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|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|
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|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||?$3,S01.20||172,313.35|
|Currenl assets||||||
|Prepayments||8,498.02||2,430.09||
|Debtors|20|285.00||795.00||
|Cash at bank||136,250.71
r45,033.73||!?!]151.e3
231,3?7.02||
|Greditors:amounts failing due within one year|21|-1,589.00||4,316.63||
|Liabilities||||-2,000.00||
|Netcurrontassets|||143,444.73||225,060.39|
|Netassets|||437,345.S3||397,373.74|
|CharityFunds||||||
|Unrestricted funds|22||355,457.19||320,S37.09|
|Restrictedfunds|22||81,888.74||76,536.65|
|Totalfunds|||437,345.93||397,373.74|
##
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|fo|r theyearended31 December2023|||||
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
|||funds|funds|funds|funds|
|||2423|2023|2923|2022|
|3|Donations& Legacies|L|€|L|t|
||Donation HullsFund||2,804.00|i,804.00|4,153.00|
||Donations||0.00|0.00|250.m|
||Tax reclaimed (Gift Aid onHullsfund donations)||1S|477.19||
|4Grants|||||
|---|---|---|---|---|
||t|I|E|T|
|RE$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|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|||||