| Contents | Page |
|---|---|
| Reference andadministrative detailsoftheCharity,itsTrustees and Adtrisers | 1 |
| Trustees'report | 2to9 |
| lndependent Examiner'sreport | 10 |
| Statement offinancial activities | 11 |
| Balance sheet | 12 |
| Notestothefinancialstatements | 13to21 |
| Trustees | |
|---|---|
| Colonel JGJRobinson | Commodore(Appointed A2lAA2A21j(1| |
| LieutenantColonelCWBattey | Vice-Commodore(Appointed01l11l20){11 |
| MajorGeneral(Retired)AEWhitleyCMG CBE Lieutenant ColonelTlves |
Chair(appointedO611012A23) (appointedOOfiOlzO23) |
| Brigadier (Retired) SHodder LieutenantceneralRWardlawOBE |
(appointed06fi02023) Trustee (ElectedO4l1Ol19,Resignedffifi0/2023) |
| Colonel (Retired) R C HendicottMBE | Trustee (Elected01/11120,Resigned06fi012023) |
| Chair (Appointed29/10121,ResignedOOI1A12023) | |
| (1)Ex-officio, normally appointed for3years | |
| Non TrusteeAppointment | |
| Colonel (Retired) R D Richards | Honorary Secretary (Appointed November2021,Resigned October 2023) |
| lVlajorGeneral(Retired) AEWhitley | Honorary Trea$urer (Appointed November2021,Resigned October 2023) |
| Lieutenant ColonelJBainger | Honorary Secretary (Appointed Oetober 2023) |
| Brigadier (Retired)ICaws OBE | HonoraryTreasurer(Appointed October 2023) |
| Lieutenant Colonel (Retired)JD Lewis | $ecretary totheBoard of Trustees (AppointedA1l$gl23)r |
| LieutenantColonel(Retired) N Edwards | IVembership Secretary (Appointed October 2022) |
| Principal0ffice |
| Royal Engineer Yacht Club |
|---|
| TheRavelin Building |
| Brompton Barracks |
| Dock Road |
| Chatham |
| KentIME44UG |
| 8..^*:-^- lrurpEuuuill EAdIllilcr |
| Chris DeaconFeCA |
| VisionAccountingLtd |
| Fortis House |
| CotheyWay |
| Ryde |
| PO331QT |
| StatementofFinancialActivities for theyearended31Deeember2023 |
|||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| Note | 2023t | 20?3 L |
2023f | 2022 L |
|
| lncome and endowmentsfrom: | |||||
| Donations&Legacies | 3 | 2,804.00 | 2,804.00 | 4,403.00 | |
| Grants | 4 | s9,341.84, | 2,500.00 | 61,841.84 | 20,465.00 |
| Gmnttorarardsnew llex(Merlin)Designated | 4 | f,0,0ss.00 | 30,000.00 | ||
| Gift AidTaxReclaimed | J | 477.19 | 4.77.19 | ||
| Fundraising | 5 | 3,470.70 | 3,470.70 | ||
| Subscriptions | 6 | 15,040.00 | 15,04CI"00 | 13,845.00 | |
| CharterHire Other lncome lnvestment lncome |
7 BI |
.,,1OU.JU 15,755.35 474.18 |
J! ' OO.JU 15,755.3S 474.18 |
I,I1IJ.UU 21,223.88 119.47 |
|
| Total lncome | 127,868.375,781.19 | 't33,649.56 | 61,199.35 | ||
| Expenditure on: Charitableactivities |
10 | 93,248.27 429.10 | 93,677.37 | 81,093.85 | |
| TotalExpenditure | 93,248.27429.',19 | 93,677.37 | S1,093.85 | ||
| Netincome / {expenditure} before | 34,520.105,362.09 | 39,972.19 | -19,894.50 | ||
| revaluations | |||||
| Gains/(losses) on revaluationsoffixedassets | 19 | ||||
| Netincome / (expenditure) beforetransfers | 34,620.105,352.09 | 39,972.19 | -19,894.50 | ||
| Transfers | |||||
| Hulls (Designated) | -78,000.00 | 78,000.00 | |||
| Offshore (Designated) | 78,000"00 | -78,000.00 | |||
| Netmovementinfunds forthe year | 34,620.105,352.09 | 39,972.19 | -19,894.50 | ||
| Reconciliationoffuntls | |||||
| Totalfundsat1January 2023 | 320,837.09 | 76,535.65 | 397,373"74 | 417,268.74 | |
| Totalfundsat31 Decemher2023 | 355,457.19 | 8'1,888.74 | 437,3,t5.93 | 397,374.24 | |
| Allactivitiesrelatebcontinuing operations. |
| Year Ended | Year Ended | ||||
|---|---|---|---|---|---|
| 31December | 31 December | ||||
| 2023 | 2022 | ||||
| Note | {: | € | €f | ||
| Eivarl rcca** |
|||||
| Tangible assets | 19 | ?$3,S01.20 | 172,313.35 | ||
| Currenl assets | |||||
| Prepayments | 8,498.02 | 2,430.09 | |||
| Debtors | 20 | 285.00 | 795.00 | ||
| Cash at bank | 136,250.71 r45,033.73 |
!?!]151.e3 231,3?7.02 |
|||
| Greditors:amounts failing due within one year | 21 | -1,589.00 | 4,316.63 | ||
| Liabilities | -2,000.00 | ||||
| Netcurrontassets | 143,444.73 | 225,060.39 | |||
| Netassets | 437,345.S3 | 397,373.74 | |||
| CharityFunds | |||||
| Unrestricted funds | 22 | 355,457.19 | 320,S37.09 | ||
| Restrictedfunds | 22 | 81,888.74 | 76,536.65 | ||
| Totalfunds | 437,345.93 | 397,373.74 |
| fo | r theyearended31 December2023 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| 2423 | 2023 | 2923 | 2022 | ||
| 3 | Donations& Legacies | L | € | L | t |
| Donation HullsFund | 2,804.00 | i,804.00 | 4,153.00 | ||
| Donations | 0.00 | 0.00 | 250.m | ||
| Tax reclaimed (Gift Aid onHullsfund donations) | 1S | 477.19 |
| 4Grants | ||||
|---|---|---|---|---|
| t | I | E | T | |
| RE$portsBoard | 41,000.00 | 41,000.00 | 3,600.00 | |
| RESportsBoard(Offshore) | 4,400.00 | 4,400.00 | ||
| H&[VITrust | 2,$00.00 | 2,500.00 | ||
| HQ GarrisonWindsurfing (lnshore) | 13,941.84 | 13,941.84 | 15,025.00 | |
| GranttowardsnewYacht(lUerlin) | .00 | |||
| lncomefromGrants in2A22compriseci820,465unrestricteci, | ||||
| 5Fundraislng Events | ||||
| RE Dinner LymingtonMeet |
1,468.70 2,002.00 |
- - |
1,46g.70 2.AO2.OA |
j,A72.oa |
| 3,470.70 | - |
3,470.70 | 1,372.00 | |
| 6Subscriptions | ||||
| - | f | f | I | I |
| REYC | 15,040.00 | 15,040.00 | 13,845.00 | |
| lncomefrom subscriptionsin 2022 wasallunrestricted | ||||
| 7Charter Hirc (Offshore) | ||||
| c | f | € | f | |
| Yacht Charter Hire lncome(tvterlin) | 3,786.30 | 3,?86"30 | 1,143.00 | |
| 3,786.30 | - |
3,786.30 | 1,143.00 | |
| Chader hire (offshore) income in2A22wasallunrestricted. | ||||
| BOther income | ||||
| t | f | f | € | |
| MooringFees | 10,280"61 | 10,280.62 | 8,920.00 | |
| PropertySales(lnshore) | 6,700.00 | |||
| PropertySales(offshore) | 500.00 | |||
| BlueEnsignPermits | 242.00 | 2rt2.00 | 115.00 | |
| Conservancy -Chatham RE SailTrainingWeek |
1,403.04 1,5$0.S0 |
1,403.04 {qfrnnn |
1,280.00 174qnO |
|
| lnsurance Claim(lnshore) | 1,468.99 | 1,468.9$ | 4&.88 | |
| InsuranceClaim (Offshore) | dOU.UU | JOU.UU | ||
| Yacht Charter1006contribution to Hulls(D) | 42A.7A | 420.70 | 0; | |
| Other incomein2A22was allunrestricted. | ||||
| 9lnvestmentincome | ||||
| Bankinterest receivable | tff;f 474.18 |
- |
4.74"18 | 119 47 |
| lnvestment income in2OD.wasallunrestric'ted. | ||||
| Totalincome | 1?i$68.375,781.19 | 't33,649.566'1,199.35 |
| 10Analysis ofexpenditurebyactivities | ||||||||
|---|---|---|---|---|---|---|---|---|
| Direct costs |
Grantfundingof activities |
$upport eosts |
Total | Total | ||||
| Note | 2023 € |
2023 € |
2023 s |
2023f | 2022 € |
|||
| Yacht Club | 11 | 4,634.10 | 12,095.87 | 16,749.97 | 13,008.94 | |||
| Offshore | 12 | 3,342.',l2 | 26,153.t5 | 29,4S$.37 | 20,937.22 | |||
| lnshore | 4a | 18,537.50 | 4E ar6 Idlu*u'39 |
fi6 | ,a | 4aa t* |
a4 466 aa | |
| Chatham | 14 | 9,262.56 | 3,581.88 | 12,844"44 | 10,596.67 | |||
| H&M Trust | 15 | 429.10 | 429.10 | 161.35 | ||||
| Hulls (D) | '16 | 4,680.00 | ||||||
| 17,238.78 | 18,S56.60 | 57,471.S9 | 93,677.37 | 81,093.85 | ||||
| Unresticted | Restricted | Total | Total | |||||
| funds | funds | funds | funds | |||||
| 2023 | 2023 | 9023 | 2022 | |||||
| 11YachtGlub | t | E | ||||||
| Directcostsincluding Fundraising | ||||||||
| RE Dinner | 2,301.75 | 2,301.?5 | 1,651.00 | |||||
| REYear Book | 560.75 | 560"75 | 1,715.21 | |||||
| Ties | 622.00 | |||||||
| Lymington Meet | 1,693.60 | 1,693.60 | 41S64 | |||||
| Blue Ensign Permits | 78.00 | 7S.00 | 78.00 | |||||
| 4,634.10 | 4,634.104,407 85 | |||||||
| Admin and Supportcosts | ||||||||
| AGM Costs | 162.50 | 152"5t] | ||||||
| Bank charges | 28A.24 | |||||||
| Go Cardless Fees | 101.63 | 101.63 | ||||||
| lnsurance | 2,370.99 | 2,370.SS | 418.99 | |||||
| ASAAffiliation | 890.00 | |||||||
| StaffiAccountCosts | 2,009.71 | |||||||
| Sailing Club Manager Software | 2,688.00 | ?,s88.00 | 2,578.80 | |||||
| TrophieslEngravingiFlags | 305"00 | 305.00 | ||||||
| Stationery/sundry expenses | 29"v5 | rs.?5 | 358.41 | |||||
| Computer Costs | 338.03 | |||||||
| Travel | ||||||||
| Governance | ||||||||
| Bookkeeping and Accountancy Fees* | 6,403.00 | 6,403.00 | ||||||
| Legal (lCO reg) | 35.00 | 35.00 | ||||||
| c r?c in | araonn | |||||||
| 16,729.97 | 16,729.97 | 13,008.54 |
| Unrestricted | Restricted | Restricted | Total | Total | ||||
|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||||
| 12Offshore | 2423 € |
2423g | 2023t | 2022f | ||||
| Directcosts | ||||||||
| lVlooringFees | 1,758.75 | 1,758.75 | 2,303.65 | |||||
| Race Fees | 1,328.37 | 1,328.37 | ||||||
| TrainingEvents | 255.00 | 255.00 | ||||||
| 3,342"12 | 3,342.123,450.77 | |||||||
| SupportCosts&Resources Expended | ||||||||
| Go Cardless Fees (Charter) | 18.12 | 18.12 | ||||||
| Equipment Purchased | 7,234.80 | 7,234.89 | ||||||
| General [4aintenance | 9,245.18 | 9,245.18 | 8,946.5S | |||||
| lnsurance | 2,661.89 | 2,661.89 | 942.26 | |||||
| Lift & Cradle | 1,882.50 | 1,882.50 | 3,950.00 | |||||
| Membership & Subscriptions | 200.00 | 200.00 | ||||||
| PlannedlVlaintenance | 1,755.88 | 1,755"88 | ||||||
| R&R equipment | 151.25 | 151"25 | 49.S9 | |||||
| RDSA registration Trojan | 100.00 | 100.00 | 90.00 | |||||
| Promotional/advedising | ||||||||
| Fuel | 374.22 | |||||||
| Bosuns costs | 94.34 | |||||||
| Certification & lnspection | ||||||||
| Travelandaccommodation | 343.09 | |||||||
| PropertylEquipment disposal Depreciation |
1 | 1,010.00 903.61I (2nnn |
||||||
| 486.45 | ||||||||
| 29,495.35 | 29,435,352A,%7.22 | |||||||
| Offshoreexpenditurein2022was allunrestricted | ||||||||
| l3lnshore | c | s | t. | c | ||||
| Directcosts | ||||||||
| REYC !nshoretraininoevents | 4 373 0n | a37300 | ))a3ag | |||||
| Travel&accommodation | 4,710.CIo | 4,710.00 | 4,451.71 | |||||
| IVedway YC Sail Training | 1,300.00 | i,300.00 | 1,300.00 | |||||
| Grant Expenditure-new equipment | 154.sCI | 154.50 | ||||||
| 1 | 507 | 955.70 | ||||||
| SupportCosts | ||||||||
| Promotional | 551.99 | 551.9S | ||||||
| Equipment maintenance | 2,138.38 | 2,138.38 | 561.00 | |||||
| New Equipment purchased | 2,618.32 | ?,819.32 | 7,381.30 | |||||
| Subscriptions | 250.00 | |||||||
| Disposals Depreciation |
10,332.30 | - | 10,332"30 | 10,219.67 5,342.00 |
||||
| , @ |
1$,640.99 | - | r@ | 15,S40.8S23,753.97 | ||||
| 34,17S^49 | 34,178"4931,709.67 |
| Unrestricted | Restricted | Total | Total | |||
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 14Chatharm | 2423 f |
2023f | 2023 € |
2422 € |
||
| Dircct costs | ||||||
| Mooring Maintenance Mooring Pontoon Licence (Peel Ports) |
't,944.00 1,491.7? |
4,S44.09 1,491.72 |
3,839.20 1,400.00 |
|||
| Crown Estates | 1,600.00 | 1,600.00 | 1,600.00 | |||
| Peel Ports Conservancy | 1,226.84 | 1,226.84 | 2,230.83 | |||
| Port of Sheerness | ||||||
| 9,262.56 | s,262"56 | 9,070.03 | ||||
| G..^^^4 -^^a^ 9rrPPLilr,r,vSr"s |
||||||
| Bank charges | 2.50 | 2.50 | ||||
| Equipment (Admin) | 7(l(}0 | 7$.99 | ||||
| lnsurance | 389.32 | sss.$2 | 67.02 | |||
| Stationery, Postage&Printing | 77"48 | Y7"48 | ||||
| Mooring Manager Expenses | 324."0$ | 334.00 | 755.42 | |||
| R&R&Maintenance | 4.1&.7& | 415.74 | 250"20 | |||
| Depreciation | 2,292.85 | ,,?92.85 | 199.00 | |||
| Bad Debtwrite-oii | Z43.UU | |||||
| 3,581.88 | 3,581.88 | 1 |
,526.64 | |||
| 't2,844.44 | 12,844.44 | 10,596.67 | ||||
| i E i lo rr f----a A---^4- IOI'16(lvlItUSt \rfiitlts |
,,)6 {n +aJ-ItJ |
|||||
| 429"10 | ||||||
| 16HullsFund | ||||||
| Support Costs | ||||||
| YachtSale Cost | 4 | 00 | ||||
| f | L | |||||
| 17 Netlncorne/{Hxpendlture} | 39,972.fg | -19,894.50 | ||||
| Thisisstatedafter charging: | ||||||
| Depreciation of tangible fixed assets | ||||||
| - ownedbythecharity | 15,528.76 | 7,A71 |
| Notes to thefinancial statements fortheyear ended31Oecember2023 |
||
|---|---|---|
| Total | Total | |
| Year Ended | Year Ended | |
| 31Becember | 31December | |
| 16 SraTI C0$tS | tuza | 2UZl |
| s | f | |
| Staff costs were asfotrlows: | ||
| Wages andsalaries | 836 | |
| Socialsecurigcosts | n | 0 |
| 0 | 836 | |
| The average monthly number of employees during the year was as follows: | ||
| lVlanagement andadminisfationofthefund | No | No. |
| 0 |
| 19Tangiblefixe | <lassets | |||||||
|---|---|---|---|---|---|---|---|---|
| YachtsllexCosts t c |
Windsurfing andDinghyt |
Other Equipment € |
Totalfunds 2923 € |
Totalfunds 2022 f |
||||
| Gost orvaluation | ||||||||
| At1January 2023 | 87,501 .00 | 106,417.35 | 61,017.00 | 254,935.35 | 325,346 | |||
| Additions | '124,500.00 | 12,616.61 | 137,116.61 | 14,819 | ||||
| Disposals | -89,230 | |||||||
| Revaluation | ||||||||
| At31December | 2023 | 2'!2,001"0012,616.61't06,417"35 | 61,017.00 | 392,051.96254,935 | ||||
| Depreciation | ||||||||
| AtIJanuary 2023 | 72,197.0A | 10,425.00 | 82,622.O0 | 75,551 | ||||
| Chargefortheyear | 2,760.61 | 10,332.30 | 2,435.85 | 15,528.76 | 7,471 | |||
| Dlsposals | ||||||||
| Af ?4 F\aaamhar | )fi9? | 2.760.61S?529.30 | 12.860.8598150-7fr | n)6)) | ||||
| Netbookvalue | ||||||||
| At 31 December | 2023 | 212,001.009,S56.0023,888.05 | 48,156.15 | 293,901.20172,313 | ||||
| At 31 December | 2022 | 87,501 | 34,22050,592 | 172,313 | 253,795 | |||
| 20Debtors | ||||||||
| I | L | |||||||
| Otherdebtors | aaE | 7S5 | ||||||
| 21Creditors: | ||||||||
| Amountsfallingduewithinone year: | c | |||||||
| Liability,Army | Grant repayment | 2,000 | ||||||
| Other creditors | 7 |
| 22 Statement offunds-curr | entyear | |||
|---|---|---|---|---|
| Designated Funds | Brought forwardt lncomeExpenditure I e |
Gainsl {Losses)t |
Transfers f |
Carried Forwardt |
| Chatham | 23,463.33 11,683.66 -12,844.44 |
22,302.55 | ||
| Offshore | 43,258.66 34,166.30 -29,495.37 |
78,000.00 | 125,S29.5S | |
| lnshore | A1EAE" J t,JVV.JJ a4 aad o, L I,Jt V.AJ a, 4ao i6 -Ja,Itg.tv |
40 roo Ea l9t, uu,ut |
||
| Hulls | 4442A1 nn 424.70 |
-78,000.00 | 43,812.70 | |
| 219,714.3267,641.49-76,518.30 | 210,833.51 | |||
| Unrestricted funds | ||||
| REYC | 101,126.7760,226.88-16,729.97 | 144,623.68 | ||
| Total unrestricted funds | 320,837.09127,868.37-93,248.27 | 355,457.19 | ||
| RestrictedFunds | ||||
| H&MTrust | 4,156.652,500.00-429.1A | 6,227.55 | ||
| Townsend Trust | ||||
| Hulls | 72,380.003,281.19 | 75,661.19 | ||
| 76,536.65 5,781.19 -429.10 |
81,888.74 | |||
| Total | 397,373.74133,649.56-93,677.37 | 437,345.93 |
| Statement offunds-prioryear | |||||||
|---|---|---|---|---|---|---|---|
| Brought forward |
lncomeExpenditure | Gains/ (Losses) |
Transfers | Carried Foruvird |
|||
| f | c | c | F | f | f | ||
| Designated Funds Chatham | -a 6an nn ZJ! OUIJ.UU |
,A ^nn na IU,ZVV.VU |
4A EAA AA - t\J,JVU.(J' |
^a taa aa zJ,+uJ.oo |
|||
| Offshore | '137,998.00 | 4,197.88 | -24,937.22 | -78,000.0; | 43,258.66 | ||
| lnshore | 36,236.00 | 27,070.00 | -31,7A9.67 | 31,596.33 | |||
| Hulls | 4/ 945.00 | 127.40 | -4 nn |
7 | 000.00 | 121 3S2.00 | |
| Unrestrictedfunds REYC | 98,68424 | 15,451.47 | -13,008S4 | 101,126.77 | |||
| Restricted Funds H&M Trust | 4,318.00 | -161.35 | 4,156.65 | ||||
| Townsend Trust | |||||||
| Hulls | od 227.40 |
153.00 | 380.00 | ||||
| -161.35 | 536.65 | ||||||
| Total | 417,268.24 | 61,199.35 | -81,093.85 | 4 |
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| funds | funds | funds | funds | |
| 2023 € |
2023 I |
2023 t |
2022t | |
| Tannihlo fivar,l aqcofc |
?q?qn{,n rv*rvv r '-e |
- | 293,901.20 | ,17,'r,11?q |
| Currenta$$ets | 63,144.99 | 81,888.74 | 145,033.73 | 231,377.02 |
| Creditorsduewithinoneyear | -'!,5S9.00 | - | -1,589.00 | -6,316.63 |
| 355,457.19 | 437,345.93 | 357,373.74 | ||
| Prioryear | ||||
| Unrestricted | Restricted | Total | Total | |
| tunds | funds | funds | funds | |
| 2022t | 2022t | 2022t | 2421 | |
| Tangihle fixed assets | 172,313.35 | 172,313.35 | 253,795 | |
| Current assets | 154,840.37 | 76,536.65 | 231,377.02 | 164,649 |
| Creditorsduewithinoneyear | -6,316.63 | - | -6,316.63 | -1,176.000 |
| 320,837.09 | 76,536.65 | 397,373.74417,268 | ||
| 23 Related partytransactions |