## **Trustees’ Annual Report for the period** **From: 01/10/2024 Period start date To: 30/09/2025 Period end date Charity name: South Cerney Sailing Club Limited** ## **Charity registration number: 1201064** ## **Objectives and Activities** ||SORP reference|| |---|---|---| |Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|The purpose of the Club is to promote
and facilitate community participation in
healthy recreation by providing facilities
for sailing, and other water-based activities,
to those residents and visiting the
surrounding area of South Cerney.| |Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.|Para 1.17 and
1.19|Provide facilities and equipment for
general sailing and water-based activities.
Provide training for inexperienced and
experienced sailors, including Royal
Yachting Association (RYA) accredited
training courses.
Organise a programme of sailing
activities, racing and events.
Promote youth sailing, including
through the provision of a safe
environment, equipment, and training.
Make available the facilities to other
groups and organisations for sailing.
Offer temporary membership and boat
hire and provide buoyancy aids to
casual visitors.| |Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|All Trustees are provided with copies of
the relevant guidance from the Charity
Commission regarding Public Benefit.| ## **Additional information (optional)** You may choose to include further statements where relevant about: ||SORP reference|| |---|---|---| |Policy on grant making|Para 1.38|Not applicable| ||Para 1.38|Not applicable| |Policy on social investment
including program related
investment||| |---|---|---| |Contribution made by
volunteers|Para 1.38|The Club is primarily run by unpaid
volunteers. None of the Trustees receive
any remuneration or other benefits
including the Treasurer and Secretary.| |Other||| ## **Achievements and Performance** ||SORP reference|| |---|---|---| |Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.|Para 1.20|Our Sailing Club has 523 members which
includes 34 new members this year. The
membership is slightly down on 2024.
Club now provides facilities and equipment
not just for dinghy racing or cruising, but
also windsurfing, kayaking and Stand-Up
Paddle boarding. Importantly, the club runs
a Cadet squadron for youngsters; 20-30
sailing
and
training
most
Saturday
mornings throughout the year. The club
also provides boats and our members
support UK Blind Sailing for their training
days and facilities for the REME sailing
club including their families; the club now
provides water-based facilities to both the
Swindon and the Wootten Bassett Sea
Scouts.
RYA accredited Sail training and Power
boat training is carried out not only to
encourage full participation but also to
ensure risks are mitigated and safety
aspects are prioritised. Risk assessments,
including weather forecasts and assessing
the experience of sailors are carried out
prior to all sailing events and action, such
as additional safety boat cover taken.
Over the year the club ran over 250 races
across 33 series, 108 of our members
sailed over 1,500 races.. Members not only
organise and run the races but also provide
safety boat cover. The club also hosts a
number of National sailing races for
specific classes of sailing dinghies during
the year, attracting visiting sailors from
around the UK. In addition, the Cadet fleet
contributed 3 of the 4 crews who
represented the UK at the Cadets’ World
Championships in Czechia.| The club has a policy to maintain a contingency monetary reserve of 50% of annual operating expenses to meet any significant unexpected or exceptional costs that might impact the club’s ability to function. The club invests to maintain and improve capabilities, equipment and facilities, this year replacing one of the safety boats, provision of a motorised mover for boat handling, installing solar/PV panels and repairs to various part of the Club grounds and fabric. Next year, if funds permit, upgraded changing room facilities. **Additional information (optional)** You may choose to include further statements where relevant about: |Achievements against
objectives set|Para 1.41|The club has had limited training
capabilities due to limited availability of
trainers. However, the main racing season
started as planned in April and ran until the
end of October. The club was able to
undertake some powerboat training using
their own trainers. The Winter sailing series
continued but with the usual lower numbers
of participants.| |---|---|---| |Performance of fundraising
activities against objectives
set|Para 1.41|The club income, that is primarily from
membership fees, has continued in line
with previous years. There has been some
drawdown of costs against items that have
needed replacing, plus the replacement of
one of the safety boats, provision of a
motorised mover for boat handling,
installing solar/PV panels and repairs to
various part of the Club grounds and fabric.| |Investment performance
against objectives|Para 1.41|All surplus funds are held in accounts
with UK based High Street banks.| |Other||| ## **Financial Review** |**Financial Review**||| |---|---|---| |Review of the charity’s
financial position at the end
of the period|Para 1.21|The cash balance at the year-end is
£144k in the General Account. The Club
continues to carefully monitor income
verses expenditure to maintain a balance
which enables the Club to invest in the club
facilities whilst ensuring sufficient reserves
are maintained.| |Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|The Club Reserves Policy is to maintain a
sufficient financial contingency level, to
enable 50% of normal operating activities
to continue over a 12-month period should
a shortfall in income occur and considering
potential risks and contingencies that may
arise from time to time. In addition, the Club
Development Plan calls for the
refurbishment of changing facilities to
address both additional numbers and
changing contemporary user needs as and
when financial and management resources
permit.| |Amount of reserves held|Para 1.22|None| |Reasons for holding zero
reserves|Para 1.22|In effect the cash in hand at the bank acts
in part, as a reserve and has been a
relative stable position over the last few
years. It has not been considered a
requirement to set up a separate account to
hold these same monies.| |Details of fund materially in
deficit|Para 1.24|N/A| |Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|None.| ## **Additional information (optional)** You may choose to include further statements where relevant about: |The charity’s principal
sources of funds (including
any fundraising)|Para 1.47|The funds to meet normal operating
costs come from members subscriptions,
race entry fees and some incidental income
is generated from the use of the clubhouse
building by members and the local
community.| |---|---|---| |Investment policy and
objectives including any
social investment policy
adopted|Para 1.46|The club holds no long-term investments.
The principle criterion is the security of
funds, as such they are all held in accounts
with UK based High Street banks.| |A description of the principal
risks facing the charity|Para 1.46|The trustees have a duty to identify and
review the risks to which the charity is
exposed and to ensure appropriate controls
are in place to provide reasonable
assurance against fraud and error.| Trustees manage and mitigate risks to the charity through reviews of operations and procedures at trustee meetings held as required, but every six months as a minimum. • Finance – ongoing cashflow model and budget control with internal authorisation procedures for management of transactions. • Health and Safety – an agenda item at every meeting (trustees and committee members) to ensure compliance with regulations, and a general common-sense approach to maintaining safe practices, with specific procedures for on or near water activities. • External risk – to funding and services, strategic planning ensures relevant service development and diversifications paying heed to wider county and national strategic direction. Other ## **Structure, Governance and Management** |Description of charity’s
trusts:||| |---|---|---| |Type of governing document
(trust deed, royal charter)|Para 1.25|Articles of Association, approved by EGM
20 August 2022| |How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|Charitable Company, Limited by Guarantee
under the Companies Act 2006| |Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees|Para 1.25|All trustees are elected from the Club
membership at the AGM. Depending on the
role they hold on the Executive Committee,
the trustees may stay in post for either
three or four years, subject to an annual
vote of the membership. After this period,
they have to standdown or apply for a
different role. Any member may put their
name forward to serve as a trustee when a
vacancy arises.| **Additional information (optional)** You may choose to include further statements where relevant about: |Policies and procedures
adopted for the induction
and training of trustees|Para 1.51|New trustees are fully briefed on their
duties and responsibilities using material
from the Charity Commission website.| |---|---|---| |The charity’s organisational
structure and any wider
network with which the
charity works|Para 1.51|The day-to-day activities of the Club
are run by an Executive Committee,
chaired by the Club Commodore (who
is also a trustee). The members of the
committee are elected/re-elected annually
at the AGM and are drawn from the club
membership. Any member may put
themselves forward for consideration by the
members at the AGM.| |Relationship with any
related parties|Para 1.51|None| |Other||| ## **Reference and Administrative details** |Charity name|South Cerney Sailing Club| |---|---| |Other name the charity uses|| |Registered charity number|1201064| |Charity’s principal address|South Cerney Sailing Club
Lake 16,
Station Road,
South Cerney
GL7 5TH| ||| ## **Names of the charity trustees who manage the charity** |1
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20|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year**|**Name of person (or body) entitled**
**to appoint trustee(if any)**| |---|---|---|---|---| ||Blair Jamieson|Commodore||| ||Clive Whitehouse|Vice Commodore||| ||Alistair Sim|Rear Commodore||| ||Nigel Dibb|Treasurer||| ||JeremySoulsby|Hon Secretary||| ||William Gardiner|MembershipSec||| ||Mac Powell|DutySec||| ||Alex Atack|SailingSec||| ||TimothyBullock|Cadet Captain||| ||Sam Tanner|Marketing||| ||Kean Gunton|Social Sec||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| – Corporate trustees names of the directors at the date the report was approved **Director name** Blair Jamieson Clive Whitehouse Alistair Sim Nigel Dibb Jeremy Soulsby William Gardiner Mac Powell Alex Atack Timothy Bullock Sam Tanner Kean Gunton Name of trustees holding title to property belonging to the charity **Trustee name Dates acted if not for whole year** ## **Funds held as custodian trustees on behalf of others** |Description of the assets
held in this capacity|Not applicable| |---|---| |Name and objects of the
charity on whose behalf the
assets are held and how this
falls within the custodian
charity’s objects|Not applicable| |Details of arrangements for
safe custody and
segregation of such assets
from the charity’s own
assets|Not applicable| ## **Additional information (optional)** ## **Names and addresses of advisers (Optional information)** |**Type of**
**adviser**
**Name**
**Address**|**Type of**
**adviser**
**Name**
**Address**|**Type of**
**adviser**
**Name**
**Address**| |---|---|---| |||| |||| |||| |||| |**Name of chief executive or names of senior staff members (Optional information)**||| |||| ## **Exemptions from disclosure** Reason for non-disclosure of key personnel details ## **Other optional information** Declarations The trustees declare that they have approved the Iwstses, report above. sIgn￿ on behalf of the charity's trustees Signature(s) Full name(s) Posltlon (eg Secrelary. Chalr. etc) Blair Jamieson Jeremy Soulsby Honorary ￿retary ao M24C4A 2oaco South Cerney Sailing Club Limited Acom limited uarantee and not havin share ca Annual Report and Financial Statements for the year ended 30 Septwnber 202S Charity number 1201064 Company number 0893478 "AEM9GSRL• IJ1212025 COMPANIES HOJSE 1111 A07 #233 South Cemey Sailing Club Limiled Trustees. Report For the year ended 30 September 2025 Admlnlstralive Infofmath South Cemey Sailing Club Limrted Chari Number. 1201064 Com an Number". 0893478 Address South Cerney Sailing Club Station Road South Cerney Cirencester Gloucestershire GL7 STH Mana Trustees Mr Blair Jamieson {Chair) Al Sim Iliam Gardiner Tim Bullock Sam Tanner Clive ￿￿llehouse Kean Gunton Jo Soulsby A￿X Atsck Mac Powell NKJel Dibb Nigel Dibb Inde endent Examiner Miss Ruth Herbert FCCA Wenn Townsend Chartered Accountants Watermoor Point Watermoor Road CireTrcesler Gloucesler5hire GL7 1LF ointment f Tru tees and Off￿er3 The appointment of officials takes place at Th*etings where the person is proposed arKI seconded by existing officials. The induction of new Trustee5 invofves awareness of Trustees. responsibilities, the governing document. administrats've procedufes. the history and philosophical approach of the Chaity. Slrueture Govemance and Mana en*nt South Cerney Sailing Club Limrted is a company limited by guarantee with no share capf(al. govemed by memorandum and articles of assocpts"on. It was wwporated on 6 December 1966 and registered as a charity on 18 Novembe¥ 2022. South Cemey Sailing Club Limited Trustees, Report (continued) For the year ended 30 Septern￿r 2025 Risk Mana effenl The Directors have conducted a review of the major risks to wh￿h the charity is exposed. A risk register has been established and is updated al leasl annually. appropriate. systems or F¥ocedu￿S have been established lo mitigate the risks which the Charity faces. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures afe in place to ensure compliance with health and safety of staff, volunteers. clients and visitors lo our premises. 'ectives and Aclivities To promote community pa￿1patiOft in heatthy f&reatKin by providing facilities to participate in water based amaleur sports, in¢luding sailing. paddle boarding. canoeing and windsurfing. To advance education for the public benefit in the subject of water based sports. induding youngsters from the age of 8 a$ well as adults lo support and provide ts¢ililies for disabled sailing acts'v￿'es. Public Benefit Achievement and Perforrnar￿e In planning the Charity's activities forthe year. the Tmstees kept in mind the Chanty Commission's guidance on PLtblic benefit at their meetings. umma of Y rf ActNities At the year end our Sailing Club had 523 ￿￿rnber5. 4% down frorn last year. though 34 new members ioined the dub. The Club provKles faalrties and equipment not just for dinghy racing and cruising, but also windsurfin9. windlwing ft)ilers, kayaking and Stand-up paddle boarding. Importanlty, the club runs a Cadet squadron foi youngster5", 20-30 sailing and training most Saturday mornings throughout the year. This year, In addition lo conbnuing lo provide t4)als and support lo the UK Blind Sailing fo¥ their training days and facilities for the REME sailing club including their families, the club now provides sailing fa¢ililies to th the Swindon and the Wootten Bassett Sea Scouts. RYA accredited Sail training and Power boat training is camed out not only to encourage full parbcipalion but also to ensure risks are mitmjaled and safety aSp￿ts are priorit¢sed. Rrsk assessments, including wealher forecasts and assessing the eXpe￿nce of sailors afe carried out prior to all sailing events and action. such as additional safety boat cover. is w plxe. Over the year the club ran over 250 races across 33 series, 108 of our mefflbers sailed over 1,5W races. The most active member partieipaled in over 100 races. Members nol only organise and run the races but also provKle safety boat cover. The club also hosts several National events for spe¢rfic dasses of sailing dinghies during the year, attracting visiting sailors from around the UK. Our Cadet fleet contributed almost 3 of the 4 crews who represented the UK al the Cadets. World Championships in Czechia. The club has a policy lo maintain a contingency n￿netary reserve of 50% of annual operating expenses to meel any s￿nIT￿nI unexpected or eX￿PtIonal costs that might impact the Club's ability to function. The club invests to maintsin and improve Capabilities. equipnEnt and facilities. this year Instslling solar panels. purchasing a multi-mover to assist in rescue RIB haul-ouls and have contracted to purchase a replxemenl rescue R18 in early 2026. South Cemey Sailing Club Limited Trustees. Report (continued) For the year ended 30 Seplember 2025 Statement of Trustees. Res nsibiif(ies The Charity Truslees (who are also the directors of South Cemey Sailing Club Limited for the purposes of company lawl are responsible for preparing a Trustees, annual report and financial statements in a¢¢ordance with applicable law and Unrted Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). Compary law requires the Twstees to prepare fina￿la1 statements for e&h financial year vthi¢h give a true and frdir view of the stste of the affairs of the Charitable Company as at the balanee sheet dale and of its incoming resources and applicat￿n of resources. induding income arKI expenditure. for the financial year. In preparing those financial statements, the Trustees should test practtce and.. 5eled suitable accounting policies and then apply them consistently., observe the methods and principles in the applicable Charities SORP- make judgements and estimates that are reasonable and prudent., state whether appluble UK accounting standards have been followed, subject to any material departures disclosed and explained in the ffinancral statements.. prepare the financial statements on the going concem basis unless it is inappropriate to presume that the Charity will continue in business. The Tmstees are responsible for keeping properaccounting records that di￿10Se with reasonable accuracy at any lime the financial position of the Chanty and to enable them to ensure that the financial statements comply with the Companies Act 20C6. They are also responsible for safeguarding the assets of the Charity and the group and hence laking reasonable steps lor the preventM)n and detecb.on of fraud and other irregularities. The Tnjstees are responsible for ihe maintenance and integrity of the corporate avKI financial infonnation included on the Charitable Cornpany'swebsite. Legislatson in the United Kingdom goveming the p￿Para￿.0rt and disseminatKJn of financbal Stater¢￿15 may drfler from *islatson in otherjurisdictions. On behalf of the Trustees on 17 November 2025 Blair Jafflleson Chairperson South Cerney Sailing Club Limited Independent Examin•Vs Report Forthe yearend¢d 30 September 2025 I report to the Charity Trustee$ on my examination of the accounts of the company for the year ended 30 September 2025 which a￿ set out on pages 5 to 13. Responsibilities and basis of report As the Charty Trustees of the company (and also its dIrect￿S for the purposes of company law) you are responsible for the preparatK)n of the accounts in accordance wrth the requ1￿ments of the Companies Act 2006 {'the 2006 ACYI. Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respeel of my examination of your company's accounts as Carr￿ out under seth.on 145 of the Chanties Act 20111'the 2011 Act'l. In Carrying out my examination I have f￿1¢>Wed the Directions given by the Chanty Commission under secb'on 14515)Ibl of the 2011 Act. Independent èxamln#rfs sLitement I have completed my examinats"on. I confirm that no matters have come to my attention in connecb'on with the examination giving me cause to believe that in any material fespect" accounting re¢(￿dS were not kept in respect of the eonwany as required by section 386 of the 2006 Act., or the accounts do not &cord with those records.. or the accounts do not cornply with the a¢eountsng requirements of secb'on 396 of the 2006 A¢t other than any requirement that the accounts gNe a 'true and fair view, which is not a matter considered as part of an independent examination. or the accounts have not been prepared in accordance with the methods and prinaples of the Statement of Recommended P￿tr.ce for accounting and reports.ng by charth.es applicable lo charities preparing their accounts in accordance with the Financial Report"bng Standard appluble in the UK and Republi¢ of Ireland IFRS 102) I have no concerns and have come across no other rnatters in connection with the examination to which attention should be drawn in this report in order to enable a proper understsnding of the accounts to be reached. Name: Ruth Herbgrt Relevanl Professional qualifiution or body: FCCA Address: Wenn Townsend Watermoor Point Watemioor Road Cirencester GL7 1LF Date: 24 Nov•mber 2025 South Cerney Salllng Club Llmiled staten￿ni of Financial Activitie5 for the year ended 30 September 2025 (Incorporntlng the Inc¢)me and Expenditurn Ae¢ounl Unrestricted Restrietèd Funds Funds 2025 2025 Total Funds 2025 Total Fund 2024 Income from: Donations and legaues Charitable activities Investment income Other income Fundraising events 1,349 111.472 2,821 1,349 111,472 2.821 920 105.760 1,954 485 Total Incoming Resources 115.642 115,642 109,119 Resources Expended Charrtable actNilies Fundraising expenses Govemanee costs 127.492 127,492 107.700 3,579 3,579 4.695 Total R•$ources Expanded 131,071 131.071 113.394 Nel {outgoing) resources before transfe {15,4291 115,4291 14.2751 Gross transfers behveen funds Net moverTEnt in funds (15.429) 115.429) 14,275) Balan¢¢ at 30 September 2024 358.772 358.772 363,047 Total funds carried forward 343.343 343.343 358.772 The statement of financial acts"vities includes all gains and losses recognised during the year. Ail incoming resources expended derive from continuing aclwits"es. South Cerney Sailing Club Limited Balance Sheet As at 30 September 2025 2025 2024 Fixed Assets Tangible assets 202.759 203.363 Current Assets Stock Debtors Cash at bank and in harmj 440 5.296 154.133 4,773 138,646 144.304 159,869 Current Llabilities Creditors". amounts falling due wthin one yeaf 10 (3,7201 14,460) Net CurrentAssets 140.584 155.409 Tolal Funds 343.343 358,772 Accumulated Reserves Unrestricted Income Funds 11 343.343 358,772 In approving these financial statements as Directots of the Company we hereby confirm.. la) The Company is enb'tled to the exempth.on from audtt under Section 477lcl of the Companies Act 2006 for the year ended 30 September 2025. The Tmstees have not required the Charitable Company lo obtain an audit of its financ*1 staten*nt for the year ended 30 September 2025 in accordance wrth 5e¢tion 476 of the Companies Act 20Ch5. Ib) That we acknowledge our reS￿nsibl11￿eS for. 111 ensuring that the Company keeps accounting records whth compty wrth section 386 and 387 of the Companies Act 2006 and 12} preparing financial slatefflents which gpie a true and fair v*w of the state of affairs of the Company as at the end of the financial year and of rts profil or loss for the year then ended in accordance with the reqU1￿mentS of section 394 and 395 and which otherwise compty with the provisrons Qt the Companies Act 2006 relating to financial statements, so far as applicable to the Charitable Company. These accounts have been prepared in accordance with the provisions applicable to companies subject lo the small companies, regirre and in accordance with FRS102 and the Charl￿S SORP IFRS102). The noles on the following pages form part of these accounts. These financial statements We￿ approved and authorised for issue by the Trustee$ on 17 November 2025 and signed on their behalf by- Chair of Trustees Nair Jamieson Company Registration No. 0893478 South Cerney Sailing Club Limitod Notes lo the Financial Statements For the Year Ended 30 September 2025 Accounting Policios 8asls of Preparallon olfinancial stknnts The financial statemnts have been prepared in accordan¢e with the ¢harity's governing document, the Companies Act 2006 and. "Accounting and Reporting by Charrties.. Statement of Recommended Practice applicable to charities preparing their xcounts in ae¢ordan¢e with the Financial Reporting Stsndard applicable in the UK and RepU￿le of Ireland IFRS102) (effective 1 January 20191.. The charity is a Public Benefit Ents"ty as defined by FRS102. The financial statements are p￿pared in Sterling. which L% the functional currency of the charity. Monetary amounts in these financial statements we rounded to the nearest £. The financial statements have been prepared under the hi5torul cost rJJnvention. n￿dffied io Include certain finan¢ial instruments al fair value. The principal accounting Pol￿￿$ ￿0pted are set out below. Golng concein At the lime of approving the financ￿1 statements the trustees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going Concern basis of accounting in preparing the financial statements. Tanglble Fixed Assgts and Depreci•lion Tangible fixed assets are inrtially measured at cost and subsequentty measured al cost or valuation. nel of depreciation and any impairrnent losses. Equiprnent Boats Leasehold Property Depreciation is provided at 15% on the straight line basis Depwiation Is provided at 25% on the straight line basis Depreciat#)n is provided at 40 yeas on the strarghl line basis Income from Charitabl• Activitie¥ Cxher income Income is re¢ognised when the charity is legal￿ entitled to it after any perfomiance conditions have been met, the amounts can be measured reliabty, and rt is wobable that income will be recewed. Cash donations are recognised on receipt. Other donatK)ns are re¢ognised once the charrty has been notified of the donation, unless perfomiance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Grft Aid or deeds of eovenant is recognised at the time of the donation Legacies are recognised on receipt or otherwise rfthe charity has been notified of an impending distribution. the amount is known, and receipt is expected. If the amount is rM)t known, the leg￿ is treated as a contingent asset. Income from government and other grants is recognised vthen the charity has entitlernent to the funds, any performance conditions attached to the grants have been met. r( is probable that the Incorr￿ will be received and the amount can be I￿asured reliabty. Investment income is included when receivable and the ar￿Unt can be measured reliabty by the charity. this is normalty upon notthcation ol the interest or dividends paid or payable by the bank or investment manager5. South Cern¢y Sallln9 Club Llmlted Notes to the Financial Statsmtnts (continued) For the Year Ended 30 S•ptember 2025 Resources expended L￿bilItieS are recognised as expenditure as s￿n as there a legal or ¢onstructive obligation commitb'ng the charity to that expendituTr, rt is probabk that a transfer of economic teneffts will be required in settlement and the amunt of the obligatKJn can be measured reliably. Expendrture is accounted for on an accruals basis and has been classified under headings that aggregate all cosls related to that calegory. Where costs cannot be directly attributed lo particular headings they have been alk￿ated to aclivrties on a basis consistent with the use of resour￿$. Irrecoverable VAT ￿ charged against the category of resources expended for which it is incurred. Support costs are those fvnctions that asssi the work of th charity but do not directly undertake charitable a¢tivities. Support costs are governance costs wh￿h support the charty's prograrnmes and acbvilies. These ost5 have been allocated btheen cost of raising funds and expenditure on chantable activities. The management of the charity's affairs and fundraising are wholty undertaken by volunteers and no salaries or other employee expenses are incurred. Impairment of fixed assots At each reporting end dale. the chanty reviews the orrying amounts of its tangible assets to detemiine whether there is any indication that those assets have suffered an impaimEnt loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the exlenl of the impairment loss (if any). Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits hekl at call wilh banks. other short-term liquTrd investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilrties. Flnancial inslruments Financial instruments are recognised in the eharitYs balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilits.es are offset. with the net amounts presented in the financial statements, when there is a legalw enforceable right to set off the recognised amourits and there is an intention to settle on a net basis or to realise the a5sel and settle the liabilty simultaneously. Basic financlal assets Basic financial assets. which include debtors and cash and bank balances, are inilialty measured al transaction price including transaction eosts and are subsequenty carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transath"on. where the transactKin is measured at the present value of the fvture receipts discounted at a market rate of intere$L Financial assets classified as receniabb within one year are not amortised. ConcessK)nary loans are basic financial instruments and are initrally recognized at the amount paKI. The carrying affK)unt is adjustsd in subsequent years lo refflect repayments and any impairrr*nt. Basi¢ financial Ibabilittes Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement ¢onstitute5 a financing transaction. where the debt instrument is measured at the present value of the future PaY￿nIS discounted at a market raie of interest. Financial liabilities classified as payable within one year are not amortised. South Cemey Sailing Club Limlted Notes to the Financial Statements lcontinuedl For the Year Ended 30 Septembor 2025 Debt instruments are subsequenly carried al amrtised cost. using the effectNe interest rate method. Trade creditors are obligations to pay for gyjds or servus that have been acquired in the ordinary course of operations from suppliers. Arrnunts payable are classified as current liabilit￿S if payment is due within one year or less. If not. they are presented as non-current liabilib"e5. Trade credrtors are recognised initially at transa¢lion price and subsequentty measured at amortised cost using the effeelrve interest method. Derecognitlon of financlal Ilabilities Financial liabilrties are derecognised when the charty'5 contractual obligations expire or are dis¢harged or cancelled. Provislons Provisions are recognised when the has a legal or constructive presenl Obl￿atiOn as a result of a past event. it is probable that the charty will be required to settle that obligation and a reliable estimate can be made of the amount of the Obligat￿n. The amourst recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date. taking into a¢count the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is reccgnised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in net incomel{expenditure) in the peri¢)d in which il arises. Taxation The charrty is exemptfrom taxon income and gains falling within section 505 ofthe Taxes Act 1988 or section 256 of the Taxalion of Chargeable Gains Act 1992 to the extent that these are applied to its charitable object5. l. Restrfcted Funds The company has not received any restricled funds this year. There are currentty no restrided funts. 2. Donatlons 2025 2024 Other donations 1.349 920 South Cemgy Salling Club Llmited Notes to the Financial Slatements {continuod) For the Year Ended 30 September 2025 Income from Charitable activities 2025 2024 Chatilable income 111.472 105,760 Investment Income The amount received represents dNidends and interest on bank depostts. Cost of charitable activitles 2025 2024 Drecl costs Establishment costs Administrative costs 8ank¢harges oepreciat￿ft eosts 18,530 58,185 28,499 1,394 20,884 8,506 65,543 15.445 1,366 17.839 127.492 108,669 Governance costs 3,579 4,695 131,071 113.394 Net mov•ment in funds Net movement in funds is stated after chargintylcredth'ng)." 2025 2024 Depreciation of thvned tangible fixed assets 20.884 17.839 staff costs The charity had no employees in 2025 and 2024. The directors receyved no beneffts during the year. -10- South Cerney Salling Club Limit Notes to th• Financial Statements (continued For the Year Endod 30 September 2025 Tangible Fixed Assets Leasehold Boats Equipment Totsl Cost At 1 October 2024 Additions Oisposals 338.890 79,263 83.251 20.280 1500} 501,404 20.280 17501 1250) At 30 September 2025 338,890 79.013 103.031 520,934 Depreciation Al 1 October 2024 Charge for the year Disposals 176.373 8.350 75,663 1.262 (2501 46,005 11,272 {500) 298,041 20,884 (7501 At 30 S•ptember 2025 184.723 76,675 56,777 318,175 Net book value al 30 September 2024 162.517 3.600 37.246 203,363 N•t book value at 30 September 2025 154,167 2,338 46,254 202,759 All the Charity's assets are used for charitable wrposes. Debtors 2025 2024 Trade debtors Prepaymen15 662 4.111 1.371 3,925 4.773 5,296 10. Credito 2025 2024 Aecrua 3,720 4,460 -11- South Cerney Saillng Club Llmlled Notes to the Financial Slatem?nts {continued} For the Year Ended 30 September 2025 11. Unrestricted funds At 1 October Al 30 Sgptornb•r 2025 Incoming Outgoing Transfers rer•ources vesources General fund 358,772 115.642 {131.0711 343.343 At 1 October At 30 September 2024 In¢oming Out90ing General fund 363.047 109.119 1113,394) 358,772 12. Analysls of nel assets bthKen funds Fund balances at 30 Septeffthr 2025 reFxesented by: Genernl funds Designated fun(ts Restricted funds Total funds Tangible fixed assets Stock Cash al bank and in h Other net assets 202.759 202,759 885 138,641 1.058 138.641 1.058 343,343 343.343 Fund balances al 30 September 2024 represented ty.. General Dtsignated lunts funds Restricted funds Total fund5 Tangible fixed assets Stock Cash at bank arkd in hand Other nel assets 203.363 440 154.113 836 203.363 440 154.113 836 358.772 358.772 -12- South Cemey Sailing Club Limited Notes to the Financial Ststements l¢ontinuedl For the Year Ended 30 Sgptembpr 2025 13. Fin•nc6al Commltments, guarnntee and conlingenl liabilities None known. 14. Transactlons wilh t￿￿te8$ and connected persons None known. 15. Related party transactions None known. 16. Share Capltal The company is limited by guarantee and does not have share capital. South Cerney Sailing Club Limited Acom limited uarantee and not havin share ca Annual Report and Financial Statements for the year ended 30 Septwnber 202S Charity number 1201064 Company number 0893478 "AEM9GSRL• IJ1212025 COMPANIES HOJSE 1111 A07 #233 South Cemey Sailing Club Limiled Trustees. Report For the year ended 30 September 2025 Admlnlstralive Infofmath South Cemey Sailing Club Limrted Chari Number. 1201064 Com an Number". 0893478 Address South Cerney Sailing Club Station Road South Cerney Cirencester Gloucestershire GL7 STH Mana Trustees Mr Blair Jamieson {Chair) Al Sim Iliam Gardiner Tim Bullock Sam Tanner Clive ￿￿llehouse Kean Gunton Jo Soulsby A￿X Atsck Mac Powell NKJel Dibb Nigel Dibb Inde endent Examiner Miss Ruth Herbert FCCA Wenn Townsend Chartered Accountants Watermoor Point Watermoor Road CireTrcesler Gloucesler5hire GL7 1LF ointment f Tru tees and Off￿er3 The appointment of officials takes place at Th*etings where the person is proposed arKI seconded by existing officials. The induction of new Trustee5 invofves awareness of Trustees. responsibilities, the governing document. administrats've procedufes. the history and philosophical approach of the Chaity. Slrueture Govemance and Mana en*nt South Cerney Sailing Club Limrted is a company limited by guarantee with no share capf(al. govemed by memorandum and articles of assocpts"on. It was wwporated on 6 December 1966 and registered as a charity on 18 Novembe¥ 2022. South Cemey Sailing Club Limited Trustees, Report (continued) For the year ended 30 Septern￿r 2025 Risk Mana effenl The Directors have conducted a review of the major risks to wh￿h the charity is exposed. A risk register has been established and is updated al leasl annually. appropriate. systems or F¥ocedu￿S have been established lo mitigate the risks which the Charity faces. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures afe in place to ensure compliance with health and safety of staff, volunteers. clients and visitors lo our premises. 'ectives and Aclivities To promote community pa￿1patiOft in heatthy f&reatKin by providing facilities to participate in water based amaleur sports, in¢luding sailing. paddle boarding. canoeing and windsurfing. To advance education for the public benefit in the subject of water based sports. induding youngsters from the age of 8 a$ well as adults lo support and provide ts¢ililies for disabled sailing acts'v￿'es. Public Benefit Achievement and Perforrnar￿e In planning the Charity's activities forthe year. the Tmstees kept in mind the Chanty Commission's guidance on PLtblic benefit at their meetings. umma of Y rf ActNities At the year end our Sailing Club had 523 ￿￿rnber5. 4% down frorn last year. though 34 new members ioined the dub. The Club provKles faalrties and equipment not just for dinghy racing and cruising, but also windsurfin9. windlwing ft)ilers, kayaking and Stand-up paddle boarding. Importanlty, the club runs a Cadet squadron foi youngster5", 20-30 sailing and training most Saturday mornings throughout the year. This year, In addition lo conbnuing lo provide t4)als and support lo the UK Blind Sailing fo¥ their training days and facilities for the REME sailing club including their families, the club now provides sailing fa¢ililies to th the Swindon and the Wootten Bassett Sea Scouts. RYA accredited Sail training and Power boat training is camed out not only to encourage full parbcipalion but also to ensure risks are mitmjaled and safety aSp￿ts are priorit¢sed. Rrsk assessments, including wealher forecasts and assessing the eXpe￿nce of sailors afe carried out prior to all sailing events and action. such as additional safety boat cover. is w plxe. Over the year the club ran over 250 races across 33 series, 108 of our mefflbers sailed over 1,5W races. The most active member partieipaled in over 100 races. Members nol only organise and run the races but also provKle safety boat cover. The club also hosts several National events for spe¢rfic dasses of sailing dinghies during the year, attracting visiting sailors from around the UK. Our Cadet fleet contributed almost 3 of the 4 crews who represented the UK al the Cadets. World Championships in Czechia. The club has a policy lo maintain a contingency n￿netary reserve of 50% of annual operating expenses to meel any s￿nIT￿nI unexpected or eX￿PtIonal costs that might impact the Club's ability to function. The club invests to maintsin and improve Capabilities. equipnEnt and facilities. this year Instslling solar panels. purchasing a multi-mover to assist in rescue RIB haul-ouls and have contracted to purchase a replxemenl rescue R18 in early 2026. South Cemey Sailing Club Limited Trustees. Report (continued) For the year ended 30 Seplember 2025 Statement of Trustees. Res nsibiif(ies The Charity Truslees (who are also the directors of South Cemey Sailing Club Limited for the purposes of company lawl are responsible for preparing a Trustees, annual report and financial statements in a¢¢ordance with applicable law and Unrted Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). Compary law requires the Twstees to prepare fina￿la1 statements for e&h financial year vthi¢h give a true and frdir view of the stste of the affairs of the Charitable Company as at the balanee sheet dale and of its incoming resources and applicat￿n of resources. induding income arKI expenditure. for the financial year. In preparing those financial statements, the Trustees should test practtce and.. 5eled suitable accounting policies and then apply them consistently., observe the methods and principles in the applicable Charities SORP- make judgements and estimates that are reasonable and prudent., state whether appluble UK accounting standards have been followed, subject to any material departures disclosed and explained in the ffinancral statements.. prepare the financial statements on the going concem basis unless it is inappropriate to presume that the Charity will continue in business. The Tmstees are responsible for keeping properaccounting records that di￿10Se with reasonable accuracy at any lime the financial position of the Chanty and to enable them to ensure that the financial statements comply with the Companies Act 20C6. They are also responsible for safeguarding the assets of the Charity and the group and hence laking reasonable steps lor the preventM)n and detecb.on of fraud and other irregularities. The Tnjstees are responsible for ihe maintenance and integrity of the corporate avKI financial infonnation included on the Charitable Cornpany'swebsite. Legislatson in the United Kingdom goveming the p￿Para￿.0rt and disseminatKJn of financbal Stater¢￿15 may drfler from *islatson in otherjurisdictions. On behalf of the Trustees on 17 November 2025 Blair Jafflleson Chairperson South Cerney Sailing Club Limited Independent Examin•Vs Report Forthe yearend¢d 30 September 2025 I report to the Charity Trustee$ on my examination of the accounts of the company for the year ended 30 September 2025 which a￿ set out on pages 5 to 13. Responsibilities and basis of report As the Charty Trustees of the company (and also its dIrect￿S for the purposes of company law) you are responsible for the preparatK)n of the accounts in accordance wrth the requ1￿ments of the Companies Act 2006 {'the 2006 ACYI. Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respeel of my examination of your company's accounts as Carr￿ out under seth.on 145 of the Chanties Act 20111'the 2011 Act'l. In Carrying out my examination I have f￿1¢>Wed the Directions given by the Chanty Commission under secb'on 14515)Ibl of the 2011 Act. Independent èxamln#rfs sLitement I have completed my examinats"on. I confirm that no matters have come to my attention in connecb'on with the examination giving me cause to believe that in any material fespect" accounting re¢(￿dS were not kept in respect of the eonwany as required by section 386 of the 2006 Act., or the accounts do not &cord with those records.. or the accounts do not cornply with the a¢eountsng requirements of secb'on 396 of the 2006 A¢t other than any requirement that the accounts gNe a 'true and fair view, which is not a matter considered as part of an independent examination. or the accounts have not been prepared in accordance with the methods and prinaples of the Statement of Recommended P￿tr.ce for accounting and reports.ng by charth.es applicable lo charities preparing their accounts in accordance with the Financial Report"bng Standard appluble in the UK and Republi¢ of Ireland IFRS 102) I have no concerns and have come across no other rnatters in connection with the examination to which attention should be drawn in this report in order to enable a proper understsnding of the accounts to be reached. Name: Ruth Herbgrt Relevanl Professional qualifiution or body: FCCA Address: Wenn Townsend Watermoor Point Watemioor Road Cirencester GL7 1LF Date: 24 Nov•mber 2025 South Cerney Salllng Club Llmiled staten￿ni of Financial Activitie5 for the year ended 30 September 2025 (Incorporntlng the Inc¢)me and Expenditurn Ae¢ounl Unrestricted Restrietèd Funds Funds 2025 2025 Total Funds 2025 Total Fund 2024 Income from: Donations and legaues Charitable activities Investment income Other income Fundraising events 1,349 111.472 2,821 1,349 111,472 2.821 920 105.760 1,954 485 Total Incoming Resources 115.642 115,642 109,119 Resources Expended Charrtable actNilies Fundraising expenses Govemanee costs 127.492 127,492 107.700 3,579 3,579 4.695 Total R•$ources Expanded 131,071 131.071 113.394 Nel {outgoing) resources before transfe {15,4291 115,4291 14.2751 Gross transfers behveen funds Net moverTEnt in funds (15.429) 115.429) 14,275) Balan¢¢ at 30 September 2024 358.772 358.772 363,047 Total funds carried forward 343.343 343.343 358.772 The statement of financial acts"vities includes all gains and losses recognised during the year. Ail incoming resources expended derive from continuing aclwits"es. South Cerney Sailing Club Limited Balance Sheet As at 30 September 2025 2025 2024 Fixed Assets Tangible assets 202.759 203.363 Current Assets Stock Debtors Cash at bank and in harmj 440 5.296 154.133 4,773 138,646 144.304 159,869 Current Llabilities Creditors". amounts falling due wthin one yeaf 10 (3,7201 14,460) Net CurrentAssets 140.584 155.409 Tolal Funds 343.343 358,772 Accumulated Reserves Unrestricted Income Funds 11 343.343 358,772 In approving these financial statements as Directots of the Company we hereby confirm.. la) The Company is enb'tled to the exempth.on from audtt under Section 477lcl of the Companies Act 2006 for the year ended 30 September 2025. The Tmstees have not required the Charitable Company lo obtain an audit of its financ*1 staten*nt for the year ended 30 September 2025 in accordance wrth 5e¢tion 476 of the Companies Act 20Ch5. Ib) That we acknowledge our reS￿nsibl11￿eS for. 111 ensuring that the Company keeps accounting records whth compty wrth section 386 and 387 of the Companies Act 2006 and 12} preparing financial slatefflents which gpie a true and fair v*w of the state of affairs of the Company as at the end of the financial year and of rts profil or loss for the year then ended in accordance with the reqU1￿mentS of section 394 and 395 and which otherwise compty with the provisrons Qt the Companies Act 2006 relating to financial statements, so far as applicable to the Charitable Company. These accounts have been prepared in accordance with the provisions applicable to companies subject lo the small companies, regirre and in accordance with FRS102 and the Charl￿S SORP IFRS102). The noles on the following pages form part of these accounts. These financial statements We￿ approved and authorised for issue by the Trustee$ on 17 November 2025 and signed on their behalf by- Chair of Trustees Nair Jamieson Company Registration No. 0893478 South Cerney Sailing Club Limitod Notes lo the Financial Statements For the Year Ended 30 September 2025 Accounting Policios 8asls of Preparallon olfinancial stknnts The financial statemnts have been prepared in accordan¢e with the ¢harity's governing document, the Companies Act 2006 and. "Accounting and Reporting by Charrties.. Statement of Recommended Practice applicable to charities preparing their xcounts in ae¢ordan¢e with the Financial Reporting Stsndard applicable in the UK and RepU￿le of Ireland IFRS102) (effective 1 January 20191.. The charity is a Public Benefit Ents"ty as defined by FRS102. The financial statements are p￿pared in Sterling. which L% the functional currency of the charity. Monetary amounts in these financial statements we rounded to the nearest £. The financial statements have been prepared under the hi5torul cost rJJnvention. n￿dffied io Include certain finan¢ial instruments al fair value. The principal accounting Pol￿￿$ ￿0pted are set out below. Golng concein At the lime of approving the financ￿1 statements the trustees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going Concern basis of accounting in preparing the financial statements. Tanglble Fixed Assgts and Depreci•lion Tangible fixed assets are inrtially measured at cost and subsequentty measured al cost or valuation. nel of depreciation and any impairrnent losses. Equiprnent Boats Leasehold Property Depreciation is provided at 15% on the straight line basis Depwiation Is provided at 25% on the straight line basis Depreciat#)n is provided at 40 yeas on the strarghl line basis Income from Charitabl• Activitie¥ Cxher income Income is re¢ognised when the charity is legal￿ entitled to it after any perfomiance conditions have been met, the amounts can be measured reliabty, and rt is wobable that income will be recewed. Cash donations are recognised on receipt. Other donatK)ns are re¢ognised once the charrty has been notified of the donation, unless perfomiance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Grft Aid or deeds of eovenant is recognised at the time of the donation Legacies are recognised on receipt or otherwise rfthe charity has been notified of an impending distribution. the amount is known, and receipt is expected. If the amount is rM)t known, the leg￿ is treated as a contingent asset. Income from government and other grants is recognised vthen the charity has entitlernent to the funds, any performance conditions attached to the grants have been met. r( is probable that the Incorr￿ will be received and the amount can be I￿asured reliabty. Investment income is included when receivable and the ar￿Unt can be measured reliabty by the charity. this is normalty upon notthcation ol the interest or dividends paid or payable by the bank or investment manager5. South Cern¢y Sallln9 Club Llmlted Notes to the Financial Statsmtnts (continued) For the Year Ended 30 S•ptember 2025 Resources expended L￿bilItieS are recognised as expenditure as s￿n as there a legal or ¢onstructive obligation commitb'ng the charity to that expendituTr, rt is probabk that a transfer of economic teneffts will be required in settlement and the amunt of the obligatKJn can be measured reliably. Expendrture is accounted for on an accruals basis and has been classified under headings that aggregate all cosls related to that calegory. Where costs cannot be directly attributed lo particular headings they have been alk￿ated to aclivrties on a basis consistent with the use of resour￿$. Irrecoverable VAT ￿ charged against the category of resources expended for which it is incurred. Support costs are those fvnctions that asssi the work of th charity but do not directly undertake charitable a¢tivities. Support costs are governance costs wh￿h support the charty's prograrnmes and acbvilies. These ost5 have been allocated btheen cost of raising funds and expenditure on chantable activities. The management of the charity's affairs and fundraising are wholty undertaken by volunteers and no salaries or other employee expenses are incurred. Impairment of fixed assots At each reporting end dale. the chanty reviews the orrying amounts of its tangible assets to detemiine whether there is any indication that those assets have suffered an impaimEnt loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the exlenl of the impairment loss (if any). Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits hekl at call wilh banks. other short-term liquTrd investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilrties. Flnancial inslruments Financial instruments are recognised in the eharitYs balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilits.es are offset. with the net amounts presented in the financial statements, when there is a legalw enforceable right to set off the recognised amourits and there is an intention to settle on a net basis or to realise the a5sel and settle the liabilty simultaneously. Basic financlal assets Basic financial assets. which include debtors and cash and bank balances, are inilialty measured al transaction price including transaction eosts and are subsequenty carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transath"on. where the transactKin is measured at the present value of the fvture receipts discounted at a market rate of intere$L Financial assets classified as receniabb within one year are not amortised. ConcessK)nary loans are basic financial instruments and are initrally recognized at the amount paKI. The carrying affK)unt is adjustsd in subsequent years lo refflect repayments and any impairrr*nt. Basi¢ financial Ibabilittes Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement ¢onstitute5 a financing transaction. where the debt instrument is measured at the present value of the future PaY￿nIS discounted at a market raie of interest. Financial liabilities classified as payable within one year are not amortised. South Cemey Sailing Club Limlted Notes to the Financial Statements lcontinuedl For the Year Ended 30 Septembor 2025 Debt instruments are subsequenly carried al amrtised cost. using the effectNe interest rate method. Trade creditors are obligations to pay for gyjds or servus that have been acquired in the ordinary course of operations from suppliers. Arrnunts payable are classified as current liabilit￿S if payment is due within one year or less. If not. they are presented as non-current liabilib"e5. Trade credrtors are recognised initially at transa¢lion price and subsequentty measured at amortised cost using the effeelrve interest method. Derecognitlon of financlal Ilabilities Financial liabilrties are derecognised when the charty'5 contractual obligations expire or are dis¢harged or cancelled. Provislons Provisions are recognised when the has a legal or constructive presenl Obl￿atiOn as a result of a past event. it is probable that the charty will be required to settle that obligation and a reliable estimate can be made of the amount of the Obligat￿n. The amourst recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date. taking into a¢count the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is reccgnised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in net incomel{expenditure) in the peri¢)d in which il arises. Taxation The charrty is exemptfrom taxon income and gains falling within section 505 ofthe Taxes Act 1988 or section 256 of the Taxalion of Chargeable Gains Act 1992 to the extent that these are applied to its charitable object5. l. Restrfcted Funds The company has not received any restricled funds this year. There are currentty no restrided funts. 2. Donatlons 2025 2024 Other donations 1.349 920 South Cemgy Salling Club Llmited Notes to the Financial Slatements {continuod) For the Year Ended 30 September 2025 Income from Charitable activities 2025 2024 Chatilable income 111.472 105,760 Investment Income The amount received represents dNidends and interest on bank depostts. Cost of charitable activitles 2025 2024 Drecl costs Establishment costs Administrative costs 8ank¢harges oepreciat￿ft eosts 18,530 58,185 28,499 1,394 20,884 8,506 65,543 15.445 1,366 17.839 127.492 108,669 Governance costs 3,579 4,695 131,071 113.394 Net mov•ment in funds Net movement in funds is stated after chargintylcredth'ng)." 2025 2024 Depreciation of thvned tangible fixed assets 20.884 17.839 staff costs The charity had no employees in 2025 and 2024. The directors receyved no beneffts during the year. -10- South Cerney Salling Club Limit Notes to th• Financial Statements (continued For the Year Endod 30 September 2025 Tangible Fixed Assets Leasehold Boats Equipment Totsl Cost At 1 October 2024 Additions Oisposals 338.890 79,263 83.251 20.280 1500} 501,404 20.280 17501 1250) At 30 September 2025 338,890 79.013 103.031 520,934 Depreciation Al 1 October 2024 Charge for the year Disposals 176.373 8.350 75,663 1.262 (2501 46,005 11,272 {500) 298,041 20,884 (7501 At 30 S•ptember 2025 184.723 76,675 56,777 318,175 Net book value al 30 September 2024 162.517 3.600 37.246 203,363 N•t book value at 30 September 2025 154,167 2,338 46,254 202,759 All the Charity's assets are used for charitable wrposes. Debtors 2025 2024 Trade debtors Prepaymen15 662 4.111 1.371 3,925 4.773 5,296 10. Credito 2025 2024 Aecrua 3,720 4,460 -11- South Cerney Saillng Club Llmlled Notes to the Financial Slatem?nts {continued} For the Year Ended 30 September 2025 11. Unrestricted funds At 1 October Al 30 Sgptornb•r 2025 Incoming Outgoing Transfers rer•ources vesources General fund 358,772 115.642 {131.0711 343.343 At 1 October At 30 September 2024 In¢oming Out90ing General fund 363.047 109.119 1113,394) 358,772 12. Analysls of nel assets bthKen funds Fund balances at 30 Septeffthr 2025 reFxesented by: Genernl funds Designated fun(ts Restricted funds Total funds Tangible fixed assets Stock Cash al bank and in h Other net assets 202.759 202,759 885 138,641 1.058 138.641 1.058 343,343 343.343 Fund balances al 30 September 2024 represented ty.. General Dtsignated lunts funds Restricted funds Total fund5 Tangible fixed assets Stock Cash at bank arkd in hand Other nel assets 203.363 440 154.113 836 203.363 440 154.113 836 358.772 358.772 -12- South Cemey Sailing Club Limited Notes to the Financial Ststements l¢ontinuedl For the Year Ended 30 Sgptembpr 2025 13. Fin•nc6al Commltments, guarnntee and conlingenl liabilities None known. 14. Transactlons wilh t￿￿te8$ and connected persons None known. 15. Related party transactions None known. 16. Share Capltal The company is limited by guarantee and does not have share capital.