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|||Page|
|---|---|---|
|Report ofthe Trustees||1 to 10|
|Independent
Examiner's|Report||
|Statement ofFinancial Activities||12|
|Balance Sheet||13|
|Cash Flow Statement||14|
|Notes to the Cash Flow|Statement|15|
|NotestotheFinancialS|tatements|16to 28|
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|he last course fee increases w|ere in September 202|
|---|---|
|40-week boat building|2'78,450|
|12-week Furniture|f7,750|
|2-day short courses|$250- 6295|
|3-day short courses|$450|
|5-day short courses|f695 —2'775|
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|||fo|r the year en|ded 31August 2023||||
|---|---|---|---|---|---|---|---|
|||||||2023|2022|
|||||Unrestricted|Restricted|Total|Total|
|||||funds|funds|funds|funds|
||||Notes||||I,|
|INCOME AND ENDOWMENTS||FROM||||||
|Donations,
legacies snd|grants|||7,154|101,623|108,777|60,149|
|Other trading
activities||||698,025|1,195|699,220|739,619|
|Investment
income||||1,240|22|1,262|29|
|Total||||706,419|102,840|809,259|799,797|
|EXPENDITURE ON||||||||
|Raising funds||||367,937||367,937|346,721|
|Charitable
activities||||||||
|Charitable
activities|||7&8|376,196|26,935|403,131|466,368|
|Total||||744,133|26,935|771,068|813,089|
|NET INCOME/(EXPENDITURE)|||10|(37,714)|75,905|38,191|(13,292)|
|Net movement
in funds||||(37,714)|75,905|38,191|(13,292)|
|RECONCILIATION|OF FUNDS|||||||
|Total funds brought forward||||(4,107)|25,418|21,311|34,603|
|TOTAL FUNDS CARRIED FORWARD|||21|(41,821)|101,323|59,502|21,311|
##
||||Balance|Sheet||||
|---|---|---|---|---|---|---|---|
||||31August|2023||||
||||Notes|||2023|2022|
|||||Unrestricted|Restricted|Total|Total|
|||||funds|funds|funds|funds|
|FIXEDASSETS|||||||f|
|Tangible|assets||14|56,757||56,757|63,218|
|CURRENT ASSETS||||||||
|Stocks|||15|39,171||39,171|42,649|
|Debtors|||16|77,351|1,028|78,379|38,815|
|Cash at bank||||395,280|100,295|495,575|532,064|
|||||511,802|101,323|613,125|613,528|
|CREDITORS||||||||
|Amounts|falling due within|one year|17|(486,488)||(486,488)|(495,076)|
|NET CURRENT ASSETS||||25,314|101,323|126,637|118,452|
|TOTAL|ASSETSLESSCURRENT LIABILITIES|||82,071|101,323|183,394|181,670|
|CREDITORS||||||||
|Amounts|falling due after more than one year||18|(123,892)||(123,892)|(160,359)|
|NET (LIABILITIES) / ASSETS||||(41,821)|101,323|59,502|21,311|
|FUNDS|||21|||||
|Unrestricted
funds||||(41,821)||(41,821)|(4,107)|
|Restricted|funds||||101,323|101,323|25,418|
|TOTAL|FUNDS|||(41,821)|101,323|59,502|21,311|
||||||Bo|at Building Academy Lim|at Building Academy Lim|at Building Academy Lim|ited|||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||Cash Flow Statement||||||
||||||for|the year|ended 31August||2023|||
|||||||||||2023|2022|
||||||||||Note|f||
|Cash flows from|operating||activities|||||||||
|Net cash generated|by operating
activities|||||||||4,876|179,055|
|Cash flows from|investing||activities|||||||||
|Purchase oftangible fixed assets||||||||||(5,960)|(22,811)|
|Interest received||||||||||1,262|29|
|Net cash used in investing||activities||||||||(4,698)|(22,782)|
|Cash flows from|financing||activities|||||||||
|Loan repayments|in year|||||||||(36,667)|(36,667)|
|Net cash (used in)|financing||activities|||||||(36,667)|(36,667)|
|Change in cash and cash equivalents||||in|the|reporting|period|||(36,489)|119,606|
|Cash and cash equivalents|||at the beginning|||ofthe reporting||period||532,064|412,458|
|Cash and cash equivalents|||at the end|of|the|reporting|period|||495,575|532,064|
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||||2023|2022|
|---|---|---|---|---|
|Net income/(expenditure)|for the reporting|period (as per the Statement of|||
|Financial Activities)|||38,191|(13,292)|
|Adjustments
for:|||||
|Depreciation
charges|||12,421|11,101|
|Interest received|||(1,262)|(29)|
|Decrease/(Increase)|in stocks||3,478|(9,172)|
|(Increase)
in debtors|||(39,564)|(12,758)|
|(Decrease)/Increase|in creditors||(8,388)|203,205|
|Net cash generated|by operations||4,876|179,055|
##
|ANALYSIS OF CHA|NGES IN NET FUNDS||||
|---|---|---|---|---|
|||At||At|
|||I September||31August|
|||2022|Cash Outflow|2023|
|||||2|
|Net cash|||||
|Cash at Bank||532,064|(36,489)|495,575|
|||532,064|(36,489)|495,575|
|Debt|||||
|Debts falling due within
Debts falling due after|1 year
1 year|(36,667)
~143617|36667|(36,667)
~766944|
|Total debt||(180,278)|36,667|(143,611)|
|Total net cash||351,786|178|351,964|
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|DONATIONS) LE|GACI|E|S AND GRAN|TS||||
|---|---|---|---|---|---|---|---|
|||||||2023|2022|
|Donations||||||47,976|14,027|
|Grants||||||60,801|46,122|
|||||||108,777|60,149|
|Grants received, included|||in the above, are as follows:|||2023|2022|
|Alternative
Fuel Payment|||Scheme - Grant|||300||
|Energy Bill Relief|Scheme|||||551||
|SWIRE Charitable|Trust|-|Bursaries|||17,500||
|Dorset Council|||||||40,000|
|The Alice Ellen Cooper Dean Charitable||||Foundation|- Bursaries|10,000||
|The Valentine
Charitable||Trust - Bursaries||||10,000||
|Government
CBILS loan||interest grant||||4,500|5,410|
|The Headley Trust|- Bursaries|||||17,950||
|Coronavirus
HMRC Furlough
Grant|||||||712|
|||||||60,801|46,122|
|OTHER TRADING ACTIVITIES||||||||
|||||||2023|2022|
|Course income||||||503,358|495,361|
|Materials||||||36,572|36,670|
|Woodworking
skills||||||61,850|118,108|
|Wood||||||47,778|45,770|
|Accommodation||||||40,261|37,622|
|Washing
machine|money|||||1,298|943|
|Miscellaneous||||||8,103|5,145|
|||||||699,220|739,619|
##
||||||||Boat Building Academy|Boat Building Academy|Limited|Limited||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||Notes to the Financial Statements||||- continued||||||
||||||||for the year ended 31 August 2023|||||||||
|5.|INVESTMENT INCOME|||||||||||||||
|||||||||||||||2023|2022|
||Interest receivable||—trading|||||||||||1,262|29|
|6.|RAISING FUNDS|||||||||||||||
||Other trading|activities||||||||||||||
|||||||||||||||2023|2022|
||Opening stock|||||||||||||42,649|33,477|
||Closing stock|||||||||||||(39,171)|(42,649)|
||Staff costs|||||||||||||351,654|343,898|
||Bad debts|||||||||||||384|894|
||Depreciation|||||||||||||12,421|11,101|
|||||||||||||||367,937|346,721|
||Staff costs includes|nothing||funded||by the Government||Furlough|Scheme (2022|||-|f712).|||
|7.|CHARITABLE ACTIVITIES|||||COSTS||||||||||
|||||||||||||Grant||||
|||||||||||||funding||Support||
||||||||||Direct||of|activities||Costs||
||||||||||CostsI||(see||note 8)|(Seenote 9)|Total|
||Charitable
activities||||||||332,290||||26,935|43,906|403,131|
||Charitable
activity costs for the||||year||ended 31 August|2022 totalled||f466,368.||||||
||GRANTS PAYABLE AND RESTRICTED FUNDRAISING||||||||COSTS|||||||
|||||||||||||||2023|2022|
||Charitable
activities||—bursary||grants to individuals|||from restricted||funds||||26,848|28,572|
||Charitable
activities||—bursary||grants to individuals|||from designated||funds|||||14,751|
||Charity event costs|||||||||||||||
|||||||||||||||26,935|43,323|
##
##
|||Management|Finance|Information|Human|Totals|
|---|---|---|---|---|---|---|
|||||technology|Resources||
||||8|8|||
|Charitable|activities|23,865|16,020|3,267|754|43,906|
##
||||2023|2022|
|---|---|---|---|---|
|||||8|
|Depreciation|-owned|assets|12,421|11,101|
|Independent|examination||2,580|2,280|
|Accounts preparation||fees|||
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|STAFF COS|TS|||||||
|---|---|---|---|---|---|---|---|
|||||||2023|2022|
|Wages and salaries||||||321,145|310,463|
|Social security||||||23,916|26,666|
|Other pension|costs|||||6,593|6,769|
|||||||351,654|343,898|
|The average monthly||number ofemployees||during|the year was as follows:|||
|||||||2023|2022|
|||||||No.|No.|
|Head count||||||13|13|
|No employees|received emoluments||in excess of860,000(2022 —Nil).|||||
##
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|INCOME AND ENDOWMENTS|INCOME AND ENDOWMENTS|FROM|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
|Donations
and legacies|||5,497|54,652|60,149|
|Other trading
activities|||739,619||739,619|
|Investment
income|||29||29|
|Total|||745,145|54,652|799,797|
|EXPENDITURE ON||||||
|Raising funds|||346,009|712|346,721|
|Charitable
activities||||||
|Charitable
activities|||437,796|28,572|466,368|
|Total|||783,805|29,284|813,089|
|NET INCOME/ (EXPENDITURE)|||(38,660)|25,368|(13,292)|
|Net movement
in funds|||(38,660)|25,368|(13,292)|
|RECONCILIATION|OF FUNDS|||||
|Total funds brought|forward||34,553|50|34,603|
|TOTAL FUNDS CARRIED FORWARD|||(4,107)|25,418|21,311|
##
##
||||Improvements|Improvements|Plant|Fixtures||
|---|---|---|---|---|---|---|---|
||||to||and|and||
|||COST|property||machinery|fittings|Totals|
||At|1 September 2022|67,136||22,726|408|90,270|
||Additions||||5,960||5,960|
||At|31August 2023|67,136||28,686|408|96,230|
|||DEPRECIATION||||||
||At|1 September 2022|11,906||14,738|408|27,052|
||Charge for year|||6,714|5,707||12,421|
||At|31 August 2023|18,620||20,445|408|39,473|
|||NET BOOK VALUE||||||
||At|31 August 2023|II 516||~8241||56,757|
||At|31 August 2022|55,230||7,988||63,218|
|15.|STOCKS|||||||
|||||||2023|2022|
||||||||8|
||Raw materials —wood and materials|||||35,931|42,649|
||Work in Progress|||||3,240||
|||||||39,171|42,649|
|16.|DEBTORS:AMOUNTS FALLING DUE WITHIN|||ONE YEAR||||
|||||||2023|2022|
||Service charges due|||||59,284|26,080|
||Prepayments|||||19,095|12,735|
|||||||78,379|38,815|
##
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|||||2023|2022|
|---|---|---|---|---|---|
|Bank loans and|overdrafts||(see note 19)|36,667|36,667|
|Trade creditors||||8,292|21,683|
|Social security|and other||taxes|5,794|6,689|
|Other creditors||||8,780|7,722|
|Service charges|paid|in arrears||20,615|34,835|
|Accruals and deferred||income||406,340|387,480|
|||||486,488|495,076|
|Deferred|income brought|forward|387,480|
|---|---|---|---|
|New invoices raised|||581,825|
|Amounts|released||(562,817)|
|Deferred|income carried|forward|406,488|
##
|CREDIT|ORS: AMOUNTS FALLING DUE AFTER MOR|E THAN ONE YEAR||
|---|---|---|---|
|||2023|2022|
||||6|
|Bank loans (see note 19)||106,944|143,611|
|Accruals|and deferred income|16,948|16,748|
|||123,892|160,359|
##
##
|An analysis|ofthe maturity|of loans is given below:|2023|2022|
|---|---|---|---|---|
||||g||
|Amounts
falling due within
Bank loans||one year on demand:|~36 667|~36 667|
|Amounts
falling due between two and 5 years:|||||
|Bank loans|—2-5 years||106,944|143,611|
|Amounts
falling due in more than five years:|||||
|Repayable|by instalments:||||
|Bank loans|due in more than|5 years by instalments|||
||||106,944|143,611|
##
|Minimum
lease payments
under non-cancellable
operating
lease|s fall due as follows:||
|---|---|---|
||2023|2022|
|Within one year|61,000|66,000|
|Between one and five years|163,250|224,250|
||224,250|290,250|
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|||At|Net|Transfer|At|
|---|---|---|---|---|---|
|||1September|movements|between|31August|
|||2022|in funds|funds|2023|
|General|fund|(13,303)|(37,714)|9,196|(41,821)|
|Bursary|(Designated)|9,196||(9,196)||
|||(4,107)|(37,714)||(41,821)|
|Restricted funds||||||
|Bursary||25,418|75,905||101,323|
|TOTAL|FUNDS|21,311|38,191||59,502|
##
|||Incoming|Resources|Movement|
|---|---|---|---|---|
|||resources|expended|in funds|
|General|fund|706,419|(744,133)|(37,714)|
|Bursary|(Designated)||||
|||706,419|(744,133)|(37,714)|
|Restricted funds|||||
|Bursary||102,840|(26,935)|75,905|
|TOTAL|FUNDS|809,259|(771,068)|38,191|
##
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|Unrestric|ted
funds|||||
|---|---|---|---|---|---|
|||At I|Net|Transfers|At 31|
|||September|movements|between|August|
|||2021|in funds|funds|2022|
|General
Bursary|fund
(Designated)|10,693
23,860|(23,996)
~34.644||(13,303)
9 196|
|||34553|38,660||4,107|
|Restricted
funds||||||
|Bursary||50|25,368||25,418|
|TOTAL|FUNDS|34,603|(13,292)||21,311|
##
|Unrestrict|ed
funds||||
|---|---|---|---|---|
|||Incoming|Resources|Movement|
|||resources|expended|in funds|
|General
Bursary|fund
(Designated)|745,058
87|(769,054)
~34 751|(23,996)
~54.664|
|||745,145|(783,805)|(38,660)|
|Restricted funds|||||
|Bursary||54,652|(29,284)|25,368|
|TOTAL|FUNDS|799,797|(813,089)|13,292|
##
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||||At 1|Net|Transfers|At|
|---|---|---|---|---|---|---|
||||September|movement|between|31August|
||||2021|in funds|funds|2023|
|Unrestricted||funds|||||
|General|fund||10,693|(61,710)|9,196|(41,821)|
|Bursary|(Designated)||23,860|(14,664)|(9,196)||
||||34,553|(76,374)||(41,821)|
|Restricted funds|||||||
|Bursary|||50|101,273||101,323|
||||50|101,273||101,323|
|TOTAL|FUNDS||34,603|24,899||59,502|
##
|Unrestric|t|ed
funds||||
|---|---|---|---|---|---|
||||Incoming|Resources|Movement|
||||Resources|expended|in funds|
|General|fund||1,451,477|(1,513,187)|(61,710)|
|Bursary|(Designated)||87|(14,751)|(14,664)|
||||1,451,564|(1,527,938)|(76,374)|
|Restricted||funds||||
|Bursary|||157,492|(56,219)|101,273|
||||157,492|(56,219)|101,273|
|TOTAL||FUNDS|1,609,056|(1,584,157)|24,899|
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