2020-12-31-accounts - Flushing Sailing Club

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Trustees’ Annual Report for the period

From 1[st] January 2020 to 31[st] December 2020

Charity name: Flushing Sailing Club

Charity registration number: 1182993

Objectives and Activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	The object of the CIO is to promote and facilitate community participation in healthy recreation by providing facilities for sailing for those resident in the local and greater Flushing and Falmouth Area and surrounding regions.
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	FSC CIO facilitates low cost keelboat racing in Falmouth Harbour and Carrick Roads and provides a social hub not only for race participants but also for the local community.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	The trustees confirm that throughout the period they have had regard to the Charity Commission’s guidance on public benefit. In particular: There is an open house policy on race nights and for the winter talks programme. The club house can be used as a hospitality venue with a small donation to cover costs. There is no entry fee requirement for new members applying to join the club. The costs of membership and Race Fees are kept low and among the lowest in the harbour.

Additional information (optional) You may choose to include further statements where relevant about:

	SORP reference
	Para 1.38	The CIO has made no grants in the period.

Policy on grant making
Policy on social investment including program related investment	Para 1.38	Not applicable
Contribution made by volunteers	Para 1.38	All club activities are run by volunteers with the exception of 2 paid, part-time, seasonal workers. The day to day running of the club is done by committee members and trustees as volunteers. In the period under review significant additional contribution has been made by volunteers towards the Clubhouse re- development project. This has facilitated the Club taking a project management approach to the re-development which has saved a substantial sum from the overall project cost.
Other

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 year has, of course, been dominated by the impact of Covid. The thoughts of the trustees and members is with all those who have been adversely affected over the period. Cornwall had the good fortune to have very low infection rates. FSC was the first Club in the Harbour to re-start its racing programme in a Covid compliant manner. In the end a much modified, but very full programme of events was held. Both the AGM and the series of winter talks have adapted to the “new normal” and been held using Zoom. Both of these assist in maintaining the club’s role as a social hub and to foster the all-important community spirit. The greatest achievement of the year is that we broke ground on the redevelopment of the clubhouse building. The energy and enthusiasm of the band of volunteers leading this has been amazing drawing on a wide range of skills from club members. The support of the local

community for the project, as evidenced in their financial support, has reaffirmed the key role that the Club plays in the local community going much broader than its core membership of racing sailors and their crews. The expectation is that the new clubhouse will be completed in time for the celebration of the Club’s centenary in May 2021, lockdown permitting!.

Additional information (optional) You may choose to include further statements where relevant about:

Achievements against objectives set	Para 1.41	See above
Performance of fundraising activities against objectives set	Para 1.41	Fundraising for the Clubhouse has been a key activity in 2020. As at 31stDecember 2020 a total of £364,000 had been raised or promised against a total project cost of £400,000.
Investment performance against objectives	Para 1.41	All surplus funds are held in accounts with UK based High Street banks.
Other

Financial Review

Financial Review
Review of the charity’s financial position at the end of the period	Para 1.21	The cash balances at the year-end are £22,191 in the General Account, which includes £3,825 in respect of members who paid their 2021 membership fees early. There is £9,273 in the catering account and £226,122 in the Building Account.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	FSC has a well-established long-term development plan. The key focus of the Plan is the development of top-class facilities to support access for all to the water in the pursuit of its charitable aim to promote and facilitate community participation in healthy recreation. To this end specific reserves have been established for the Clubhouse re-development project and to enable the Club launch to be replaced when required. The Club is very reliant on its generous sponsors and use of the Clubhouse by its members and the local community to generate the funds required to meet day-to-day running costs. The last year has shown both income sources to be hard to predict. The trustees have therefore determined that it is prudent to maintain between six and twelve months anticipated running costs by way of a general reserve. This level to be kept under periodic review.
Amount of reserves held	Para 1.22	The Re-development Fund is £265,444 the Boat and Engine Fund is £5,685 and the General Fund is £23,607
Reasons for holding zero reserves	Para 1.22	Not applicable
Details of fund materially in deficit	Para 1.24	Not applicable
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 funds to meet normal operating costs come from members subscriptions, race entry fees and commercial sponsors. Incidental income is generated from the use of the clubhouse building by members and the local community. Development projects, such as the new clubhouse, are only commenced when sufficient funds have been raised, or guaranteed sources of funds identified, to seethem through to completion. Any such

		funds are ring-fenced and held in a separate account.
Investment policy and objectives including any social investment policy adopted	Para 1.46	The club holds no long-term investments. The principle criterion is the security of funds, as such they are all held in accounts with UK based High Street banks.
A description of the principal risks facing the charity	Para 1.46	The trustees maintain a risk register that covers all aspects of the Club’s operations and which is kept under regular review. The principal risks are: Operational risk. The Charity’s key operational risk relates to the organisation of racing activities. Every year a comprehensive risk assessment and mitigation plan is prepared and discussed with the Harbour Authority. All racing is conducted in accordance with World Sailing Rules and the Charity uses trained and experienced race officers. Each skipper is required to acknowledge their own responsibility as regards risk management for themselves, their crew and their yacht. Project risk. The management and funding of the Clubhouse construction project is the second key risk for the Charity. The Charity has formed two special sub-committees to oversee all aspects of the project, drawing on the specialist knowledge of appropriate Club members. An experienced project manager has been appointed. The Charity will not enter into any financial contractual commitment for which it does not already have the funds on hand.
Other

Structure, Governance and Management

Description of charity’s trusts:
Type of governing document (trust deed, royal charter)	Para 1.25	CIO constitution
How is the charity constituted? (e.g. unincorporated association, CIO)	Para 1.25	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 trustees	Para 1.25	All trustees are elected from the Club membership at the AGM. One third of the trustees retire by rotation each year and may stand for re-election on two occasions. Any member may put their name forward to serve as a trustee when a vacancy arises.

Additional information (optional) You may choose to include further statements	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	New trustees are fully briefed on their duties and responsibilities using material from the Charity Commission website.
The charity’s organisational structure and any wider network with which the charity works	Para 1.51	The day-to-day activities of the Club are run by a management committee, chaired by the Club Commodore (who is also a trustee). The members of the management committee are elected annually at the AGM and are drawn from the club membership. Any member may put themselves forward for consideration by the members at the AGM. In a wider context the Club is a member of the Port of Falmouth Sailing Association, The Royal Yachting Association and the Cornwall Marine Network.
Relationship with any related parties	Para 1.51
Other

Reference and Administrative details

Charity name	Flushing Sailing Club
Other name the charity uses
Registered charity number	1182993

Charity’s principal address	New Quay Trefusis Road Flushing TR11 5TZ

Names of the charity trustees who manage the charity

Trustee name	Office (if any)	Dates acted if not for whole year
Peter Harvey	Chair	17/03/20-31/12/20
Gaye Slater	Commodore	17/03/20-31/12/20
Kaye Price
Jeanette Hill		17/03/20-31/12/20
John Maunder
Dave Owens
Ian Jakeways		01/01/20-17/03/20

– Corporate trustees names of the directors at the date the report was approved

Director name N/A

Name of trustees holding title to property belonging to the charity

Trustee name	Dates acted if not for whole year
N/A

Funds held as custodian trustees on behalf of others

Description of the assets Not applicable held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of Name Address adviser Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Position (eg Secretary, Chair, etc) Date
	Peter Harvey
	Chair
	21 April 2021
	21 April 2021

CHARITY COMMISSI FORENGLANDANDWALE	FlushingSailinsClubGIO	FlushingSailinsClubGIO			11829S3
	Receipts		and payments accounts
	Forthe period from		01Jan-2C	To	31-Dec-20
	Unrestricted funds	Restrictedfunds		Endowment funds	Total	funds	LastYear
	to thenearest€	to tho nearsst€		tolhenearest €	tothe near6stE		to tho nsarestI
Donations.orants andmemebrshio	23,649		16i	.571			1A7.220
Racefees	4,256					4,256
Barandceterind	5,865					5,865
InterestReceived	24					24
9uhtotaI(Grosslncome{orAR)	33,794		163,571			197,365
Totalreceipts	33,794		163,571			rsr,ros	IF:= l-T-r,rEI
A3
SubscriptionRYA	330					330		310
PrintinoDostaoand staionarv	1,516					1.516		1,450
Telephone/V1tosite	552					552		1.221
Renl								l_355
Lioht heatand water	33S					33S		1.026
Insurance	7.191					1.'t9{		1.553
ReDairsandrenewals	tL22					L22		1,626
Speakers	620					620		3{0
Cleanins	330					330		1.575
Miscellaneous	1&,1					151		666
Racinocosts	2.019					2.019		6.335
Chafitable dona!ions								225
Professional fees	4,786		2.100			6,886		600
Subfofal	12,256		2,100			14,356		18,2s2
			38,398			398 3E,398	H
Totalpayments	1					52,754	l---=-r.r1
Net ofreceipts/(payments) A5Transfersbetweenfunds A6 Cashfundslaet year end Cashfundsthisyearend	2't.538 {onnn 19,926 31.464		123.07X 10"ooo 93,049 226,122			144.6'11 112,975 257,586	I-40,r?o	l#*l