIED FORWARD	44,931

continued...

Page 10

VIGILANCE OF BRIXHAM CIO

NOTES TO THE FINANCIAL STATEMENTS-continued for the Year Ended 30 April 2025 8. HERITAGE ASSETS MARKET VALUE At 1 May 2024 and 30 April 2025 NET BOOK VALUE At 30 April 2025 At 30 April 2024 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR VAT 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors 11. MOVEMENT IN FUNDS At 1.5.24 £ Unrestricted funds General fund 44,931 TOTAL FUNDS 44,931 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 687,911 TOTAL FUNDS 687,911	Total £ 1 1 1 2025 2024 £ £ 38,464 10,131 2025 2024 £ £ 1,159 55,533 Net movement At in funds 30.4.25 £ £ 7,311 52,242 7,311 52,242 Resources Movement expended in funds £ £ (680,600) 7,311 (680,600) 7,311		Total £ 1 1
			1

			2024 £
		10,131


			2024 £
		55,533

continued...

Page 11

VIGILANCE OF BRIXHAM CIO

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 April 2025

11. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.5.23 £ Unrestricted funds General fund 108,735 TOTAL FUNDS 108,735 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 558,408 TOTAL FUNDS 558,408	Net movement At in funds 30.4.24 £ £ (63,804) 44,931 (63,804) 44,931 Resources Movement expended in funds £ £ (622,212) (63,804) (622,212) (63,804)

12. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 April 2025.

Page 12

VIGILANCE OF BRIXHAM CIO

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 30 April 2025

INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Grants Other income Other trading activities Fundraising events Sailing and merchandise income Investment income Deposit account interest Total incoming resources EXPENDITURE Charitable activities Fundraising events Merchandise Marketing and media Rent and mooring fees Running costs Major repair project Equipment purchase and rental Insurance Travel and subsistence Printing, postage and stationery Internet and website Telephone Consultancy and professional fees Bank charges Subscriptions Total resources expended Net income/(expenditure)	2025 £ 42,609 10,128 630,469 2,463 685,669 787 438 1,225 1,017 687,911 69 17 605 1,363 988 664,766 210 7,017 420 195 2,125 138 1,511 (38) 1,214 680,600 680,600 7,311	2024 £ 2,428 237 548,392 2,342 553,399 2,773 770 3,543 1,466 558,408 302 3 337 2,394 1,565 603,074 291 6,791 103 460 2,344 138 2,929 42 1,439 622,212 622,212 (63,804)

This page does not form part of the statutory financial statements

Page 13