R•glst•r•d numb•r. 01611892
Charlty number. 285305
THE NORFOLK BOAT (SAIL TRAINING) LIMITED
(A company Ilmlt•d by guarant••)
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

THE NORFOLK BOAT (SAIL TRAINING) UPArrED
IA c4xwny Ilmlt•d by quv4nl••)
Ind•p•ndwrt •￿￿nIn•￿* r•port
10-14

THE NORFOLK BOAT (SAIL TRAINING) UMITED
(A company ilmlted by guarnntsel
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COIAPAPIY. TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEIIBER 2021
A J Cuthtxrt MBE, Pr•¥dw
H18 HorKxr P Curt DL. thlmi
S G S fvJlen. Trea8urer
RegrAdmlfal R B Lees CVO Iregiry*d 20 July 2021)
M P MBE
C E S Auen {4yknted 5 Oclcthr 2021)
A S Bartram lar¢dnknJ 5 2022)
S 8 Curtls (ro•￿￿ S Awll 2022
WNDarty
T M Hay*wd
ADHuni
8 J L8nd8le (rwlW 20 Juty 2021)
A P Royall
R S ThL¥np*)n {8Kw4nt•J 5 20221
016118V2
R•gl•t•r•d offlc•
Bdtyduff
Fiold Dalllng
Hc4t
Nixf¢
NP25 7LQ
A J Cuthbwt MBE
SAm)merhlll House
Fakenham
NR219F14
Page 1

THE NORFCLK BOAT (SAIL TRAINMG> upxfED
(A comp•ny Ilmlt•d by
FOR The YEAR ENDED 31 DECEMBER 2021
tt￿ ￿ no voyaggs at al. In th9 2021 de*le the ¢x¥)tinulrvJ (xrtrirtts ol Covid. Ihg Charity
marwj to Wlgx 59 y(Kry sallng L¥ul*s ¢kn- no a(*leV￿￿tt In the CiTa¢mstsnc*
So far In th0 2￿2 soason TA• hav• th•t Lu*ed to 8th1. WhHst thwe Is for Ix)mplac•n
and tha 8ffeds d the last yew5 may r¥X h￿0 luly imp*#•J yet on Iho Sal TrninirwJ gwally, Tho
Nc#folk Bolt is qU￿￿Y optsmosllc al restrxlw w¥J pe￿10 ft to sea to tho
p&id8mic level of ar4)ffjxlmatdy pw 86&x￿. It Is the aim ol the (liTeLtcffs that In tha next few years
r lIn￿al atuallon strry wyj TA• ￿ vwjeknj to M•mbws and to 011 ThlK* qrnw8Iy
Th• N(*fdk Boat hag thus IATh•d tt4 forax In r•c*rt y•w¥ lo trylry t¢ lo(¥ts Ar￿ numlxr
(rf F(tsntsl awllrAnts 8TrJ tIw)80 Ih*n. be kn p¥wrtS. toaclw4 carws. Yixth Club leaders 8tc
•tG Thg In bo￿ helpful In ullllslng modgm Irrfum•
25 YWB *Jex 8artr8m *ryxl 88 w Athnlrlstratrr. ft 1$ to over 8811malè all that she has dc
fty Tho Ncrfol( B(At thrtwtrK#Jt thot Ilme. s￿ ha¥ been the ho#rt*at of th8 C￿nty. FthlnaI￿ has
This is the 4(Ih kniivefsary of th• of The Nrrfo* Boat *4th 'Spiiit of Bo&11￿. by Andrgw Cuthb
1rf8ThJ8. In that Ume, tr#JA•xls of poc* havo t19￿ wnrnoa9Jrably in tr￿1r *TII belw aTrJ
d6velwn*rt by thelr exwlw• t*lth The Ncrfolk 808t. Wo ve In 8 FO￿tion and d8tomiln•J lo t#Jlld c41
that1808￿.
Narne of Grwllftdhtd￿1
£1.5(Kl
13
Current YE 31.12.2021:
Name crf Gwnndi¥idu81
Futuro EthJcab"on
Nane of Salllng
Cinkn Saling T
cir￿ Sailing TnAt
￿ling TnL8t
Fli8 P Curt
Dote.. Li
Page 2

THE NORFOLK BOAT (SAIL TRthIING) upArrED
(A C￿npOnY Ilmtted by gwararrt••)
FOR THE YEAR ENDED 31 DECEMBER 2ty21
Tho TNstee8 present thelr arnual retmyt Imth thg finaKaal slatemwts of the ￿1p8￿Y for tha year 1
January 202110 31 Dec*mbef 2021. The reFrtyt Se￿65 the pJrposes of both a Tn*' rerLJ18NI a
tho th¥hable C(￿panY Ixth￿Y Vffjth the #atsrtryy rwuirements. the requirements of the r*wltabie
L￿mp￿nIS gOv￿1￿j the K¥0vwu￿ Lrf thè Sl8twrt•rt of R￿)M￿¥￿j {SORPI
apFll￿t4e to Ltsibes KryariTrJ thelr acaxffts in acfgYd8rTh *4th thg FinwKx•I st￿ applIc4￿?
in Ihe UK av¥J R￿1¢ of Irel￿d (FRS102) lett•￿8 1 knuary 20191.
Slnce ryjmpwry qualffjos 85 wrfjer so(*i(m 382 crf the C(wnpani&s Acl 2￿. the Strategic roF4Jrt
required ￿ m&lii*m arKi IwJ8 c£wnp¥dos uThJer th8 CCffipw)￿ ￿ 2fKAS {Strotegic Rep￿t aTrJ DI￿lor$.
Report) RwJLtlatl(xis 2013 Iw (ynllled.
Polldu obJ•dlv••
In 80thrvJ (*4•thes and Ic* &#￿￿)88. Tntstegs havo uiv8n due Mid￿on lo ￿er￿1 guldar
publlthed by th& Ctrwity C<rnrnlaqlM b•r*fiL indudlry lh• 9￿danC*.pUblltt bW￿fft.' nuN￿ng 8
arfty IPB21'.
ovllon ol the opwtunty to so11 vitth ASTO vamels help5 to dweky tho bw*fidary In 9gveTrl *oy8. A3
pyovldkng a t￿)00 crf tall e&08m thgt mlgm h￿8 l•(*lro rrnbou8ly. r¢ 0180 wovldes the bas18. thm
RetK¥ts frcrfn a Var￿ of Indudirfj Iho Poli￿. Firo Sorvl¢*. Sc*Kds aTrJ Sod•l S8Nl¢x as Vffjll
Norfdk Boat provldos
A• a rB#ull d th• C￿￿1r¥i￿ Imp•d crf ts Cth*1&19 pAThJ￿n￿ CA* fi¥9 voyap95 athleved In
2021 12020 - rAI voyages) at a cx>st Lrf £3.rn (202￿ £nil). Thern was Tr) 1￿M81 fuTrlralsiry in 2021. tmrt
dLYb8tlcfi8 (rf £8,11012020 . £6.4*2) reCdV￿I. Thern 18 litlle th￿bI tr￿1 The NorfrAk Boat l¥
Flmnelal r•¥l•w
*. Golng ¢anc•m
O￿ti￿je to the bas In w8KwiThJ fi￿la1 details rngwdiTrJ th8
adopts'￿ of ts goiry bads I￿n bg flxmd in ts a¢%￿nI1￿J pdicie8.
PwJo 3

THE NORFOLK BOAT ISAIL TRA•IING) UPArrED
(A campwry Ilmlt•d by war•nl*)
TRUSTEES. IIEPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
b. R••rn• poll
Th8 r￿panY has unrestrkl•l f8s8rves d £710,￿1 as al 31 D￿anb￿ 2021 {2020. £635.423). Thls swn ha8
arn hdd to the ol mules fmm ¢Th ￿ to 8ncAJ*r, to Fw*vJo the Inct¥no vAth vthich to a8
rn￿Y ￿Ur¥j rwAo as posslbl•. *wJ as a fin￿￿ThJ the calt crf •Jministratl¢￿ of th8 ttsnpany.
Thg Tru*ee8 ¢xJnlinug to m¢Mitry lh8 lovel ol rB8wves on a rnwlar bas14 aThJ wo ￿l￿ed that they are
fflclent to ma8t the larg•1 K¥trrfidir¥J Boc•J88 thé mWTty of the r8sgp405 are Inv88tad In the
st(K* Market to FfftNide 8 86CXVO tKrt h*Jh fvkl. there ￿11 b8 Irt￿1￿ xyno flu(aualion in the dz6 of th
Tho N(Ylolk Boat (Sol T￿Tr￿al Lfimliwj Is r•githd as a trrfnp￿ limltod by g￿rante8 and wa$ sot
up by a memLv*￿rn of As*jdth'￿ on 5 FebnJ8ry 1￿2 Is a fW8rod numb8r 28&305.
The prlndpd rtlect of th• cunF•ty l# to by Frfvdldiw or In th8 of OPFQrtunltièy for
the age (rf fivo, (Y (ver tho age cl t• fTh6. have e fvlc¥l (K mwrtal ImrAlmignt
kh has a *A*tsnttal arKI t•fm advorn9 thelr rt411ty to effj r#Jt rmxmol daY.t￿laY activitlo5,
that they may to m•bffj as in¢J¥l￿ *KI cl
Tho (QrnFWby 4YAwn to bec4ng <¥￿ membws of Sall vo1*1s bglwlng to
94￿8atIOr* arg mombw8 of thg A8s00a￿ of TralnSr& t￿￿$010n$ (ASTO> by wt*id181rffj thoir
PolldM adoptsd forth• In￿￿10n and tralnlno of Tru•1
P¢Xgntlal Truths are a[vr4th￿I ty an exi#iw memb8r of Board. arKJ thelr WDWive rolo is dI8￿SEed.
The existing TnJBlaes lsxl( lo r￿￿1t ntrw Tnth ￿ a volunw bas1& have ewienrn in oithor $911ing.
trrtjslnw ￿￿la1 sWvI￿ or to￿*M￿ rrn A yospthe Tntstee Is ncmninated 8t a Trustse meetlng
arKI must be by a sgrmficant maicth to be aFwinted. pri￿ to ap￿IntMo￿ tho President of tr* Chwity
Page 4

THE NORFOLK BOAT (SAIL TRAININGI uMrrED
(A company Ilmtted by guarartwl
TRiISTEES' REpoirr {COlfflNUEDI
FOR THE YEAR ENDED 31 DECEMBER 2021
in place to mltigate those li*& The pylncipal risk is fin¥￿1 allhw therè Is a furlher ii¥k asgJ(xalad vAth the
T8￿rtatI￿ d Thg Nc*ldk 80oL 11 Is essenlial to Mainl￿ the iattw rf fijrhknsing is to be Wc￿&$[U1 and If
applic*nts for sp￿￿r￿1p are to cJ)me lowd.
Gwlial aThJ IrK¥Jllg. Thtr wfLvmarvx of th• StL*a ma￿81 *ill diredy (m the of thè e4)mpanl8
Inve¥tsnent. Intorest roto& in ￿ far 88 affed s￿Ir￿S rates. *lll have & slgnlficant impa(a ¢)n the Com[￿1￿8
Inc(Yne. Mean￿￿lle the rowia8 we to thi1h￿ a 141 In Stoc* Markel valualK>n$ 4rMI a
d1mlr1Jti￿ in inC￿m0.
PA•mb•rn' IWAI
The (x)mparby Is a rwJl*w¥d ¢tsrfty Iknlw by the gJrnto9s d Its m8mtm, havo wwont6od a
m rlot eX￿d1Th3 £10 pw mombw. Thwe ve 28 mwntM&
Dlltrlbutlon ¢rf Incom• and ••••ts
fcrfth in tts MoM￿n￿m Arld88 cl Aryxagallon. N(Th d th8 In¢rAne (rf th8 ttAnpany may bg
dl•tributed to its m•rnbws by *•y of dividw￿. bcfiu6 ￿ othor f(*m of FKofiL
Dotslls of the Trnst6os, tAtK) ar• 01 m6mbw4 tAtho sgrvthl the yow Iw bo fa￿d ¢Jn p4e 1.
In 8CUydan￿ *4th tho Mhles P Cwl. M P a￿1 A D H4)t rellre fr(vn offlc• In
*ith the n(xmd ￿Ual r[tsti￿. C E S Allen *•s 8K¥x4ntwJ a dlrwaor on 5 lJd(thr 2021 aTrJ A S
Bartram arrfl R S Thornp￿￿ aFvxnted dlreclLn ￿ 5 WI 2￿22. hJl of the at￿¥￿. b*ng ellgltye, a
IntgTrthng to offor them89fv95 for rMled1c￿ at Iho forthcomlrN knNal GOnW￿ Meeting. Roar Admlral R B
Lees and 8 J Landalg aB dirn¢lLY8 ￿ 20 20218Th1 S B Cuth as a ithrgL*or on S Wl
2￿.
Pag8 5

THE NORFOLK BOAT ISAIL TRAINING) uMrrED
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
The Tr￿tee5 (*h) are also the dlrectorn of the u)mp*ry f(Y the 0>n￿Y lawl responsible for
prnporing thg TnJsto8s' the In tmth 0￿14r￿A8 law and Unitod
law, the must the finwK4al *ateM￿ urkn they aro sa11sfi￿1 that they gfve a tru8 and
lalr VI￿ of the stats ol aff•Ys of ￿ c(rfnpwby of Éts iThx¥nSw resou￿ ￿Flic8110n ol rnsww,
Indudln9 110 In¢(wn• r￿j •xp*thn. fry thal pwlrAI. In thejo #atomenN the Tritst885 are
Ob￿￿6 the mothc¥Js aThl ￿1ndp1a$ rf thg Ch•ities SORP IFRS 1021.
state UK Stw•Y¥ds {FRS 102) have t)88n fdltra•d. to ony
compw Th411 clxytinue In txtslna
TnAta8$ resp(YMit4a I￿ koerxrwj rwxYd8 tr￿t Nrffidwrt to ah¢Jw ar¥J aXFAain
c<Jmpany and anaL48 thom to 8nsurn that tho finwKi•l comt*y *lth the Crynpanles Act 2¢J)6. Th8y
AJ Cuthb•rt MBE
Pmdent
Page 6

**THE NORFOLK BOAT (SAIL TRAINING) LIMITED (A company limited by guarantee)** 

## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2021** 

## **Independent examiner's report to the Trustees of The Norfolk Boat (Sail Training) Limited ('the company')** 

I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 December 2021 

## **Responsibilities and basis of report** 

As the Trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). 

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 respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. 

## **Independent examiner's statement** 

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 

1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 

2. the accounts do not accord with those records; or 

3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or 

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached 

This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report. 

Signed: 


Christopher Yeates FCA DChA 

Larking Gowen LLP Summerhill House 1 Sculthorpe Road Fakenham Norfolk NR21 9HA 

23 May 2022 

Page 7 



THE 14ORFOLK BOAT (SAIL TRAINING) UMITED
(Ar￿￿1•￿ Ilmlted by gu*Thntwl
STATEMEKf OF FINANCIAL ACTMfiES OIICORPWTING INCOME EXPENDrruRE ACCOUNn
FOR THE YEAR ENDED 31 DECEMBER 2021
Total
fund•
20
fund
2020
Nat•
In¢om• from:
8.110
18,336
(110
11336
6,462
16.654
Invosbnonts
Totsl
26,446
446
2aii8
EAP•ndl￿rn on:
$314
4314
5,156
13.176
13.171
&156
13,270
13.270
61,108
17,960
(31,842)
Ngt wn&llloMe8) (Jn kn¥8th￿ts
N•t mOvwT￿n1 In fvnd•
74on
7&078
(118
R•conclllatlon of fund•:
furth tThoht for*Brd
N8t m(Nwnent In
649,305
(13.88
75,on
75.078
no.5
710.$01
635,423
Tho ncles ￿ pages 10 to 14 fonn pBrt of th880 finwKag1 ststwnw
Page 8

THE NORFOLK BOAT (SAIL TR￿mING) Ulrn
(A CoM￿nY Ilmlt•d by guarnntso)
FOR THE YEAR ENDED 31 DECEMBER 2021
2020
Invesknents
519.Tn
449,391
519.TT7
449,391
Cagh at bart and In hw
191341
183.602
187,952
Crnjftors arno￿￿ falirvd <kn *lthln LY
11,974)
(1,920)
1g0,n4
186,032
Talal ••••l•1o• curr•nl Il•blllll••
710.501
635.423
710.501
635.423
Charlty fund•
710,501
5,423
Totsl fund•
710.501
635,423
Tho mombgrs hav8 rBquSrod the axnpvry to ithin ￿ •AlI for thg in qu8th In acc￿d￿ *llh
li¢Jn 476 of 2Cth.
tho small Gomp￿108 regime.
A J Cuthb•rt MBE
Presdent
Date: L i
Ils Honour P Cu
The n(rteS F4ges 10 10 14 f(xm pwi these fin•KAal
Page 9

THE IIORFOLK BOAT (SAIL TR￿ING) U￿￿ED
NOTES TO THE FIIIANQAL STATEIAEP￿S
FOR THE YEAR ENDED 31 DECEMBER 2021
Tho Ncrfdk Boat (Sal Tr￿ring) LIMI￿ is a chwTIth CoMp￿Y limltod by guarth and
in ErMJlwMJ and W*s. rtyl*rn1k￿ 01611W2. The office 1$ Ballythfft. FW DalliTr3, HolL
NcrfolK NR25 7LQ.
Thg c•mpary is a Ilm1￿ by Tho m*nbws crf the Ccthp￿Y IrK4udes the Tntst
n•n•l on p*Je 1. In the event ofthe up. th8 IkatAUty In 104xi of the guarantsb IS
Ilmllod to £10 per momber clthe (x#npwry.
￿%%M￿rt6￿j KxIiu8s In thè wopwati(x) 01 Ihè8é flnwKial statements arg lot out
¢oyDtlng pollcl••
arfng thelr in **lh the FIn￿81 Rwtlrwj Stwmlwd app1ha￿a In the UK
and Reput4ic of IrBlond {FRS 102) (off•￿1¥8 1 JanU￿Y 20191. the FSnar)(aAI RewliThJ Standard
aw1.￿ in th8 UK w¥J crf Ir8l*MI IFRS 1021 cI¥np•￿ 2(Th.
Thg NL¥fLqk Bolt (Sam Tr*f¥TrJ) LimNod m88ts the defirltkffi of a publlc berth ffi u￿19r FRS
102. knets and liaiilittw are In611aly rawJ￿￿1 at or tran8th value unles8
othw*l8e 81ated in th8 acoyjnllw k￿ley.
IJ In¢om•
Al in(ximo is rwi*l the c(Ynpwy has enlioement to thfj IrK¥￿e, it Is prDbable that lh8
incx￿O tA411 be recaved w¥1 ts am¢x*it rf Intsjnè (¥n b8 me8wrwi ￿laLly.
Income lax r8covwable in to invothwrt I￿￿19 15 re(x>gr*s&l at the timo the Investmwrt
IncAJMe is receivable.
Page 10

THE NORFOLK BOAT {￿JL TRAMING) UPArrED
(A c(xnpany limltad by guaraDts•)
NOTES TO THE FIMAPICIAL STATEME1￿5
FOR THE YEAR ENDED 31 DECEMBER 2021
ountlng pollcl•s le4)nUn￿l
Exp•ndllur•
benefft to a tt¥Td [￿. It Is I¥￿￿e that a tr8r*fer of banoffts V•ill L* rgquirgj In
sdttwnent •JMI th8 8m¢yJrt of the L*llgthi ￿ b8 mowrnl rBlialAy. EXw￿ltijro is da5￿fi9d ty
activity. Tho ol each up of ts t￿al Lrf Qxls aThY c4Jsts.
Induding 5UFPYt rL*ts Invofvad in UlKlwtsklNJ aclivity. DiTe& fjJ8ts oltsibulablg to 9 si￿0
tivity arg all¢xatsd d¥ecUy lo that adivlty. Shared cx)sts *knich cx￿trO￿Ajt8 to more aclivty
vlties ￿ a basis cfjnslstorrt th8 of res(ww. C￿traI *aff c£6ts arn albocatwj cn thè
b&sls of Ome SFrt arKI dwe(iatiw c* all￿At￿l M the wtion of tho as8eV8 U8e.
Al expwthr• l• Induslve of irro(xN•th VAT.
Intwest on ftTh18 hdd Is ThI￿n recdv8tle Ihg am￿nI can be M￿sured
reliaily by tha cl)mp￿. It¥5 bs nomially n(knfiL¥tion of ts Internst p#bd or phy￿0 by th8
FIX￿ a88Ot InveslJDwts are a fLYm (rf fin￿1￿ Ir￿n￿n￿rt Inttlally ro(¥r￿Sed at thelr
transathon WKI ￿￿nVY at falr y￿u9 al th8 dalo. Unle￿ Ihe
value c•nrnt bg mgjwrnl rnli&Yy in Ththl(* It18 moagJTOd at ¢￿t IMS ImF4lrmont. Investment
gains and losx Toallsed ry umlised. arn C£#m￿l￿d a￿1 as'Galn¥{Losse•)
Invg*n•nts' In the Statom•nt of finwwl aLlivili
2.7 Uablllllv Ind provl•lo
Li8billtS88 ara rocogni8ed th￿013 an 014lgation at thè Bal¥￿ dato as a rBsuIt of a wt
Ovont. it Is that a trnnsfw cl ￿)DmiC Vbill be In 59ttlemgnL and th•
arnounl d the sdY8m8rrt c*n bg rnli8tty.
LWHlos arn rBaydsod at the th•1 th8 a)mI>￿ anlldpat88 It VAII pay to Bello the debt or
10 Fund *cGountlng
luThl8 arn fixwjs Th+** av8118L48 f(Y u¥e at the dtsrnllon of the TMtees in
Page 11

THE FIORFOLK BOAT {8AIL TRAWING) UMrrED
Ilmlt•d by guarnnt••l
NOTES TO THE FINANCIAL STATEMEpirs
FOR THE YEAR ENOED 31 DECEMBER 2021
nd•
fund•
2021
2020
IncLYnO ftom Ilthd inveslrnw*s
Inveatmert Inrx*m8. Inlgrnjt
17.TJ7
17,n7
14.224
Z430
18.336
18.336
14654
8pon•ornhlp
tknrvJ JJ21. tho dwity 5 voy8908 (2f20 . 0) tr¥inlrvJ LYu1886 •thldl*ng Ihg fee8
Total
fund•
f•Jnd•
2020
cl￿ S￿1[rvj TnAI
Own Youth Tnjst
2021
2020
1.776
Pap 12

THE NORFOLK BOAT (SAIL TRAINING) UMrrED
Gompany Ilmlt•d by guarant•¢l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
t￿ri￿J the thmled 31 D￿b91 2021. r#) TnJsl•o expwYJ8s h•va begn In(yxrod (2020. £NIU.
At 1 Jww2021
449.391
33.013
1248191
62,192
Revalua11￿
At 31 D￿￿be1 2￿1
519,7n
N•t bgok v4lu•
At 31 De(￿b¥ 2tr21
519,777
449.391
Cr•dltor•: Amounts falllng Thlthln on• y•v
2021
2020
1.920
13

THE NORFOLK BOAT ISAIL TIIANING) UMrrED
PIOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEIIBER 2021
• Twsto9 aThJ the PrnsidenL thg ￿ the rncthtrti £1.720 (2020 . £1.554) for •Jmiri*rntlvo
Dwing lh8 ￿, Mr R Le84 thg xyt cd Refflr Athilf81 R B L￿$ a Tntstso fc¥ part of the year.
VAS pakl 01 £485 {2020. £330) lorthe of tr￿ng servic0&
th8 G(Yth￿ R￿1. th• (rf Tn•tse A P Roydl. P*￿d￿0￿ in a wb&dl8ed voyagg.
a**nJ m•Ye LMlTrJ I￿ 4VDvwJ uitwia for swi>>ship •vJ did rKrt In any
ejw11￿ ¢Xhw aFWI(*nt&
P￿e 14