Ocean Cruising Club Charitable Trust Chairman’s Report for 2025
Following the retirement of David Wilkie from Chair of the Trust I was happy to take on some of the responsibilities, but I stress that in practice Helen has dealt with the
majority of matters arising. Tim Buckley, stepped up into David’s Treasury shoes and has been the Treasurer through 2025 until his resignation in December 2025. Our on-line meetings have sometimes been quite searching as we have discussed the future potential of the Trust.
We have been pleased to make Donations to the Craignish Boat Club and the Savsavu Sailing Club, Fiji. Both are sailing organisations enabling young people to get out sailing.
The year has been disappointing in that there appears to have been little interest in donations to the Trust. However, the Trust has received funding from the Ocean Cruising Club to administer the Youth Sponsorship Scheme. Regrettably, it would appear that lack of Tax advantages and other potential costs hinder the attraction of the UK Trust to American members.
As the year came to an end it emerged that affordable insurance was no longer available to protect Trustees against US litigants. This vulnerability forced the resignation of Tim Buckley as both Trustee and Treasurer. Tim’s Treasury role has been taken on by Richard Kingsnorth. The Trust has therefore been forced to exclude North America and North Americans from its activities. We did consider winding up the Trust but decided to continue to administer the OCC’s restricted funds during 2026.
Helen Holden has been assiduously serving the Trust as Secretary and Trustee since its creation in 2020 and her second and final term will end at this AGM. Fortunately, a new volunteer, Marina Noreck, is standing by and ready to step into her shoes from February 2026.
Many thanks for everyone’s hard work and dedicated service to the OCC Charitable Trust.
Simon Currin Chairman
Ocean Cruising Club Charitable Trust
Reg No 1191825
Financial Statement for the year ending 31[st] December 2025
| £ | £ | £ | ||
|---|---|---|---|---|
| 2025 | 2024 | 2023 | ||
| Income: - | ||||
| Donations | 4,364.42 | 25.00 | 330.00 | |
| Gift Aid Refund | ||||
| (Not yet received) | 25.00 | 0.00 | 0.00 | |
| TOTAL | 4,389.42 | 25.00 | 330.00 | |
| Outgoings: - | ||||
| Granted | 1,250.00 | 500.00 | 1000.00 | |
| Bank Charges | 72.00 | 71.40 | 72.00 | |
| Paypal Charges | 0.00 | 0.55 | 2.52 | |
| Website Costs | 0.00 | 0.00 | 307.20 | |
| IT & Software | 0.00 | 0.00 | 0.00 | |
| Trustee Insurance | 442.00 | 442.00 | 442.00 | |
| TOTAL | 1,764.00 | 1,013.95 | 1,823.72 | |
| NET INCOME / EXPENDITURE |
2,625.42 | **(-988.95) ** | (-1,493.72) | |
| Liabilities: - | Accruals for | |||
| Operating Costs | 1,311.75 | 0.00 | 0.00 | |
| 2026-2027 | ||||
| Restricted Funds: - | 4,264.42 | 0.00 | 0.00 | |
| Bank Account at 31/12/23 | . | 3,969.99 | ||
| Bank Account at 31/12/24 | 2,981.04 | |||
| Bank Account at 31/12/25 | 5,581.46 |
Approved by the trustees and signed on their behalf:
Signed Treasurer
30/01/2026
Richard Kingsnorth
I have examined the above accounts with the source accounting records and believe them to be an accurate account of the Charity’s financial position.
Signed:
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31/01/2026
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J. E. Crowther
Notes to the Accounts
1. Accounting policies
The financial statements have been prepared in accordance with the Charities Act 2011 and the Charities SORP (FRS 102). The charity prepares accruals accounts and the accounts are presented in pounds sterling (£).
2. Income recognition
Income is recognised when the charity is entitled to the funds, receipt is probable and the amount can be measured reliably. Gift Aid income is recognised when the related donation is received.
3. Expenditure recognition
Expenditure is recognised on an accruals basis as a liability is incurred. Grants are recognised when approved and paid.
4. Restricted funds
Restricted funds represent income received for specific purposes as specified by the donor. During the year restricted income of £4,264.42 was received for YSP-related activities. No restricted funds were expended during the year.
5. Creditors
Creditors at the year-end comprise accruals for insurance, bank charges and IT costs totaling £1,311.75.
6. Trustees and employees
The charity had no paid employees during the year. No trustees received remuneration or expenses.
7. Related party transactions
There were no related party transactions during the year.
8. Assets
The charity held no tangible fixed assets at the year end.