# **ALDEBURGH YACHT CLUB SCHOOL SAILING TRUST** # **REPORT AND ACCOUNTS** **17 MONTHS ENDED 31 DECEMBER 2020** **Charity Registration Number: 1184768 Company Number: CEO18432** ## **Aldeburgh Yacht Club Schools Sailing Trust** ## **Report of the Trustees for the 17 months ended 31 December 2020** ## Objectives and activities The Trust was established by the Trustees on 1 March 2019 and granted registration as a Charitable Incorporated Company by the Charity Commission on 5 August 2019. It exists to work with local schools and youth organisations in East Suffolk to provide water-based sailing experiences for local children and young adults under the age of 25 and to encourage them to develop seamanship, sailing and other watersports skills. It is also empowered to provide sailing and other water-based equipment, training and activities which develop the beneficiaries’ skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals. The Trustees work closely with the Committee and members of Aldeburgh Yacht Club in fulfilling the Trust’s objectives. As recommended the Trustees are pleased confirm that they have had regard to the guidance issued by the Charity Commission on public benefit. ## Achievements and performance 2019 was the last year we were able to run an active programme under the AYC Schools Sailing Trust. 9 classes from 8 schools took part, giving 180 young people a great sailing experience. In 2020 a lot of work had gone into creating an educational outreach programme that would run in advance of the sailing activities, so children arrive with some level of knowledge and perhaps a few less nerves. It will teach pupils about the history, geography, and the environment, including the impact of climate change on the river on which they will learn to sail. AYCSST is busy planning, 9 schools are already scheduled for June 2021. It is going to be ever more important to give children support and encouragement to make up for this challenging year of lockdowns. AYC Schools Sailing Trust is feeling confident, from guidance provided by the RYA, that schools sailing should be deliverable in 2021 as schools are now set up to manage the COVID-19 environment. The speed of the schools’ response when we made contact shows how important initiatives such as AYC Schools Sailing are going to be for children in our community. " _The day our children spent at Aldeburgh Yacht Club opened up a whole new world of experiences for the children from our school. Not only was it an amazing opportunity for them to experience something new, take them out of their comfort zone and build their confidence, it also provided them with the opportunity to have_ 1 _first class sailing tuition. They all had a fantastic day.”_ Lucie Fairweather, Head teacher, Eyke Primary School. ## Financial review The Trustees undertook an initial appeal for funding from amongst members of the Aldeburgh Yacht Club in the Spring of 2019 and were delighted with the support generated which resulted in donations received that year of nearly £20,000. It was intended that these would also benefit from Gift Aid but on technical grounds HMRC has to date disallowed the Trustees Gift Aid claim of £1,785. This decision has been appealed but pending the results of that appeal no account has been taken of the possible receipt in these accounts. Costs of £6,847 were incurred with Aldeburgh Yacht Club for the delivery of sailing experiences to some 180 children from 8 local schools in June 2019 whilst £341 was spent on lifejackets for use by attendees. All other costs including those relating to fundraising and administration were donated free of charge to the Trust by Aldeburgh Yacht Club, certain of its members and the trustees. Accordingly, at the end of its initial period of operation, the Trust had cash funds available to support its future activities of £13,642 at 31 December 2019. ## **Aldeburgh Yacht Club Schools Sailing Trust** ## **Report of the Trustees for the 17 months ended 31 December 2020** (continued) ## Financial review (continued) As discussed above the Covid 19 pandemic meant that the Trust was forced to be largely inactive in 2020 but further donations were received during 2020 and the Trust was also able to benefit from sales of Christmas wreaths made and donated free of charge to it in December 2020. 2020 donations (including gift aid received) and the wreath sales raised £3,244. Accordingly, the Trust holds free and unrestricted reserves in cash of £16,886 at its first reporting year end, 31 December 2020. These reserves will be used to support the Trust’s future activities and will be supplemented when required by future fundraisings. ## Structure, governance and management The Trust is a Charitable Incorporated Company and has adopted the Constitution recommended by the Charity Commission without substantial amendment. The Trust is managed by a Trustee board of at least 3 and not more than 6 Trustees, one of whom will normally be the Commodore for the time being of the Aldeburgh Yacht Club. The Trustees who served in the period are listed below. The Trustees are the directors and also the only members of the Trust. 2 The Trustees consider the Trust’s relationship with Aldeburgh Yacht Club to be extremely beneficial in the delivery of the Trust’s charitable objectives. They are, however, also conscious of the need to ensure that the conflicts of interest which could as a result arise between the Club and the Trust are kept under close review and managed in the Trust’s best interests. The Trustees who served during the period are Charles Manby (appointed on incorporation) Alison Moor (appointed on incorporation) Patrick Hill (appointed on incorporation and resigned on ceasing to be Commodore of AYC on 26th May 2020) John Dawson (appointed following his becoming Commodore of AYC on 26th May 2020) Susan Rixon (appointed on 20th January 2020) ## Declaration The Trust has taken advantage of the small companies’ exemption in preparing this report. The trustees declare that they have approved issue of the Report and Accounts and that this Trustee Report is also the report of the Directors. C Manby, Chair of the Trustees, 1st February 2021 3 ## **Aldeburgh Yacht Club Schools Sailing Trust** ## **Statement of financial activities including income and expenditure account for the 17 months ended 31 December 2020** ||Unrestricted| |---|---| ||funds| ||£| |Income|| |Donations|22,035| |Contributions from schools to water-based events|1,420| |Other trading activities – wreath sales|619| ||24,074| |Expenditure|6,847| |Costs of delivering water-based events|341| |Purchase of lifejackets|7,188| |Net excess of income over expenditure for the reporting period|16,886| |**Statement of Financial Position at 31 December 2020**|| ||2020| ||£| |Cash held in a Barclays Bank current account|16.886| |Represented by:|| |Unrestricted accumulated reserves|16.886| The Trust was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies and the members have not required the Trust to obtain an audit in accordance with section 476 of the Companies Act 2006. These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with the Charities SORP (FRS102). The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts. C Manby, Chair of the Trustees 1st February 2021 4 ## **Aldeburgh Yacht Club Schools Sailing Trust** ## **Notes to the financial statements for the 17 months ended 31 December 2020** ## 1. Basis of accounting These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated. The accounts have also been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and with the Charities Act 2011. The charity constitutes a public benefit entity as defined by FRS 102. ## 2. Recognition of income Income is included in the Statement of Financial Activities (SoFA) when: - the Trust becomes entitled to the income; - it is more likely than not that the income will be received; - the monetary value can be measured with sufficient reliability. ## 3. Gift Aid Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the initial donation unless the donor or the terms of the appeal have specified otherwise. ## 4. Voluntary help The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report. ## 5. Recognition of liabilities Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the Trust to pay out resources and the amount of the obligation can be measured with reasonable certainty. ## 6. Transactions with Trustees and Related Parties No payments were made to any of the Trustees in the period. Total payments made and due to Aldeburgh Yacht Club in respect of the provision of water-based experiences to the persons nominated by the Trust to receive them in the period totalled £6,847. 5