## **TRUSTEES REPORT** 

## **Introduction** 

The Sea Cadet Unit at Burnham on Sea and Highbridge is one of over 400 other Units and was founded in 1971. We endeavour to provide training, activities and qualifications for our young people not available elsewhere, providing a level of skills and self confidence that will give them the very best head start in life, encouraging members to support themselves and each other with the aim of fulfilling their potential in life, in whichever direction their future takes them. 

## **Management** 

The Unit Management Team (UMT) meets monthly to discuss opportunities and challenges relating to Unit Management and growth. The team comprises people from all different walks of life and professions which enables each to bring their individual skills, enthusiasm and ideas to ensure success for our cadets and unit. 

## **Concerns** 

The Unit has to rely on active fund-raising and the continued support of our local community for sufficient donations to keep the doors open. Grant applications to external funders are becoming increasingly challenging to find and generally rely on match-funding to achieve which in turn is beginning to stretch our resources. Grants towards unrestricted funds for help with day-to-day operating expense are drying up rapidly. 

We are looking into different avenues to raise awareness of our hall being used for regular external bookings which will help mitigate part of this income gap. 

## **Progress** 

The Commanding Officer ensures the day-to-day smooth working of the Unit and is quick to identify areas in need of support. The UMT pass on our thanks and gratitude for his continued diligence and dedication to our cadets, instructors, volunteers and the wider community. The Unit has appointed a Project Manager for the planned redevelopment and is now beginning stage one of this multi-year project. Once completed the Unit will be able to offer more space for cadet activities. 

The Unit continues to be an active member Cheddar HUBS and use this facility regularly to enhance the sailing experiences of our Cadets. 

## **Volunteers and Cadets** 

Our cadets are enthusiastic and continue to take part in the varied educational activities and training put together by our instructors. They take personal pride in our Unit and represent us at every opportunity, many giving presentations to local community groups. Our cadets are happy and enjoy the experiences made available to them. 

The UMT are extremely proud of our cadets, and are amazed at their achievements both at District and Area levels, often testing their skills and knowledge against larger units. Our successes continue to be reported in local media and our activities are regularly promoted in local magazines. 

The Trustees wish to thank all of our volunteers their continued dedication, support and hard work and welcome newer members of the team. 

We believe our Unit to be happy and successful place due to an incredible team, each working tirelessly to provide exciting and engaging activities to encourage self-confidence and team work enabling our cadets to thrive. 

## **Finance** 

The Team continues to work hard to find sources of income but continues to suffer with the loss of regular hall hires which have yet to be backfilled. 

Fundraising events are held regularly but unfortunately they are not always well supported by parents/cadets. We recognise there are many reasons why parents may not be able to support all of these events however would encourage cadets, parents and volunteers to publicise these 



events at every opportunity amongst their own social circle. Please also shout loudly about the benefits that Sea Cadet Membership brings and the value we place on all of our supporters. **Trustee Objectives for the year 2023/2024** 

- Objectives for the coming year are: 

- To conclude Phase 1 of our Unit redevelopment 

- To enhance the opportunities for our cadets learning 

- To actively search for finance to support the purchase of a replacement minibus 

- To continue with our joint fundraising activities with other local community groups 

## **Risk Assessment** 

The major risks to which the charity/unit is exposed are continually reviewed and systems are put in place in order to minimise these risks. 



**ANNUAL REPORT AND FINANCIAL STATEMENTS AT 31ST MARCH 2023** 

**Charity Name** Burnham-on-Sea & Highbridge Sea Cadet No.552 of the Sea Cadet Corps. **Charity registration number** Registration Number 273886 **Charity Status** The charity is unincorporated **Principal address** Sea Cadet Unit Cassis Close Burnham on Sea Somerset TA8 1NN Email: info@bhseacadets.org Website: www.sea-cadets.org/burnhamhighbridge **Bank** Lloyds TSB Bank PLC 

## Income 

|Income|||||||
|---|---|---|---|---|---|---|
|Note|Unrestricted|Designated|Restricted Funds|Total Funds|2023|Total Funds 2022|
||Funds £|Funds £|£|£||£|
|Subscriptons|7,012|-|-|7,012||6,151|
|Grants|-|-|7,940|7,940||20,625|
|Donatons|1,580|-|-|1,580||310|
|Fundraising|4,602|-|-|4,602||4,003|
|Gif Aid|815|-|-|815||610|
|Payments &|7,140|1,927|-|9,067||2,772|
|Refunds|||||||
|Hall Hire|2,718|-|-|2,718||4,622|
|23,867|1,927|7,940|33,734||39,093||



|Expenditure||||||
|---|---|---|---|---|---|
|Note|Unrestricted|Designated|Restricted Funds|Total Funds 2023|Total Funds 2022|
||Funds £|Funds £|£|£|£|
|Redevelopmen|884|-|370|1,254|-|
|t||||||
|Unit|588|-|1,571|2,159|17,076|
|Maintenance||||||
|Unit|9,959|-|1,521|11,480|7,941|
|Infrastructure||||||
|Replace &|1,942|-|154|2,096|2,791|
|Restock||||||
|Transport|5,491|-|22|5,513|3,861|
|Watercraf|1,544|-|4,210|5,754|-|
|Cadet Actvity &|2,958|-|1,186|4,144|2,785|





|Resource||||||||
|---|---|---|---|---|---|---|---|
|Fundraising|2,242||-|-||2,242|1,419|
|Events||||||||
|Uniform &|885||-|-||885|609|
|Badges||||||||
|26,493|-||9,034||35,507|<br>36,482||
|Surplus / (Defcit) for the||(2,6|1,927|(1,094)|(1,793)||2,611|
|Year||26)||||||
|Bank / Cash Brought||12,0|3,617|4,555|20,227||17,777|
|Forward||55||||||
|Net Assets Brought||171,|111,613|-|282,894||281,104|
|Forward (excluding||281||||||
|bank/cash)||||||||
|(Decrease)/Increase in||-|(11,802)|-|(11,802)||1,629|
|investment||||||||
|Transfer between funds||25,0|(25,000)|-|-||-|
|||00||||||
|Funds Carried Forward||205,|80,355|3,461|289,526||303,121|
|||710||||||
|Bank / Cash Brought||12,0|3,617|4,555|20,227||17,777|
|Forward||55||||||
|Net Assets Brought||171,|111,613|-|282,894||281,104|
|Forward (excluding||281||||||
|bank/cash)||||||||
|(Decrease)/Increase in||-|(11,802)|-|(11,802)||1,629|
|investment||||||||
|Transfer between funds||25,0|(25,000)|-|-||-|
|||00||||||
|Funds Carried Forward||205,|80,355|3,461|289,526||303,121|
|||710||||||
|**BALANCE**|Note|Unrestricted||Designated|Restricted|Total Funds|<br>Total Funds|
|**SHEET AT**||Funds £||Funds £|Funds £|2023 £|2022 £|
|**31st**||||||||
|**MARCH**||||||||
|**2023**Fixed||||||||
|Assets||||||||
|Tangible|5|170,751||-|-|170,751|170,751|
|Assets||||||||
|Net Book Value|170,751||-|-||170,751|170,751|
|Current Assets||||||||
|Debtors and|-||-|-|-|-||
|Prepayments||||||||
|Cash At Bank and In Hand||||||||
|Lloyds Account|33,417||3,617|3,461|40,495||18,866|






**----- Start of picture text -----**<br>
Lloyds  1,012  -  -  1,012  1,361<br>Secondary<br>Account<br>MSSC Float  950  -  -  950  950<br>Investment  6  -  76,738  -  76,738  111,613<br>Portfolio<br>35,379  80,355  3,461  119,195  132,790<br>Total Assets  206,130  80,355  3,461  289,946  303,541<br>Current  Note  Unrestricted  Designated  Restricted  Total Funds  Total Funds<br>Liabilites  Funds £  Funds £  Funds £  2023 £  2022 £<br>Creditors  7  420  -  -  -  420<br>and Accruals<br>Total Liabilites 420  -  -  420  420<br>**----- End of picture text -----**<br>


||Unrestricted<br>Funds|Designated<br>Funds|Restricted<br>Funds|Total Funds<br>2023|Total Funds<br>2022|
|---|---|---|---|---|---|
|Total Assets<br>Less Total<br>Liabilites|205,710|80,355|3,461|289,526|303,121|



## Represented by: 

Total Funds 2023 Total Funds 2022 Unrestricted 205,710 183,336 Designated 80,355 115,230 Restricted 3,461 4,555 289,526 303,121 

## **NOTES TO THE ACCOUNTS AT 31ST MARCH 2023 1. General Information** 

The company is a charity, formed as a company limited by guarantee. 

## **2. Statement of Compliance** 

These financial statements have been prepared in compliance with FRS102, “The Financial Reporting Standard applicable in the UK and Republic of Ireland”. 

## **3. Accounting Policies** 

## **General** 

These accounts have been prepared under the historical cost conventions and in accordance with the applicable accounting standards and the Charities Statement of Recommended Practice (Accounting by Charities) (FRS102). 

**Incoming Resources** 



Incoming resources are the amounts derived from the receipt of subscriptions, gifts and grants falling within the charity’s ordinary activities. 

## **Voluntary Income** 

Voluntary income received by way of donations and gifts are included in full when received. 

## **Revenue Grants** 

Revenue grants are credited to incoming resources on the date when they are received. If they relate to a specified future period they are deferred. 

## **Capital Grants** 

Capital grants are credited to the balance sheet on the date of when they are received. These are credited to incoming resources in line with the depreciation policy noted below. 

## **Governance Costs** 

These are costs associated with the governance arrangements of the charity which relate to the general running of the charity as opposed to those costs associated with fundraising or charitable activity. **Fixed Assets** 

All fixed assets are initially recorded at cost. Assets costing less that £250 are charged to resources expended in the year they are purchased. In the 2023 year, all additions have been included in the Profit and Loss Account under the Watercraft heading. This is in line with the accounting policies issued by MSSC and represents a change of accounting policy. 

## **Restricted Funds** 

Restricted funds are to be used for specified purposed as laid down by the funder. Direct and support expenditure which meets these criteria are to be identified to the fund together with a fair allocation of other costs. 

## **Unrestricted Funds** 

Unrestricted funds are funds which have no restrictions placed on their use and are available as general funds. **Judgements and Estimation of Uncertainty** 

The preparation of the financial statements required management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 

## **NOTES TO THE ACCOUNTS AT 31ST MARCH 2022** 

## **4. Grants** 

|**4. Grants**|||||
|---|---|---|---|---|
|Grants|||||
|2023|||2022||
|Unrestricted Funds £|<br>Designated|Funds £|Restricted Funds £|Total Funds|
|Somerset|3,000|-|-|3,011|
|Community Fund|||||
|Sedgemoor District|-|-|-|10,667|
|Council|||||
|MSSC|500|-|-|5,257|
|Burnham-on-Sea &|1,500|-|-|800|
|Highbridge Town|||||
|Council|||||
|Crowdfunder|-|-|-|327|
|Tesco Groundwork|-|-|-|563|
|Co-operatve|1,640|-|-|-|
|Community Fund|||||
|Mrs Fiona Grifths|500|-|-|-|
|Arnold Clark|500|-|-|-|
|Automotve|||||
|Burnham-on-Sea|300|-|-|-|
|Rotary Club|||||
|7,940|-||-|20,625|





## **NOTES TO THE ACCOUNTS AT 31ST MARCH 2022** 

## **6. Investment Portfolio** 

|**6.Investment Portfolio**||||
|---|---|---|---|
|2023 £||2022 £||
|Market Value brought forward|111,613||109,148|
|Amount Withdrawn|(25,000)||-|
|Dividends Received In Year|1,927||836|
|Increase/Reducton in Value|(11,802)||1,629|
|for the Year||||
|Market Value at 31 March|76,738||111,613|
|2023||||





## **INDEPENDENT EXAMINERS REPORT AT 31ST MARCH 2023** 

I report on the accounts of the charity for the year ended 31st March 2023 set out on pages 19 to 24. 

## **Respective responsibilities of trustees and independent examiner** 

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act), and that an independent examination is needed. 

Having satisfied myself that the charity is not subject to audit under Part 16 of the Companies Act 2006 and is eligible for independent examination, it is my responsibility to: 

- examine the accounts under section 145 of the 2011 Act; 

- to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and 

- to state whether particular matters have come to my attention. 

## **Basis of independent examiner's statement** 

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view', and the report is limited to those matters set out in the statement below. 

## **Independent examiners statement** 

In connection with my examination, no matter has come to my attention: 

1) Which gives me reasonable cause to believe that, in any material respect the trustees have not met the requirements: • to keep accounting records in accordance with section 386 of the Companies Act 2006; and 

• to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods, and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities (revised 2005); or 

• to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. 

## D WRIGHT 

THOMAS WESTCOTT CHARTERED ACCOUNTANTS 

80 OXFORD STREET BURNHAM-ON-SEA, SOMERSET TA8 1EF