## **Trustees’ Annual Report for the period** **From 1st Jan 2023 To 31 Dec 2023** **Charity name: Classic Young Sailors Foundation** ## **Charity registration number: 1177006** ## **Objectives and Activities** ||SORP reference|| |---|---|---| |Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|**To provide sailing opportunities for**
**young people, particularly those who**
**would not normally get an opportunity to**
**sail**| |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|**In 2023 there was no Classic Channel**
**Regatta and so it was decided not to**
**make any grants in support of the**
**Charity’s aims.**| |Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|**The Trustees have had regards to the**
**guidance of the CC.**| ## **Additional information (optional)** You may choose to include further statements where relevant about: SORP reference **Our Policy on Grant Making is in accordance with our stated aims.** Para 1.38 Policy on grant making **N/A** Para 1.38 Policy on social investment including program related investment |Contribution made by
volunteers|Para 1.38|**The contribution from volunteers (our**
**Trustees) was in the form of**
**management of the Charity, governance**
**and safeguarding, allocation of funding**| |---|---|---| |Other||**Those Trustees/Volunteers during the**
**period of the report were: Gary Walker,**
**Bruce Thorogood, Ben Morris, Steve**
**Lacey, Peter Costalas, Angela Parry**| ## **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|**The Charity did not identify any likely**
**candidates to make grants to in support**
**of its aims. Therefore it was decided to**
**hold its reserves in anticipation of being**
**able to do so in 2024.**| ## **Additional information (optional)** You may choose to include further statements where relevant about: |Achievements against
objectives set|Para 1.41|**The Charity believes it achieved its aims**
**during 2023**| |---|---|---| |Performance of fundraising
activities against objectives
set|Para 1.41|**The Charity raised sufficient funds to**
**meet its objectives**| |Investment performance
against objectives|Para 1.41|**The Charity has no investment income**
**other than any interest on bank**
**deposits..**| ## **Financial Review** |**Financial Review**||| |---|---|---| |Review of the charity’s
financial position at the end
of the period|Para 1.21|**The Charity was solvent during this year**
**of operation, it had or generated**
**sufficient funds to meet its obligations.**| |Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|**The Charity aims to build on its reserves**
**so that it can again fund further voyages**
**on sail training vessels in accordance**
**with its objectives.**| |Amount of reserves held|Para 1.22|**£6396**| |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|**None**| ## **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|**The Charity’s principle source of**
**fundraising are as follows.**
**1) The Classic Channel Regatta Limited**
**2) Fundraising during a Classic Channel**
**Regatta**
**3) Fundraising from special events and**
**appeals**
**4) Donations from Companies and**
**Individuals**
**5) Donations from other Charities**
**supporting the aims of the CYSF**| |---|---|---| |Investment policy and
objectives including any
social investment policy
adopted|Para 1.46|**The Charity does not have any**
**investment vehicles. It holds all its**
**reserves as cash in its bank account.**| |A description of the principal
risks facing the charity|Para 1.46|**The inability to raise sufficient funds to**
**meet its objectives.**| |Other||**Due to problems with several sail**
**training charities (including the Island**
**Trust) we may find it more difficult to**
**find suitable vehicles to support our**
**aims.**| ## **Structure, Governance and Management** |Description of charity’s

||| |---|---|---| |~~t~~
~~t~~
Type of governing document|Para 1.25|**Standard CIO Trust Deed approved by**
**the Charity Commission.**| |How is the charity
constituted?|Para 1.25|**The Charity is a CIO**| |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
|Para 1.25|**Each Trustee is appointed by the then**
**current Board of Trustees. No other**
**person or body is able to appoint.**| |~~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|**The Charity is a small organisation**
**operating in a limited pool of expertise. It**
**therefore has no formal recruitment**
**policies. Any Trustee chosen will need to**
**demonstrate they have sufficient**
**knowledge of sailing and preferably sail**
**training. They will need to demonstrate**
**familiarity with the workings of a charity**
**which works with young people, H&S in**
**a maritime environment and**
**safeguarding policies of the Charity.**| |---|---|---| |The charity’s organisational
structure and any wider
network with which the
charity works|Para 1.51|**The Charity is organised by having an**
**active Board of Trustees who are**
**responsible for all decisions. Executive**
**actions may be delegated to one or more**
**Trustee. It works closely with other**
**organisations responsible for providing**
**the type of sailing activities which meet**
**the objectives.**| |Relationship with any related
parties|Para 1.51|**It has no “Related Parties”. It works**
**closely with the Classic Channel Regatta**
**Limited which has provided funds for the**
**CYSF.**| |Other||**During 2023 The CYSF was able to fully**
**fund its activities with assets and**
**donations particularly from the CCR Ltd.**| ## **Reference and Administrative details** ## **Names of the charity trustees who manage the charity** |1
2
3
4
5
6|**Trustee name**|**Office (if any)**|**Dates acted if**
**not for whole**
**year**|**Name of person (or body)**
**entitled to appoint trustee**
**(if any)**| |---|---|---|---|---| ||Gary Walker||Whole Year|| ||Bruce Thorogood||Whole Year|| ||Ben Morris||Whole Year|| ||Steve Lacey||Whole Year|| ||Peter Costalas||Whole Year|| ||Angela Parry||Part Year|| Corporate trustees – names of the directors at the date the report was approved **N/A** Name of trustees holding title to property belonging to the charity **N/A** ## **Funds held as custodian trustees on behalf of others** |Description of the assets
held in this capacity|N/A| |---|---| ## **Additional information (optional)** ## **Names and addresses of advisers (Optional information)** **Type of Name Address adviser N/A** **Name of chief executive or names of senior staff members (Optional information)** N/A ## **Exemptions from disclosure** Reason for non-disclosure of key personnel details **N/A** Other optional infonnation The Charity is working to identify opportunities to place deriving and, disadvantaged young people on Classic Yachts in regattas. The current economic climate post Covid means that several sail training yachts ', have now been put on the market for sale. This includes STS Pegasus which was the ideal Gandidate for the CYSF to fulfil its aims. I It is exploring options in the future including placing suitable Gandidates on private ! ', yachts but there are several problems with this which the Charity needs to find solutions to. These are mainly to do with Safeguarding and Safety. Further research will be actioned In the future to see if this is viable. However the i extent of the work required to ensure these policies can be implemented are a hallenge for a small charity such as the CYSF. Declarations The trustees declare that they have approved the trustees. report al)ove. Signed on behalf of the c Signatu arity's trustees Full namels) ! Peter George Costalas Position (eg Trustee Secretaryj Chair, etc) Dats 1311012023 ||**Classic Young Sailors Foundation**|**Classic Young Sailors Foundation**|**Classic Young Sailors Foundation**|**Classic Young Sailors Foundation**|**Classic Young Sailors Foundation**|**11177006**|**11177006**||**CC16a**| |---|---|---|---|---|---|---|---|---|---| ||||||||||| ||**Receipts andpayments accounts**||||||||| ||**For the period**
**from**||Period start date||**To**||Period end date||| ||||01/01/2023||||31/12/2023||| ||||||||||| |**Section A Receipts and payments**|||||||||| ||**Unrestricted**
**funds**||**Restricted funds**||**Endowment**
**funds**||**Total funds**||**Last year**| ||**to the nearest £**||**to the nearest £**||**to the nearest £**||**to the nearest £**||**to the nearest £**| |**A1 Receipts**|||||||||| |CCR Ltd (£1800)|||**-**||**-**||**-**||**-**| |Beers LLP (£23)|||**-**||**-**||**-**||**-**| |Total Corporate Donations|**1823**||||||**1,823**||**7,453**| |Amazon Smile|18||**-**||**-**||**18**||5| |Photo sale (Via Stripe)|**71**||**-**||**-**||**71**||**1,750**| |Fundraising at Event|||||||**-**||**908**| |Fund Raising Dinner|**415**||**-**||**-**||**415**||**-**| |Direct Private Donations|**- 0**||**-**||**-**||**-**||**1,045**| ||**- 0**||**-**||**-**||**-**||**-**| |**_Sub total_**_(Gross income for AR) _|
**2,327**||**-**||**-**||**2,327**||**11,161**| ||||||||||| |**A2 Asset and investment sales,**
**(see table).**|||||||||| ||**- 0**||**- 0**||**- 0**||**-**||| ||**- 0**||**- 0**||**- 0**||**-**||**- 0**| |**_Sub total_**|
**- 0**||**- 0**||**- 0**||**-**||**- 0**| ||||||||||| |**_Total receipts_ **|
**2,327**||**- 0**||**- 0**||**2,327**||**11,161**| ||||||||||| |**A3 Payments**|||||||||| |Pegasus Voyage (2022)|||||||**-**||**10,950**| |Trustees Liability Insurance|**408**||**-**||**-**||**408**||**-**| |Refund on Photo sale|**42**||**-**||**-**||**42**||**-**| |CCR Ltd Payment (account servicing)|**10**||**-**||**-**||**10**||**-**| |Bank Charges|**60**||**-**||**-**||**60**||**63**| |**_Sub total_ **|
**520**||**-**||**-**||**520**||**11,013**| ||||||||||| |**A4 Asset and investment**
**purchases,(see table)**|||||||||| ||**- 0**||**- 0**||**- 0**||**-**||| ||**- 0**||**- 0**||**- 0**||**-**||| |**_Sub total_ **|
**- 0**||**- 0**||**- 0**||**-**||**- 0**| ||||||||||| |**_Totalpayments_ **|
**520**||**- 0**||**- 0**||**520**||**11,013**| ||||||||||| |**_Net of receipts/(payments)_ **|
**1,807**||**-**||**-**||**1,807**||**148**| |**A5 Transfers between funds**|**- 0**||**-**||**-**||**-**||**-**| |**A6 Cash funds lastyear end**|**4,589**||**-**||**-**||**4,589**||**-**| |**_Cash funds thisyear end_ **|
**6,396**||**-**||**-**||**6,396**||**148**| ||||||||||| ||||||||||| |**Section B Statement of assets and liabilities at the end of the period**|||||||||| |**Categories**|**Details**||||**Unrestricted**
**funds**||**Restricted funds**||**Endowment**
**funds**| ||||||**to nearest £**||**to nearest £**||**to nearest £**| |**B1 Cash funds**|Cash HSBC Account||||**6,396**||**-**||**-**| ||||||**-**||**-**||**-**| ||||||**-**||**-**||**-**| ||**_Total cash funds_**||||**6,396**||**-**||**-**| ||(agree balances with receipts and payments
account(s))||||OK||||OK| CCXX R accounts (SS)1 10/10/2024 1 Unrgstricted Rèstrfetsd funds Endowmgnt I funds to ne*￿te to r￿￿rEste 82 OtheT monetary assets FI￿d tC+¥Jhkh , Cuvr•ntv8luè 10Olonall Details C05t Irfthnal) ,Fu￿1 to •gset Current value Detslls B4 Assets retained for tho charlty's own use IDetails Vkn du& lo￿ana1> rElJt 85 Liabi11ti88 .-z•a• Signed by one ort¥Yo trustèe8 on beh81F of all the Irust8es Print Nam& Signature Date of appro￿1 /sJio CCXX R2 accounts ISSI 1011012024