**REGISTERED CHARITY NUMBER: 1170017**
**Report of the Trustees and Financial Statements for the Year Ended 30 September 2024**
**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 2024**
||**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 2024**
**TRUSTEES** N Curry I Wilson P Conduit A Kier G Sewell (appointed 4 Dec 2023) J Goldsbrough (appointed 3 Dec 2023) **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 2024**
The Trustees of Weston Sailing Club ("the Charity") present their annual report for the period ended 30 September 2024 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.
## **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 Ian Wilson and Anna Kier who will be retiring at this AGM from the roles of Communications Manager and Membership Secretary. 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 2025 and this issue will be discussed during the formal AGM.
Page 2
**Weston Sailing Club**
## **Report of the Trustees for the Year Ended 30 September 2024**
## **ACHIEVEMENT AND PERFORMANCE**
## **Achievement and Performance**
The Trustees are able to report another year of stability and normal operations in 2023/24.
The start of the year 2024 saw the new GPC short handed again with the previous Commodore leaving his position, due to the maximum years served under the clubs constitution and no one from the membership stepping up into this role. There was also no Vice- Commodore in place to take up this position. However, the vacant Treasurer’s and Club Secretary’s positions had been filled, allowing the GPC to function through the year with a skeleton membership. Where positions and responsibilities weren’t formally covered by trustees in post, the existing GPC members endeavoured to fill the gaps.
Weston seems to have always had a high turnover of members, higher than RYA regional average, and this year has been no exception. At the end of October 2023 our Member numbers were 163. At the end of this reporting period the club’s membership stands at 137. A 16% reduction overall. I have spoken to some leavers and the feedback is overwhelmingly positive about their time with Weston. Usually they are physically moving away or just have other/new priorities. Others mentioned that due to dwindling fleet racing numbers, they are moving to where there is a strong match racing fleet for their particular boat or 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.
One of the highlights of this reporting period was to welcome Solent Uni Sailing Club as permanent residences at Weston. Very much a club within a club at present, both clubs hope that their new and existing sailors at the university will grasp the opportunity to join in with Weston’s future sailing programme, with benefit to both clubs. With the new university term started, university sailing is in full swing using their own fleet of Firefly dinghies, or the club’s Lasers, Picos, and Toppers. Thank you to John Goldsbrough for supporting this on behalf of the club.
Another highlight this year has seen increased Nacra youth membership at Weston, driven and supported by Chris King, Olly Harris and Grant Piggot. Well done for all your efforts in making Weston one of the go-to places for Cat training and racing and for the successful Cat open held this year.
One of the biggest financial commitments this reporting period was to purchase a club committee boat, as requested by the sailing committee. This was undertaken by John Goldsbrough, who located and purchased the vessel and with Charles Baudouin’s support, is preparing it ready for club racing next year. I encourage all race officers to take advantage of the committee boat, especially with an “off-shore” breeze.
The club’s main water feed to the club was found to be leaking, with an estimated cost of £1200 to the club per year if not rectified. The existing pipe had been difficult to locate, so it was agreed to install a new pipe through the club compound from the road to the club. This was completed in September 2024.
In tandem with the water leak, was a clear build up of water between the club building and the club’s container. This culminated in the flooding of the training shed. After some investigation work by Patrick Conduit and digging and rodding by other GPC members, this issue has now been resolved and will be monitored going forward. Other Purchases for the club include a new dishwasher for the galley and jetwash for use on the club slipways and around the club as required.
In May our cleaner Katie Taylor stepped down from her role and we were fortunate to very quickly secure a quick replacement, Lindsey Taylor (Katie’s mum) who took over from Katie.
Since mid-May the club has operated without a Galley, due to Christine Savage’s illness and then passing. External catering has been brought in when required, while the club looks for a replacement. If you know anyone who is interested to know more about this role, please come and speak to Gerry Sewell or Patrick Conduit. Other alternatives will be explored in the new year to give the club back a working galley of some sort.
Page 4
**Weston Sailing Club**
## **Report of the Trustees**
**for the Year Ended 30 September 2024**
## **ACHIEVEMENT AND PERFORMANCE**
## **Achievement and Performance**
Sadly, the club lost members over this reporting period.
As mentioned above, Christine Savage who passed away after a short illness on the 15[th] July 2024. Christine was a much loved wife of Steve, mother to Sarah and Becky and Grandmother to Christy. She was the face of the club, and the club will never be the same without her.
Mike Geernaert passed away on the 25[th] August 2024. A long standing member of the club using various boats, Mike was a much-loved husband of Georgiana and father to Elise and Fleur.
## **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.
Overall, the income for the period was £48,142 [2023: £63,555]. Last year's income was bolstered by payments by the BBC for use of club facilities for filming scenes for a television drama [£8,684].
The rest of the reduction in income this year was due to lower membership numbers and pound space numbers.
The main costs are the rent, the utilities, insurance, cleaning, administration, the upkeep and running of the safety boats, and the maintenance of the clubhouse, boat sheds, race box and boat pound.
The major infrastructure expenditure in the year was: Replacement of commercial dishwater [£3,825], a new mains water supply pipe to the clubhouse [£6,865], a second hand Committee Boat hull with trailer [£1,874] and a brand new 15hp fuel injected engine as its means of propulsion [£2,519]. Total [£15,083].
The day to day running costs were £55,106 [2023: £55,343]
Overall, the expenditure was £65,941 [2023: £66,054].
The net effect was to show a deficit on unrestricted funds of £17,799 [2023: Deficit £2,499] before unrealised losses on investments of £Nil [2023: £Nil]. Restricted funds were £Nil [2023 £Nil
Page 4
**Weston Sailing Club**
## **Report of the Trustees**
## **for the Year Ended 30 September 2024**
## **FINANCIAL REVIEW Financial position**
## **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
In 2024 theTrustees transferred £80,000 from the CAF current cash account that pays zero interest to an instant access CAF Gold Account that pays a small variable interest rate currently 2.52% AER.
## **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 £235,525 [2023: £253,324] of which restricted funds account for £Nil [2023: £Nil]. The Charity has a functional fixed asset reserve of £113,971 [2023: £116,179].
This leaves free reserves of £121,554 [2023: £137,145] representing over 24 [2023: 24] months of normal operating expenditure _,_ so there is no immediate financial stress.
However, with the current ageing members and falling membership numbers the charity is not in a long term sustainable financial situation.
## **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.
A re-write of the clubs constitution to separate trustee positions from management, to see if this relieves the burden of work can be investigated in the coming year.
The club in 2025 needs to focus on encouraging new members to sail and be active members of Weston. Without the current membership supporting the GPC and Sailing Committee in their functions, focus and drive to make the club a more appealing place to sail and socialise will always be limited. Financially we are on a good footing for now, however with a diminishing membership, the pool of people able to do rosters and fulfil club positions is ever decreasing. This WILL reflect in a reduced sailing calendar for 2025.
We must be clear that if the current membership trend continues and without a fully functioning GPC, the club will need to take steps to regain a stable platform, or in the worst case scenario, close. Merging with another local club, while the club has funds, and space is one possibility worth looking into
Page 4
**Weston Sailing Club**
## **Report of the Trustees**
## **for the Year Ended 30 September 2024**
## **FUTURE PLANS**
**Training** - We intend to offer Patrol Boat, Race Officer, and Assistant Race Officer training again in 2025. No pathway sailing is scheduled, however 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. (FEES NEED TO BE AGREED FOR 2025).
## **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 7
**Weston Sailing Club**
## **Report of the Trustees**
**for the Year Ended 30 September 2024**
## **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:
....................................................................
G Sewell - 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 2024.
## **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 2024**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
278
**Charitable activities**
Sailing activities
21,696
Generating activities
24,387
Other income
158
Investment income
2
1,623
**Total**
48,142
**EXPENDITURE ON**
**Charitable activities**
Sailing activities
38,793
Generating activities
10,310
Other income
16,838
**Total**
65,941
Net gains/(losses) on investments
-
**NET INCOME/(EXPENDITURE)**
(17,799)
**RECONCILIATION OF FUNDS**
Total funds brought forward
253,324
**TOTAL FUNDS CARRIED FORWARD**
235,525|Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-|2024
Total
funds
£
278
21,696
24,387
158
1,623
48,142
38,793
10,310
16,838
65,941
-
(17,799)
255,823
235,525|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|
|---|---|---|---|
The notes form part of these financial statements
Page 9
## **Weston Sailing Club**
## **Balance Sheet 30 September 2024**
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
5
113,971
Investments
6
31,726
145,697
**CURRENT ASSETS**
Stocks
7
20
Cash at bank and in hand
91,432
91,452
**CREDITORS**
Amounts falling due within one year
8
(1,624)
**NET CURRENT ASSETS**
89,828
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
235,525
**NET ASSETS**
235,525
**FUNDS**
9
Unrestricted funds:
General fund
Functional fixed asset reserve
**TOTAL FUNDS**|Restricted
fund
£
-
-
-
-
-
-
-
-
-
-|2024
Total
funds
£
113,971
31,726
145,697
20
91,432
91,452
(1,624)
89,828
235,525
235,525
121,554
113,971
235,525
235,525|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|
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. J Goldsbrough - 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 2024**
## **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%
## **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**|||
|---|---|---|
||2024|2023|
||£|£|
|Interest receivable - trading|1,623|1,107|
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 30 September 2024 nor for the year ended 30 September 2023.
## **4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
425
**Charitable activities**
Sailing activities
29,278
Generating activities
23,866
Other income
8,879
Investment income
1,107
**Total**
63,555|Restricted
fund
£
-
-
-
-
-
-|Total
funds
£
425
29,278
23,866
8,879
1,107
63,555|
|---|---|---|
Page 12
continued...
**Weston Sailing Club**
**Notes to the Financial Statements - continued for the Year Ended 30 September 2024**
## **4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
|**EXPENDITURE ON**
**Charitable activities**
Sailing activities
Generating activities
Other income
**Total**
Net gains/(losses) on investments
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**5.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 October 2023
Additions
At 30 September 2024
**DEPRECIATION**
At 1 October 2023
Charge for year
At 30 September 2024
**NET BOOK VALUE**
At 30 September 2024
At 30 September 2023|Unrestricted
funds
£
43,853
3,323
18,878
66,054
-
(2,499)
255,823
253,324
Leasehold
property
£
177,819
-
177,819
70,470
8,853
79,323
98,496
107,349|Restricted
fund
£
-
-
-
-
-
-
-
-
Plant and
machinery
£
38,256
8,569
46,825
29,426
1,924
31,350
15,475
8,830|Total
funds
£
43,853
3,323
18,878
66,054
-
(2,499)
255,823
253,324
Totals
£
216,075
8,569
224,644
99,896
10,777
110,673
113,971
116,179|
|---|---|---|---|
Page 13
continued...
**Weston Sailing Club**
|**Notes to the Financial Statements - continued**
**for the Year Ended 30 September 2024**
**6.**
**FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 1 October 2023
Additions
At 30 September 2024
**PROVISIONS**
At 1 October 2023 and
30 September 2024
**NET BOOK VALUE**
At 30 September 2024
At 30 September 2023
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
1/10/23
in funds
£
£
**Unrestricted funds**
General fund
137,145
(17,799)
Functional fixed asset reserve
116,179
-
253,324
(17,799)
**TOTAL FUNDS**
253,324
(17,799)|Unlisted
investments
£
35,126
803
35,929
4,203
31,726
30,923
2024
2023
£
£
20
20
2024
2023
£
£
700
1,060
924
924
1,624
1,984
Transfers
between
At
funds
30/9/24
£
£
2,208
121,554
(2,208)
113,971
-
235,525
-
235,525|
|---|---|
Page 14
continued...
**Weston Sailing Club**
## **Notes to the Financial Statements - continued for the Year Ended 30 September 2024**
## **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**
**Unrestricted funds**
General fund
Functional fixed asset reserve
**TOTAL FUNDS**|At
1/10/22
£
129,006
126,817
255,823
255,823|Incoming
resources
£
48,142
48,142
Net
movement
in funds
£
(2,499)
-
(2,499)
(2,499)|Resources
Movement
expended
in funds
£
£
(65,941)
(17,799)
(65,941)
(17,799)
Transfers
between
At
funds
30/9/23
£
£
10,638
137,145
(10,638)
116,179
-
253,324
-
253,324|
|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
63,555
63,555|Resources
expended
£
(66,054)
(66,054)|Gains and
Movement
losses
in funds
£
£
-
(2,499)
-
(2,,499)|
|---|---|---|---|
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
1/10/22
£
138,676
117,147
255,823
255,823|Net
movement
in funds
£
(20,298)
-
(20,298)
(20,298)|Transfers
between
funds
£
3,176
(3,176)
-
-|At
30/9/24
£
121,554
113,971
235,525
235,525|
|---|---|---|---|---|
Page 15
continued...
**Weston Sailing Club**
## **Notes to the Financial Statements - continued for the Year Ended 30 September 2024**
## **9. MOVEMENT IN FUNDS - continued**
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|111,697|(131,995)|-|(20,298)|
|**TOTAL FUNDS**|111,697|(131,995)|-|(20,298)|
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 2024.
Page 16
**Weston Sailing Club**
## **Detailed Statement of Financial Activities for the Year Ended 30 September 2024**
|**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
Rent – lease of land
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|2024
£
278
1,623
21,384
16,188
100
6,335
120
-
2,031
5
78
46,241
48,142
2,539
2,340
1,774
19,313
10,777
36,743
4,900
12,360
5,579
378
244
292
3,713
1,032
28,498|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|
|---|---|---|
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 2024**
**Management**
**Finance**
Bank charges
Total resources expended
**Net (expenditure)/income**|2024
£
700
65,941
(17,799)|2023
£
692
66,054
(2,499)|
|---|---|---|
This page does not form part of the statutory financial statements
Page 18