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