**Registered number: 01611892 Charity number: 285305**
## **THE NORFOLK BOAT (SAIL TRAINING) LIMITED**
**(A company limited by guarantee)**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **THE NORFOLK BOAT (SAIL TRAINING) LIMITED**
## **(A company limited by guarantee)**
|**CONTENTS**||
|---|---|
||Page|
|**Reference and administrative details of the company, its Trustees and advisers**|1|
|**Chairman's statement**|2|
|**Trustees' report**|3 - 6|
|**Independent examiner's report**|7|
|**Statement of financial activities**|8|
|**Balance sheet**|9|
|**Notes to the financial statements**|10 - 14|
## **THE NORFOLK BOAT (SAIL TRAINING) LIMITED**
## **(A company limited by guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Trustees**
A J Cuthbert MBE, President His Honour P Curl DL, Chairman S G S Allen, Treasurer M P Blakey MBE C E S Allen A S Bartram (appointed 5 April 2022) S B Curtis (resigned 5 April 2022) W N Darby T M Hayward A D Hunt A P Royall R S Thompson (appointed 5 April 2022) J R Woodhouse
## **Company registered number**
01611892
## **Charity registered number**
285305
## **Registered office**
Ballyduff Field Dalling Holt Norfolk NR25 7LQ
## **Company secretary**
A J Cuthbert MBE
## **Accountants**
Larking Gowen LLP Chartered Accountants Summerhill House 1 Sculthorpe Road Fakenham NR21 9HA
Page 1
THE NORFOLK B(k4T (SAIL TRAlG) LIMITED
IA canpany lim*ed by guaArte•l
CHAIRIAANE STATEMENT
FOR THE YEAR ENDED 31 OECEMBER 2022
The ChaIan rnsents his slalemert for the year.
l am pleased lo rewl that The Norfolk Boat CrtinS lo thrive after the drffitts c4wd by Covkl. In 2020,
for obvlous reasons. thern vffjre no voyages al 811" in 2021 we sponsmy 59 youThJ people 8nd in 2022 thal
numter rose 10 140 lor a ti>tsl sWmsohp oi £21,$43. Wknilst nrA yet back to pre-PWKlemic levels
(a(wthximately 200 furmled a ye8r). this is neVertts1 an impwve fManCe at a time of natv)nal
fill81#1 uncertainty whKh imp8(Xs in a number of ¥rdyS on Sail Trnliing.
Thaffks to go sttrwanJ5hip. The N(%folk 8oat¥ ¥emAln mixffjl aNI strLW. I woukj particulady wish lo
express my Ihank51o all Membern a1 lo those rJ1Y d818 10 the Char*y.
The Trnsthes tnue to expArrfJ they efforts (for exoryle thmwh the use of IT ) lo klentify aryj
ommunicAe wllh yourwJ poople wish lo benefft from the lf-cOnfJen¢a, dlsclpllne. teamwork 8nd sheer
enioyfflenl whlth thesè voyw ttwJthwJer. Ric1¥ja (frustee) IAS been particularty successful in
recrnltlng yourwj FffjAe Irom the Wels are8.
Feedtjack conlinu8s lo bts extr8Thty W've wih rngular eonjnerts fmm parents. teache. Youih Le*Jers and
the youna [? themselves. the lines of Thnk you so ffluckn for providing such a lantastic opw>rtunity.
We could never have funded thtslrip on ow It h&$ t*en an experi8tKe of a lifeknme..
11 Is a pArbcul8rty pleasure to rert th81 Vho chbeTl Awarfl. wll be pr8S6rted al thè erd of the 20ZJ season
lor the fir* ts'me. lo the youThJ cre* member of the yew This Awarf is in rec(gnition of the
Ly)ntrfbuti by knjrew Cuthb8rt aNI Alex Bartrwn f¥st laLff*iro and then suslainirwJ The Norfolk Boat over
morg than 40 yeats.
Finally I would *tsh to thank all the Tnjstees lor Ihglr supF#>1 T*lse •J¥i durirvJ the l•st 8 ye8rs
has been my rrflvllege lo be ClM18n. l am del*Jht&J Ih81 Anthony Hunt has aareed to take over from me.
Anthony been an aclNe and supwrtive Tnjslee of the Charity for many yeaTr as W11 85 # generous donor.
l am SU he wll t)rtTrJ 8 now energy arm1 vision to The Norftslk Boat in the mIj years and th81 the Charity
11 benefft greatly from Trls hand on Il* liller." I
The Trustses hav• pleasurn in ryesentirwJ thw Rep)rt and A(£rts fof the yegr enthd 31 December 2022.
HIS Honour
chaian
Date..
udDL
Page 2
**THE NORFOLK BOAT (SAIL TRAINING) LIMITED (A company limited by guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
The Trustees present their annual report together with the financial statements of the company for the 1 January 2022 to 31 December 2022. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
## **Objectives and activities**
## **a. Policies and objectives**
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
In meeting the company's objectives to reach a wide cross section of the public, there is no doubt that the provision of the opportunity to sail with ASTO vessels helps to develop the beneficiary in several ways. As well as providing a sense of self esteem that might have been lacking previously, it also provides the basis, through personal development, for the individual to become a better citizen thereby benefiting society as a whole. Reports from a variety of sources including the Police, Fire Service, Schools and Social Services, as well as anecdotal evidence, have underlined the significant public benefit that accrues from the sponsorship that The Norfolk Boat provides
## **Achievements and performance**
## **a. Review of activities**
Ten sponsored voyages were achieved in 2022 (2021 - 5 voyages) at a cost of £21,543 (2021- £7,792). There was no formal fundraising in 2022, but donations of £6,396 (2021 - £8,110) were received. There is little doubt however, that The Norfolk Boat is held in high regard locally and should the need arise, formal fundraising could generate more donations.
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Page 3
## **THE NORFOLK BOAT (SAIL TRAINING) LIMITED (A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022**
## **b. Reserves policy**
The company has unrestricted reserves of £661,300 as at 31 December 2022 (2021 - £710,501). This sum has arisen from prudent investment of surpluses when these occurred and a sound investment policy. The reserves are held to smooth the flow of monies from one year to another, to provide the income with which to sponsor as many young people as possible, and as a means of financing the low cost of administration of the company. The Trustees continue to monitor the level of reserves on a regular basis, and are satisfied that they are sufficient to meet the target for providing sponsorship. Because the majority of the reserves are invested in the Stock Market to provide a secure but high yield, there will be inevitably some fluctuation in the size of the reserves
## **Structure, governance and management**
## **a. Constitution**
The Norfolk Boat (Sail Training) Limited is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 5 February 1982 and is a registered charity number 285305.
The principal object of the company is to advance, by providing or assisting in the provision of opportunities for sea training under sail, the education and physical, mental and spiritual development of young persons under the age of twenty five, or other persons over the age of twenty five, who have a physical or mental impairment which has a substantial and long term adverse effect upon their ability to carry out normal day-to-day activities, so that they may grow to full maturity as individuals and members of society.
The company sponsors young people applying to become crew members of Sail Training vessels belonging to organisations which are members of the Association of Sail Training Organisations (ASTO) by subsidising their fees payable. The company also collects contributions from such young people on behalf of those organisations.
## **b. Methods of appointment or election of Trustees**
The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.
## **c. Policies adopted for the induction and training of Trustees**
Potential Trustees are approached by an existing member of the Board, and their prospective role is discussed. The existing Trustees look to recruit new Trustees on a voluntary basis, who have experience in either sailing, business, social services or teaching young persons. A prospective Trustee is nominated at a Trustee meeting and must be agreed by a significant majority to be appointed. Prior to appointment, the President of the Charity briefs the new Trustee on the purpose and workings of the organisation. Trustees are not paid.
Page 4
## **THE NORFOLK BOAT (SAIL TRAINING) LIMITED (A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Structure, governance and management (continued)**
## **d. Financial risk management**
The Trustees regularly review the risks to which the company may be exposed and can confirm that systems are in place to mitigate those risks. The principal risk is financial although there is a further risk associated with the reputation of The Norfolk Boat. It is essential to maintain the latter if fundraising is to be successful and if applicants for sponsorship are to come forward.
The financial risks, although currently not considered to threaten the objectives of the company, relate both to Capital and Income. The performance of the Stock Market will reflect directly on the value of the company's investments and the Trustees are mindful to ensure an appropriate balance between different types of investment. Interest rates, in so far as they affect savings rates, will have a significant impact on the company's Income. Meanwhile the reserves are sufficiently robust to withstand a fall in Stock Market valuations and a diminution in income.
## **Members' liability**
The company is a registered charity and is limited by the guarantees of its members, who have guaranteed a sum not exceeding £10 per member. There are 28 members.
## **Distribution of income and assets**
The income and property of the company shall be applied solely towards the promotion of its objects as set forth in its Memorandum and Articles of Association. None of the income and property of the company may be distributed to its members by way of dividend, bonus or other form of profit.
## **Trustees and their interests**
Details of the Trustees, who are all members, who served during the year can be found on page 1.
A S Bartram and R S Thompson were appointed directors on 5 April 2022. In accordance with the Articles of Association A P Royall, W N Darby and S G S Allen retire from office by annual rotation. All of the above, being eligible, are intending to offer themselves for re-election at the forthcoming Annual General Meeting. S B Curtis resigned as a director on 5 April 2022.
The Chairman His Honour P Curl DL proposed that A Hunt should take over as Chairman in 2023, this proposal was agreed. His Honour P Curl DL is to remain as a Trustee for a further year to ensure a smooth transition
Page 5
THE NORFOLK BOAT (SAIL TUNING) upwfED
(A ctynpwry Ilmll•d by guarants•l
TRUSTEES. REPOIU {CONTINUED)
FOR THE YEAR ENDED 31 DecEIIiBER 2022
The TnL*es 8rg a0 th• dir•¢lcrfs of the rXrfnp rMxw>$6s of cxxnpany lawl are re$FstA8 for
Bng the TrLOtoos' rgpxt the finwoal Statts in a(x>JdaTrx *ith applicatrle W and United
Inn AL¥xwntir¥J S&fwJwds Iunttod lQrw•Jun Goneraly Ac4xW knXting PrJL*cel.
Trustees must rKrt aFyDve Ihe finwKxal &atements unless they arg Wisfied that thay givè a truè and fair view
of the state of 8ffalrs of the a)rnF of ts in(wirvJ resour5 apF4ic4tson of r8sourrM, indudiTrJ Its
Intxffie arml exF¢nthbJfe. for th81 pthj. In pr¥pwiry these finwrial ernerrt$, tha TN8tees arè rewired lo:
otrAervg thg mgthc*ds and WiThiFd•s of tho ch0$ SORP {FRS 1021;
stalg awlicat4e UK Acc¥tIftg (FRS 102) have bgen folk>wJ, subject lo any
mataf1 deportures dix4co8d and explained in fi(la1 ements..
pyopare thg financial sl8tam•nts the grj cOreM ba51s unless it is inapwoFrfi* to Wggjme that thg
{xrfnpY *ill ¢wtinuo in SIn05
the compan¥s transaCtIts thsdoge Thlth reas(th8 jrary gt any tsme the financial poslllon of thè
pany enatle thom to that the fin¥Kial ststemèrrts compty tArfth tho CcAnw)les Act 2006. They
arg 8180 r9$pL$ble fcff safe9J¥dlThJ the assets of the (X)mty hence tthr¥J r0asonag steps for the
ovthl by ofd*r of th8 rnbS of Ihe ixwd of T9$ on thelr bBI)41 by.
AJ CuthIrt MBE
## **THE NORFOLK BOAT (SAIL TRAINING) LIMITED (A company limited by guarantee)**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
## **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 2022
## **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: Dated: 4 May 2023 Christopher Yeates FCA DChA **Larking Gowen LLP** Chartered Accountants Fakenham
Page 7
## **THE NORFOLK BOAT (SAIL TRAINING) LIMITED**
## **(A company limited by guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2022**
|**Note**
**Income from:**
Donations and legacies
Investments
3
**Total income**
**Expenditure on:**
Sponsorship and crew fees
4
Governance
**Total expenditure**
**Net (expenditure)/income before net (losses)/gains**
**on investments**
Net (losses)/gains on investments
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2022**
**£**
**6,396**
**20,023**
**26,419**
**21,543**
**5,401**
**26,944**
**(525)**
**(48,676)**
**(49,201)**
**710,501**
**(49,201)**
**661,300**|**Total**
**funds**
**2022**
**£**
**6,396**
**20,023**
**26,419**
**21,543**
**5,401**
**26,944**
**(525)**
**(48,676)**
**(49,201)**
**710,501**
**(49,201)**
**661,300**|_Total_
_funds_
_2021_
_£_
_8,110_
_18,336_|
|---|---|---|---|
||||_26,446_|
||||_7,792_
_5,384_|
||||_13,176_|
||||_13,270_
_61,808_|
||||_75,078_|
||||_635,423_
_75,078_|
||||_710,501_|
In 2021 all income, expenditure and net losses on investments were unrestricted.
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 10 to 14 form part of these financial statements.
Page 8
THE NORFOLK BOAT (SAIL TRAINW4G) upArrED
(A company Ilmlted by want••)
FOR THE YEAR ENDED 31 OECEMBER 2022
2021
Invethants
519. T77
461600
519.7n
Cun•nt asmts
ProFwents
Cath at and in hwNI
350
192348
192,698
Credltor& amounts fallw dug *thin
148)
(1.9T4)
N•t cuff•nl ••••t•
198,701
190, T24
Totsl a••ats l•M curr•nt Ilablllll
661.301
770.&)1
Talal n•t *•Mts
661.301
rio.501
Charfty fund•
UnT8Strictod
661.301
710,501
Totsl fund•
661.301
710,501
The tpanY tK4$ enlitlgd to exwnplI If1 urmjw 47T of the C(xnp8nigs Ad 20Cffj.
The members have not requOr&l the to cthln thg year In que*ion In actxrdarKg wlth
EerAon 476 crf Cunpath 2{.
the *nal ccrfnpani88 reglme.
Th6 finarthl *t8rn awoved a)d ault#yised fty i8w8 ty th8 T(tea8 and on their behdf by:
A J Cuthbert MBE
Dat8..
The nctss on pages 10 to 14 f¢Jrn p8rt d these finwaal statem
Page 9
**THE NORFOLK BOAT (SAIL TRAINING) LIMITED (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1. General information**
The Norfolk Boat (Sail Training) Limited is a charitable company limited by guarantee and incorporated in England and Wales, registration 01611892. The registered office is Ballyduff, Field Dalling, Holt, Norfolk, NR25 7LQ.
The company is a company limited by guarantee. The members of the company includes the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company.
The financial statements are presented in sterling which is the functional currency of the charitable company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Norfolk Boat (Sail Training) Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
## **2.3 Income**
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Page 10
**THE NORFOLK BOAT (SAIL TRAINING) LIMITED (A company limited by guarantee)**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **2. Accounting policies (continued)**
## **2.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
## **2.5 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **2.6 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.
## **2.7 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **2.8 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
Page 11
## **THE NORFOLK BOAT (SAIL TRAINING) LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **3. Investment income**
|**Unrestricted**
**funds**
**2022**
**£**
Income from listed investments
19,013
Investment income - bank interest
1,010
20,023|**Total**
**funds**
**2022**
**£**
**19,013**
**1,010**
**20,023**|_Total_
_funds_
_2021_
_£_
_17,737_
_599_|
|---|---|---|
|||_18,336_|
## **4. Sponsorship**
During 2022, the charity sponsored 10 voyages (2021 - 5) on youth training cruises subsidising the fees payable by the participants.
|**Unrestricted**
**funds**
**2022**
**£**
Cirdan Sailing Trust
5,850
The Excelsior Trust
10,243
Pioneer Sailing Trust
1,800
Adventures Offshore
-
Sea Change Sailing Trust
2,500
Jubilee Sailing Trust
1,150
Ocean Youth Trust
-
21,543|**Total**
**funds**
**2022**
**£**
**5,850**
**10,243**
**1,800**
**-**
**2,500**
**1,150**
**-**
**21,543**|_Total_
_funds_
_2021_
_£_
_5,400_
_1,500_
_-_
_592_
_-_
_-_
_300_|
|---|---|---|
|||_7,792_|
Page 12
## **THE NORFOLK BOAT (SAIL TRAINING) LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **5. Independent examiner's remuneration**
|**2022**
**£**
Fees payable to the company's independent examiner for the independent
examination of the company's annual accounts
**2,010**
**6.**
**Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits_(2021 - £NIL)_.
During the year ended 31 December 2022, no Trustee expenses have been incurred_(2021_
**7.**
**Fixed asset investments**|_2021_
_£_
_1,835_
_- £NIL)_.|
|---|---|
|**Cost or valuation**
At 1 January 2022
Additions
Disposals
Revaluations
At 31 December 2022
**Net book value**
At 31 December 2022
_At 31 December 2021_
**8.**
**Creditors: Amounts falling due within one year**
**2022**
**£**
Accruals and deferred income
**2,148**|**Listed**
**securities**
**£**
**519,777**
**74,429**
**(83,363)**
**(48,243)**|
|---|---|
||**462,600**|
||**462,600**|
||_519,777_|
||_2021_
_£_
_1,974_|
Page 13
**THE NORFOLK BOAT (SAIL TRAINING) LIMITED (A company limited by guarantee)**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **9. Related party transactions**
The company's self employed administrator, Mrs O Cabbell Manners, is the daughter of His Honour P Curl DL, a Trustee and the Chairman. During the year she received £2,000 (2021 - £nil). The administrative services were provided by Mrs A Bartram, the daughter of A J Cuthbert MBE, a Trustee and the President, in the prior year. During the year she received £Nil (2021 - £1,720) for the services.
Page 14