||||Page||
|---|---|---|---|---|
|Report ofthe Trustees||1|to|6|
|Independent
Examiner's|Report||||
|Statemeat ofFinancial|Activities||||
|Balance Sheet||9|to|10|
|Cash Flow Statement|||||
|Notes to the Cash Flow|Statement||12||
|Notes to the Finaacial Statements||13|to|22|
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|The last course fee increases|The last course fee increases|were in )anuar|y
and February 2|
|---|---|---|---|
|40-week boat building|||f15,850|
|12-week Furniture|||g5,850|
|12-week Advanced|Furniture|Making|g5,950|
|2-day short courses
5-day short courses|||f275
f675 - f950|
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|||||||2021|2020|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
|||||funds|funds|funds|funds|
||||Notes|||f.||
|INCOME AND ENDOWMENTS||FROM||||||
|Donations
and legacies|||3|107,062|70,456|177,518|126,171|
|Other trading
activities|||4|538,585||538,585|545,970|
|investment
income|||5|396||396|1,153|
|Tots I||||646,043|70,456|716,499|673,294|
|EXPENDITURE ON||||||||
|Raising funds|||6|436,874||436,874|415,308|
|Charitable
activities||||||||
|Charitable
activities||||296,138|41,369|337,507|280,308|
|Total||||733,012|41,369|774,381|695,616|
|NET INCOME/(EXPENDITURE)||||(86,969)|29,087|(57,882)|(22,322)|
|Transfem
between
funds|||21|39,037|(39,037)|||
|Net movement
in fuods||||(47,932)|(9,950)|(57,882)|(22,322)|
|RECONCILIATION|OF FUNDS|||||||
|Total funds brought|forward|||82,485|10,000|92,485|114,807|
|TOTAL FUNDS CARRIED FORWARD||||34,553|50|34,603|92,485|
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|||||2021|2020|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
|||funds|funds|funds|funds|
||Notes||f,||f,|
|FIXEDASSETS||||||
|Tangible assets|14|51,508||51,508|4,230|
|CURRENT ASSETS||||||
|Stocks|15|33,477||33,477|36,821|
|Debtors|16|26,057||26,057|38,385|
|Cash at bank||412,408|50|412,458|278,807|
|||471,942|50|471,992|354,013|
|CREDITORS||||||
|Amounts
falling due within one year|17|(281,169)||(281,169)|(265,758)|
|NET CURRENT ASSETS||190,773|50|190,823|88,255|
|TOTAL ASSETSLESSCURRENT||||||
|LIABILITIES||242,281|50|242,331|92,485|
|CREDITORS||||||
|Amounts
falling due afier more than one year|18|(207,728)||(207,728)||
|NET ASSETS||34,553|50|34,603|92,485|
|FUNDS|21|||||
|Unrestricted
funds||||34 553|82,485|
|Restricted funds||||50|10,000|
|TOTAL FUNDS||||34,603|92,485|
|||Boat B|uilding Academy
Limit|ed||
|---|---|---|---|---|---|
||||Cash Flow Statement|||
|||for the|Year Ended 31August|2021||
|||||2021|2020|
|||Notes||f,|f.|
|Cash flows from operating
activities
Cash generated
from operations||||(27,082)|(239,767)|
|Net cash used in operating
activities||||(27,082)|(239,767)|
|Cash flows from iavesting
activities
Purchase oftangible fixed assets
Interest received||||(56,608)
396|(1,838)
1,153|
|Net cash used in investing
activities||||(56,212)|(685)|
|Cash flows from financing|activities|||||
|New loans in year||||220,000||
|Loan repayments
in year||||(3,055)||
|Net cash provided
by financing
activities||||216,945||
|Change
in cash and cash
the reporting
period|equivalents|in||133,651|(240,452)|
|Cash and cash equivaleats
beginning
oftbe reporting|at the
period|||278,807|519,259|
|Cash and cash equivalents|at the end|of||||
|the reporting
period||||412,458|278,807|
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|ACTIVITIES|||||||
|---|---|---|---|---|---|---|
||||||2021|2020f|
|Net expenditure|for the reporting|||period (as per the Statement of|||
|Financial Activities)|||||(57,882)|(22,322)|
|Adjustments
for:
Depreciation
charges|||||9,330|3,739|
|Interest received|||||(396)|(1,153)|
|Decrease in stocks|||||3,344|4,984|
|Decrease/(increase)||in debtors|||12,328|(18,910)|
|Increase/(decrease)||in creditors|||6,194|(206,105)|
|Net cash used in|operations||||(27,082)|(239,767)|
|ANALYSIS OF|CHANGES IN NET FUNDS||||||
|||||At 1.9.20|Cash flow|At 31.8.21|
|Net cash|||||||
|Cash at bank||||278,807|133,651|412,458|
|||||278,807|133,651|412,458|
|Debt|||||||
|Debts falling due||within|I year||(36,667)|(36,667)|
|Debts falling due||afler|1 year||(180,278)|(180,278)|
||||||(216,945)|(216,945)|
|Total||||278,807|(83,294)|195,513|
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|DONATIONS
AND LE|GACIES||||
|---|---|---|---|---|
||||2021|2020|
|Donations|||35,316|16,192|
|Legacies
Grants|||15,000
127,202|8,000
101,979|
||||177,518|126,171|
|Grants received,
included|in the above, are as follows:||||
||||2021|2020|
|lob Retention
Scheme|||87,623|94,479|
|Shipwright
—WCS Grant|||5,000||
|Garfield Weston Foundation|||5,000||
|Dorset Council|||14,143|7,500|
|Dorset Growth Hub|||5,000||
|The Foyle Foundation
Coronavirus
Business Interruption||Loan Scheme|10,000
436||
||||127,202|101,979|
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|4.|OTHER TRA|DIN|G ACTIVITIES|||||
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
||Course income|||||369,787|374,788|
||Materials|||||25,511|23,935|
||Woodworking
Wood|skills||||94,288
22,104|87,908
23,076|
||Accommodation|||||20,533|32,098|
||Washing
machine
Miscellaneous||money|||6,362|791
3,374|
|||||||538,585|545,970|
|5.|INVESTMENT||INCOME|||||
|||||||2021|2020|
||Interest receivable||- trading|||396|1,]53|
||RAISING FUNDS|||||||
||Other trading|activities||||2021|2020|
||Opening
stock
Closing stock
Staff costs|||||36,821
(33,477)
424,123|41,805
(36,821)
405,550|
||Bad debts|||||77|1,035|
||Depreciation|||||9,330|3,739|
|||||||436,874|415,308|
|7.|CHARITABLE||ACTIVITIES COSTS|||||
||||||Grant|||
||||||funding of|||
||||||activities|Support||
|||||Direct|(see note|costs (see||
|||||Costs|8)|note 9)|Totals|
||Charitable
activities|||280,902|18,000|38,605|337,507|
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|8.|GRANTS|PAYABLE||||||
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
||Charitable|activities||||18,000||
||The total|grants paid to individuals|during the year was as follows:|||2021|2020|
||Bursary grants|||||18,000||
|9.|SUPPORT COSTS|||||||
||||||Information|Human||
||||Management|Finance|technology|resources|Totals|
||Charitable|activities|32,957|1,459|3,753|436|38,605|
##
|Net income/(|expenditur|e)
is stated slier charging/(crediting)|:||
|---|---|---|---|---|
||||2021|2020|
||||6||
|Depreciation - owned assets
Independent
examination
Accounts preparation
fees|||9,330
2,040
540|3,739
1,980
540|
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|STAFFCOSTS|||||
|---|---|---|---|---|
||||2021|2020|
|Wages and salaries
Social security costs
Other pension costs|||388,648
28,457
7,018|368,298
29,822
7,430|
||||424,123|405,550|
|The avenge
monthly|number ofemployees|during the year was as follows:|||
||||2021|2020|
|Head count|||13|14|
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|No employees
received|emoluments|in excess off60,000.||||
|---|---|---|---|---|---|
|COMPARATIVKS FORTHE STATEMENT OF FINANCIAL|||ACTIVITIES|||
||||Unrestricted|Restricted|Total|
||||funds|funds|funds|
|INCOME AND ENDOWMENTS||FROM||||
|Donations
and legacies|||111,171|15,000|126,171|
|Other trading
activities|||545,970||545,970|
|Investment
income|||1,153||1,153|
|Total|||658,294|15,000|673,294|
|EXPENDITURE ON||||||
|Raising funds|||415,308||415,308|
|Charitable
activities||||||
|Charitable
activities|||275,142|5,166|280,308|
|Total|||690,450|5,166|695,616|
|NKT INCOME/(EXPENDITURE)|||(32,156)|9,834|(22,322)|
|Transfem
between
funds|||(166)|166||
|Net movement
in funds|||(32,322)|10,000|(22,322)|
|RECONCILIATION|OF FUNDS|||||
|Total funds brought|fonvard||114,807||114,807|
|TOTAL FUNDS CARRIED FORWARD|||82,485|10,000|92,485|
|14.|TANGIBLE FIXEDASSETS||||||
|---|---|---|---|---|---|---|
||||Improvements||Fixtures||
|||Freehold|to|Plant and|and||
|||property|property|machinery|fittings|Totals|
||||8||||
||COST||||||
||At
1 September 2020|10,912||74,249|408|85,569|
||Additions||51,928|4,680||56,608|
||Disposals|(10,912)||(63,806)||(74,718)|
||At 31 August 2021||51,928|15,123|408|67,459|
||DEPRECIATION||||||
||At I September 2020|10,912||70,291|136|81,339|
||Charge for year
Eliminated
on disposal|(10,912)|5, 193|4,001
(63,806)|136|9,330
(74,718)|
||At 31 August 2021||5,193|10,486|272|15,951|
||NET BOOK VALUE||||||
||At 31 August 2021||46,735|4,637|136|51,508|
||At 31 August 2020|||3,958|272|4,230|
|15.|STOCKS||||||
||||||2021|2020|
||Stocks||||33,477|36,821|
|16.|DEBTORS:AMOUNTS FALLING DUE||WITHIN ONE|YEAR|||
||||||2021|2020|
||Service charges due
Other debtors||||13,914
5,079|12,736
18,307|
||Prepayments||||7,064|7,342|
||||||26,057|38,385|
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||||2021|2020|
|---|---|---|---|---|
|Bank loans and overdrafls||(see note 19)|36,667||
|Trade creditors|||14,680|6,408|
|Social security and other||taxes|8,306|8,559|
|Other creditors|||6,312|7,030|
|Service charges paid|in arrears||63,935|51,909|
|Accruals and deferred|income||151,269|191,852|
||||281,169|265,758|
||Deferred income b/f|||188,680|
|---|---|---|---|---|
||New invoices raised|||273,735|
||Amounts
released|||(325,153)|
||Defened
income c/f|||137,262|
|18.|CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONK YEAR||||
||||2021|2020|
|||||f,|
||Bank loans (see note 19)||180,278||
||Accruals and deferred|income|27,450||
||||207,728||
|19.|LOANS||||
||An analysis ofthe maturity ofloans is given below:||||
||||2021|2020|
||Amounts
falling due within one year on demand:||||
||Bank loans||36,667||
||Amounts
falling due between two and 5 years:||||
||Bank loans -2-5 years||146,667||
||Amounts
falling due in|more than five years:|||
||Repayable
by instalhnents:
Bank loans due in more than 5 yr by installments||33,611||
||||180,278||
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||2021|2020|
|---|---|---|
|Within one year|66,000|66,000|
|Between one and five years|230,750|200,500|
|In more than five years|59,500||
||356,250|266,500|
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|MOVEM|ENT|IN FUNDS|||||
|---|---|---|---|---|---|---|
|||||Net|Transfers||
|||||movement|between|At|
||||At 1.9.20|in funds|funds|31.8.21|
|Unrestricted||funds|||||
|General|fund||62,485|(90,829)|39,037|10,693|
|Bursary|(Designated)||20,000|3,860||23,860|
||||82,485|(86,969)|39,037|34,553|
|Restricted
funds|||||||
|Bursary|||10,000|(17,950)|8,000|50|
|Covid-19 Building Works||||47,037|(47,037)||
||||10,000|29,087|(39,037)|50|
|TOTAL|FUNDS||92,485|(57,882)||34,603|
|Net movement||in funds, included|in the above are as follows:||||
|||||Incoming|Resources|Movement|
|||||resources|expended|in funds|
|Unrestricted||funds|||||
|General|fund|||642,183|(733,012)|(90,829)|
|Bursary|(Designated)|||3,860||3,860|
|||||646,043|(733,012)|(86,969)|
|Restricted
funds|||||||
|Bursary||||50|(18,000)|(17,950)|
|Covid-19 Building Works||||70,406|(23,369)|47,037|
|||||70,456|(41,369)|29,087|
|TOTAL FUNDS||||716,499|(774,381)|(57,882)|
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|Compara|t|ive||s
for moveme|nt
in funds|||||
|---|---|---|---|---|---|---|---|---|---|
||||||||Net|Transfers||
||||||||movement|between|At|
|||||||At 1.9.19|in funds|funds|31.8.20|
|||||||||g||
|Unrestricted||||funds||||||
|General|fund|||||114,807|(32,156)|(20,166)|62,485|
|Bursary|(Designated)|||||||20,000|20,000|
|||||||114,807|(32,156)|(166)|82,485|
|Restricted|||funds|||||||
|Computer|||||||(166)|166||
|Bursary|||||||10,000||10,000|
||||||||9,834|166|10,000|
|TOTAL||FUNDS||||114,807|(22,322)||92,485|
|Comparative||||net movement|in funds, included|in the above are as follows:||||
||||||||Incoming|Resources|Movement|
||||||||resources|expended|in funds|
|Unrestricted||||funds||||||
|General||fund|||||658,294|(690,450)|(32,156)|
|Restricted||||funds||||||
|Computer|||||||5,000|(5,166)|(166)|
|Bursary|||||||10,000||10,000|
||||||||15,000|(5,166)|9,834|
|TOTAL||FUNDS|||||673,294|(695,616)|(22,322)|
|||||Net|Transfers||
|---|---|---|---|---|---|---|
|||||movement|between|At|
||||At 1.9.19|in funds|funds|31.8.21|
||||f,||||
|Unrestricted||funds|||||
|General|fund||114,807|(122,985)|18,871|10,693|
|Bursary|(Designated)|||3,860|20,000|23,860|
||||114,807|(119,125)|38,871|34,553|
|Restricted||funds|||||
|Computer||||(166)|166||
|But sary||||(7,950)|8,000|50|
|Covid-19 Building Works||||47,037|(47,037)||
|||||38,921|(38,871)|50|
|TOTALFUNDS|||114,807|(80,204)||34,603|
##
||||Incoming|Resources|Movement|
|---|---|---|---|---|---|
||||resources|expended|in funds|
|Unrestricted||funds||||
|General|fund||1,300,477|(1,423,462)|(122,985)|
|Bursary|(Designated)||3,860||3,860|
||||1,304,337|(1,423,462)|(119,125)|
|Restricted funds||||||
|Computer|||5,000|(5,166)|(166)|
|Bursary|||10,050|(18,000)|(7,950)|
|Covid-19 Building Works|||70,406|(23,369)|47,037|
||||85,456|(46,535)|38,921|
|TOTAL|FUNDS||1,389,793|(1,469,997)|(80,204)|
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