**REGISTERED COMPANY NUMBER: 01872144 (England and Wales) REGISTERED CHARITY NUMBER: 292216**
**REPORT OF THE TRUSTEES AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021**
## **FOR**
**THE WHEELYBOAT TRUST**
GMP Audit Limited 82 High Street Tenterden Kent TN30 6JG
**THE WHEELYBOAT TRUST**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 8|
|**Report of the Independent Auditors**|9 to 11|
|**Statement of Financial Activities**|12|
|**Balance Sheet**|13 to 14|
|**Notes to the Financial Statements**|15 to 20|
**THE WHEELYBOAT TRUST (REGISTERED NUMBER: 01872144)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2021**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2021. The trustees have adopted the provisions of 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).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The Charity's objectives and the principal activity of the company continues to be that of developing, building, promoting and supplying specially designed boats for use by people with learning, sensory and mobility impairments. Wheelyboats enable their users to participate in sporting, educational, recreational and therapeutic activities on waters across the UK benefitting their mental and physical health and well-being.
## **Significant activities**
The principal activity of the Charity is to help public waters, groups and organisations acquire Wheelyboats for the benefit of their disabled visitors, members, beneficiaries, etc. It does this by raising funds in order to substantially reduce the capital cost of acquiring Wheelyboats and thereby aiding and encouraging the maximum provision of the facility nationwide.
## **Volunteers**
A large proportion of Wheelyboats operating in the UK rely heavily on volunteer support. For example, canal trusts, Sailability groups and angling clubs that operate Wheelyboats are run entirely by volunteers. The Tees Wheelyboats Club in Stockton, Overwater Wheelyboat Project in Cheshire and Wallingford Accessible Boat Club on the River Thames were set up by volunteers with the specific aim of operating their own Wheelyboat. The Charity can call upon the services of several volunteer helpers to provide assistance at shows, demonstrations and events.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
Eleven Wheelyboats were supplied to projects during the year bringing the total the Charity has supplied as at 31 March 2021 to 216. Two Coulam Wheelyboat V20s, a Coulam Wheelyboat V17 and four Coulam 16 Wheelyboats went to projects in Derbyshire, Norfolk, Nottinghamshire, Outer Hebrides, Oxfordshire and Co Tyrone. Four older Wheelyboats were refurbished and rehomed.
## **Fundraising**
All the Charity's donated income is the result of direct appeals to grant making trusts and individuals. No other material fundraising activities, except for the sale and purchase of Wheelyboats, are undertaken.
Page 1
**THE WHEELYBOAT TRUST (REGISTERED NUMBER: 01872144)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2021**
## **FINANCIAL REVIEW**
## **Financial performance**
In spite of the restrictions and challenges brought about by the Covid pandemic, the Charity's performance during the year was robust and its financial position has strengthened compared with the previous year.
The number of new boat projects brought to completion is down from twelve to seven year on year, reflecting the more challenging trading environment under Covid. The Covid restrictions curtailed Wheelyboat demonstrations, deliveries, launches, shows and exhibitions for most of the year. Enquiries for new boat projects have continued to be received, however, and the number of new projects in the pipeline is very encouraging.
Whilst the contribution from boat projects during the year was down compared with the previous year, the Charity was able to offset some of this impact by achieving savings in expenditure related to its charitable activities. In addition, total income from donations and legacies increased during the year compared with the previous year. During the year, Trustees undertook a campaign to raise funds that the Charity can use at its own discretion to support individual Wheelyboat projects, either at the front end to get them off to a good start, or at the back end to bring them to fruition. This has so far raised more than £45,000 and contributed to the overall increase in donations and legacies during the year.
The overall combined effect delivered £339,392 of total incoming resources (FY20: £403,209) and £284,015 of total resources expended (FY20: 374,312), resulting in net income of £55,377 (FY20: £28,897).
The increase in net income year on year meant that the Charity's net assets (total funds) stood at £209,973 at the end of the year (FY20: £154,596).
The Charity continues to monitor the fundraising and economic environment carefully. Shortages of and increases in the cost of raw materials and skilled labour are increasing boatbuilding costs. These cost increases will need to be mitigated through continued disciplined management of expenditure associated with charitable activities and efforts to increase the value of funds raised.
Page 2
**THE WHEELYBOAT TRUST (REGISTERED NUMBER: 01872144)**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2021**
## **FINANCIAL REVIEW**
## **Principal funding sources**
Grant making trusts provide the main sources of funding for the Charity, from specific projects to day-to-day running costs.
The Charity would particularly like to recognise the following individuals and organisations for their invaluable support:
Her Majesty The Queen 29th May 1961 Charitable Trust ALA Green Charitable Trust Alpkit Foundation Amazon Smile Ardwick Charitable Trust Army Welfare Grants Committee Arnold Clark Community Fund Astor of Hever Trust Bassil Shippam Charitable Trust Borrows Charitable Trust Brocklebank Charitable Trust Bruce Wake Charitable Trust Canal & River Trust Carsington Reservoir Fund Charles Dunstone Charitable Trust Clarke Charitable Settlement Dalgleish Trust David Laing Foundation Derbyshire Community Foundation Derbyshire Dales District Council Douglas Arter Foundation Enkalon Foundation Ernest Kleinwort Charitable Trust Fishmongers' Company's Fisheries Charitable Trust Florence Turner Trust Friarsgate Trust GE Ellis Foundation Gerald Micklem Charitable Trust Gilander Foundation Gilbert & Eileen Edgar Foundation Green Hall Foundation Grimsby Angling Club Groundwork UK (Tesco) Harold & Alice Bridges Charity Harkness Family Foundation HDH Wills 1965 Charitable Trust Helen Jean Cope Charity Henry Smith Charity Hugh Fraser Foundation Hugh Stenhouse Foundation Inchcape Foundation JR Corah Foundation JR Gibb Charitable Trust JTH Charitable Trust Ireland Roddan Trust Lance Nicholson's Dulverton Localgiving Lord Barnby's Foundation Manchester Guardian Society Charitable Trust Mansfield Building Society Marsh Christian Trust Meikle Foundation
Page 3
**THE WHEELYBOAT TRUST (REGISTERED NUMBER: 01872144)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2021**
## **FINANCIAL REVIEW**
Melton Mowbray Building Society Merchants House of Glasgow Mickleham Charitable Trust Middlesex Sports Foundation Millennium Stadium Charitable Trust MM Wylie Charitable Trust Mountbatten Memorial Trust Muriel Woellwarth Trust Norfolk Community Foundation Norman Family Charitable Trust Orrin Charitable Trust Rank Foundation RC Snelling Charitable Trust REF De Pass Charitable Trust Scott (Eredine) Charitable Trust Sir James Roll Charitable Trust Swire Charitable Trust TS Shipman Charitable Trust Thorney Island Sailing Club Thornton Trust Timothy Colman Charitable Trust Trusthouse Charitable Foundation Verdon-Smith Family Charitable Settlement WA Cargill Fund Wesleyan Foundation Whirlwind Charitable Trust WO Street Charitable Trust Woodlawn Trust
The Charity also offers its tremendous thanks to the many individual donors that contribute.
## **Reserves policy**
The present level of funding is sufficient to support the continued demands upon the Charity and is in line with its reserves policy which aims to maintain an unrestricted reserve of £50,000, equivalent to about six months' running costs.
Page 4
**THE WHEELYBOAT TRUST (REGISTERED NUMBER: 01872144)**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2021**
## **FUTURE DEVELOPMENTS**
The Charity will continue to promote and provide Wheelyboats to waters open to the public for the benefit of their disabled visitors for pleasure boating, nature watching, powerboating, angling, etc. and to help groups and organisations acquire Wheelyboats for their own use.
The Charity is currently raising funds to support projects in Cornwall, Co Fermanagh, Derbyshire, Devon, Dorset, Greater Manchester, Lancashire, Leicestershire, Powys and Stirlingshire (two).
The next new model in development is the Coulam Wheelyboat V24 and this is anticipated to be launched in 2022.
The Charity is drafting an Impact Report to highlight the role Wheelyboats play in the mental and physical health and welfare of their users. It will explain the importance of the Charity's work to supporters and other interested parties and help with fundraising and other campaigns.
## **Covid 19**
The restrictions all of us are now facing in our day-to-day activities serve to illustrate how disabled people feel when their local facilities don't include a Wheelyboat and they can't access the simple pleasures that waterborne activities provide. For those who are mobility impaired and those who have additional special needs, the freedom to enjoy independence and participate in outdoor activities, such as boating, alongside their family and friends is hugely beneficial to their mental and physical health and well-being. Lack of access for disabled people to these activities has isolated many from enjoying what the rest of us simply take for granted. Wheelyboats redress this imbalance and offer everyone the opportunity to experience life on the water. The lockdown is also having serious consequences in terms of isolation, anxiety, wellbeing and the impact on both mental and physical health of the disabled people Wheelyboats are used by. As restrictions begin to be lifted, the fact that Wheelyboats can operate safely as they typically involve only small numbers of people participating together will, we hope, provide isolated disabled people with an early opportunity to get outside and actively participate in healthy life-enhancing activities on the water.
The Charity will continue building its fleet to help disabled people when their local facilities don't include a Wheelyboat and they can't access waterborne activities. Its work is essential to improve the welfare of disabled people and the Charity has the physical resources to hit the ground running and accelerate new Wheelyboat projects as restrictions are lifted.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The Charity is constituted as a Company limited by guarantee, and is therefore governed by its Memorandum and Articles of Association, as amended by special resolutions in March 2004, May 2006 and October 2007.
## **Recruitment and appointment of new trustees**
The directors of the Company are also trustees of the Charity for the purposes of charity law and under the Company's articles are known as members of the Board of Trustees. Under the requirements of the Memorandum and Articles of Association the members of the Board of Trustees are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting.
The Board of Trustees includes members with specific knowledge and skills applicable to the requirements of the Charity. They are a broad mix of individuals with professional expertise and experience in the charity sector, media and public relations, marketing, finance, law, accounting and industry. Any future members will be required to have similar or complementary skills and be aware of the needs of disabled people in the context of the Charity's activities.
## **Organisational structure**
The Charity is structured so that the full Board of Trustees meet three/four times a year and at the Annual General Meeting of the Company. The day-to-day governance of the Charity is the initial responsibility of the Board of Trustees with two sub-committees, Finance & Boat and Fundraising, which are made up of selected trustees with specific knowledge and expertise, the officers and the administrator. Any significant changes to the Charity's forward planning or operations are presented to the Board of Trustees for their consideration and ratification before implementation.
Page 5
**THE WHEELYBOAT TRUST (REGISTERED NUMBER: 01872144)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2021**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Induction and training of new trustees**
All of the existing trustees are fully aware of the practical work of the Charity and have been advised of their responsibilities both to the Charity and to the Charity Commission. New trustees tend to have already been involved with the Charity and its work and, as in the past, all new trustees will be provided with relevant Charity Commission publications; apprised of the objectives and activities of the Charity; provided with a copy of the Memorandum and Articles of Association together with the most recent set of annual accounts. They will also be required to attend a meeting with the chairman of the Board of Trustees who will familiarise them with the workings of the Charity and context within which they will be working.
## **Wider network**
The Charity has working relationships with other charities in the fields in which it operates. It helps groups and organisations acquire Wheelyboats for their own beneficiaries and it promotes the benefits and availability of Wheelyboats through other charities.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
01872144 (England and Wales)
## **Registered Charity number**
292216
## **Registered office**
20 Eversley Road Bexhill-on-Sea East Sussex TN40 1HE
## **Principal address**
North Lodge Burton Park Petworth West Sussex GU28 0JT
## **Trustees**
Mr A G Scott Mrs P V Seligman Mr G E S Seligman Countess L M Lichfield (resigned 3/11/2020) Mr I Thornley OBE Mr S D Barrowcliff Mrs M E Brocklebank Mr J I Leslie Melville (appointed 5/5/2020) Mrs S E Buscall (appointed 2/2/2021)
## **Auditors**
GMP Audit Limited 82 High Street Tenterden Kent TN30 6JG
Page 6
**THE WHEELYBOAT TRUST (REGISTERED NUMBER: 01872144)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2021**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Bankers**
CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
National Westminster Bank plc 9 Devonshire Road Bexhill-on-Sea East Sussex TN40 1AG
## **Administrator**
Mr A Beadsley
## **PUBLIC BENEFIT**
The trustees have complied with their duty in the Charities Act to have due regard to guidelines issued by the Charity Commission on public benefit.
## **TRUSTEES' RESPONSIBILITY STATEMENT**
The trustees (who are also the directors of The Wheelyboat Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company's auditors are unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
## **AUDITORS**
The auditors, GMP Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Page 7
**THE WHEELYBOAT TRUST (REGISTERED NUMBER: 01872144)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2021**
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 2nd November 2021 and signed on its behalf by:
Mr A G Scott - Trustee
Page 8
**REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE WHEELYBOAT TRUST**
## **Opinion**
We have audited the financial statements of The Wheelyboat Trust (the 'charitable company') for the year ended 31st March 2021 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31st March 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
- the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
- the charitable company has not kept adequate accounting records; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
Page 9
**REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE WHEELYBOAT TRUST**
## **Responsibilities of trustees**
As explained more fully in the Trustees' Responsibilities Statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **Our responsibilities for the audit of the financial statements**
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- Discussions with management which included consideration of known or suspected instances of non-compliance with laws and regulations and fraud.
- Reviewing, evaluating and testing systems and controls to assess their effectiveness to prevent and detect irregularities.
- Identifying, reviewing and testing of journal entries.
- Challenging assumptions and judgements made by management in respect of significant accounting estimates.
There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
Page 10
**REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE WHEELYBOAT TRUST**
## **Use of our report**
This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of GMP Audit Limited Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 82 High Street Tenterden Kent TN30 6JG
30th November 2021
Page 11
**THE WHEELYBOAT TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2021**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**130,093**
Other trading activities
3
**21,073**
Investment income
4
**38**
Other income
**2,869**
**Total**
**154,073**
**EXPENDITURE ON**
**Raising funds**
Raising donations and legacies
5
**23,002**
Other trading activities
6
**11,558**
**34,560**
**Charitable activities**
7
Charitable activities - Restricted
**-**
Charitable activities - Unrestricted
**113,745**
**Total**
**148,305**
**NET INCOME**
**5,768**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**67,669**
**TOTAL FUNDS CARRIED FORWARD**
**73,437**|Restricted
funds
£
**185,319**
**-**
**-**
**-**
**185,319**
**-**
**-**
**-**
**135,710**
**-**
**135,710**
**49,609**
**86,927**
**136,536**|**2021**
**Total**
**funds**
**£**
**315,412**
**21,073**
**38**
**2,869**
**339,392**
**23,002**
**11,558**
**34,560**
**135,710**
**113,745**
**284,015**
**55,377**
**154,596**
**209,973**|2020
Total
funds
£
287,675
114,526
276
732
403,209
20,828
96,171
116,999
105,954
151,359
374,312
28,897
125,699
154,596|
|---|---|---|---|
The notes form part of these financial statements
Page 12
**THE WHEELYBOAT TRUST (REGISTERED NUMBER: 01872144)**
## **BALANCE SHEET 31ST MARCH 2021**
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
13
**1,922**
**CURRENT ASSETS**
Stocks
14
**17,331**
Debtors
15
**38,952**
Cash at bank
**64,168**
**120,451**
**CREDITORS**
Amounts falling due within one year
16
**(48,936)**
**NET CURRENT ASSETS**
**71,515**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**73,437**
**NET ASSETS**
**73,437**
**FUNDS**
17
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
**1,050**
**-**
**69,808**
**133,587 **
**203,395**
**(67,909)**
**135,486**
**136,536**
**136,536**|**2021**
**Total**
**funds**
**£**
**2,972**
**17,331**
**108,760**
**197,755**
**323,846**
**(116,845)**
**207,001**
**209,973**
**209,973**
**73,437**
**136,536**
**209,973**|2020
Total
funds
£
1,108
2,231
30,367
131,200
163,798
(10,310)
153,488
154,596
154,596
67,669
86,927
154,596|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2021.
The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.
## The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.
The notes form part of these financial statements
continued...
Page 13
**THE WHEELYBOAT TRUST (REGISTERED NUMBER: 01872144)**
## **BALANCE SHEET - continued 31ST MARCH 2021**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 2nd November 2021 and were signed on its behalf by:
Mr A G Scott - Trustee
Mr I Thornley OBE - Trustee
The notes form part of these financial statements
Page 14
**THE WHEELYBOAT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Boat equipment - 25% on cost Office equipment - 33% on cost Boats - 100% on cost
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 15
**THE WHEELYBOAT TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021**
|**2.**
**DONATIONS AND LEGACIES**
Donations etc - Wheelyboats
Donations - Other
**3.**
**OTHER TRADING ACTIVITIES**
Sale of Wheelyboats
Hire of Wheelyboats
**4.**
**INVESTMENT INCOME**
Deposit account interest
**5.**
**RAISING DONATIONS AND LEGACIES**
Staff costs
**6.**
**OTHER TRADING ACTIVITIES**
Purchase of wheelyboats for resale
**7.**
**CHARITABLE ACTIVITIES COSTS**
Charitable activities - Restricted
Charitable activities - Unrestricted|Direct
Costs
£
**135,710**
**88,863**
**224,573**|**2021**
**£**
**239,315**
**76,097**
**315,412**
**2021**
**£**
**20,073**
**1,000**
**21,073**
**2021**
**£**
**38**
**2021**
**£**
**23,002**
**2021**
**£**
**11,558**
Support
costs (see
note 8)
£
**-**
**24,882**
**24,882**||2020
£
202,671
85,004
287,675
2020
£
114,526
-
114,526
2020
£
276
2020
£
20,828
2020
£
96,171
Totals
£
**135,710**
**113,745**
**249,455**|
|---|---|---|---|---|
||||||
||||||
||||||
||||||
continued...
Page 16
**THE WHEELYBOAT TRUST**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021**
## **8. SUPPORT COSTS**
|**SUPPORT COSTS**||
|---|---|
||Governance|
||costs|
||£|
|Charitable activities - Unrestricted|**24,882**|
## **9. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
|Depreciation - owned assets
Surplus on disposal of fixed assets|**2021**
**£**
**1,969**
**-**|2020
£
24,505
(200)|
|---|---|---|
## **10. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31st March 2021 nor for the year ended 31st March 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31st March 2021 nor for the year ended 31st March 2020.
## **11. STAFF COSTS**
The average monthly number of employees during the year was as follows:
|Administration and fundraising
No employees received emoluments in excess of £60,000.|**2021**
**2**|2020
2|
|---|---|---|
||||
|**12.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
172,536
Other trading activities
114,526
Investment income
276
Other income
732
**Total**
288,070
**EXPENDITURE ON**
**Raising funds**
Raising donations and legacies
20,828
Other trading activities
96,171
116,999
**Charitable activities**
Charitable activities - Restricted
-|
Restricted
funds
£
115,139
-
-
-
115,139
-
-
-
105,954|Total
funds
£
287,675
114,526
276
732
403,209
20,828
96,171
116,999
105,954|
|---|---|---|
continued...
Page 17
**THE WHEELYBOAT TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021**
|**12.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
funds
£
Charitable activities - Unrestricted
151,359
**Total**
268,358
**NET INCOME**
19,712
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
47,957
**TOTAL FUNDS CARRIED FORWARD**
67,669
**13.**
**TANGIBLE FIXED ASSETS**
Boat
Office
equipment
equipment
£
£
**COST**
At 1st April 2020
**7,283**
**1,424**
Additions
**3,833**
**-**
Disposals
**-**
**-**
**(**
At 31st March 2021
**11,116**
**1,424**
**DEPRECIATION**
At 1st April 2020
**6,369**
**1,230**
Charge for year
**1,872**
**97**
Eliminated on disposal
**-**
**-**
**(**
At 31st March 2021
**8,241**
**1,327**
**NET BOOK VALUE**
At 31st March 2021
**2,875**
**97**
At 31st March 2020
914
194
**14.**
**STOCKS**
Stocks|**- continued**
Restricted
funds
£
-
105,954
9,185
77,742
86,927
Boats
£
**319,970**
**-**
**107,272) **
**(**
**212,698**
**319,970**
**-**
**107,272) **
**(**
**212,698**
**-**
-
**2021**
**£**
**17,331**|
Total
funds
£
151,359
374,312
28,897
125,699
154,596
Totals
£
**328,677**
**3,833**
**107,272) **
**225,238**
**327,569**
**1,969**
**107,272) **
**222,266**
**2,972**
1,108
2020
£
2,231|
|---|---|---|
||||
||||
||||
continued...
Page 18
**THE WHEELYBOAT TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021**
|**15.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
VAT
Prepayments
**16.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income
**17.**
**MOVEMENT IN FUNDS**
At 1/4/20
£
**Unrestricted funds**
General fund
**67,669**
**Restricted funds**
Restricted fund
**86,927**
**TOTAL FUNDS**
**154,596**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
**154,073**
**Restricted funds**
Restricted fund
**185,319**
**TOTAL FUNDS**
**339,392**|**2021**
**£**
**71,449**
**8,752**
**784**
**27,775**
**108,760**
**2021**
**£**
**97,354**
**1,485**
**5,851**
**12,155**
**116,845**
Net
movement
in funds
£
**5,768**
**49,609**
**55,377**
Resources
expended
£
**(148,305)**
**(135,710)**
**(284,015) **||2020
£
15,250
5,191
8,729
1,197
30,367
2020
£
2,704
1,669
5,937
-
10,310
At
31/3/21
£
**73,437**
**136,536**
**209,973**
Movement
in funds
£
**5,768**
**49,609**
**55,377**|
|---|---|---|---|
|||||
|||||
|||||
continued...
Page 19
**THE WHEELYBOAT TRUST**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021**
## **17. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
Designated Fund
**Restricted funds**
Restricted fund
**TOTAL FUNDS**|At 1/4/19
£
15,703
32,254
47,957
77,742
125,699|Net
movement
in funds
£
19,712
-
19,712
9,185
28,897|Transfers
between
funds
£
32,254
(32,254)
-
-
-|At
31/3/20
£
67,669
-
67,669
86,927
154,596|
|---|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
**TOTAL FUNDS**|Incoming
resources
£
288,070
115,139
403,209|Resources
expended
£
(268,358)
(105,954)
(374,312)|Movement
in funds
£
19,712
9,185
28,897|
|---|---|---|---|
## **18. RELATED PARTY DISCLOSURES**
Donations totalling £2,500 (2020 - £4,000) were received from the trustees and other trusts in which they are involved.
## **19. GUARANTEE OF MEMBERS**
Every member of the Trust undertakes to contribute such amount as may be required (not exceeding £5) to the Trust's assets if it is wound up while he is a member, or within one year after he ceases to be a member, for payment of the Trust's debts and liabilities contracted before he ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves.
Page 20