2020-12-31-accounts

Trustees		P R Davies
		M Fox	(Appointed	30April 2020)
		C RGardner	(Appointed	13January 2020)
		KJay	(Appointed	30April 2020)
		G Jenkins	(Appointed	20 November 2020)
		SR Lister
		G P Marshall
		W P Shirley
Charity	number	1183562
Principal	address	Haslar Marina
		10Haslar Road
		Gosport
		PO12 1NU
lndependentexaminer		Frances Wilde FCCA DChA
		Warner Wilde
		Chartered Certified Accountants
		4 Marigold Drive
		Bisley
		Surrey
		GU24 9SF
Bankers		Barclays Bank Pic
		Leicester
		Leicestershire
		LE872BB

		Page
Trustees' report		1-3
Independent examiner's	report
Statement offinancial activities
Balance sheet
Statement ofcash flows
Notes to the financial statements		8-20

						Unrestdicted	Unrestricted	Restricted	Total
						funds	funds	funds
						general	designated
					Notes	2020 8	2020	2020f	2020
Income and	n		men	fr m:
Donations and	legacies					900,596		588,306	1,488,902
Charitable activities						5,964	6,071		12,035
Other trading activities						21,647			21,647
Investments						7,827			7,827
Other income						29,960			29,960
Total income						965,994	6,071	588,306	1,560,371
~ECht
Raising funds					8	21,633			21,633
Charitable activities					9	240,574		57,377	297,951
Other					14	(171)			(171)
Total resources		expended				262,036		57,377	319,413
Net gains/(losses)			on investments		15	22,310			22,310
Net movement		in	funds			726,268	6,071	530,929	1,263,268
Fund balances		at 1 January		2020
Fund balances		at	31 December 2020			726,268	6,071	530,929	1,263,268

				2020
			Notes	6
Fixed assets
Tangible assets			16		551,618
Investments			17		530,979
					1,082,597
Current assets
Stocks			18	28,106
Debtors			19	23,366
Cash at bank and in		hand		151,767
				203,239
Creditors:	amounts	falling due within one year	20	(22,568)
Net current	assets				180,671
Total assets less current liabilities					1,263,268
Income funds
Restricted	funds		21		530,929
Unrestricted	funds
Designated	funds		22	6,071
General unrestricted		funds		726,268
					732,339
					1,263,268

					2020
				Notes
Cash flows from operating		activities
Cash generated from/(absorbed by) operations				25
Investing	activities
Purchase	oftangible fixed assets				(87,694)
Proceeds	on disposal oftangible fixed assets				4,500
Purchase	of investments				115
Proceeds	on disposal of investments				(171)
Interest received					7,827
Net cash	used in investing	activities
Net cash	used in financing	activities
Net increase in cash and cash equivalents
Cash and	cash equivalents	at beginning	ofyear
Cash and	cash equivalents	at end of	year

						Unrestricted	Restricted	Total
						funds	funds
						general
						2020	2020	2020
						6		6
Donations	and gifts					660,065	587,198	1,247,263
Grants receivable						33,000	1,108	34,108
Membership		fees				206,221		206,221
Donated goods and			services			1,310		1,310
						900,596	588,306	1,488,902
Donations		and gifts
Royal Naval		Sailing	Association	(unincorporated	organisation)	653,175	587,198	1,240,373
RNSA- Portsmouth			Branch			5,145		5,145
Other						1,745		1,745
						660,065	587,198	1,247,263

Grants	receivable	for core activities
Gosport	Borough	Council (Covid 19)	25,000		25,000
RNSCB			8,000		8,000
RNSCB	(SEG)			1,108	1,108
			33,000	1,108	34,108

				Operating	Dinghies	Windsurfing	Sailing	Total
				Income			Development	2020
				2020	2020	2020	2020
					0		0
Sales within charitable			activities	704	300	70	4,890	5,964
Other income						1,770	4,301	6,071
				704	300	1,840	9,191	12,035
Analysis	by fund
Unrestricted		funds - general		704	300	70	4,890	5,964
Unrestricted		funds - designated				1,770	4,301	6,071
				704	300	1,840	9,191	12,035

			Unrestricted
			funds
			general
			2020
			6
Sponsorships	and social lotteries		600
Sales ofclothing		and courses	21,047
Other trading	activities		21,647

		Unrestricted
		funds
		general
		2020
		6
Investment	income	7,643
Interest receivable		184
		7,827

Other	inc	ome
					Unrestricted
					funds
					general
					2020
Other income					27
RNSA	Moorings		recharged costs and licence fees		25,292
Insurance		commissions			3,453
Journal	advertising			income	1,188
					29,960

					Unrestricted
					funds
					general
					2020
					6
Fundraisin			and	ublici
Advertising					319
~Td	i
Other trading			activities		15,497
Investment		management			5,817
					21,633

		Operating	Dinghies	Yachting Windsurfing	Yachting Windsurfing	Sailing	Total
		Costs				Development	2020
		2020	2020	2020	2020	2020
		E		8	6	6
Staffcosts		109,524					109,524
Depreciation and
impairment		85,667					85,667
Rent		13,595					13,595
Journal costs		15,321					15,321
Telephone and	internet	1,429					1,429
Computer and	website	10,568					10,568
Utilities		1,340					1,340
Printing, postage and
stationery		4,580					4,580
SEG equipment			746	563			1,309
Events		579		173			752
Subscriptions	and
Affiliation Fees						2,700	2,700
Sailing output			1,224	206	1,996		3,426
Boat Insurance			1,720	2,758	473	3,385	8,336
Boat running costs			2,706	5,837		583	9,126
		242,603	6,396	9,537	2,469	6,668	267,673
Share ofsupport costs
(see note 11)		10,076					10,076
Share ofgovernance
costs (see note 11)		20,202					20,202
		272,881	6,396	9,537	2,469	6,668	297,951
Analysis by fund
Unrestricted funds-
general		215,504	6,396	9,537	2,469	6,668	240,574
Restricted funds		57,377					57,377
		272,881	6,396	9,537	2,469	6,668	297,951

Employment costs	2020
	6
Wages and salaries	105,373
Social security costs	4,151
	109,524

14	Other
			Unrestricted
			funds
			general
			2020
	Net profit on disposal ofinvestments		(171)
			(171)
15	Net gains/(losses)	on investments

Tangible fixe	d assets
			Dinghies	Boards	Equipment	Yachts	Total
			6	F			6
Cost
Additions			460,022	53,600	1,108	127,054	641,784
Disposals			(4,500)				(4,500)
At 31 December 2020			455,522	53,600	1,108	127,054	637,284
Depreciation	and impairment
Depreciation	charged	in the year	53,732	5,360	369	26,205	85,666
At 31 December 2020			53,732	5,360	369	26,205	85,666
Carrying amount
At 31 December 2020			401,790	48,240	739	100,849	551,618

Debtors
											2020
Amounts falling due			within one	year:							6
Trade debtors											3,657
Other debtors											10,887
Prepayments	and	accrued income									8,822
											23,366
Creditors: amounts			falling due	within	one year
											2020
											F
Other taxation	and social security										4,455
Trade creditors											1,971
Other creditors											908
Accruals and	deferred		income								15,234
											22,568
Restricted funds
The income funds		of	the charity	include	restricted	funds	comprising		the following	unexpended	balances of
donations and	grants		held on trust for specific purposes:
									Movement	in funds
							Balance at		Incoming	Resources	Balance at
						1January		2020	resources	expended	31 December
											2020
											6
RNSA (old entity)		grants							587,198	(57,008)	530,190
Sports equipment		grant (SEG)							1,108	(369)	739
									588,306	(57,377)	530,929

										Movement
										in funds
							Balance		at	Incoming	Balance at
							1January	2020		resources	31December
											2020
											6
Boat replacement				fund						4,301	4,301
Windsurfing		fund		reserve						1,770	1,770
										6,071	6,071
Analysis	ofnet		assets between funds
						Unrestricted	Designated			Restricted	Total
						funds	funds			funds
						2020		2020		2020	2020
						5			6	f	5
Fund balances at 31 December 2020					are
represented		by:
Tangible	assets					20,689				530,929	551,618
Investments						530,979					530,979
Current	assets/(liabilities)					174,600	6,071				180,671
						726,268	6,071			530,929	1,263,268
Related	party transactions
Remuneration			of key management		personnel
The remuneration				ofkey management	personnel	is as follows.
											2020
											6
Aggregat	e	comp	e	nsation							89,133

	RNSA Moorings Limited paid the following	RNSA Moorings Limited paid the following	costs to RNSA:	costs to RNSA:
	Shared Costs Recharged 8 9,015
	Moorings Licence Fee 8 5,000
	CEO time costs recharged 511,277
	RNSA was owed 55,672 from RNSA Moorings at the balance sheet date.
25	Cash generated from operations				2020
					8
	Surplus for the year				1,263,268
	Adjustments for:
	Investment income recognised in statement		offinancial	activities	(7,827)
	Non cash gift in kind				(1,096,354)
	Investment non trading income and expenditure				(1,941)
	Fair value gains and losses on investments				(22,310)
	Depreciation and impairment oftangible	fixed assets			85,667
	Movements in working capital:
	(Increase) in stocks				(524)
	Decrease in debtors				22,923
	(Decrease) in creditors				(15,712)
	Cash generated from/(absorbed by) operations				227,190
26	Analysis ofchanges in net funds/(debt)
	The charity had no debt during the year.