| Referenceandadministrativedetails oftheCharity,its TrusteesandAdvisers | 1 |
|---|---|
| Trustees'rcport | 2to10 |
| lndependent Examiner'srcport | 11 |
| Statement offinancial activities | 12 |
| Balancesheet | 13 |
| Notestothefinancialstatements | 14to 22 |
| Trustees | |
|---|---|
| Colonel JGJ Robinson | Commodore (AppointedOAAAEOZI)(1) |
| Lieutenant Colonel T lves | Vice-Commodore (AppointedA110112024)(1) |
| MajorGeneral (Retired) AEWhitleyCMGCBE | Chair(AppointedO611012023) |
| Lieutenant ColonelCWBattey | (Appointed41fi12a) |
| Brigadier (Retired) SHodder | (Appointed06/10/2023) |
| (1)Ex-officio,normally appointedfor3years | |
| NonTrusteeAppointments | |
| Lieutenant Colonel(Retired)JD Lewis | Secretary totheBoard ofTrustees(AppointedOll}gl20) |
| Lieutenant Colonel (Retired)N Edwards | tt/lembership $ecretary (AppointedOctober2022) |
| Lieutenant Colonel J Bainger | HonorarySecretary (Appointed October 2023) |
| Brigadier (Retired)ICaws OBE | HonoraryTreasurer (AppointedOctober2023) |
| StatementofFinancial Ac'tivities for theyearended31 December 2024 |
|||||
|---|---|---|---|---|---|
| Unrestricted | Restric'ted | Total | Total | ||
| funds | funds | funds | funds | ||
| Note | 2024 | 2024 | 2024 | 2023 | |
| t | E | t | f | ||
| lncome and endowmentsfrom: | |||||
| Donations & Legacies | 3 | 1,293.00 | 1,293.00 | 2,804.00 | |
| Grants | 4 | 16,200.00 | 16,200.00 | 61,841.84 | |
| Granttowards new llex (Nlerlin) Designated | 4 | 30,000.00 | |||
| GiftAid TaxReclaimed | J | 1,405.72 | 1,405.72 | 477.19 | |
| Fundraising | 5 | 3,792.00 | 3,792.00 | 3,470.70 | |
| Subscriptions | o | 14,015.00 | 14,015.00 | 15,040.00 | |
| CharterHire | 7 | 6,012,00 | 6,012.00 | 3,786.30 | |
| OtherIncome | I | 17,903.41 | 17,903.41 | 15,755.35 | |
| lnvestment lncome | I | 600.71 | 600.71 | 474.18 | |
| Total lncome | 42,323.12 | 18,898.7261,221.84 | 133,649.56 | ||
| Expenditure on: | |||||
| Charitable activities | 10to16 | 93,437.21 |
11,200.00 | 1A4,637.21 | 93,677 37 |
| Total Expenditure | 93,437.2111,200.00104,637.21 | 93,677.37 | |||
| Netincome/(expenditure) before revaluations | -51,114.097,698.72 | -43,415.37 | 39,972.19 | ||
| Gains/(losses) on revaluationsofflxed assets | 19 | ||||
| Netincome I (expenditure)betoretransfers | -51,114.097,698.72 | -43,415.37 | 39,W2.19 | ||
| Transfers | |||||
| Hulls(Designated) | |||||
| Ofishore (Designated) | |||||
| Netmovement in fundsfortheyear | -51,114.097,698.72 | -43,4',15.3739,972.19 | |||
| Reconciliation offunds | |||||
| Totalfunds at 1 January 2024 | 355,457.19 | 81,888.74 437,345.93 | 397,373.74 | ||
| Total fundsat 31 December 2424 | 304,343.10 | 89,587.46393,930.56 | 437,345.93 | ||
| All activities relatetocontinuing operations. |
| Balance Sheet as at31December2024 |
||||||
|---|---|---|---|---|---|---|
| Year Ended | Year | Ended | ||||
| 31December | 31December | |||||
| 2924 | 2023 | |||||
| Note | € | € | t | I | ||
| Fixed assets | ||||||
| Tangible assets | 19 | 257,342.27 | 293,901 .20 | |||
| Current assets | ||||||
| Prepayments | 4,069.78 | 8,498.02 | ||||
| Debtors | 20 | 790.00 | 285.00 | |||
| Cash at bank | 133.398.51 | 136,250.71 | ||||
| 138,258.29 | 145,03s.73 | |||||
| Creditors:amounts failing due within oneyear | 21 | -170.00 | -1,589.00 | |||
| Accruals | -1,500.00 | |||||
| Netcurrentassets | 136,588.29 | 143,444.73 | ||||
| Netassets | 393,930.56 | 437,345.53 | ||||
| Charity Funds | ||||||
| Unrestricted funds | 22 | 304,343.'10 | 355,457.19 | |||
| Restrictedfunds | 22 | 89,587.46 | 81 | 74 | ||
| Totalfunds | 393,930.56 | 437,345.93 |
| for | the year ended31December2024 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||||
| funds | funds | funds | funds | ||||
| 2424 | 2024 | 2024 | 2023 | ||||
| 3 | Donations&Legacies | t | € | I | f | ||
| Donation HullsFund | 1,293.00 | 1,293.00 | 2,804.00 | ||||
| Donations | |||||||
| Taxreclaimed (Gift AidonHullsfund donations) | 1 | 72 | 1 |
2 | 477.19 | ||
| 3,281.19 | |||||||
| lncomefromDonationsand Legaciesin2O23comprised t3,281 | .19 restricted. | ||||||
| 4 | Grants | ||||||
| RE Sports Board | t | t | I | € 41,000.00 |
|||
| RE Sports Board lOffshore) | 4,400.00 | ||||||
| H&M Trust | 5,000.00 | 5,000.00 | 2,500.00 | ||||
| Army Sports Lottery | 11,200.00 | 11,200.00 | 13,941.84 | ||||
| Grant towards new Yacht(tMerlin) | 30,000.00 | ||||||
| 16,200.0016,200.00 | 91,841"84 | ||||||
| lncome from Grantsin2023 comprised f89,341 .84 unrestricted | andi2,500restricted. | ||||||
| 5 | FundraisingEvents | ||||||
| RE Dinner | 1,249.50 | 1,249.501,468.74 | |||||
| Lymington Meet | 2,542.50 | 2,542.50 | 2,AA2.OA | ||||
| 3,792.00 | - | 3,792.003,47A.70 | |||||
| 6 | Subscriptions | ||||||
| € | t | € | € | ||||
| REYC | 14,015.00 | - | 14,0't5.0015,04000 | ||||
| lncome from subscriptionsin2023 was all unrestricted | |||||||
| 7 | CharterHire (Offshore) | € | E | f | E | ||
| YachtChafterHire Income (Merlin) | 5,410.80 | 5,410.80 | 3,786.30 | ||||
| Yacht Charter10olocontributiontoHulls (D) | 601.20 | 601.20 | 420.70 | ||||
| 6,012.00 | 6,012.00 | 4,207 00 | |||||
| Charter hire (offshore) incomein2A23was all unrestricted | |||||||
| 8 | Other income | ||||||
| € | € | € | E | ||||
| lVlooringFees | 11,290.50 | 11 | ,290.50 | 10,280.62 | |||
| Property Sales (lnshore) | 3,906.01 | 3,906.01 | |||||
| Propedy Sales (offshore) | 1,603.00 | 1,603.00 | |||||
| Blue Ensign Permits | 150.00 | 150.00 | 242.O4 | ||||
| Conservancy - Chatham | 953.90 | 953.90 | 1,403.04 | ||||
| RE Sail TrainingWeek | 1,560.00 | ||||||
| lnsurance Claim (lnshore) | 1,468.S9 | ||||||
| lnsurance Claim (Offshore) | 380.00 | ||||||
| 17,S03.41 | fi,903,,+r1533"85 | ||||||
| Other income in2023was all unrestricEd. | |||||||
| 9 | lnvestment income Bank interest receivable |
t 600.71 |
€ | € L ----T00t7T---fr416 |
|||
| lnvestment incomein2023 was all unrestricted | |||||||
| Iotalincome | 42,323.12 | 18,898.7261,221.84 | 133,649.56 |
| Directcosts | Grantfundingof activities |
Support costs |
Total | Total | ||
|---|---|---|---|---|---|---|
| 2024 | 2AU | 2AA | 2A24 | 2023 | ||
| Note | t | f, | t | t | f | |
| YachtClub | 11 | 4,192.00 | 12,219.35 | 16,4't1.35 | 16,7n.W | |
| Offshore | 12 | 6,798.89 | 51,622.72 | 58,421.61 | 29,495.37 | |
| lnshore | 13 | 4,661.85 | 11,200.00 | 6,485.65 | 22,347.54 | u,178.49 |
| Chatham | 14 | 5,504.15 | 1,952.60 | 7,456.75 | 12,844.44 | |
| H&[VITrust | 15 | 429.10 | ||||
| Hulls(D) | 16 | |||||
| 21,156.89 | 11,200.00 | 72,280.32 | 104,637.21 | 93,677.37 |
| Unrestricted | Restricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 20u | 2024 | 2024 | 2023 | |||
| 11 | YachtClub | € | t | a | f | |
| Directcosts including Fundralsing | ||||||
| RE Dinner | 1,277.00 | 1,277.00 | 2,301.75 | |||
| REYearBook | 56075 | |||||
| Ties | ||||||
| Lymington Meet | 2,832.00 | 2,832.00 | 1,693 60 | |||
| Blue Ensign Permits | 83.00 | 83.00 | 78 00 | |||
| 4,192.00 | 4,192.00 | 4,634.10 | ||||
| AdminandSupport costs | ||||||
| AGMCosts | 50.00 | 60.00 | 16250 | |||
| Bankcharges | ||||||
| GoCardlessFees | 244.59 | 244.55 | 101.63 | |||
| lnsurance | 2,555.76 | 2,555.76 | 2,374.99 | |||
| ASAAffiliation | ||||||
| StaffiAccountCosts | ||||||
| Sailing Club l\tlanager Software | 2,688.00 | 2,688.00 | 2,@8.00 | |||
| Trophies/Engraving/Flags | 305.00 | |||||
| Stationery/sundryexpenses | 5,548,35 | 5,548.35 | n.75 -Effi |
|||
| Governance | ||||||
| Bookkeeping andAccountancyFees* Legal(lCOreg) |
3,756.00 2,915.00 6,671.00 |
- - |
3,756.00 2,915.00 6,671.00 |
6,403.00 35.00 6,438.00 |
||
| 16,411.35 | 16,411 .35 | 16,729.97 |
| Unrestricted | Restrictd | Restrictd | Total | Total | ||
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 12 | Offshore | 2424 | 2024 | 2024 | ,nr? | |
| Directcosts | t | I | f | t | ||
| Mooring Fees | 5,901.59 | 5,901.59 | 1,758.75 | |||
| RaceFees | 897.30 | 897.30 | 1,328.37 | |||
| Training Events | 255.00 | |||||
| 6,798.89 | 6,798.893,342.12 | |||||
| SupportGosts & Resources Expended | ||||||
| Go Cardless Fees (Charter) | 11.24 | 11.24 | 18.12 | |||
| Equipment Purchased, Repairs & Renewals | m7.32 | fi7.32 | 7,386.05 | |||
| General[Vlaintenance | 9,011.92 | 9,011.92 | 9,245.18 | |||
| lnsurance | 4,323.35 | 4,323.35 | 2,661.89 | |||
| Lift & Cradle | 188.00 | 188.00 | 1,882.50 | |||
| Membership & Subscriptions | 2,006.00 | 2,006.00 | 200.00 | |||
| Planned Maintenance | 2,645.01 | 2,645.01 | 1,755.88 | |||
| Equipment Rental/Hire | 300.00 | 300.00 | ||||
| RDSA registration Trojan | 100.00 | |||||
| Travel and accommodation | 2,043.00 | 2,043.00 | ||||
| Depreciation | 30,586.88 | 30,586.88 | 2,90361 | |||
| s1,622.72 | 51,622.72 | lot33l3 | ||||
| 58,421.61 | 58,421.61 | 29 49535 | ||||
| Offshore expenditure in2A23was all unrestricted | ||||||
| 13 | lnshore | |||||
| Directcosts | t | g | s | f | ||
| REYC lnshore training events | 2,158.00 | 2,158.00 | 4,373.00 | |||
| Travel & accommodation (Brazil Trip) | 2,503.85 | 2,503.85 | 4,71A.00 | |||
| lVledwayYC Sail Training | 1,300.00 | |||||
| Grant ExpenditureBrazilASLGrant | - | 11,200.00 | 11,200.00 | 8,154.50 | ||
| 4,661.85 | 11,200.00 | 15,861.85 | 18,537.50 | |||
| SupportGosts | ||||||
| Promotional | 551.99 | |||||
| Equipment maintenance | 513.60 | 513.60 | 2,138.38 | |||
| Newequipment purchased | 2,618.32 | |||||
| Subscriptions | ||||||
| Disposals | ||||||
| Depreciation | 5,972.05 | - | 5,972.05 | 10,33230 | ||
| 6,495.65 | - | 6,495.65 | 15,640.99 | |||
| 11,147.50 | - | 22,347.5A | 34,178.49 |
| for t | heyear ended 31 December 2024 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| funds | funds | funds | funds | |||
| 14 | Chatham | 2424 € |
2424t | 2024 € |
2023 fl |
|
| Directcosts | ||||||
| lVooring[r1aintenance | 2,551.00 | 2,551.00 | 4,944.00 | |||
| lVooring Pontoon Licence(PeelPorts) | 676.85 | 676.85 | 1,491.72 | |||
| CrownEstates | 1,600.00 | 1,600.00 | 1,600.00 | |||
| PeelPorlsConservancy | 676.30 | 676.30 | 1,226.84 | |||
| Port of Sheerness | ||||||
| 5,504.15 | 5,504.15 | O OAD AA | ||||
| Support costs | ||||||
| Bank charges | 2.50 | |||||
| Equipment (Admin) | 79.99 | |||||
| lnsurance | 1,016.25 | 1,416.25 | 389.32 | |||
| Stationery, Postage & Printing | 77.48 | |||||
| Mooring Manager Expenses | 586.35 | 586.35 | 324.00 | |||
| R&R&[/laintenance | 415.74 | |||||
| Depreciation | 2,292.85 | |||||
| Bad Debtwrite-off | 285.00 | 285.00 | ||||
| lVembership Subscription | 65.00 | 65.00 | ||||
| 1,952.60 | - | 1,952.60 | 3,581 88 | |||
| 7,456.75 | 7,456.75 | 12,844.44 | ||||
| 15 | H&MTrust Grants | 429.10 | ||||
| 429.14 | ||||||
| - | ||||||
| 16 | HullsFund | |||||
| Support Costs | ||||||
| s | ||||||
| 17 | Netlncome I (Expenditure) | -43,415.37 | 39,972.19 | |||
| Thisisstatedafter charging: | ||||||
| Depreciation of tangiblefixedassets: - ownedbythecharity |
36,558.93 | 15,528.76 |
| No for |
tes to thefinancialstatements the year ended 31 December2024 |
||
|---|---|---|---|
| Total | Total | ||
| Year Ended | YearEnded | ||
| 31 December | 31December | ||
| 18 | Staffcosts | 2424 € |
2023r |
| Staff costs vrere as follows: | |||
| Wagesand salaries | 0 | 0 | |
| Social security costs | 0 | 0 | |
| 0 | 0 | ||
| Theaveragemonthly number of employees during the yearwasas follows: | |||
| I\Ianagement and admrnistrationofthe fund | No. | No | |
| 0 | U |
| 19 | Tangiblefixedassets | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Yachtsllex Costs | Windsurfing and Dinghy |
Other Equipment |
Totalfunds 2424 |
Total funds 2023 |
|||||
| e | € | E | € | € | € | ||||
| Cost orvaluation | |||||||||
| At1st January 2024 | 212,001.0012,616.61 | 1A6,417.35 | 61,017.00 | 392,051.96 | 254,935.35 | ||||
| Additions | 137,116.61 | ||||||||
| Disposals | |||||||||
| Revaluation | |||||||||
| At 31st December2024 | 212,A01.A012,616.61 | 106,417.3561,017.00 | 392,051.96 | 392,051.96 | |||||
| Depreciation | |||||||||
| At1st January 2024 | 2,760.61 | 82,529.30 | 12,860.85 | 98,150.76 | 82,622.O0 | ||||
| Charge for the year | 26,500.12 | 2,760 | 61 | 5,972.05 | ,JZb.IJ | 36,558.93 | |||
| Disposals | |||||||||
| At31stDecember 2024 | 26,500.12 | 5,52'1.2288,501.3514,187.00 | 134,709.69 | 98,150.76 | |||||
| Netbook value | |||||||||
| At31st December2A24 | 185,500.88 | ?,015 | 293,901.20 | ||||||
| At31December2023 | 212.4U.O0 | 9,856.0023,888.0548.1 | 15 | 293,901.20 | ,rr3,r* | ||||
| 20 | Debtors | ||||||||
| c | e | ||||||||
| Other debtors | 790.00 | 285.00 | |||||||
| (€720cleared on01lA1 12025) | |||||||||
| 21 | Creditors | ||||||||
| Amounts fallingduewithinone year: | f | f | |||||||
| Other creditors | 170.00 | 'l14.00 | |||||||
| 1,500.00 | 1,475.OO | ||||||||
| 1,670.00 | 1,589.00 |
| Statement offunds-currentye | ar | ||||
|---|---|---|---|---|---|
| Designated Funds | Brought forward I |
lncomeExpenditure 8r |
Gains/ (Losses) I |
Transfers I |
Carried Forward t |
| Chatham | 22,302.55 | 12,244.44-7,456.75 | 27,090.20 | ||
| Offshore | 125,929.59 | 7,0't3.80-58,421.61 | 74,521.78 | ||
| lnshore | 18,788.67 | 3,906.01-11,147.5A | 1',1,547.18 | ||
| Hulls | 43,812.70 | 601.20 | 44,413.90 | ||
| 210,833.51 | 23,7A5.41-77,025.86 | 157,573.06 | |||
| Unrestricted funds | |||||
| REYC | 144,623.68 | 18,557.71-16,4ii.35 | i46,770.44 | ||
| Totalunrestrictedfunds | 355,457,19 | 42,323.12-93,437.21 | 304,343.10 | ||
| Restricted Funds | |||||
| H&MTrust | 6,227.55 | 5,000.00 | 11,227.55 | ||
| ASL Grant lnshore Brazil2024 | 11,200.00 -'l 1200.00 |
0.00 | |||
| Hulls | 75,661.19 | 2,698.72 | 78,359.91 | ||
| 81,888.74 | 18,898.72-11,200.00 | 89,587.46 | |||
| Total | 437,345.93 | 61,221.84-104,63721 | 393,930.56 |
| Statement oftunds- prioryea | r 2023 | |||||
|---|---|---|---|---|---|---|
| Brought | Gains/ | Carried | ||||
| forurard | lncome | Expenditure | (Losses) | Transfers | Forward | |
| f, | tr | f | E | € | f | |
| Designated FundsChatham | 23,463.33 | 11,683^66 | -12,844.44 | 22,342.55 | ||
| Offshore | 43,258.66 | 34,166.30 | -29,495.37 | 78,000.00 | 125,929.59 | |
| lnshore | 31,596.33 | 21,370.83 | -34,178.49 | 187BB67 | ||
| Hulls | 121,392.00 | 420.70 | -78,000.00 | 43,812.70 | ||
| 219,710.32 | 67,641.49 | -76518.30 | 210,833.5'1 | |||
| UnrestrictedfundsREYC | 101j26.77 | 60,226.88 | -16.729.97 | 144.623.68 | ||
| Restricted FundsH&lVlTrust Hulls |
4,156.65 72,380.00 |
2,500.00 3,28'l.1I |
-429.10 | 4,227.55 75,661.19 |
||
| 76,53665 | 5,781.19-429.10 | 81,888.74 | ||||
| Total | 397,373.74 | 133,649.56 | -93,67737 | 437,345.93 |
| Current year | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |
| funds | funds | funds | funds | |
| 2024 | 2024 | 2024 | 2023 | |
| t | t | t | f | |
| Tangible fixedassets | 257,342.27 | - | 257,342.27 | 293,901.20 |
| Currentassets | 48,670.83 | 89,587.46 | 138,258.29 | 145,033.73 |
| Creditorsdue within oneyear | -1,670.00 | - | -f ,670.00 | -i,589.00 |
| 304,343.10 | 89,587.46 | 393,930.56 | 437,345.93 | |
| Prior year | ||||
| Unrestricted | Restricted | Total | Total | |
| funds | funds | funds | funds | |
| 2023f | 2023 t |
2423 f |
2022t | |
| Tangible fixedassets | 293,901.20 | 293,901.20 | 172,313.35 | |
| Currentassets | 63,144.99 | 81,888.74 | 145,033.73 | 231,377.A2 |
| Creditorsdue within one year | -1,589.00 | -1,589.00 | -6,316.63 | |
| 355,457.19 | 81,888.74 | 437,345.93 | 397,373.74 |