Cider House, Allowenshay Hinton St. George Somerset, TA17 8TB + 44 (0) 7500 332060 ## _**TRUSTEE FINANCIAL STATEMENT**_ ## _**18[th] May 2022**_ When the charity was formed in August 2020, the finances were set up such that some items were gifted by trustees and did not appear in the annual accounts. This has now been changed. However, for the purposes of transparency, clarity and propriety the outgoing monies for that initial period have been laid out below to serve as a supplementary explanation alongside the formal Charity Commission accounts. This financial summary was agreed as fair and accurate by the trustees on 18.05.2022 |**Charity set up**|**£660**| |---|---| |Labour|£32,000| |Pitot system|£900| |Fabric, Dopes, & Glue.|£1,500| |**Wing build**|**£34,400**| |**Metallic parts**|**£4,475**| |Compression struts, wing joiners, hinges, & control system.|| |**Timber**|**£10,457**| |Spruce, Douglas Fir, and ply.|| |**Drawings**|**£12,000**| |55 years old drawings from 1977, redrawn for compliance.|| ||**_______**| |**Total**|**£61,992**| |**_Trustees’ signatures_**|| |**_Will Hosie_**|**_Paul Myers_**| www.SupermarineSeaplane.co.uk info@SupermarineSeaplane.co.uk charity number 1190836 Registered number.. CE023555 SUPERMARINE SEAPLANE DIRECTORS, REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 12 JULY 2020 TO 31 AUGUST 2021 r KARA accountants Kara Aecounlanls Limited Chartered Institute of Management Accountants CIO Kara Accounlanls Limited The Square Fawley Southampton S045 1DD Supemi*•Je seaplane Dlrectors, Report and Unaudited Financial Ststements For the Period 12 Juty 2020 to 31 August 2021 Contents Pago Company Information Directors, Report Accountsnls, Report Profit and Loss Account Balance Sheet Notes lo the Financial Statements The following pages do not form part of the statutory accounts.. Trading Profit and Loss Account Supemiarine Seaplane Company Infomiation For the Period 12 Juty 2020 to 31 August 2021 Oirectors Mr Laim Bennett Mr William Hosie Mr Paul Myers Mr lan Wood Company Number CE023555 Accountsnts Kara Accountants Limited Chartered Institute of Management Accountants CIO Kara Accounlanls Limited The Square Fawley Soulhamplon S045 1DD Page 1 Supemiarine Seaplane Company No. CE023555 Directors. Report For the Period 12 July 2020 to 31 August 2021 The directors present their report and the financial statements for the peri(xl ended 31 August 2021. statement of Directors, Responsibilities The directors are responsible for preparing the D1￿ClOrS, Report and the financial statements in accordan￿ with applicable law and regulations. Company law requires the d1￿ClorS to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally AC￿pIed Accounting Practice (United Kingdom Accounting Standards and applicable lawl. Under company law the directors musl not approve the financial statements unless they are satisfied that they give a true and fair view of the stale of affairs of the company and of the profil or loss of the company for that period. In preparing the financial statements the directors are required lo.. select suitable accounting policies and then apply them Consistent￿., make judgments and accounting eslimales that are reasonable and prudent.. prepare the financial statements on the going COn￿M basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate aceounling records that are sufficient lo show and explain the company's transactions and disclose with reasonable accuracy al any lime the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Directors The directors who held office during the period were as follows.. Mr Laim Bennett Mr William Hosie Mr Paul Myers Mr lan Vvood APPOINTED 1210712020 APPOINTED 1210712020 APPOINTED 1210712020 APPOINTED 1210712020 Small Company Rules This ￿port has been prepared in accordance with the special provisions ￿lating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. On behalf of the board Mr William Hosie Director Date Page 2 Supemiarine Seaplane Accountants, Report For the Period 12 Juty 2020 to 31 August 2021 In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us. This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken lo prepare for approval by the directors the financial statements that we have been engaged to compile, lo report lo the directors that we have done so, and to stale those matters that we have agreed to stale to them in this report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report. You have acknowledged on the balance sheet as al period ended 31 August 2021 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory reqU1￿ment for an audit for the year. We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the acwunting records or information and explanations you have given to us and we do not, therefore, express any opinion on the fi'nancial statements. Signed Date Kara Accountants Limited Chartered Institute of Management Aecountanls CIO Kara Accountants Limited The Square Fawley Southampton S045 1DD Page 3 Supemiarine Seaplane Profit and Loss Account For the Period 12 Juty 2020 to 31 August 2021 31 August 2021 Notes TURNOVER 6,867 127,8971 Cost of sales GROSS LOSS 121,0301 Administrative expenses 12,2361 OPERATING LOSS AND LOSS FOR THE FINANCIAL PERIOD 123,2661 The notes on page 6 fomi part of these financial statements. Page 4 Supemiarine Seaplane Balance Sheet As at 31 August 2021 31 August 2021 Notes CURRENT ASSETS Cash al bank and in hand 1,051 1,051 Creditors: Amounts Falling Due Within One Year 124,317} NET CURRENT ASSETS {LIABILITIES} 123,2661 TOTAL ASSETS LESS CURRENT LIABILITIES 123,2661 NET LIABILITIES 123,2661 Profit and Loss Account 123,2661 SHAREHOLDERS, FUNDS 123,2661 For the period ending 31 August 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating lo small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject lo the small companies, regime. On behalf of the board Mr William Hosie Director Date The notes on page 6 form part of these financial ststemenls. Page 5 Supemiarine Seaplane Notes to the Financial Statements For the Period 12 Juty 2020 to 31 August 2021 1. Accounting Policies 1.1. Basis of Preparation of Financial Statements The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Enlilies- The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. 1.2. Turnovor Tumover is measured at the fair value of the consideration received or receivable, nel of discounts and value added taxes. Tumover includes revenue eamed from the sale of goods and from the rendering of servI￿s. Tumover is reduced for eslimaled customer returns, rebates and other similar allowances. Sale of goods Tumover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred lo the buyer. This is usually at the point that the customer has signed for the delivery of the goods. Rendering of services Tumover from the rendering of services is recognised by referen￿ lo the stage of completion of the contract The stage of completion of a contract is measured by comparing the costs incurred for work performed lo dale lo the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably. 2. Average Number of Employees Average number of employees, including directors, during the year was as follows.. NIL 3. Credltors: Amounts Falllng Due Wlthln One Year 31 August 2021 Accruals and deferred income Directors, loan accounts 1,000 23,317 24,317 4. General Information Supermarine Seaplane is a private company, limited by shares, incorporated in England & Wales, registered number CE023555. The registered Offi￿ is. Page 6 Supemiarine Seaplane Trading Profit and Loss Account For the Period 12 Juty 2020 to 31 August 2021 31 August 2021 TURNOVER Sales of Merchandise Donations received 885 5,982 6,867 COST OF SALES Purchases Other direct costs 27,S17 380 127,8971 GROSS LOSS 121,0301 Administrative Expenses Printing, postage and ststionery Advertising and marketing costs Website costs 130 300 Accountancy fees Legal fees 1,106 695 12,2361 OPERATING LOSS AND LOSS FOR THE FINANCIAL PERIOD 123,2661 Page 7