**REGISTERED CHARITY NUMBER: 1170017**
## **Report of the Trustees and**
**Financial Statements for the Year Ended 30 September 2023**
**for**
## **Weston Sailing Club**
CBM Accountants Limited 130 Bournemouth Road Chandler's Ford Eastleigh Hampshire SO53 3AL
**Weston Sailing Club**
## **Contents of the Financial Statements for the Year Ended 30 September 2023**
|||**Page**||
|---|---|---|---|
|**Reference and Administrative Details**||1||
|**Report of the Trustees**|2|to|7|
|**Independent Examiner's Report**||8||
|**Statement of Financial Activities**||9||
|**Balance Sheet**||10||
|**Notes to the Financial Statements**|11|to|16|
|**Detailed Statement of Financial Activities**|17|to|18|
**Weston Sailing Club**
**Reference and Administrative Details for the Year Ended 30 September 2023**
**TRUSTEES** N Curry I Wilson J Pilcher P Goddard P Conduit A Kier (appointed 1/3/23) J Stark (appointed 1/3/23) (resigned 14/7/23) **PRINCIPAL ADDRESS** Weston Sailing Club Abbey Hill Netley Abbey SOUTHAMPTON Hampshire SO31 5FB
## **REGISTERED CHARITY NUMBER** 1170017
**INDEPENDENT EXAMINER** CBM Accountants Limited 130 Bournemouth Road Chandler's Ford Eastleigh Hampshire SO53 3AL
Page 1
**Weston Sailing Club**
## **Report of the Trustees for the Year Ended 30 September 2023**
The Trustees of Weston Sailing Club ("the Charity") present their annual report for the period ended 30 September 2023 under the Charities Act 2011, together with the Independently Examined financial statements for that period. The accounts comply with the requirements the Charities Act 2011, the Charity's constitution and the relevant Statements of Recommended Practice (the Charities SORP 2005).
## **STATUS AND ADMINISTRATION**
The Charity is a Charity Incorporated Organisation (CIO), registered charity (No.1170017) that was incorporated on 4 November 2016. Its registered office is shown on page 1 of this report. On 1st January 2017 all the assets and liabilities of the unincorporated organisation now known as WSC 1952, were transferred to the Charity and all members renewed with the Charity. WSC 1952 now ceases to exist.
The present Trustees and any past Trustees who served during the period are shown on page 1, together with the names of the principal external advisers as at the date of the signing of this report.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives**
The Charity's objectives, as set out in its constitution, are:
To promote and facilitate community participation in healthy recreation by providing facilities for sailing, and in particular dinghy sailing, primarily (though not exclusively), to those resident in the local and greater Southampton area.
Purpose, aims and activities
The Trustees review the purpose, aims and activities of the Charity each year. This review looks at the achievements during the previous year, beyond the mere finances, and ensures that the Charity's purpose is being met. When carrying out the review and planning future activities, the Trustees refer to the guidance contained in the Charity Commission's general guidance on public benefit. In particular, the Trustees consider how planned activities will contribute to the aims and objectives, they have set.
The Charity may delegate the task of organising the sailing activities of the Charity to a Sailing Committee. The Constitution also allows for the operation of a Social Committee. The Chairman of each of these committees is a member of the General Purposes Committee.
Page 2
**Weston Sailing Club**
## **Report of the Trustees for the Year Ended 30 September 2023**
## **ACHIEVEMENT AND PERFORMANCE Trustees and Sub-Committee members**
The members of the General Purpose Committee (GPC) are the de facto Trustees of the Charity.
The Charity is grateful to everyone who voluntarily give their valuable time, not only to serve on the various committees that are necessary to ensure the Charities activities are carried out in a safe and enjoyable environment, but also wider support that allows it to fulfil its charitable objectives.
Without such assistance, the charity would be unable to operate and our thanks go to Phil Goddard who will be retiring at this AGM from the role of Treasurer. It is noted that at the time of writing this report no members have volunteered to take on this role, or that of Commodore for 2024 and this issue will be discussed during the formal AGM.
## **Achievement and Performance**
The Trustees are able to report another year of stability and normal operations in 2023 after the post Covid-19 recovery period in 2022.
In October 2022 we completed our first full cycle of club newsletter reminders on Fire Safety with an article on electrical fires. This communication cycle re-started in mid-2023 and these are important ongoing communications to keep members, and the club itself, safe following the significant investment in a new fire alarm in mid-2022.
In February 2023 we confirmed the new 'Fire Evacuation Assembly points' and installed signage on the lower compound fencing furthest from the clubhouse. Unfortunately, we saw 3 (false) alarm activations over the Spring/Summer so additional guidance and an 'aide memoire' have been issued to key holders to try to mitigate these.
In late 2022 we were plagued with a number of fly-tipping incidents outside the main gates. All of these were cleared quickly by Eastleigh Borough Council, usually prompted by a call from the Administrator! We were also grateful to Southampton City Council that they then placed several signs and a 'spy-cam' in the trees overlooking our entrance, and since then we have had no further incidents.
As we prepared for the 2022 AGM in November we had a number of GPC positions vacant, in particular the Membership and Club Secretaries. Neither of these was resolved at the AGM, but shortly after that a volunteer came forward for the Club Secretary role. As e relatively new member, he then went through a 'familiarisation' period through early 2023. Unfortunately, this did not work out for him and since mid-2023 we have operated without a Club Secretary. Those responsibilities have been picked up between the Commodore and the Club Administrator
.
We were more successful recruiting the Membership Secretary and welcomed Anna Keir to the role in March. The announcement of this appeared in the April newsletter alongside these comments from the Commodore, who had been covering this Secretary role during the 2023 renewal period:
Weston seems to have always had a high turnover of members, higher than RYA regional average, and this year has been no different. At the end of March our Member numbers are lower than March 2022 and when we ended 2022. I have spoken to, or exchanged emails with, most leavers and the feedback is overwhelmingly positive about their time with Weston. Usually they are physically moving away or just have other/new priorities. Only a very few have cited financial reasons and, where they did, it was just that they were not getting enough use of their boat/the club. Most have said that if they get back into Dinghy Sailing they will want to re-join Weston.
During 2023 we carried out a number of infrastructure projects to improve the club and hopefully attract new members:
Page 3
**Weston Sailing Club**
## **Report of the Trustees for the Year Ended 30 September 2023**
- Over the winter of 22/23 our new Pound Manager, Gerry Sewell, cleared the WSC container and fitted Kayak/SUP/Windsurfing racking along one side. This enabled us to move the club SUPs to storage that is accessible without opening the training shed. We have also received a few enquiries from Kayak owners and have joined some SUP Facebook groups, where hope to get more traction in this area.
- In early 2023 Gerry also oversaw the removal of the large stump left by the 350 year old Oak felled by Storm Eunice the previous year. Even with the stump finally removed, it is taking some time for the ground to 'firm up', but in time this should allow us to fully utilise Row J. As WSC is within the 'Netley Preservation area', we were required to replace the old oak with a suitably mature replacement. The outgoing Commodore has gifted a new sapling and covered the cost of preparation/planting to the club, within 'Commodores Lawn' area.
- Later in the summer we arranged commercial contractors to replace the rotting facia and weather-worn felt roof on the Race Box. We were pleased to note they found no rot in the roof itself, although they did report that when it was done last time, no insulation had been laid between the felt and wood, so this has now been resolved. A tough job in the heat of June and they've done a great, tidy job.
- To help with the landscape management of the dinghy pound the GPC agreed to the club investing in a tractor mower which will save time and also expenditure in the longer term on contractors. It is mainly being used for the compound access rows and commodores lawn and allowed us to cut the grass more often during the peak 'grass growing period'. It was especially useful prior to Open events when camping was available and which we have been charging visitors a nominal camping fee.
To try and address the reduced membership numbers we ran a 'Discover Sailing' in June but with only 5 volunteers we had to scale back our advertising and plans for the day. As the date also coincided with a Nacra 15 (Youth) Training event, our BBQ food in the afternoon did not go to waste! With great weather the event felt well attended even if we had very few 'Discover-ees' attending and we only signed up 1 new family member.
Also in June we announced details of our new WSC Merchandise ('merch') collection and members subscribed to a first bulk order (c. £500). Examples of the WSC collection will be available at the AGM and some of our initial stock will be distributed as prizes in the '2023 Prize Giving'. We are looking at options of either repeating the bulk order or (preferably) a self-select online option, but will need a volunteer to help the new GPC with finalising that and its operation.
In August our long-term club cleaner Carol, retired and we were fortunate to very quickly secure a quick replacement, Katie Taylor, who started late-September.
During mid-August and early September we welcomed the BBC to Weston to film some scenes for a BBC drama. As this was during the working week it did not interfere with any sailing events and the BBC location services ensured that everything was moved and then replaced with minimal effort from WSC representatives. We hope to soon be able to let members know when the dramas series will make it to your screens. We have reinvested some of the fees received from the BBC into a Byte C1 for our youth and lady sailors to participate in racing/race training. Our current club fleet has been lacking in this important segment.
Weston's reputation for successful racers was further enhanced with news that member Mark Watts and his crew Matt Johnson had secured the B14 Class World Championship in Lake Garda. Also in the news was Grant and Ella-May Piggott becoming Dart 18 UK National Champions in Bridlington. They only narrowly missed out on being World Champions, coming in 2nd. Well done to these and all our members competing away from the club in 2023. Club racing and our Cruising activities will be covered in the Sailing Secretaries report as usual.
Page 4
**Weston Sailing Club**
## **Report of the Trustees for the Year Ended 30 September 2023**
## **FINANCIAL REVIEW Financial position Financial activities and results**
The main sources of income of the Charity are membership subscriptions and pound fees for storing dinghies. Both these amounts are annual amounts payable on 1st January. The Charity takes account of membership and pound fees when they are paid and does not carry forward any funds for the last 3 months of the calendar year. Open meeting income has been impacted by lower than expected competitor numbers.
Overall, the income for the period was £63,555 [2022: £104,730]. Last years income was largely bolstered by a large donation. This year, the club benefited from payments by the BBC for use of club facilities for filming scenes for a television drama.
The main costs are the rent, the utilities, the upkeep and running of the safety boats and the maintenance of the clubhouse, race box and pound, all of which are vital to allow safe sailing and racing to take place. Overall, the expenditure was £66,054 [2022: £55,772].
The net effect was to show a deficit on unrestricted funds of £2,499 [2022: Surplus £48,958] before unrealised losses on investments of £Nil [2022: loss of £3,140]. Restricted funds were £Nil [2022 £Nil].
## **Investment policy and objectives**
The Constitution of the Charity states that it has the power "to deposit or invest funds in any manner as the Trustees shall in their absolute discretion think fit to the extent that the Trustees shall have the same full and unrestricted powers investing and transposing investments in all respects as if they were beneficially absolute owners...".
In 2018, the Trustees exercised this power by investing some money surplus to immediate requirements with CCLA. [CCLA is one of the UK's largest charity fund managers according to the latest Charity Finance Survey. CCLA manage investments for charities, religious organisations and the public sector and based in the City of London, with an office in Edinburgh. CCLA are largely owned by their clients' funds.] The 2 funds chosen are:
- COIF Charities Deposit Fund
- COIF Charities Fixed Interest Fund
## **Reserves policy**
The Trustees reserves policy is to ensure that sufficient free reserves are maintained such that the overhead cost of running and maintaining the Club and Pound including rates, insurance, depreciation are covered for at least a year.
The Charity has total funds of £253,324 [2022: £255,823] of which restricted funds account for £Nil [2022: £Nil]. The Charity has a functional fixed asset reserve of £116,179 [2022: £117,147].
This leaves free reserves of £137,145 [2022: £138,676] representing over 24 [2022: 29] months of normal operating expenditure. The Trustees remain concerned about the position, but feel that with new initiatives they will be able to maintain the General Reserve to a year's operating expenditure whilst ensuring that WSC has sufficient reserves to replace its safety boats and engines when necessary.
Page 5
**Weston Sailing Club**
## **Report of the Trustees for the Year Ended 30 September 2023**
## **FUTURE PLANS**
**Governance** - The trustees remain concerned at the shrinking group of members willing to take on governance roles (GPC and Social). It is noted that the Constitution has no minimum number of Trustees, but will become ineffective at some point. It is possible the Charity Commissioners may have a view on this and their guidance will need to be sought by the new GPC.
**Training** - We intend to offer Patrol Boat, Race Officer, and Assistant Race Officer training again in 2024. We will continue to align these 'Patrol Boat Pathway' and 'Sailing Pathway' activities to the popular Social Sailing on Saturday' (SSOS) dates, subject to sufficient volunteers to run these.
Facilities and Equipment - We will continue to waive 'club spec dinghy' hire fees in 2024 and the 'Premium' spec dinghy/paddleboard fees will remain at 2022 levels. These remain very attractive 'offers' to students and those new to sailing, who may not have access to their own dinghy.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The Charity is governed by its Constitution which was adopted on 4 November 2016 and amended on 3rd April 2020 and 13th January 2021. The General Purposes Committee (who are the Trustees of the Charity) is responsible for the overall governance the Charity and meets at least six times a year.
## **Recruitment and appointment of new trustees**
The Charity looks to its members to volunteer for the various roles needed to ensure a stable and safe venue for sailing. Where more members volunteer than there are roles then an election will take place. Where a vacancy arises a member who volunteers may be co-opted pending an election at the next AGM. Trustees are offered training in their role where required.
## **Decision making**
The following matters are specifically reserved for approval by the Trustees:
- Any proposal to amend the Memorandum and Articles Association; Instruments and Rules Government;
- Accounting Reference Date or material accounting policies;
- Planning Applications reflecting a significant change of use and capital projects;
- Sales or purchases of the Charity's property assets;
- Any decision to bring or defend legal action in a civil case;
- Response to criminal charges/allegations of criminal activity which have connection with the Charity;
- Appointment, variation of terms or removal of any Charity post;
- Expansion of activities beyond core business;
- Formation of a subsidiary;
- Amendment to pension schemes;
- Material change to general terms of employment, staff benefits or HR policy;
- Approval of annual budgets;
- Approval of Annual Report & Accounts including setting of reserve allocations;
- Review & approval of delegated authorities and authorisation limits;
- Variations in authorisation levels for purchases/leasing/hiring contracts (limits to be placed on total value of
- contract and on contract length);
- Any borrowing by the Charity;
- Any grant of guarantee or indemnity in respect of a third party's obligations (including obligations of staff);
- Investment management policies;
- Cash management policies (including approved list of counter-parties);
- Any contract with any Trustee or member of staff or with any person or entity connected with any of them;
- Opening of new banking relationship;
- Receipt of gifts from a potentially undesirable donor; and
- Receipt of payments in exchange for sponsorship/naming rights.
Page 6
**Weston Sailing Club**
**Report of the Trustees for the Year Ended 30 September 2023**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Risk management**
The Charity's approach to risk management is designed to ensure that it remains alert to those external and internal factors that could affect its ability to operate effectively, or even at all. The work establishing the risks facing the Charity and ensuring suitable mitigating action is being taken is challenging. Nevertheless the Trustees feel their risk Management schedule is as complete as possible whilst being aware that vigilance is always needed.
## **AND FINALLY ......**
The Charity is a member organisation that is run by its members for its members. The running of any of its activities relies on the participation and commitment of all those who serve as Trustees and/or on the sub-committees or who join working parties.
A warm and friendly welcome awaits any member who would like to come assist with the smooth operation of the Club
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
....................................................................
J Pilcher - Trustee
Page 7
**Independent Examiner's Report to the Trustees of Weston Sailing Club**
## **Independent examiner's report to the trustees of Weston Sailing Club**
I report to the charity trustees on my examination of the accounts of Weston Sailing Club (the Trust) for the year ended 30 September 2023.
## **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**
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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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.
Graham Bennett
CBM Accountants Limited 130 Bournemouth Road Chandler's Ford Eastleigh Hampshire SO53 3AL
Date: .............................................
Page 8
**Weston Sailing Club**
## **Statement of Financial Activities for the Year Ended 30 September 2023**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
425
**Charitable activities**
Sailing activities
29,278
Generating activities
23,866
Other income
8,879
Investment income
2
1,107
**Total**
63,555
**EXPENDITURE ON**
**Charitable activities**
Sailing activities
43,853
Generating activities
3,323
Other income
18,878
**Total**
66,054
Net gains/(losses) on investments
-
**NET INCOME/(EXPENDITURE)**
(2,499)
**RECONCILIATION OF FUNDS**
Total funds brought forward
255,823
**TOTAL FUNDS CARRIED FORWARD**
253,324|Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-|2023
Total
funds
£
425
29,278
23,866
8,879
1,107
63,555
43,853
3,323
18,878
66,054
-
(2,499)
255,823
253,324|2022
Total
funds
£
50,147
26,822
26,466
580
715
104,730
37,250
3,449
15,073
55,772
(3,140)
45,818
210,005
255,823|
|---|---|---|---|
The notes form part of these financial statements
Page 9
**Weston Sailing Club**
## **Balance Sheet 30 September 2023**
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
5
116,179
Investments
6
30,923
147,102
**CURRENT ASSETS**
Stocks
7
20
Cash at bank and in hand
108,186
108,206
**CREDITORS**
Amounts falling due within one year
8
(1,984)
**NET CURRENT ASSETS**
106,222
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
253,324
**NET ASSETS**
253,324
**FUNDS**
9
Unrestricted funds:
General fund
Functional fixed asset reserve
**TOTAL FUNDS**|Restricted
fund
£
-
-
-
-
-
-
-
-
-
-|2023
Total
funds
£
116,179
30,923
147,102
20
108,186
108,206
(1,984)
106,222
253,324
253,324
137,145
116,179
253,324
253,324|2022
Total
funds
£
117,147
30,043
147,190
20
110,524
110,544
(1,911)
108,633
255,823
255,823
138,676
117,147
255,823
255,823|
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. J Pilcher - Trustee
The notes form part of these financial statements
Page 10
**Weston Sailing Club**
**Notes to the Financial Statements for the Year Ended 30 September 2023**
## **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, with the exception of investments which are included at market value.
## **Income**
All incoming resources are included in the Statement of Financial Activities when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Membership fees, donations, gifts and legacies are included in full in the accounts when receivable. The membership year runs from January to December. Income for events after the balance sheet date is included in deferred income. The Charity is not registered for VAT and all income is stated at amounts receivable.
## **Expenditure**
All expenditure is accounted for on an accruals basis, when a liability is incurred, and includes VAT where applicable. Expenditure is allocated to the following cost categories:
. Costs of generating funds are those costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
. Sailing activities include expenditure associated with the provision of events and services to the members, and include both the direct costs and support costs relating to these activities.
## **Allocation and apportionment of costs**
Office costs cannot be directly attributed to these particular headings so are allocated on an estimated basis, based on staff time, as follows:
Costs of generating funds 47% Charitable activities 52% Other income 1% 100%
## **Tangible fixed assets**
Tangible fixed assets are stated at cost less depreciation. Assets which cost less than £500 are not capitalised.
Depreciation has been computed to write off the cost of tangible fixed assets equally over their expected useful lives using the following rates:
Land 0% Clubhouse Building 5% Equipment & club boats 20% Safety boat hulls 10% Safety Boat engines 25%
Depreciation on computer equipment and other office equipment was previously charged on a reducing balance basis using the above rates. The above policy is considered to be more realistic and the effect on the financial statements is immaterial.
Page 11
continued...
**Weston Sailing Club**
**Notes to the Financial Statements - continued for the Year Ended 30 September 2023**
## **1. ACCOUNTING POLICIES - continued**
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
## Restricted funds
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The cost of raising and administering such funds is charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
## Designated funds
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in note 9.
## General funds
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objects of the Charity.
## **2. INVESTMENT INCOME**
|**INVESTMENT INCOME**|||
|---|---|---|
||2023|2022|
||£|£|
|Interest receivable - trading|1,107|715|
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30 September 2023 nor for the year ended 30 September 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 30 September 2023 nor for the year ended 30 September 2022.
## **4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
50,147
**Charitable activities**
Sailing activities
26,822
Generating activities
26,466
Other income
580
Investment income
715
**Total**
104,730|Restricted
fund
£
-
-
-
-
-
-|Total
funds
£
50,147
26,822
26,466
580
715|
|---|---|---|
|||104,730|
Page 12
continued...
**Weston Sailing Club**
## **Notes to the Financial Statements - continued for the Year Ended 30 September 2023**
|**4.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
funds
fund
£
£
**EXPENDITURE ON**
**Charitable activities**
Sailing activities
37,250
-
Generating activities
3,449
-
Other income
15,073
-
**Total**
55,772
-
Net gains/(losses) on investments
(3,140)
-
**NET INCOME**
45,818
-
**RECONCILIATION OF FUNDS**
Total funds brought forward
210,005
-
**TOTAL FUNDS CARRIED FORWARD**
255,823
-
**5.**
**TANGIBLE FIXED ASSETS**
Leasehold
Plant and
property
machinery
£
£
**COST**
At 1 October 2022
176,779
29,626
Additions
1,040
8,630
At 30 September 2023
177,819
38,256
**DEPRECIATION**
At 1 October 2022
61,669
27,589
Charge for year
8,801
1,837
At 30 September 2023
70,470
29,426
**NET BOOK VALUE**
At 30 September 2023
107,349
8,830
At 30 September 2022
115,110
2,037|Total
funds
£
37,250
3,449
15,073
55,772
(3,140)
45,818
210,005
255,823
Totals
£
206,405
9,670
216,075
89,258
10,638
99,896
116,179
117,147|
|---|---|
Page 13
continued...
**Weston Sailing Club**
## **Notes to the Financial Statements - continued for the Year Ended 30 September 2023**
|**6.**
**FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 1 October 2022
Additions
At 30 September 2023
**PROVISIONS**
At 1 October 2022 and
30 September 2023
**NET BOOK VALUE**
At 30 September 2023
At 30 September 2022
There were no investment assets outside the UK.
**7.**
**STOCKS**
Stocks
**8.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Other creditors
**9.**
**MOVEMENT IN FUNDS**
Net
At
movement
1/10/22
in funds
£
£
**Unrestricted funds**
General fund
129,006
(2,499)
Functional fixed asset reserve
126,817
-
255,823
(2,499)
**TOTAL FUNDS**
255,823
(2,499)|Unlisted
investments
£
34,246
880
35,126
4,203
30,923
30,043
2023
2022
£
£
20
20
2023
2022
£
£
1,060
987
924
924
1,984
1,911
Transfers
between
At
funds
30/9/23
£
£
10,638
137,145
(10,638)
116,179
-
253,324
-
253,324|
|---|---|
Page 14
continued...
**Weston Sailing Club**
## **Notes to the Financial Statements - continued for the Year Ended 30 September 2023**
## **9. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
At
1/10/21
£
**Unrestricted funds**
General fund
86,731
Functional fixed asset reserve
123,274
210,005
**TOTAL FUNDS**
210,005
Comparative net movement in funds, included in the above are
Incoming
resources
£
**Unrestricted funds**
General fund
104,730
**TOTAL FUNDS**
104,730|Incoming
resources
£
63,555
63,555
Net
movement
in funds
£
45,818
-
45,818
45,818
as follows:
Resources
expended
£
(55,772)
(55,772)|Resources
Movement
expended
in funds
£
£
(66,054)
(2,499)
(66,054)
(2,499)
Transfers
between
At
funds
30/9/22
£
£
6,127
138,676
(6,127)
117,147
-
255,823
-
255,823
Gains and
Movement
losses
in funds
£
£
(3,140)
45,818
(3,140)
45,818|
|---|---|---|
Page 15
continued...
**Weston Sailing Club**
## **Notes to the Financial Statements - continued for the Year Ended 30 September 2023**
## **9. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
Functional fixed asset reserve
**TOTAL FUNDS**|At
1/10/21
£
86,731
123,274
210,005
210,005|Net
movement
in funds
£
43,319
-
43,319
43,319|Transfers
between
funds
£
16,765
(16,765)
-
-|At
30/9/23
£
146,815
106,509|
|---|---|---|---|---|
|||||253,324|
|||||253,324|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|
||resources|expended|losses|in funds|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|168,285|(121,826)|(3,140)|43,319|
|**TOTAL FUNDS**|168,285|(121,826)|(3,140)|43,319|
Functional Fixed Assets is the net book value of the assets of the club which cannot be readily converted into cash.
## **10. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 30 September 2023.
Page 16
**Weston Sailing Club**
## **Detailed Statement of Financial Activities for the Year Ended 30 September 2023**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Subscriptions
**Investment income**
Interest receivable - trading
**Charitable activities**
Membership fees
Pound fees
Key deposits
Open meeting income
Day sail
Training income
Bar takings
Club Craft hire fees
Other income - item sales
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Clubhouse costs
Rates and water
Light and heat
Sundries
Depreciation of tangible fixed assets
**Support costs**
**Management**
Sub-contractors
Rent
Insurance
Telephone
Postage and stationery
Sundries
Licences and subscriptions
Professional fees|2023
£
425
1,107
28,084
19,007
120
3,904
309
300
955
30
9,314
62,023
63,555
6,970
1,575
2,476
13,277
10,638
34,936
4,819
12,360
4,890
509
33
1,434
3,729
2,652
30,426|2022
£
50,147
715
26,700
18,993
180
5,951
38
(1)
1,522
85
400
53,868
104,730
1,322
1,255
3,943
11,124
10,693
28,337
4,218
12,362
4,902
501
64
208
3,532
984
26,771|
|---|---|---|
This page does not form part of the statutory financial statements
Page 17
**Weston Sailing Club**
## **Detailed Statement of Financial Activities for the Year Ended 30 September 2023**
|**Detailed Statement of Financial Activities**
**for the Year Ended 30 September 2023**|||
|---|---|---|
|**Management**
**Finance**
Bank charges
Total resources expended
**Net (expenditure)/income**|2023
£
692
66,054
(2,499)|2022
£
664|
|||55,772|
|||48,958|
This page does not form part of the statutory financial statements
Page 18