```
REGISTERED COMPANY NUMBER: 01988352 (England and Wales)
REGISTERED CHARITY NUMBER: 293781
```
```
Report of the Trustees and
```
```
Unaudited Financial Statements
```
```
for the Year Ended 31 December 2020
```
```
for
Christian Youth Enterprises Sailing
Centre
```
```
A J Bennewith FCA, FCPA, FFA, FFTA,
FIPA, DChA, FRSA
3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Contents of the Financial Statements for the Year Ended 31 December 2020`**
||**`Page`**|
|---|---|
|**`Report of the Trustees`**|`1 to 6`|
|**`Independent Examiner's Report`**|`7`|
|**`Statement of Financial Activities`**|`8`|
|**`Balance Sheet`**|`9 to 10`|
|**`Cash Flow Statement`**|`11`|
|**`Notes to the Cash Flow Statement`**|`12`|
|**`Notes to the Financial Statements`**|`13 to 25`|
|**`Detailed Statement of Financial Activities`**|`26 to 27`|
```
Christian Youth Enterprises Sailing
Centre
```
## **`Report of the Trustees for the Year Ended 31 December 2020`**
```
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
withthefinancialstatementsofthecharityfortheyearended31December2020.Thetrusteeshaveadopted the
provisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicableto charities
preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublic of
Ireland (FRS 102) (effective 1 January 2019).
```
```
They have also adopted the provisions of the Good Governance Code for the Voluntary and Community Sector.
```
## **`OBJECTIVES AND ACTIVITIES`**
## **`Objectives and aims`**
```
Thecharity'sobjectiveistoadvanceeducationinabroadsenseinaccordancewiththeprinciplesofthe Christian
religionamongpeopleof allagesandbeliefs.To thisend,CYE SailingCentrewillworkextensivelybutnot exclusively
with young people throughtheir school and leisure time activities.We seek to develop mental, emotionaland spiritual
capacitiesand experienceof peopleof all ages. Volunteersare activelyencouragedto take part as activityleaders and
helpers.Thereisavolunteers'coordinatorandappropriatepoliciesandproceduresaresetoutinthe Volunteer
Manual.Trainingisgivenasappropriate.Thevolunteerprogrammeisalsopartoftheongoing leadership
developmentofpeopleunder25yearsold.Volunteersareinvolvedinallareasoftheorganisationincluding centre
maintenance& repairs,fundraising,administration,cateringandactivityprovisionandleadership.Their contribution
cannotbequantifiedalthoughitmakesa bigpositivedifferencetothecharity'sabilitytomeetitsaims& objectives.
During 2020 volunteers were not allowed on site for most of the year.
```
```
Page 1
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Report of the Trustees for the Year Ended 31 December 2020`**
## **`ACHIEVEMENT AND PERFORMANCE`**
```
The TrusteesandCentreDirectorregularlyreviewwhatthe centreis offeringandto whom,witha view to improving
andsometimesdiversifyingthealreadyimpressivelistofevents.Weusuallyrunweeklyeventssuchas"On Board",
"YoungGuns YouthGroup"and events for PACSO, a groupfor childrenwith disabilities,and theirfamilies,with whom
wepartnertoprovidewater-basedactivities.Thecentrecontinuestobenefitfromhavingawiderangeof volunteer
staffwho,alongwiththepermanentstaff,consistentlyprovideawiderangeofexperiencesandchallengesto the
manyclientswhovisitthecentrewhetheritbeforadayoraweek.Manyschoolswithchildrenofvariousages and
from differentbackgrounds,ethnicity,faiths,and abilityhave attendedthe centre duringthe year and we continue to
receiveaveryhighlevelofoutstandingfeedbackacrossallareasofthecentre.TheCateringTeamonce again
achievedthehighestratingof5intheirFoodHygieneInspection.Theyremaincommittedtohavinghealthy options
and well balanced meals available throughout the events.
```
```
The Adventure Activities Licensing Authority has issued a current licence.
Royal Yachting Association continues to recognise CYESC as a training establishment.
CYE Sailing Centre is a British Canoeing approved centre.
The Charity is registered with ICO.
```
```
In 2020 the charitywas seriouslyaffectedby the COVID 19 pandemicandpreventedfrom tradingby the introduction
of regulationsby the UK Governmentas a responseto the WorldWidePandemic.A numberof staffwere furloughed
for differing periods of time.
```
```
Priorto the lockdownregulations,from Januarythe centrestaff hosted9 groupstotalling200 peoplefrom January to
March. In addition 120 people attended two awareness-raising events.
```
```
DuringthebreakinLockdowntheteammobilisedenthusiasticallytomeetCovidguidelinesandatshort notice
betweenAugustandNovemberwereabletowelcome462youngpeopleonnon-residentialbasisonto93 smaller
Covidcompliantevents.Avarietyofactivitieswereavailablefor246individualsfrom8schoolsonto15 different
events.
```
```
As the traditionalsummer camps were curtailedthe staff created3 onlinecamps which were very popularwith all age
groups.
```
```
Normallyin December the staff team would travel to around20 schools to deliver a Christmasassembly message. This
was notpossiblein2020andso theydevelopeda videopresentationwhichwas circulatedby30 schoolsand viewed
at least 500 times by additional individuals.
```
```
TheTrusteescontinuetomeetatleastfourtimesayear,inadditiontothemanyhoursspentbothindividually and
collectively,seekingthebestwayforwardfortheon-goingdevelopmentofthecharity.Theirmainactivity was
monitoring financial performance in view of the Covid restrictions on guests and therefore income.
```
```
In addition the trustees…
```
```
- continuedto supportthe designanddevelopmentof plansfor new accommodationandfacilitiesto replace existing
notfitforpurposestaffaccommodation,visitorschangingandwashareas,stores&workshopthroughthe building
project team.
```
```
- Reviewedthe Risk Register- Monitoredandcompliedwithnew regulationsas theyoccurred- Arranged Compliance
Inspection&metorexceededrequirements-ExercisedgoodGovernance-ComplianceCheckList,Appointment of
Trustees
```
```
Page 2
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Report of the Trustees`**
## **`for the Year Ended 31 December 2020`**
## **`FINANCIAL REVIEW`**
## **`Review of 2020`**
```
DuetoCovidincomefromSchoolsgroupsandindividualswassubstantiallycurtailed.Inordertooffsetthisloss of
income, budgets were severely cut and staff put on the government furlough scheme.
```
```
InadditiontheLIFELINEappealwaslaunchedsupportedbymanyindividualsandsometrustsraising£171kin the
financial year.
```
```
Excludingtangiblefixed assets and restrictedfund balances,the unrestrictednet currentassets/fundsof the charity at
31st December 2020 were £139,470
```
## **`RESERVES POLICY`**
## **`Unrestricted reserves`**
```
Thetrusteesrecognisetheneedforthecharitytomaintainfreereservessufficienttocover management,
administration,and supportcosts, and such unexpectedcosts as may arise from time to time, shouldthe charity suffer
from a reductionin its income.It is the currentaim of the trusteesto maintaincash reserves of £30K over the coming
years.Reserveswereusedtomaintainthecentrescashflow.Thetrusteesconsiderthatgiventhecharity's loyal
supporterbase and the usual strong demand for the majorityof its courses and events, this moderatelevel of reserves
is sufficient for the charity's needs.
```
## **`Restricted reserves`**
```
During 2020 further restricted funds were given specifically for the new building project and activity enhancement.
```
## **`FUTURE PLANS`**
```
Weareverygratefulforthegenerousofferofadonationof£750,000tobepaidinequalinstalmentsacross3 tax
yearscommencinginMarch2019.Afurthertranchewasdonatedduring2020.Thesefundsaretobeusedfor the
replacementand enhancementof changing,toiletfacilitiesand staff accommodation.A planis beingformulatedfor a
replacementbuilding.Thetrustees,inpartnershipwiththecentrestaff,areactivelyseekingtoutilisethe sailing
centre'sfacilitiestothemaximumcapacitythroughouttheyearandtoprovideagood,relevantand diverse
programme for all.
```
```
1. To fulfil the mission of CYESC and to increase the income from the new opportunitiespresentedby T S Resolute, the
accommodation vessel.
```
```
2. To continueto enablethe Centre Directorto operateeffectivelywith responsibilityfor the managementof the staff
andcentre,marketing,mediaandfinancialcontrol.Thetrainingofthestaffandrunningofactivitiescontinueto be
under the responsibility of the Chief Instructor.
```
```
3. To increasecurrentlevels of fundraising,particularlyin regular(monthly/quarterly)donationsto fund the growth of
the general operation of the work of CYESC.
```
```
4. Thecentrewillcontinuetoprovidea widerangeof activitiesforchildrenandadultsattheactivitycentre.We will
continuetorunRYAcoursesandtoseektotrainpeoplefromallages,ethnicgroups,ablebodiedanddisabled in
aspects of physical, mental and spiritual development.
```
```
5. To work together with other like-minded organisations to fulfil the mission of CYESC.
```
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Constitution`**
```
ChristianYouth EnterprisesSailingCentre Limited is a companylimited by guarantee,as definedby the Companies Act
2006andaregisteredcharitygovernedbyitsMemorandumandArticlesofAssociation,whichwereamended and
updated in April 2012.
```
```
Page 3
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Report of the Trustees`**
## **`for the Year Ended 31 December 2020`**
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Trustees`**
```
The trusteeswhoservedduringthe yearandsincethe year-endare as detailedon the charityinformationpage. One
third(orthenearestnumbertoonethird)of thetrusteesretirebyrotationateachAGM.Thetrusteestoretire shall
be those who have been longest in office since their last electionor appointment.A retiringtrustee shall be eligible for
re-election.
```
## **`Structure, governance and management`**
```
Theboardoftrusteesgovernthecharity,workingwiththeCentreDirector,DevelopmentDirector,andstaff. The
trusteeshavevariousportfolios,includingmedical,safeguarding,teaching,compliance,fleet,financeand human
resources.Alltrusteesaregivensufficientandappropriatetrainingonappointmentandareusually given
responsibilitiesforwhichtheyhavepreviousexperienceandforwhichtheyarealreadytrainedintheir professional
lives.Thetrusteeshaveundertakena"skillsaudit"toestablishanygapsintheircollectiveknowledgeand expertise
with a view to actively recruit suitable persons going forward.
```
## **`Related parties`**
```
Thecharity'swhollyownedsubsidiary,SussexEnterpriseMarineLimited(SEM),isresponsibleforrepairing and
maintainingT S Resolute,and for purchasingand maintainingotherassets as requiredby the parentcharity. Christian
YouthEnterprisesSailingCentreLimited(CYESC)alsohasacloserelationshipwithChristianYouthEnterprises (CYE),
registeredcharitynumber287857.CYEworksalongsideCYESCwiththeobjectiveofraisingfundsto enable
disadvantagedyoungpeopletoattendChristiancamps,andtoenabletrainingtobeprovidedforoutdoor activity
leaders.
```
## **`Risk management`**
```
Thetrusteeshaveexaminedthemajorstrategic,businessandoperationalriskswhichthecharityfacesand confirm
that systems have been establishedto enable regularreportsto be producedso that the necessarysteps can be taken
to reduce those risks. The risk assessment is reviewed annually in December.
```
## **`REFERENCE AND ADMINISTRATIVE DETAILS`**
## **`Registered Company number`**
```
01988352 (England and Wales)
```
## **`Registered Charity number`**
```
293781
```
## **`Registered office`**
```
Jubilee Building
Chidham
Chichester
West Sussex
PO18 8TE
```
```
Page 4
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Report of the Trustees`**
## **`for the Year Ended 31 December 2020`**
## **`Trustees`**
```
Thedirectorsofthecharitablecompany(hereafterreferredtoas'thecharity')areitstrusteesforthepurposes of
charitylawandthroughoutthisreportarereferredtocollectivelyas'thetrustees'.Thetrusteesservingduring the
year and since the year-end are as follows:
```
|`C Crossley`|`(Re appointed June 2017)`|`Chairperson, Staff Liaison`|
|---|---|---|
|`N E N Doney`|`(Re appointed June 2019)`|`Development Director`|
|`R M Doney`|`(Re appointed June 2017)`|`Schools`|
|`N I Rees`|`(Re appointed June 2018)`|`Finance & Development Projects`|
|`R I Walker`|`(Re appointed June 2019)`|`Centre/Medical`|
|`C J Adams`|`(appointed June 2018)`|`Fleet and Projects`|
|`H Watts`|`(Appointed June 2018)`|`Safeguarding`|
|`N Houston`|`(Appointed June 2019)`|`Company Secretary`|
```
Day to day management is delegated to:
```
```
Centre Director - Mark Sheldrake (appointed April 2018)
Development Director - Norman Doney
```
## **`Company Secretary`**
```
N J F Houston
```
## **`Independent Examiner`**
```
A J Bennewith FCA, FCPA, FFA, FFTA,
FIPA, DChA, FRSA
3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU
```
## **`Bankers`**
```
HSBC
17 Market Place
Blandford Forum
Dorset
DT11 7AG
```
```
COIF Charity Funds
CCLA Investment Management Limited
Senator House
85 Queen Victoria Street
London EC4V 4ET
```
```
Page 5
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Report of the Trustees for the Year Ended 31 December 2020`**
## **`PUBLIC BENEFIT`**
```
Thecentreis opentoallpeopleaged8 andoverandindeedforthoseyoungerwhentheycomeaspartofa family's
event.In 2011we fullyreviewedandensuredthatCYESCbeliefsandpracticesof the Christianreligionare capable of
advancingreligionfor the purposesof charitylaw (PublicBenefit Assessment Report,July 2009) and continueto do so,
on a regular basis.
```
```
Thetrustees,whoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
withthefinancialstatementsofthecharityfortheyearended31December2019.Thetrusteeshaveadopted the
provisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicableto charities
preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublic of
Ireland (FRS 102) (effective 1 January 2015).
```
```
They have also adopted the provisions of the Good Governance Code for the Voluntary and Community Sector.
```
```
Volunteersareinvolvedinallareasoftheorganisationincludingcentremaintenance&repairs, fundraising,
administration,cateringandactivityprovisionandleadership.Theircontributioncannotbequantifiedalthough it
makes a big positive difference to the charity's ability to meet its aims & objectives.
```
```
ThecentrenowhasaworkingpartnershipwithPACSO(ParentsandCarersSupportOrganisation)tohelpwith the
careofdisabledchildrenandtheirfamilies.Thecentreusuallyalsoruns"OnBoard",anRYAschemeaimed at
encouraginganyyoungpersontogetsailing.DuringtheyeargrantsfromtheBursaryFundoperatedbya separate
charitywere awardedto youngpeople enablingthem to come to centre for schooltrips,as part of a families weekend
or on a sailing course.
```
```
Incompilingthisreport,thetrusteeshavegivendueregardtothepublicbenefitguidanceasissuedbythe Charity
Commission.AsamissioncommunityofpeopleobeyingthecallofGodtoproclaimthegospelinallplacesand to
drawallpeopleintofellowshipwiththeLordJesusChrist,CYESCworksoutitsPublicBenefitinanumberof ways.
CYESCbelievesthattheChristianfaithisofbenefittosocietyandindividualsbringingavisionoftransformation for
peaceandsocialharmonywhichgrowsfromwhatChristiansbelieveisGod'sultimatepurpose.Mostpeople are
impactedif Christians''live a Christ-likelife amongstthem, share the good news of Jesus, demonstrateGod's love, and
prayerfully expect God's power to transform individuals, communities, and whole nations''.
```
```
CYESCseekstodemonstratethisbenefitthroughitswiderangeofactivitiesasdetailedthroughoutthe trustees'
report.This reporthas been preparedin accordancewiththe specialprovisionsof Part15 of the CompaniesAct 2006
relatingto small companies.This reporthas been preparedin accordancewith the specialprovisionsof Part 15 of the
Companies Act 2006 relating to small companies.
```
```
This reporthas been preparedin accordancewith the specialprovisionsof Part 15 of the CompaniesAct 2006 relating
to small companies.
```
```
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
```
```
........................................................................
N E Doney - Trustee
```
```
Page 6
```
## **`Independent Examiner's Report to the Trustees of Christian Youth Enterprises Sailing Centre`**
## **`Independent examiner's report to the trustees of Christian Youth Enterprises Sailing Centre ('the Company')`**
```
IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended
31 December 2020.
```
## **`Responsibilities and basis of report`**
```
As the charity'strusteesof the Company(andalsoits directorsfor the purposesof companylaw)youare responsible
for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
```
```
Having satisfiedmyself that the accountsof the Companyare not requiredto be auditedunder Part 16 of the 2006 Act
andareeligibleforindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccounts as
carriedoutundersection145oftheCharitiesAct2011('the2011Act').IncarryingoutmyexaminationI have
followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
```
## **`Independent examiner's statement`**
```
Since yourcharity'sgross incomeexceeded£250,000yourexaminermust be a member of a listedbody.I can confirm
thatIamqualifiedtoundertaketheexaminationbecauseIamaregisteredmemberofFCA,FCPA,FFA,FFTA, FIPA,
DChA, FRSA which is one of the listed bodies.
```
```
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith 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)).`
```
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
```
```
A J Bennewith
FCA, FCPA, FFA, FFTA, FIPA, DChA, FRSA
A J Bennewith FCA, FCPA, FFA, FFTA,
FIPA, DChA, FRSA
3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU
Date: .............................................
```
```
Page 7
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Statement of Financial Activities`**
## **`(Incorporating an Income and Expenditure Account) for the Year Ended 31 December 2020`**
|`Notes`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`2`
`Other trading activities`
`3`
`Investment income`
`4`
`Other income`
**`Total`**
**`EXPENDITURE ON`**
`Raising funds`
**`Charitable activities`**
`5`
`Direct charitable`
`Management and administration`
**`Total`**
**`NET INCOME`**
**`Transfers between funds`**
`18`
**`Net movement in funds`**
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
**`TOTAL FUNDS CARRIED FORWARD`**|`Unrestricted`
`funds`
`£`
`320,335`
`160,196`
`1,138`
`260`
`481,929`
`715`
`403,761`
`12,467`
`416,943`
`64,986`
`7,884`
`72,870`
`987,667`
`1,060,537`|`Restricted`
`funds`
`£`
`221,965`
`-`
`2,341`
`-`
`224,306`
`-`
`62,898`
`-`
`62,898`
`161,408`
`(7,884)`
`153,524`
`622,625`
`776,149`|`31.12.20`
`Total`
`funds`
`£`
`542,300`
`160,196`
`3,479`
`260`
`706,235`
`715`
`466,659`
`12,467`
`479,841`
`226,394`
`-`
`226,394`
`1,610,292`
`1,836,686`|`31.12.19`
`Total`
`funds`
`£`
`766,898`
`295,514`
`1,482`
`4,920`|
|---|---|---|---|---|
|||||`1,068,814`
`3,471`
`540,714`
`15,838`|
|||||`560,023`|
|||||`508,791`
`-`|
|||||`508,791`
`1,101,501`|
|||||`1,610,292`|
```
The notes form part of these financial statements
```
```
Page 8
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Balance Sheet`**
## **`31 December 2020`**
|`Notes`
**`FIXED ASSETS`**
`Tangible assets`
`11`
`Investments`
`12`
**`CURRENT ASSETS`**
`Stocks`
`13`
`Debtors`
`14`
`Cash at bank`
**`CREDITORS`**
`Amounts falling due within one year`
`15`
**`NET CURRENT ASSETS`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`CREDITORS`**
`Amounts falling due after more than one year`
`16`
**`NET ASSETS`**
**`FUNDS`**
`18`
`Unrestricted funds`
`Restricted funds`
**`TOTAL FUNDS`**|`Unrestricted`
`funds`
`£`
`951,066`
`1`
`951,067`
`1,690`
`125,806`
`138,659`
`266,155`
`(126,685)`
`139,470`
`1,090,537`
`(30,000)`
`1,060,537`|`Restricted`
`funds`
`£`
`-`
`-`
`-`
`-`
`-`
`776,149`
`776,149`
`-`
`776,149`
`776,149`
`-`
`776,149`|`31.12.20`
`Total`
`funds`
`£`
`951,066`
`1`
`951,067`
`1,690`
`125,806`
`914,808`
`1,042,304`
`(126,685)`
`915,619`
`1,866,686`
`(30,000)`
`1,836,686`
`1,060,537`
`776,149`
`1,836,686`|`31.12.19`
`Total`
`funds`
`£`
`984,119`
`1`
`984,120`
`902`
`106,751`
`624,795`
`732,448`
`(106,276)`
`626,172`
`1,610,292`
`-`
`1,610,292`
`987,667`
`622,625`
`1,610,292`|
|---|---|---|---|---|
```
The charitablecompanyis entitledto exemptionfrom audit under Section477 of the CompaniesAct 2006 for the year
ended 31 December 2020.
```
```
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 December 2020 in accordance with Section 476 of the Companies Act 2006.
```
```
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.`
```
The notes form part of these financial statements
```
```
continued...
```
```
Page 9
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Balance Sheet - continued`**
## **`31 December 2020`**
```
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies
subject to the small companies regime.
```
```
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
............................................. and were signed on its behalf by:
```
```
.............................................
N E Doney - Trustee
```
```
The notes form part of these financial statements
```
```
Page 10
```
```
Christian Youth Enterprises Sailing
Centre
```
|**`Cash Flow Statement`**
**`for the Year Ended 31 December 2020`**
`31.12.20`
`Notes`
`£`
**`Cash flows from operating activities`**
`Cash generated from operations`
`1`
`267,272`
`Net cash provided by operating activities`
`267,272`
**`Cash flows from investing activities`**
`Purchase of tangible fixed assets`
`(10,857)`
`Purchase of fixed asset investments`
`-`
`Sale of tangible fixed assets`
`250`
`Interest received`
`3,479`
`Repayment of loan to subsidiary`
`-`
`Loaned to subsidiary`
`9,869`
`Net cash provided by/(used in) investing activities`
`2,741`
**`Cash flows from financing activities`**
`New loans in year`
`30,000`
`Loan repayments in year`
`(10,000)`
`Net cash provided by/(used in) financing activities`
`20,000`
**`Change in cash and cash equivalents in the`**
**`reporting period`**
`290,013`
**`Cash and cash equivalents at the beginning`**
**`of the reporting period`**
`624,795`
**`Cash and cash equivalents at the end of`**
**`the reporting period`**
`914,808`|`31.12.19`
`£`
`612,146`
`612,146`
`(46,204)`
`(1)`
`1,476`
`1,482`
`17,988`
`-`
`(25,259)`
`-`
`(17,000)`
`(17,000)`
`569,887`
`54,908`
`624,795`|
|---|---|
```
The notes form part of these financial statements
```
```
Page 11
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Notes to the Cash Flow Statement`**
## **`for the Year Ended 31 December 2020`**
## **`1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES`**
|**`Net income for the reporting period (as per the Statement of Financial`**
**`Activities)`**
**`Adjustments for:`**
`Depreciation charges`
`(Profit)/loss on disposal of fixed assets`
`Interest received`
`Increase in stocks`
`(Increase)/decrease in debtors`
`Increase in creditors`
**`Net cash provided by operations`**|`31.12.20`
`£`
`226,394`
`43,909`
`(250)`
`(3,479)`
`(788)`
`(28,923)`
`30,409`
`267,272`|`31.12.19`
`£`
`508,791`
`43,774`
`2,118`
`(1,482)`
`(472)`
`51,296`
`8,121`
`612,146`|
|---|---|---|
## `2.` **`ANALYSIS OF CHANGES IN NET FUNDS`**
||`At 1.1.20`|`Cash flow`|`At 31.12.20`|
|---|---|---|---|
||`£`|`£`|`£`|
|**`Net cash`**||||
|`Cash at bank`|`624,795`|`290,013`|`914,808`|
||`624,795`|`290,013`|`914,808`|
|**`Debt`**||||
|`Debts falling due within 1 year`|`(12,000)`|`10,000`|`(2,000)`|
|`Debts falling due after 1 year`|`-`|`(30,000)`|`(30,000)`|
||`(12,000)`|`(20,000)`|`(32,000)`|
|**`Total`**|`612,795`|`270,013`|`882,808`|
```
The notes form part of these financial statements
```
```
Page 12
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Notes to the Financial Statements`**
## **`for the Year Ended 31 December 2020`**
## **`1. ACCOUNTING POLICIES`**
## **`Basis of preparing the financial statements`**
```
The financialstatementsof the charitablecompany,whichis a publicbenefitentityunderFRS 102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities: Statement
ofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial
ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the
CompaniesAct2006.Thefinancialstatementshavebeenpreparedunderthehistoricalcostconvention, with
the exception of investments which are included at market value.
```
```
The charitable company is limited by guarantee.
```
## **`Income`**
```
All incomeis recognisedin the Statementof FinancialActivitiesoncethe charityhasentitlementto the funds,
it is probable that the income will be received and the amount can be measured reliably.
```
```
Course deposits are recognised in the accounting period in which the course takes place.
```
## **`Expenditure`**
```
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
andtheamountof theobligationcanbe measuredreliably.Expenditureis accountedforonanaccruals basis
andhas been classifiedunderheadingsthataggregateall costrelatedto the category.Wherecostscannot be
directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the
use of resources.
```
## **`Tangible fixed assets`**
```
Tangiblefixedassetsarestatedatcost.Allboatspurchasedarecapitalised,butotherassetscostingless than
£2,000are not capitalised.Depreciationis providedat the followingannualratesin orderto writeoff the cost
of each asset over its useful economic life:
```
|`Site buildings`|`2% straight line`|
|---|---|
|`Site furniture and equipment`|`25% reducing balance & 10% straight line`|
|`Barge`|`2% straight line`|
|`Barge furniture and equipment`|`25% reducing balance`|
|`Fleet`|`15% reducing balance`|
|`Motor vehicles`|`25% reducing balance`|
## **`Stock`**
```
Stockisvaluedatthelowerofcostandnetrealisablevalue,aftermakingdueallowanceforobsolete 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.
```
```
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
```
```
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
```
```
continued...
```
```
Page 13
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Notes to the Financial Statements - continued for the Year Ended 31 December 2020`**
## **`1. ACCOUNTING POLICIES - continued`**
## **`Pension costs and other post-retirement benefits`**
```
Thecharitablecompanyoperatesadefinedcontributionpensionscheme.Contributionspayableto the
charitablecompany'spensionschemearechargedtotheStatementofFinancialActivitiesintheperiod to
which they relate.
```
## **`Programme-related investments and concessionary loans`**
```
Programme-relatedinvestmentsandconcessionaryloansaremadewhollyorinparttoadvance charitable
purposes and not solely to achieve a financial return.
```
```
Programme-relatedinvestmentsandconcessionaryloansareinitiallyrecognisedattheamountpaid or
received.The carryingamountof loansis adjustedin subsequentyearsto reflectrepaymentsandany accrued
interest payable or receivable.
```
## **`2. DONATIONS AND LEGACIES`**
|`Donations`
`Gift aid`
`Legacies`
`Grants`
**`OTHER TRADING ACTIVITIES`**
`Shop sales`
`Fees receivable`
**`INVESTMENT INCOME`**
`Deposit account interest`|`31.12.20`
`£`
`405,008`
`40,535`
`-`
`96,757`
`542,300`
`31.12.20`
`£`
`90`
`160,106`
`160,196`
`31.12.20`
`£`
`3,479`|`31.12.19`
`£`
`632,701`
`62,735`
`65,462`
`6,000`|
|---|---|---|
|||`766,898`|
|||`31.12.19`
`£`
`2,746`
`292,768`|
|||`295,514`|
|||`31.12.19`
`£`
`1,482`|
## **`3. OTHER TRADING ACTIVITIES`**
## **`4. INVESTMENT INCOME`**
```
continued...
```
```
Page 14
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Notes to the Financial Statements - continued for the Year Ended 31 December 2020`**
## **`5. CHARITABLE ACTIVITIES COSTS`**
|`Support`
`Direct`
`costs (see`
`Costs`
`note 6)`
`£`
`£`
`Direct charitable`
`466,659`
`-`
`Management and administration`
`-`
`12,467`
`466,659`
`12,467`
**`SUPPORT COSTS`**
`Governance`
`Management`
`costs`
`£`
`£`
`Management and administration`
`12,182`
`285`
**`NET INCOME/(EXPENDITURE)`**
`Net income/(expenditure) is stated after charging/(crediting):`
`31.12.20`
`£`
`Depreciation - owned assets`
`43,910`
`Surplus/(deficit) on disposal of fixed assets`
`(250)`|`Totals`
`£`
`466,659`
`12,467`|`Totals`
`£`
`466,659`
`12,467`|
|---|---|---|
||`479,126`||
||`Totals`
`£`
`12,467`
`31.12.19`
`£`
`43,775`
`2,118`|`Totals`
`£`
`12,467`|
## **`6. SUPPORT COSTS`**
## **`7. NET INCOME/(EXPENDITURE)`**
## **`8. TRUSTEES' REMUNERATION AND BENEFITS`**
```
During2020,thecharitymadepaymentsforconsultancyservicestotalling£3,380(2019:£5,536)to Doney
ConsultingLimited,acompanyownedbyoneofthecharity'strustees,MrNDoney.Thesepayments are
permitted by the Memorandum and Articles of Association.
```
```
None of the trustees received any payments or remuneration for their work as trustees.
```
## **`Trustees' expenses`**
```
DuringDuringtheyearsended31December2020and31December2019noexpenseswerereimbursed to
trustees.
```
```
During 2020 the charity purchased Trustees' Indemnity Insurance at a cost of £243 (2019: £243).
```
```
continued...
```
```
Page 15
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Notes to the Financial Statements - continued`**
## **`for the Year Ended 31 December 2020`**
## **`9. STAFF COSTS`**
|`Wages and salaries`
`Social security costs`
`Other pension costs`
`The average monthly number of employees during the year was as follows:`
`Charity staff`|`31.12.20`
`£`
`217,819`
`13,407`
`4,003`
`235,229`
`31.12.20`
`10`|`31.12.19`
`£`
`201,621`
`11,547`
`3,601`|
|---|---|---|
|||`216,769`|
|||`31.12.19`
`10`|
```
No employees received emoluments in excess of £60,000.
```
```
Grossremunerationof£39,481intotal(2019:£39,727)waspaidtotwomembersofKey Management
Personnelin 2020.Pensioncontributionsof £897(2019:£784)were alsomadeon behalfof Key Management
Personnel.
```
## **`10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**
|**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`Other trading activities`
`Investment income`
`Other income`
**`Total`**
**`EXPENDITURE ON`**
`Raising funds`
**`Charitable activities`**
`Direct charitable`
`Management and administration`
**`Total`**
**`NET INCOME/(EXPENDITURE)`**
**`Transfers between funds`**
**`Net movement in funds`**|`Unrestricted`
`funds`
`£`
`113,205`
`295,514`
`504`
`4,920`
`414,143`
`3,471`
`500,930`
`15,838`
`520,239`
`(106,096)`
`25,531`
`(80,565)`|`Restricted`
`funds`
`£`
`653,693`
`-`
`978`
`-`
`654,671`
`-`
`39,784`
`-`
`39,784`
`614,887`
`(25,531)`
`589,356`|`Total`
`funds`
`£`
`766,898`
`295,514`
`1,482`
`4,920`|
|---|---|---|---|
||||`1,068,814`
`3,471`
`540,714`
`15,838`|
||||`560,023`|
||||`508,791`
`-`|
||||`508,791`|
```
continued...
```
```
Page 16
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Notes to the Financial Statements - continued for the Year Ended 31 December 2020`**
|**`10.`**
**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
**`TOTAL FUNDS CARRIED FORWARD`**
**`11.`**
**`TANGIBLE FIXED ASSETS`**
**`COST`**
`At 1 January 2020`
`Additions`
`At 31 December 2020`
**`DEPRECIATION`**
`At 1 January 2020`
`Charge for year`
`At 31 December 2020`
**`NET BOOK VALUE`**
`At 31 December 2020`
`At 31 December 2019`|**`-`**|**`continued`**
`Unrestricted`
`funds`
`£`
`1,068,232`
`987,667`
`Barge`
`£`
`1,154,779`
`-`
`1,154,779`
`362,364`
`23,096`
`385,460`
`769,319`
`792,415`||`Restricted`
`funds`
`£`
`33,269`
`622,625`
`Barge`
`furniture`
`and`
`equipment`
`£`
`22,617`
`4,045`
`26,662`
`17,012`
`2,412`
`19,424`
`7,238`
`5,605`||`Total`
`funds`
`£`
`1,101,501`|
|---|---|---|---|---|---|---|
|||||||`1,610,292`|
|||||||`Site`
`buildings`
`£`
`176,153`
`-`
`176,153`
`73,984`
`3,523`
`77,507`
`98,646`
`102,169`|
||||||||
||||||||
||||||||
||||||||
||||||||
```
continued...
```
```
Page 17
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Notes to the Financial Statements - continued for the Year Ended 31 December 2020`**
## **`11. TANGIBLE FIXED ASSETS - continued`**
|**`COST`**
`At 1 January 2020`
`Additions`
`At 31 December 2020`
**`DEPRECIATION`**
`At 1 January 2020`
`Charge for year`
`At 31 December 2020`
**`NET BOOK VALUE`**
`At 31 December 2020`
`At 31 December 2019`|`Site`
`furniture`
`and`
`equipment`
`£`
`90,688`
`4,064`
`94,752`
`63,694`
`5,574`
`69,268`
`25,484`
`26,994`|`Fleet`
`£`
`140,872`
`2,748`
`143,620`
`87,457`
`8,425`
`95,882`
`47,738`
`53,415`|`Motor`
`vehicles`
`£`
`4,695`
`-`
`4,695`
`1,174`
`880`
`2,054`
`2,641`
`3,521`|`Totals`
`£`
`1,589,804`
`10,857`|
|---|---|---|---|---|
|||||`1,600,661`|
|||||`605,685`
`43,910`|
|||||`649,595`|
|||||`951,066`|
|||||`984,119`|
```
The site buildings are situated on land leased by the charity.
```
## **`12. FIXED ASSET INVESTMENTS`**
|**`FIXED ASSET INVESTMENTS`**||
|---|---|
||`Shares in`|
||`group`|
||`undertakings`|
||`£`|
|**`MARKET VALUE`**||
|`At 1 January 2020 and 31 December 2020`|`100`|
|**`PROVISIONS`**||
|`At 1 January 2020 and 31 December 2020`|`99`|
|**`NET BOOK VALUE`**||
|`At 31 December 2020`|`1`|
|`At 31 December 2019`|`1`|
```
There were no investment assets outside the UK.
```
```
The company's investments at the balance sheet date in the share capital of companies include the following:
```
```
continued...
```
```
Page 18
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Notes to the Financial Statements - continued for the Year Ended 31 December 2020`**
## **`12. FIXED ASSET INVESTMENTS - continued`**
## **`Sussex Enterprise Marine Limited`**
```
Registered office: Jubilee Building, Chidham, Chichester, West Sussex, PO18 8TE
Nature of business: Construction and maintenance
```
||`%`|||
|---|---|---|---|
|`Class of share:`|`holding`|||
|`Ordinary`|`100`|||
|||`31.12.20`|`31.12.19`|
|||`£`|`£`|
|`Aggregate capital and reserves`||`(17,567)`|`(25,846)`|
|`Profit for the year`||`8,279`|`5,855`|
```
SussexEnterpriseMarineLimited(SEM)was establishedtobuildandmaintaintheaccommodationvessel,T S
Resolute, on behalf of Christian Youth Enterprises Sailing Centre Limited.
```
```
TheinvestmentinSEMisaprogramme-relatedinvestment,intendedtoadvancethecharitablepurposes of
the parent charity and not solely to achieve a financial return. The investment is stated in the accounts at cost.
```
## **`13. STOCKS`**
|**`STOCKS`**|||
|---|---|---|
||`31.12.20`|`31.12.19`|
||`£`|`£`|
|`Stocks`|`1,690`|`902`|
|**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**|||
||`31.12.20`|`31.12.19`|
||`£`|`£`|
|`Trade debtors`|`66,010`|`19,643`|
|`Amounts owed by group undertakings`|`31,541`|`41,409`|
|`Other debtors`|`1,534`|`450`|
|`Accrued Gift Aid income`|`23,224`|`43,012`|
|`Prepayments`|`3,497`|`2,237`|
||`125,806`|`106,751`|
## **`14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
## **`Concessionary loans`**
```
'Amountsowedbygroupundertakings'representsaninterest-freeconcessionaryloantothecharity's wholly
owned subsidiary,Sussex EnterpriseMarineLimited(SEM). The loan was made to enableSEM to purchase and
maintainfixed assets on behalf of the parentcharity,in order to advancethe charitablepurposesof the parent
charity.Theloanis recognisedattheamountpaid,withthecarryingamountadjustedinsubsequentyears to
reflect repayments.
```
```
continued...
```
```
Page 19
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Notes to the Financial Statements - continued`**
## **`for the Year Ended 31 December 2020`**
## **`15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
|**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**|||
|---|---|---|
|`Other loans (see note 17)`
`Trade creditors`
`Social security and other taxes`
`Other creditors`
`Inter-company creditor`
`Deferred income`|`31.12.20`
`£`
`2,000`
`2,563`
`3,272`
`2,840`
`1`
`116,009`
`126,685`|`31.12.19`
`£`
`12,000`
`5,766`
`3,456`
`3,089`
`1`
`81,964`|
|||`106,276`|
## **`Deferred income`**
```
DeferredincomerepresentsfeesforcoursestakingplaceaftertheBalanceSheetdate.Themovement in
deferred income during 2020 was as follows:
```
||`31.12.20`|
|---|---|
||`£`|
|`At 1 January 2020`|`73,383`|
|`Amounts released from previous accounting periods`|`(73,383)`|
|`Income deferred in the current year`|`116,009`|
|||
|`At 31 December 2020`|`£116,009`|
|||
## **`16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR`**
|||`31.12.20`|`31.12.19`|
|---|---|---|---|
|||`£`|`£`|
|`Other loans (see note`|`17)`|`30,000`|`-`|
## **`17. LOANS`**
```
An analysis of the maturity of loans is given below:
```
||`31.12.20`|`31.12.19`|
|---|---|---|
||`£`|`£`|
|`Amounts falling due within one year on demand:`|||
|`Other loans`|`2,000`|`12,000`|
|`Amounts falling between one and two years:`|||
|`Other loans - 1-2 years`|`30,000`|`-`|
```
continued...
```
```
Page 20
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Notes to the Financial Statements - continued`**
## **`for the Year Ended 31 December 2020`**
## **`18. MOVEMENT IN FUNDS`**
|**`Unrestricted funds`**
`General Fund`
`T S Resolute - Boat, Furniture and`
`Equipment`
**`Restricted funds`**
`Other restricted funds`
`Superstructure Fund`
`Fleet Fund`
`Delta Project Fund`
**`TOTAL FUNDS`**
`Net movement in funds, included in the above ar`
**`Unrestricted funds`**
`General Fund`
`T S Resolute - Boat, Furniture and`
`Equipment`
**`Restricted funds`**
`Other restricted funds`
`Superstructure Fund`
`Fleet Fund`
`Delta Project Fund`
**`TOTAL FUNDS`**|`At 1.1.20`
`£`
`189,647`
`798,020`
`987,667`
`2,932`
`1,887`
`8,197`
`609,609`
`622,625`
`1,610,292`
`e as follows:`||`Net`
`movement`
`in funds`
`£`
`90,494`
`(25,508)`
`64,986`
`677`
`2,500`
`2,750`
`155,481`
`161,408`
`226,394`
`Incoming`
`resources`
`£`
`481,929`
`-`
`481,929`
`1,806`
`2,500`
`2,750`
`217,250`
`224,306`
`706,235`||`Transfers`
`between`
`funds`
`£`
`7,884`
`-`
`7,884`
`(3,609)`
`5,384`
`(9,659)`
`-`
`(7,884)`
`-`
`Resources`
`expended`
`£`
`(391,435)`
`(25,508)`
`(416,943)`
`(1,129)`
`-`
`-`
`(61,769)`
`(62,898)`
`(479,841)`|`At`
`31.12.20`
`£`
`288,025`
`772,512`
`1,060,537`
`-`
`9,771`
`1,288`
`765,090`
`776,149`
`1,836,686`
`Movement`
`in funds`
`£`
`90,494`
`(25,508)`
`64,986`
`677`
`2,500`
`2,750`
`155,481`
`161,408`
`226,394`|
|---|---|---|---|---|---|---|
||||||||
||||||||
||||||||
||||||||
```
continued...
```
```
Page 21
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Notes to the Financial Statements - continued for the Year Ended 31 December 2020`**
## **`18. MOVEMENT IN FUNDS - continued`**
## **`Comparatives for movement in funds`**
|**`Unrestricted funds`**
`General Fund`
`T S Resolute - Boat, Furniture and`
`Equipment`
**`Restricted funds`**
`Other restricted funds`
`Superstructure Fund`
`Fleet Fund`
`Delta Project Fund`
**`TOTAL FUNDS`**|`At 1.1.19`
`£`
`268,943`
`799,289`
`1,068,232`
`4,684`
`17,293`
`11,292`
`-`
`33,269`
`1,101,501`|`Net`
`movement`
`in funds`
`£`
`(81,133)`
`(24,963)`
`(106,096)`
`(1,752)`
`2,500`
`4,530`
`609,609`
`614,887`
`508,791`|`Transfers`
`between`
`funds`
`£`
`1,836`
`23,695`
`25,531`
`-`
`(17,906)`
`(7,625)`
`-`
`(25,531)`
`-`|`At`
`31.12.19`
`£`
`189,646`
`798,021`|
|---|---|---|---|---|
|||||`987,667`
`2,932`
`1,887`
`8,197`
`609,609`|
|||||`622,625`|
|||||`1,610,292`|
```
Comparative net movement in funds, included in the above are as follows:
```
|**`Unrestricted funds`**
`General Fund`
`T S Resolute - Boat, Furniture and`
`Equipment`
**`Restricted funds`**
`Other restricted funds`
`Superstructure Fund`
`Fleet Fund`
`Delta Project Fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`414,142`
`1`
`414,143`
`8,053`
`2,500`
`4,530`
`639,588`
`654,671`
`1,068,814`|`Resources`
`expended`
`£`
`(495,275)`
`(24,964)`
`(520,239)`
`(9,805)`
`-`
`-`
`(29,979)`
`(39,784)`
`(560,023)`|`Movement`
`in funds`
`£`
`(81,133)`
`(24,963)`
`(106,096)`
`(1,752)`
`2,500`
`4,530`
`609,609`
`614,887`
`508,791`|
|---|---|---|---|
```
continued...
```
```
Page 22
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Notes to the Financial Statements - continued for the Year Ended 31 December 2020`**
## **`18. MOVEMENT IN FUNDS - continued`**
```
A current year 12 months and prior year 12 months combined position is as follows:
```
|**`Unrestricted funds`**
`General Fund`
`T S Resolute - Boat, Furniture and`
`Equipment`
**`Restricted funds`**
`Other restricted funds`
`Superstructure Fund`
`Fleet Fund`
`Delta Project Fund`
**`TOTAL FUNDS`**|`At 1.1.19`
`£`
`268,943`
`799,289`
`1,068,232`
`4,684`
`17,293`
`11,292`
`-`
`33,269`
`1,101,501`|`Net`
`movement`
`in funds`
`£`
`9,361`
`(50,471)`
`(41,110)`
`(1,075)`
`5,000`
`7,280`
`765,090`
`776,295`
`735,185`|`Transfers`
`between`
`funds`
`£`
`9,720`
`23,695`
`33,415`
`(3,609)`
`(12,522)`
`(17,284)`
`-`
`(33,415)`
`-`|`At`
`31.12.20`
`£`
`288,024`
`772,513`|
|---|---|---|---|---|
|||||`1,060,537`
`-`
`9,771`
`1,288`
`765,090`|
|||||`776,149`|
|||||`1,836,686`|
```
A currentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above
are as follows:
```
||`Incoming`|`Resources`|`Movement`|
|---|---|---|---|
||`resources`|`expended`|`in funds`|
||`£`|`£`|`£`|
|**`Unrestricted funds`**||||
|`General Fund`|`896,071`|`(886,710)`|`9,361`|
|`T S Resolute - Boat, Furniture and`||||
|`Equipment`|`1`|`(50,472)`|`(50,471)`|
||`896,072`|`(937,182)`|`(41,110)`|
|**`Restricted funds`**||||
|`Other restricted funds`|`9,859`|`(10,934)`|`(1,075)`|
|`Superstructure Fund`|`5,000`|`-`|`5,000`|
|`Fleet Fund`|`7,280`|`-`|`7,280`|
|`Delta Project Fund`|`856,838`|`(91,748)`|`765,090`|
||`878,977`|`(102,682)`|`776,295`|
|**`TOTAL FUNDS`**|`1,775,049`|`(1,039,864)`|`735,185`|
```
The purpose of each fund is as follows:
```
## **`Unrestricted General Fund`**
```
These are the 'free reserves' of the charity after allowing for all designated and restricted funds.
```
```
continued...
```
```
Page 23
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Notes to the Financial Statements - continued for the Year Ended 31 December 2020`**
## **`18. MOVEMENT IN FUNDS - continued`**
## **`Unrestricted T S Resolute Fund`**
```
ThisrepresentsthedepreciatedcostofbuildingTSResolute,thecharity'smulti-purpose accommodation
vessel, as well as the depreciated cost of the vessel's furniture and equipment.
```
## **`Restricted Superstructure Fund`**
```
The purposeof this fundis to financethe upgradingof partsof the exteriorof TS Resolute,improvingthe long
term weatherproofness overall and hence the longevity of the asset.
```
## **`Restricted Fleet Fund`**
```
The strategy for renewal of the CYESC fleet is to move to doing this on a cyclical basis, a few items each year.
```
## **`Restricted Project Fund`**
```
The purpose of this fund is to finance the redevelopment of the sailing centre premises.
```
## **`Transfers between funds`**
```
Transfersfromrestrictedtounrestrictedfundsrepresentcapitalexpenditureincurredfromrestricted funds
during2020.Thetransfershavebeenmadeonthebasisthattheconditionsoftherestrictedfund donations
aremetoncethespecifiedassetsareacquired,soallowingthecharitytousetheassetsacquiredon an
unrestricted basis for any charitable purpose.
```
## **`19. CONTINGENT LIABILITIES`**
## **`Legal claim related to cancelled school trips`**
```
After the year end, an insurancecompanymade a legal claim againstthe charityto recoupthe cost of pay-outs
madetosevenschoolsforcancelledtrips.Thetripswerescheduledfor2020andwerecancelleddueto the
governmentrestrictions.Thecharitywouldbeduetopay£26,989forthecancelledtripsiftheclaim was
successful.
```
```
The claim is being made on the basis the insurancecompanyconsidersthe charitya packageholiday company,
whichisboundbythesectorspecificregulations.Thecharityhasengagedlegalcounselandtheyareof the
opinionthatitisprobabletheclaimwillbeunsuccessful.Therefore,noprovisionhasbeenincludedin the
2020 accounts.
```
## **`20. OTHER FINANCIAL COMMITMENTS`**
```
The charityhas a commitmentto make the followingfutureminimumlease paymentsundera non-cancellable
operating lease for each of the following periods:
```
- `Not later than one year - £8,948`
- `Later than one year and not later than five years - £22,369`
```
continued...
```
```
Page 24
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Notes to the Financial Statements - continued`**
## **`for the Year Ended 31 December 2020`**
## **`21. RELATED PARTY DISCLOSURES`**
```
At31December2020thecharitywasowed£31,541(2019:£41,409)byitswhollyownedsubsidiary, Sussex
EnterpriseMarineLimited.Theloanisunsecured,interest-free,andarosefromfundssuppliedto the
subsidiary to purchase and maintain fixed assets for the parent charity.
```
```
Duringtheyeartheparentcharitywaschargedfeesandcommissionof£41,623(2019:£47,215)by its
subsidiary for services provided in maintaining the accommodation vessel T S Resolute.
```
```
Thecharityhasa closerelationshipwithChristianYouthEnterprises(CYE),registeredcharitynumber 287857.
CYE raises bursaryfundsto enabledisadvantagedyoungpeopleto attendevents and coursesrun by CYESC. In
2020, onlinedonationsto the bursaryfund totalling£269 were raisedby CYESC and paid over to CYE. CYE paid
£565 to CYESC to cover all or part of the cost of 11 disadvantaged young people attending events and courses.
```
## **`22. ULTIMATE CONTROLLING PARTY`**
```
The charity is controlled by the trustees.
```
```
Page 25
```
```
Christian Youth Enterprises Sailing
Centre
```
|**`INCOME AND ENDOWMENTS`**
**`Donations and legacies`**
`Donations`
`Gift aid`
`Legacies`
`Grants`
**`Other trading activities`**
`Shop sales`
`Fees receivable`
**`Investment income`**
`Deposit account interest`
**`Other income`**
`Gain on sale of tangible fixed assets`
`Other income`
**`Total incoming resources`**
**`EXPENDITURE`**
**`Raising donations and legacies`**
`Loss on sale of tangible fixed assets`
**`Other trading activities`**
`Opening stock`
`Purchases`
`Closing stock`
**`Charitable activities`**
`Wages`
`Social security`
`Pensions`
`Licences, rent and rates`
`Carried forward`|**`Detailed Statement of Financial Activities`**
**`for the Year Ended 31 December 2020`**|`31.12.20`
`£`
`405,008`
`40,535`
`-`
`96,757`
`542,300`
`90`
`160,106`
`160,196`
`3,479`
`250`
`10`
`260`
`706,235`
`-`
`902`
`1,503`
`(1,690)`
`715`
`217,819`
`13,407`
`4,003`
`14,885`
`250,114`|`31.12.19`
`£`
`632,701`
`62,735`
`65,462`
`6,000`
`766,898`
`2,746`
`292,768`
`295,514`
`1,482`
`-`
`4,920`
`4,920`
`1,068,814`
`2,118`
`430`
`1,825`
`(902)`
`1,353`
`201,621`
`11,547`
`3,601`
`13,403`
`230,172`|
|---|---|---|---|
|||||
```
This page does not form part of the statutory financial statements
```
```
Page 26
```
```
Christian Youth Enterprises Sailing
Centre
```
|**`Detailed Statement of Financial Activities`**
**`for the Year Ended 31 December 2020`**
**`Charitable activities`**
`Brought forward`
`Insurance`
`Light and heat`
`Telephone`
`Office expenses`
`Catering`
`Sundries`
`Cleaning`
`Cottage and flat: rent and running costs`
`Engine fuel`
`Motor and travel expenses`
`Protective clothing & equipment`
`Resources`
`Training and conferences`
`Repairs and renewals`
`Bad debts`
`Other Development Fund expenditure`
`Trainees and casual labour`
`Consultancy`
`Professional fees`
`Depreciation of site buildings`
`Depreciation of barge`
`Depreciation of barge furniture and equipment`
`Depreciation of site furniture and equipment`
`Depreciation of fleet`
`Depreciation of motor vehicles`
**`Support costs`**
**`Management`**
`Advertising & promotion`
`Bank charges`
`Legal and professional fees`
`Website`
**`Governance costs`**
`Accountancy and legal fees`
`Total resources expended`
**`Net income`**|`31.12.20`
`£`
`250,114`
`11,868`
`14,397`
`1,737`
`4,680`
`14,396`
`305`
`2,548`
`11,478`
`861`
`6,142`
`4,092`
`7,827`
`2,188`
`34,582`
`-`
`743`
`25,609`
`3,380`
`25,803`
`3,523`
`23,096`
`2,412`
`5,574`
`8,424`
`880`
`466,659`
`5,667`
`1,171`
`3,289`
`2,055`
`12,182`
`285`
`479,841`
`226,394`|`31.12.19`
`£`
`230,172`
`16,287`
`17,746`
`1,811`
`8,008`
`49,539`
`11,023`
`2,646`
`11,244`
`1,076`
`9,292`
`6,986`
`17,020`
`9,113`
`48,394`
`7,145`
`1,224`
`26,906`
`6,630`
`14,678`
`3,523`
`23,096`
`1,868`
`4,687`
`9,426`
`1,174`|
|---|---|---|
|||`540,714`
`8,088`
`1,836`
`4,451`
`694`|
|||`15,069`
`769`|
|||`560,023`|
|||`508,791`|
```
This page does not form part of the statutory financial statements
```
```
Page 27
```