```
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 2021
```
```
for
Christian Youth Enterprises Sailing
Centre
```
```
A.J. Bennewith & Co.
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 2021`**
|||**`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 2021`**
```
Thetrusteeswhoarealsodirectorsof thecharityforthepurposesof theCompaniesAct2006,presenttheirreport with
the financialstatementsof the charityfor the year ended31 December2021. The trusteeshave adoptedthe provisions of
AccountingandReportingbyCharities:StatementofRecommendedPracticeapplicabletocharitiespreparing their
accountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(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`**
```
The charity'sobjectiveis to advanceeducationin a broadsensein accordancewith the principlesof the Christian religion
amongpeopleof allagesandbeliefs.To thisend,CYESailingCentrewillworkextensivelybutnotexclusivelywith young
peoplethroughtheirschoolandleisuretimeactivities,seekingto developmental,emotionalandspiritualcapacities and
experienceof peopleof all ages. Volunteersare activelyencouragedto take part as activityleadersand helpers.There is a
volunteers'coordinatorand appropriatepoliciesand proceduresare set out in the VolunteerManual.Trainingis given as
appropriate.Thevolunteerprogrammeis alsopartof theongoingleadershipdevelopmentof peopleunder25 years old.
Volunteersareinvolvedinallareasoftheorganisationincludingcentremaintenance&repairs, fundraising,
administration,cateringand activityprovisionand leadership.Their contributioncannotbe quantifiedalthoughit makes a
big positive difference to the charity's ability to meet its aims & objectives.
```
```
Page 1
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Report of the Trustees for the Year Ended 31 December 2021`**
## **`ACHIEVEMENT AND PERFORMANCE`**
```
The Trusteesand CentreDirectorregularlyreviewwhat the centreis offeringand to whom,with a view to improving and
sometimesdiversifyingthealreadyimpressivelistofevents.Weusuallyrunweeklyeventssuchas"OnBoard", "Young
Guns YouthGroup"and eventsfor PACSO,a groupfor childrenwith disabilities,and theirfamilies,with whom we partner
to providewater-basedactivities.The centrecontinuesto benefitfromhavinga widerangeof volunteerstaffwho, along
withthepermanentstaff,consistentlyprovidea widerangeofexperiencesandchallengestothemanyclientswho visit
the centrewhetherit be for a day or a week.Many schoolswith childrenof variousages and from different backgrounds,
ethnicity,faiths,and abilityattendthe centreduringthe yearand we continueto receivea veryhighlevelof outstanding
feedbackacrossallareasofthecentre.TheHospitalityTeamonceagainachievedthehighestratingof5intheir Food
HygieneInspection.Theyremaincommittedto havinghealthyoptionsandwell-balancedmealsavailablethroughout 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 2021 the charity continued to be adversely affected by the COVID 19 pandemic and partially prevented
from trading by the continued UK Government regulations.
```
```
All but 2 staff were flexibly furloughed Jan- Mar and we once again benefitted from CJRS payments from
HMRC to support our salary expenses. During 2021 volunteers were not allowed on site for the first quarter
of the year.
```
```
Over Easter2021 the charityran 55 differentsmall (up to 10 person)individualnon-residentialevents,for all ages, closely
followingCOVIDprecautionsandregulations.ResidentialactivitiescouldstartinMay,withfamily,youth,and school
events.Apartfromthecancellationof 3 residentialcampsanda weekendof RYAcoursesdueto a Covidoutbreakat the
start of the school summer holidays, the charity was able to run a full programme from May until October.
```
```
NormallyinDecemberthestaffteamwouldtraveltoaround30schoolstodeliveraChristmasassemblymessage. This
wasnotpossibleforabouthalfoftheschoolsduetoCOVIDin2021andsotheydevelopedavideopresentation which
was circulated to those schools and widely viewed on YouTube by additional individuals.
```
```
The Trustees continue to meet at least four times a year, in addition to the many hours spent both
individually and collectively, seeking the best way forward for the on-going development of the charity.
Their main activity was monitoring financial performance in view of the Covid restrictions on guests and
therefore income.
```
```
In addition the trustees...
```
```
-Continuedtosupportthedesignanddevelopmentofplansfornewaccommodationandfacilitiestoreplace existing
staff accommodation, visitors changing and wash areas, stores & workshop through the building project team.
```
```
- Reviewed the Risk Register
```
```
- Monitored and complied with new regulations as they occurred
```
```
- Arranged Compliance Inspection & met or exceeded requirements
```
```
- Exercised good governance through the compliance check List
```
```
- Re-appointed trustees
```
```
Page 2
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Report of the Trustees for the Year Ended 31 December 2021`**
## **`FINANCIAL REVIEW`**
## **`Review of 2021`**
```
DuetoCovid,incomefromSchoolsgroupsandindividualswaslowerthanusual.Inordertooffsetthislossof income,
budgets were severely cut and the majority staff placed part time on the government furlough scheme.
```
```
The LIFELINEappeallaunchedin 2020and supportedby many individualsand some trustscontinuedin 2021and raised a
further £45,000 in the financial year.
```
```
Excludingtangiblefixedassetsandrestrictedfundbalances,theunrestrictednetcurrentassets/fundsofthecharity at
31st December 2021 were £139,400 including reserves.
```
## **`RESERVES POLICY`**
## **`Unrestricted reserves`**
```
Thetrusteesrecognisetheneedforthecharitytomaintainfreereservessufficienttocover3months management,
administrationsupportcosts,andsuchunexpectedcostsas may arisefromtimeto time,shouldthe charitysufferfrom a
reductioninitsincome.Thetrusteesconsiderthatgiventhecharity'sloyalsupporterbaseandtheusualstrong demand
formostofitscoursesandevents,thislevelofreservesissufficientforthecharity'sneeds.Duetothegenerosity of
supporterstotheLifelineappealthecharityhasbeenabletosetasidereservesof£100kthisyeartocover3 months
essential running costs.
```
## **`Restricted reserves`**
```
Additionalcapitalfundraisingtookplacein2021andrestrictedreservesof£206,000plusGiftAidduearenow held
specifically for the new building project, plus small additional funds for activity enhancement.
```
## **`FUTURE PLANS`**
```
By the end of 2021,we had received£810,000fromour generousdonortowardsour new building,namedProject Delta.
Constructionwhichwas due to commencein Oct 2021 was postponeddue to variousdelaysoutsideour control. Planning
permissionhasnowbeengrantedandtendersforconstructionwillbesoughtearlyin2022,withbuildingdueinstart in
October.Thetrustees,inpartnershipwiththecentrestaff,areactivelyseekingtoutilisethesailingcentre'sfacilities to
the maximum capacity throughout the year and to provide a good, relevant, and diverse programme for all.
```
```
1.TofulfilthemissionofCYESCandtoincreasetheincomefromthenewopportunitiespresentedbyTSResolute, the
accommodation vessel.
```
```
2.TocontinuetoenabletheCentreDirectortooperateeffectivelywithresponsibilityforthemanagementofthe staff
and centre,marketing,media and financialcontrol.The trainingof the staff and runningof activitiescontinueto be under
the responsibility of the Chief Instructor.
```
```
3.Toincreasecurrentlevelsoffundraising,particularlyinregular(monthly/quarterly)donationstofundthegrowth of
reserves and the general operation of the work of CYESC.
```
```
4. CYESC will continueto providea wide rangeof activitiesfor childrenand adultsat the activitycentre,continuingto run
RYAcoursesandtoseektotrainpeoplefromallages,ethnicgroups,ablebodiedanddisabledinaspectsof physical,
mental and spiritual development.
```
```
5. To work together with other like-minded organisations to fulfil the mission of CYESC.
```
```
Page 3
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Report of the Trustees for the Year Ended 31 December 2021`**
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Constitution`**
```
ChristianYouthEnterprisesSailingCentreLimitedisacompanylimitedbyguarantee,asdefinedbytheCompanies Act
2006andaregisteredcharitygovernedbyitsMemorandumandArticlesofAssociation,whichwereamended and
updated in April 2012.
```
## **`Trustees`**
```
Thetrusteeswhoservedduringtheyearandsincetheyear-end,areasdetailedonthecharityinformationpage. One
third(orthenearestnumbertoonethird)ofthetrusteesretirebyrotationateachAGM.Thetrusteestoretireshall be
thosewhohavebeenlongestinofficesincetheirlastelectionorappointment.Aretiringtrusteeshallbeeligible for
re-election.
```
## **`Structure, governance and management`**
```
The boardof trusteesgovernthe charity,workingwith the CentreDirector,DevelopmentDirector,and staff.The trustees
havevariousportfolios,includingmedical,safeguarding,teaching,compliance,fleet,financeandhumanresources. All
trusteesare givensufficientand appropriatetrainingon appointmentand are usuallygivenresponsibilitiesfor which they
have previousexperienceand for whichtheyare alreadytrainedin theirprofessionallives.The trusteeshave undertaken
a"skillsaudit"toestablishanygapsintheircollectiveknowledgeandexpertisewithaviewtoactivelyrecruit suitable
persons going forward.
```
## **`Related parties`**
```
Thecharity'swhollyownedsubsidiary,SussexEnterpriseMarineLimited(SEM),isresponsibleforrepairing and
maintainingTSResolute,andforpurchasingandmaintainingotherassetsasrequiredbytheparentcharity. Christian
YouthEnterprisesSailingCentreLimited(CYESC)alsohasacloserelationshipwithChristianYouthEnterprises (CYE),
registeredcharitynumber287857.CYE works alongsideCYESC with the objectiveof raisingfunds to enable disadvantaged
young people to attend Christian camps, and to enable training to be provided for outdoor activity leaders.
```
## **`Risk management`**
```
Thetrusteeshaveexaminedthemajorstrategic,businessandoperationalriskswhichthecharityfacesandconfirm that
systemshavebeenestablishedtoenableregularreportstobeproducedsothatthenecessarystepscanbetaken 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 2021`**
## **`Trustees`**
```
The directorsof the charitablecompany(hereafterreferredto as 'thecharity')are its trusteesfor the purposesof charity
law and throughoutthis reportare referredto collectivelyas 'the trustees'.The trusteesservingduringthe year and since
the year-end are as follows:
```
|`C Crossley`|`(Re appointed June 2020)`|`Chairperson, Staff Liaison`|
|---|---|---|
|`N E N Doney`|`(Re appointed June 2019)`|`Development Director`|
|`R M Doney`|`(Re appointed June 2020)`|`Schools`|
|`N I Rees`|`(Re appointed June 2021)`|`Finance & Development Projects`|
|`R I Walker`|`(Re appointed June 2019)`|`Centre/Medical`|
|`C J Adams`|`(appointed June 2021)`|`Fleet and Projects`|
|`H Watts*`|`(Did not re-stand 2021)`|`Safeguarding`|
|`N Houston`|`(Appointed June 2019)`|`Company Secretary`|
```
*A new trustee was sought to replace H Watts and E Slinn was appointed in March 2022 covering the same portfolio
```
```
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 & Co.
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 2021`**
## **`PUBLIC BENEFIT`**
```
The centreis open to all peopleaged 8 and over and also for youngerchildrenwhen they come as part of a family's event.
In 2011we fullyreviewedandensuredthatCYESCbeliefsandpracticesof the Christianreligionare capableof advancing
religionforthepurposesof charitylaw (PublicBenefitAssessmentReport,July2009)andcontinueto do so, on a regular
basis.
```
```
Volunteersareinvolvedinallareasoftheorganisationincludingcentremaintenance&repairs, fundraising,
administration,cateringand activityprovisionand leadership.Their contributioncannotbe quantifiedalthoughit makes a
big positive difference to the charity's ability to meet its aims & objectives.
```
```
Thecentrehasa workingpartnershipwithPACSO(ParentsandCarersSupportOrganisation)andotherspecialist schools
andgroupsto helpwiththecareof disabledchildrenandtheirfamilies.Thecentreusuallyalsoruns"OnBoard",an RYA
schemeaimedatencouraginganyyoungpersontogetsailing.Duringtheyear£8453ofgrantsfromtheBursary Fund
operatedbyaseparatecharitywereawardedto72youngpeopleenablingthemtocometocentreforschooltrips, as
part of a family's weekend or on a sailing course.
```
```
Incompilingthisreport,thetrusteeshavegivendueregardtothepublicbenefitguidanceasissuedbythe Charity
Commission.As a missioncommunityof peopleobeyingthe call of God to proclaimthe gospelin all placesand to draw all
peopleintoknowledgeofJesusChrist,CYESCworksoutitsPublicBenefitinseveralways.CYESCbelievesthat the
Christianfaithisofbenefittosocietyandindividualsbringingpersonaltransformationforpeaceandsocial harmony
whichgrowsfromwhatChristiansbelieveisGod'sultimatepurpose.MostpeopleareimpactedifChristians''live a
Christ-likelifeamongstthem,sharethe goodnewsof Jesus,demonstrateGod'slove,and prayerfullyexpectGod's power
to transform individuals, communities, and whole nations''.
```
```
CYESC seeks to demonstrate this benefit through its wide range of activities as detailed throughout the trustees' report.
```
```
Thisreporthas beenpreparedin accordancewiththe specialprovisionsof Part15 of the CompaniesAct 2006relating 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')`**
```
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021.
```
## **`Responsibilities and basis of report`**
```
As thecharity'strusteesof theCompany(andalsoits directorsforthepurposesof companylaw)youareresponsible for
the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
```
```
HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16ofthe2006 Act
andareeligibleforindependentexamination,I reportinrespectof my examinationof yourcharity'saccountsas carried
outundersection145oftheCharitiesAct2011('the2011Act').IncarryingoutmyexaminationIhavefollowed the
Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
```
## **`Independent examiner's statement`**
```
Sinceyourcharity'sgrossincomeexceeded£250,000yourexaminermustbeamemberofalistedbody.Ican confirm
that I am qualifiedto undertakethe examinationbecauseI am a registeredmemberof Instituteof Chartered Accountants
in England and Wales 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)).`
```
I have no concernsand have come acrossno othermattersin connectionwith the examinationto whichattention should
be drawn in this report in order to enable a proper understanding of the accounts to be reached.
```
```
A J Bennewith
Institute of Chartered Accountants in England and Wales
A.J. Bennewith & Co.
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 2021`**
|`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`
`£`
`231,670`
`346,840`
`310`
`4,139`
`582,959`
`1,938`
`567,620`
`10,613`
`580,171`
`2,788`
`14,853`
`17,641`
`1,060,537`
`1,078,178`|`Restricted`
`funds`
`£`
`360,838`
`-`
`1,345`
`-`
`362,183`
`-`
`50,138`
`-`
`50,138`
`312,045`
`(14,853)`
`297,192`
`776,149`
`1,073,341`|`31.12.21`
`Total`
`funds`
`£`
`592,508`
`346,840`
`1,655`
`4,139`
`945,142`
`1,938`
`617,758`
`10,613`
`630,309`
`314,833`
`-`
`314,833`
`1,836,686`
`2,151,519`|`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`|
```
The notes form part of these financial statements
```
```
Page 8
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Balance Sheet`**
## **`31 December 2021`**
|`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`
`£`
`925,981`
`1`
`925,982`
`1,612`
`108,569`
`167,964`
`278,145`
`(125,949)`
`152,196`
`1,078,178`
`-`
`1,078,178`|`Restricted`
`funds`
`£`
`-`
`-`
`-`
`-`
`-`
`1,073,341`
`1,073,341`
`-`
`1,073,341`
`1,073,341`
`-`
`1,073,341`|`31.12.21`
`Total`
`funds`
`£`
`925,981`
`1`
`925,982`
`1,612`
`108,569`
`1,241,305`
`1,351,486`
`(125,949)`
`1,225,537`
`2,151,519`
`-`
`2,151,519`
`1,078,178`
`1,073,341`
`2,151,519`|`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`|
```
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006forthe year
ended 31 December 2021.
```
```
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 December 2021 in accordance with Section 476 of the Companies Act 2006.
```
```
The notes form part of these financial statements
```
```
continued...
```
```
Page 9
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Balance Sheet - continued`**
## **`31 December 2021`**
```
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.`
```
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies
subject to the small companies regime.
```
```
The financialstatementswere approvedby the Boardof Trusteesand authorisedfor issueon .............................................
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 2021`**
`31.12.21`
`Notes`
`£`
**`Cash flows from operating activities`**
`Cash generated from operations`
`1`
`362,215`
`Net cash provided by operating activities`
`362,215`
**`Cash flows from investing activities`**
`Purchase of tangible fixed assets`
`(26,494)`
`Sale of tangible fixed assets`
`5,950`
`Interest received`
`1,655`
`Loaned to subsidiary`
`13,171`
`Net cash (used in)/provided by investing activities`
`(5,718)`
**`Cash flows from financing activities`**
`New loans in year`
`-`
`Loan repayments in year`
`(30,000)`
`Net cash (used in)/provided by financing activities`
`(30,000)`
**`Change in cash and cash equivalents in the`**
**`reporting period`**
`326,497`
**`Cash and cash equivalents at the beginning`**
**`of the reporting period`**
`914,808`
**`Cash and cash equivalents at the end of the`**
**`reporting period`**
`1,241,305`|`31.12.20`
`£`
`267,272`|
|---|---|
||`267,272`|
||`(10,857)`
`250`
`3,479`
`9,869`|
||`2,741`|
||`30,000`
`(10,000)`|
||`20,000`|
|||
||`290,013`
`624,795`|
||`914,808`|
```
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 2021`**
## **`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`
`Loss/(profit) on disposal of fixed assets`
`Interest received`
`Decrease/(increase) in stocks`
`Decrease/(increase) in debtors`
`(Decrease)/increase in creditors`
**`Net cash provided by operations`**
`2.`
**`ANALYSIS OF CHANGES IN NET FUNDS`**
`At 1.1.21`
`£`
**`Net cash`**
`Cash at bank`
`914,808`
`914,808`
**`Debt`**
`Debts falling due within 1 year`
`(2,000)`
`Debts falling due after 1 year`
`(30,000)`
`(32,000)`
**`Total`**
`882,808`|`31.12.21`
`£`
`314,833`
`44,663`
`967`
`(1,655)`
`78`
`4,065`
`(736)`
`362,215`
`Cash flow`
`£`
`326,497`
`326,497`
`-`
`30,000`
`30,000`
`356,497`|`31.12.20`
`£`
`226,394`
`43,909`
`(250)`
`(3,479)`
`(788)`
`(28,923)`
`30,409`
`267,272`
`At 31.12.21`
`£`
`1,241,305`
`1,241,305`
`(2,000)`
`-`
`(2,000)`
`1,239,305`|
|---|---|---|
```
The notes form part of these financial statements
```
```
Page 12
```
```
Christian Youth Enterprises Sailing
Centre
```
```
for the Year Ended 31 December 2021
```
## **`Notes to the Financial Statements`**
## **`1. ACCOUNTING POLICIES`**
## **`Basis of preparing the financial statements`**
```
Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicableto charitiespreparingtheir accountsin accordancewith the Financial Reporting
StandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting
Standard102'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andthe Companies
Act 2006. The financialstatementshave been preparedunder the historicalcost convention,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 charityhas entitlementto 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,itisprobablethata transferofeconomicbenefitswillberequiredinsettlement and
the amountof the obligationcan be measuredreliably.Expenditureis accountedfor on an accrualsbasisand has
beenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly
attributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwiththeuse of
resources.
```
## **`Tangible fixed assets`**
```
Tangiblefixedassetsarestatedatcost.Allboatspurchasedarecapitalised,butotherassetscostingless than
£2,000arenotcapitalised.Depreciationis providedat thefollowingannualratesinorderto writeoffthecost 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.
```
```
Restrictedfundscan onlybe usedfor particularrestrictedpurposeswithinthe objectsof the charity. Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.
```
```
continued...
```
```
Page 13
```
```
Christian Youth Enterprises Sailing
Centre
```
```
Notes to the Financial Statements - continued
for the Year Ended 31 December 2021
```
## **`1. ACCOUNTING POLICIES - continued`**
## **`Fund accounting`**
```
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
```
## **`Pension costs and other post-retirement benefits`**
```
The charitablecompanyoperatesa definedcontributionpensionscheme.Contributionspayableto the charitable
company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
```
## **`Programme-related investments and concessionary loans`**
```
Programme-relatedinvestmentsandconcessionaryloansaremadewhollyorinparttoadvance charitable
purposes and not solely to achieve a financial return.
```
```
Programme-relatedinvestmentsandconcessionaryloansareinitiallyrecognisedattheamountpaidor received.
Thecarryingamountofloansisadjustedinsubsequentyearstoreflectrepaymentsandanyaccrued interest
payable or receivable.
```
## **`2. DONATIONS AND LEGACIES`**
|`Donations`
`Gift aid`
`Grants`
**`OTHER TRADING ACTIVITIES`**
`Shop sales`
`Fees receivable`|`31.12.21`
`£`
`466,587`
`30,230`
`95,691`
`592,508`
`31.12.21`
`£`
`2,599`
`344,241`
`346,840`|`31.12.20`
`£`
`405,008`
`40,535`
`96,757`|
|---|---|---|
|||`542,300`|
|||`31.12.20`
`£`
`90`
`160,106`|
|||`160,196`|
## **`3. OTHER TRADING ACTIVITIES`**
```
continued...
```
```
Page 14
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Notes to the Financial Statements - continued`**
## **`for the Year Ended 31 December 2021`**
## **`4. INVESTMENT INCOME`**
|`Deposit account interest`
**`5.`**
**`CHARITABLE ACTIVITIES COSTS`**
`Direct charitable`
`Management and administration`
**`6.`**
**`SUPPORT COSTS`**
`Direct charitable`
`Management and administration`
**`7.`**
**`NET INCOME/(EXPENDITURE)`**|`Direct`
`Costs`
`£`
`614,808`
`550`
`615,358`|`31.12.21`
`31.12.20`
`£`
`£`
`1,655`
`3,479`
`Support`
`costs (see`
`note 6)`
`Totals`
`£`
`£`
`2,950`
`617,758`
`10,063`
`10,613`
`13,013`
`628,371`
`Management`
`£`
`2,950`
`10,063`
`13,013`|
|---|---|---|
```
Net income/(expenditure) is stated after charging/(crediting):
```
||`31.12.21`|`31.12.20`|
|---|---|---|
||`£`|`£`|
|`Depreciation - owned assets`|`44,662`|`43,910`|
|`(Deficit)/surplus on disposal of fixed assets`|`967`|`(250)`|
## **`8. TRUSTEES' REMUNERATION AND BENEFITS`**
```
During2021,thecharitymadepaymentsforconsultancyservicestotalling£4,581(2020:£3,380)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.
```
```
continued...
```
```
Page 15
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Notes to the Financial Statements - continued for the Year Ended 31 December 2021`**
## **`8. TRUSTEES' REMUNERATION AND BENEFITS - continued`**
## **`Trustees' expenses`**
```
During the year ended 31 December 2021 and 31 December 2020 no expenses were reimbursed to trustees.
```
```
During 2021 the charity purchased Trustees' Indemnity Insurance at a cost of £243 (2020: £243).
```
## **`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`|`31.12.21`
`£`
`222,685`
`13,328`
`4,369`
`240,382`
`31.12.21`
`11`|`31.12.20`
`£`
`217,819`
`13,407`
`4,003`|
|---|---|---|
|||`235,229`|
|||`31.12.20`
`10`|
```
No employees received emoluments in excess of £60,000.
```
```
Grossremunerationof £41,225in total(2020:£39,481)was paidto two membersof Key Management Personnel
in 2021. Pension contributions of £912 (2020: £897) were also made on behalf of 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`|`Unrestricted`
`funds`
`£`
`320,335`
`160,196`
`1,138`
`260`
`481,929`
`715`
`403,761`
`12,467`|`Restricted`
`funds`
`£`
`221,965`
`-`
`2,341`
`-`
`224,306`
`-`
`62,898`
`-`|`Total`
`funds`
`£`
`542,300`
`160,196`
`3,479`
`260`|
|---|---|---|---|
||||`706,235`
`715`
`466,659`
`12,467`|
```
continued...
```
```
Page 16
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Notes to the Financial Statements - continued for the Year Ended 31 December 2021`**
## **`10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued`**
|**`Total`**
**`NET INCOME`**
**`Transfers between funds`**
**`Net movement in funds`**
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
**`TOTAL FUNDS CARRIED FORWARD`**
**`11.`**
**`TANGIBLE FIXED ASSETS`**
**`COST`**
`At 1 January 2021`
`Additions`
`Disposals`
`At 31 December 2021`
**`DEPRECIATION`**
`At 1 January 2021`
`Charge for year`
`Eliminated on disposal`
`At 31 December 2021`
**`NET BOOK VALUE`**
`At 31 December 2021`
`At 31 December 2020`||`Unrestricted`
`funds`
`£`
`416,943`
`64,986`
`7,884`
`72,870`
`987,667`
`1,060,537`
`Barge`
`£`
`1,154,779`
`-`
`-`
`1,154,779`
`385,460`
`23,095`
`-`
`408,555`
`746,224`
`769,319`||`Restricted`
`funds`
`£`
`62,898`
`161,408`
`(7,884)`
`153,524`
`622,625`
`776,149`
`Barge`
`furniture`
`and`
`equipment`
`£`
`26,662`
`-`
`-`
`26,662`
`19,424`
`2,062`
`-`
`21,486`
`5,176`
`7,238`||`Total`
`funds`
`£`|
|---|---|---|---|---|---|---|
|||||||`479,841`|
|||||||`226,394`
`-`|
|||||||`226,394`
`1,610,292`|
|||||||`1,836,686`|
|||||||`Site`
`buildings`
`£`
`176,153`
`-`
`-`
`176,153`
`77,507`
`3,523`
`-`
`81,030`
`95,123`
`98,646`|
||||||||
||||||||
||||||||
||||||||
||||||||
```
continued...
```
```
Page 17
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Notes to the Financial Statements - continued for the Year Ended 31 December 2021`**
## **`11. TANGIBLE FIXED ASSETS - continued`**
|**`COST`**
`At 1 January 2021`
`Additions`
`Disposals`
`At 31 December 2021`
**`DEPRECIATION`**
`At 1 January 2021`
`Charge for year`
`Eliminated on disposal`
`At 31 December 2021`
**`NET BOOK VALUE`**
`At 31 December 2021`
`At 31 December 2020`|`Site`
`furniture`
`and`
`equipment`
`£`
`94,752`
`-`
`-`
`94,752`
`69,268`
`5,224`
`-`
`74,492`
`20,260`
`25,484`|`Fleet`
`£`
`143,620`
`26,494`
`(33,620)`
`136,494`
`95,882`
`10,097`
`(26,703)`
`79,276`
`57,218`
`47,738`|`Motor`
`vehicles`
`£`
`4,695`
`-`
`-`
`4,695`
`2,054`
`661`
`-`
`2,715`
`1,980`
`2,641`|`Totals`
`£`
`1,600,661`
`26,494`
`(33,620)`
`1,593,535`
`649,595`
`44,662`
`(26,703)`
`667,554`
`925,981`
`951,066`|
|---|---|---|---|---|
```
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 2021 and 31 December 2021`|`100`|
|**`PROVISIONS`**||
|`At 1 January 2021 and 31 December 2021`|`99`|
|**`NET BOOK VALUE`**||
|`At 31 December 2021`|`1`|
|`At 31 December 2020`|`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 2021`**
## **`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`|||
|||`31.12.21`|`31.12.20`|
|||`£`|`£`|
|`Aggregate capital and reserves`||`273`|`(17,567)`|
|`Profit for the year`||`17,840`|`8,279`|
```
SussexEnterpriseMarineLimited(SEM)wasestablishedtobuildandmaintaintheaccommodationvessel,T S
Resolute, on behalf of Christian Youth Enterprises Sailing Centre Limited.
```
```
TheinvestmentinSEMisaprogramme-relatedinvestment,intendedtoadvancethecharitablepurposesof the
parent charity and not solely to achieve a financial return. The investment is stated in the accounts at cost.
```
## **`13. STOCKS`**
|**`13.`**|**`STOCKS`**|||
|---|---|---|---|
|||`31.12.21`|`31.12.20`|
|||`£`|`£`|
||`Stocks`|`1,612`|`1,690`|
|**`14.`**|**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**|||
|||`31.12.21`|`31.12.20`|
|||`£`|`£`|
||`Trade debtors`|`60,206`|`66,010`|
||`Amounts owed by group undertakings`|`18,369`|`31,541`|
||`Other debtors`|`1,884`|`1,534`|
||`Accrued Gift Aid income`|`19,705`|`23,224`|
||`Prepayments`|`8,405`|`3,497`|
|||`108,569`|`125,806`|
## **`Concessionary loans`**
```
'Amountsowedbygroupundertakings'representsaninterest-freeconcessionaryloantothecharity's wholly
ownedsubsidiary,SussexEnterpriseMarineLimited(SEM).TheloanwasmadetoenableSEMtopurchase and
maintainfixedassetsonbehalfoftheparentcharity,inordertoadvancethecharitablepurposesofthe parent
charity.Theloanisrecognisedattheamountpaid,withthecarryingamountadjustedinsubsequentyears to
reflect repayments.
```
```
continued...
```
```
Page 19
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Notes to the Financial Statements - continued`**
## **`for the Year Ended 31 December 2021`**
## **`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`|`31.12.21`
`£`
`2,000`
`3,569`
`4,400`
`3,509`
`1`
`112,470`
`125,949`|`31.12.20`
`£`
`2,000`
`2,563`
`3,272`
`2,840`
`1`
`116,009`|
|||`126,685`|
## **`Deferred income`**
```
Deferredincomerepresentsfees for coursestakingplace after the BalanceSheet date. The movementin deferred
income during 2021 was as follows:
```
|`At 1 January 2021`
`Amounts released from previous accounting periods`
`Income deferred in the current year`
`At 31 December 2021`
**`16.`**
**`CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR`**
`31.12.21`
`£`
`Other loans (see note 17)`
`-`
**`17.`**
**`LOANS`**
`An analysis of the maturity of loans is given below:`
`31.12.21`
`£`
`Amounts falling due within one year on demand:`
`Other loans`
`2,000`
`Amounts falling between one and two years:`
`Other loans - 1-2 years`
`-`|`31.12.21`|
|---|---|
||`£`|
||`116,009`|
||`(116,009)`|
||`112,470`|
|||
||`£112,470`|
|||
||`31.12.20`
`£`
`30,000`
`31.12.20`
`£`
`2,000`
`30,000`|
```
continued...
```
```
Page 20
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Notes to the Financial Statements - continued for the Year Ended 31 December 2021`**
## **`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`
`Bursary Fund`
**`TOTAL FUNDS`**
`Net movement in funds, included in the above are`
**`Unrestricted funds`**
`General Fund`
`T S Resolute - Boat, Furniture and`
`Equipment`
**`Restricted funds`**
`Other restricted funds`
`Fleet Fund`
`Delta Project Fund`
`Bursary Fund`
**`TOTAL FUNDS`**|`At 1.1.21`
`£`
`288,025`
`772,512`
`1,060,537`
`-`
`9,771`
`1,288`
`765,090`
`-`
`776,149`
`1,836,686`
`as follows:`|`Net`
`movement`
`in funds`
`£`
`27,946`
`(25,158)`
`2,788`
`2,100`
`-`
`2,000`
`305,654`
`2,291`
`312,045`
`314,833`
`Incoming`
`resources`
`£`
`582,959`
`-`
`582,959`
`2,465`
`2,000`
`355,427`
`2,291`
`362,183`
`945,142`||`Transfers`
`between`
`funds`
`£`
`10,808`
`4,045`
`14,853`
`-`
`-`
`(3,288)`
`(11,565)`
`-`
`(14,853)`
`-`
`Resources`
`expended`
`£`
`(555,013)`
`(25,158)`
`(580,171)`
`(365)`
`-`
`(49,773)`
`-`
`(50,138)`
`(630,309)`|`At`
`31.12.21`
`£`
`326,779`
`751,399`
`1,078,178`
`2,100`
`9,771`
`-`
`1,059,179`
`2,291`
`1,073,341`
`2,151,519`
`Movement`
`in funds`
`£`
`27,946`
`(25,158)`
`2,788`
`2,100`
`2,000`
`305,654`
`2,291`
`312,045`
`314,833`|
|---|---|---|---|---|---|
|||||||
|||||||
|||||||
|||||||
```
continued...
```
```
Page 21
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Notes to the Financial Statements - continued for the Year Ended 31 December 2021`**
## **`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 1.1.20`
`£`
`189,647`
`798,020`
`987,667`
`2,932`
`1,887`
`8,197`
`609,609`
`622,625`
`1,610,292`|`Net`
`movement`
`in funds`
`£`
`90,494`
`(25,508)`
`64,986`
`677`
`2,500`
`2,750`
`155,481`
`161,408`
`226,394`|`Transfers`
`between`
`funds`
`£`
`7,884`
`-`
`7,884`
`(3,609)`
`5,384`
`(9,659)`
`-`
`(7,884)`
`-`|`At`
`31.12.20`
`£`
`288,025`
`772,512`|
|---|---|---|---|---|
|||||`1,060,537`
`-`
`9,771`
`1,288`
`765,090`|
|||||`776,149`|
|||||`1,836,686`|
```
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`
`£`
`481,929`
`-`
`481,929`
`1,806`
`2,500`
`2,750`
`217,250`
`224,306`
`706,235`|`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
`(391,435)`
`90,494`
`(25,508)`
`(25,508)`
`(416,943)`
`64,986`
`(1,129)`
`677`
`-`
`2,500`
`-`
`2,750`
`(61,769)`
`155,481`
`(62,898)`
`161,408`
`(479,841)`
`226,394`|`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
`(391,435)`
`90,494`
`(25,508)`
`(25,508)`
`(416,943)`
`64,986`
`(1,129)`
`677`
`-`
`2,500`
`-`
`2,750`
`(61,769)`
`155,481`
`(62,898)`
`161,408`
`(479,841)`
`226,394`|
|---|---|---|---|
||||`64,986`
`677`
`2,500`
`2,750`
`155,481`|
||||`161,408`|
||||`226,394`|
```
continued...
```
```
Page 22
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Notes to the Financial Statements - continued for the Year Ended 31 December 2021`**
## **`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`
`Bursary 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`|`Net`
`movement`
`in funds`
`£`
`118,440`
`(50,666)`
`67,774`
`2,777`
`2,500`
`4,750`
`461,135`
`2,291`
`473,453`
`541,227`|`Transfers`
`between`
`funds`
`£`
`18,692`
`4,045`
`22,737`
`(3,609)`
`5,384`
`(12,947)`
`(11,565)`
`-`
`(22,737)`
`-`|`At`
`31.12.21`
`£`
`326,779`
`751,399`|
|---|---|---|---|---|
|||||`1,078,178`
`2,100`
`9,771`
`-`
`1,059,179`
`2,291`|
|||||`1,073,341`|
|||||`2,151,519`|
```
A currentyear12 monthsandprioryear12 monthscombinednetmovementin funds,includedin theabove are
as follows:
```
||`Incoming`|`Resources`|`Movement`|
|---|---|---|---|
||`resources`|`expended`|`in funds`|
||`£`|`£`|`£`|
|**`Unrestricted funds`**||||
|`General Fund`|`1,064,888`|`(946,448)`|`118,440`|
|`T S Resolute - Boat, Furniture and`||||
|`Equipment`|`-`|`(50,666)`|`(50,666)`|
||`1,064,888`|`(997,114)`|`67,774`|
|**`Restricted funds`**||||
|`Other restricted funds`|`4,271`|`(1,494)`|`2,777`|
|`Superstructure Fund`|`2,500`|`-`|`2,500`|
|`Fleet Fund`|`4,750`|`-`|`4,750`|
|`Delta Project Fund`|`572,677`|`(111,542)`|`461,135`|
|`Bursary Fund`|`2,291`|`-`|`2,291`|
||`586,489`|`(113,036)`|`473,453`|
|**`TOTAL FUNDS`**|`1,651,377`|`(1,110,150)`|`541,227`|
```
The purpose of each fund is as follows:
```
```
continued...
```
```
Page 23
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Notes to the Financial Statements - continued for the Year Ended 31 December 2021`**
## **`18. MOVEMENT IN FUNDS - continued`**
## **`Unrestricted General Fund`**
```
These are the 'free reserves' of the charity after allowing for all designated and restricted funds.
```
## **`Unrestricted T S Resolute Fund`**
```
ThisrepresentsthedepreciatedcostofbuildingT S Resolute,thecharity'smulti-purposeaccommodation vessel,
as well as the depreciated cost of the vessel's furniture and equipment.
```
## **`Restricted Superstructure Fund`**
```
ThepurposeofthisfundistofinancetheupgradingofpartsoftheexteriorofTSResolute,improvingthe long
term weatherproofed 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.
```
## **`Restricted Bursary Fund`**
```
TheBursaryFundwasestablishedtoenableyoungpeoplefromallfinancialbackgroundstobenefitfrom the
uniqueirresistibleexperiencesthat CYESC has to offer.Bursariesof up to 50% of the cost of coursesare offered to
anyyoungperson,subjecttoreceiptofastatementoffinancialhardship,oftenfromaHeadteacheror pastor,
and approval by CYE.
```
## **`Transfers between funds`**
```
Transfersfromrestrictedtounrestrictedfundsrepresentcapitalexpenditureincurredfromrestricted funds
during2021.Thetransfershavebeenmadeonthebasisthattheconditionsoftherestrictedfunddonations are
metoncethespecifiedassetsareacquired,soallowingthecharitytousetheassetsacquiredonan unrestricted
basis for any charitable purpose.
```
## **`19. CONTINGENT LIABILITIES`**
## **`Legal claim related to cancelled school trips`**
```
Duringtheyearend,an insurancecompanymadea legalclaimagainstthecharityto recoupthecostof pay-outs
madetosevenschoolsforcancelledtrips.Thetripswerescheduledfor2020andwerecancelleddueto the
governmentrestrictions.Thecharitywouldbeduetopay£26,989forthecancelledtripsiftheclaim was
successful.
```
```
The claimwas madeon the basisthe insurancecompanyconsidersthe charitya packageholidaycompany, which
isboundbythesectorspecificregulations.Ithassincebeenestablishedthatthisisnotthecaseandthe initial
claimwasunsuccessful.However,thecharityisyettoreceiveconfirmationthata furtherclaimwillnotbe made
on a different basis.
```
```
Thecharityisstillreceivingguidancefromlegalcounsel.Astheonlyclaimmadetodatewasunsuccessful, no
liability has been included in the 2021 accounts.
```
```
continued...
```
```
Page 24
```
```
Christian Youth Enterprises Sailing
Centre
```
## **`Notes to the Financial Statements - continued for the Year Ended 31 December 2021`**
## **`20. OTHER FINANCIAL COMMITMENTS`**
```
Thecharityhasacommitmenttomakethefollowingfutureminimumleasepaymentsundera 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 - £13,421`
## **`21. RELATED PARTY DISCLOSURES`**
```
At31December2021thecharitywasowed£18,369(2020:£31,541)byitswhollyownedsubsidiary, Sussex
EnterpriseMarineLimited.The loan is unsecured,interest-free,and arose from funds suppliedto the subsidiary to
purchase and maintain fixed assets for the parent charity.
```
```
Duringthe year the parentcharitywas chargedfees and commissionof £103,022(2020:£41,623)by its subsidiary
for services provided in maintaining the accommodation vessel T S Resolute.
```
```
The charityhas a closerelationshipwith ChristianYouthEnterprises(CYE),registeredcharitynumber287857. CYE
raisesbursaryfundstoenabledisadvantagedyoungpeopletoattendeventsandcoursesrunbyCYESC.CYE paid
£8,453 to CYESC to cover all or part of the cost of 72 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
```
## **`Detailed Statement of Financial Activities for the Year Ended 31 December 2021`**
||`31.12.21`|`31.12.20`|
|---|---|---|
||`£`|`£`|
|**`INCOME AND ENDOWMENTS`**|||
|**`Donations and legacies`**|||
|`Donations`|`466,587`|`405,008`|
|`Gift aid`|`30,230`|`40,535`|
|`Grants`|`95,691`|`96,757`|
||`592,508`|`542,300`|
|**`Other trading activities`**|||
|`Shop sales`|`2,599`|`90`|
|`Fees receivable`|`344,241`|`160,106`|
||`346,840`|`160,196`|
|**`Investment income`**|||
|`Deposit account interest`|`1,655`|`3,479`|
|**`Other income`**|||
|`Gain on sale of tangible fixed assets`|`(967)`|`250`|
|`Other income`|`5,106`|`10`|
||`4,139`|`260`|
|**`Total incoming resources`**|`945,142`|`706,235`|
|**`EXPENDITURE`**|||
|**`Other trading activities`**|||
|`Opening stock`|`1,690`|`902`|
|`Purchases`|`1,860`|`1,503`|
|`Closing stock`|`(1,612)`|`(1,690)`|
||`1,938`|`715`|
|**`Charitable activities`**|||
|`Wages`|`222,685`|`217,819`|
|`Social security`|`13,328`|`13,407`|
|`Pensions`|`4,369`|`4,003`|
|`Licences, rent and rates`|`16,878`|`14,885`|
|`Insurance`|`12,905`|`11,868`|
|`Carried forward`|`270,165`|`261,982`|
```
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 2021`**
||`31.12.21`|`31.12.20`|
|---|---|---|
||`£`|`£`|
|**`Charitable activities`**|||
|`Brought forward`|`270,165`|`261,982`|
|`Light and heat`|`17,487`|`14,397`|
|`Telephone`|`1,585`|`1,737`|
|`Office expenses`|`10,139`|`4,680`|
|`Catering`|`37,113`|`14,396`|
|`Sundries`|`5,976`|`305`|
|`Cleaning`|`7,949`|`2,548`|
|`Cottage and flat: rent and running costs`|`11,635`|`11,478`|
|`Engine fuel`|`1,030`|`861`|
|`Motor and travel expenses`|`7,400`|`6,142`|
|`Protective clothing & equipment`|`9,360`|`4,092`|
|`Resources`|`8,475`|`7,827`|
|`Training and conferences`|`10,464`|`2,188`|
|`Repairs and renewals`|`73,873`|`34,582`|
|`Other Development Fund expenditure`|`-`|`743`|
|`Trainees and casual labour`|`24,870`|`25,609`|
|`Consultancy`|`4,581`|`3,380`|
|`Recruitment`|`550`|`-`|
|`Professional fees`|`68,043`|`25,803`|
|`Depreciation of site buildings`|`3,523`|`3,523`|
|`Depreciation of barge`|`23,096`|`23,096`|
|`Depreciation of barge furniture and equipment`|`2,062`|`2,412`|
|`Depreciation of site furniture and equipment`|`5,224`|`5,574`|
|`Depreciation of fleet`|`10,097`|`8,424`|
|`Depreciation of motor vehicles`|`661`|`880`|
||`615,358`|`466,659`|
|**`Support costs`**|||
|**`Management`**|||
|`Advertising & promotion`|`5,529`|`5,667`|
|`Bank charges`|`1,660`|`1,171`|
|`Legal and professional fees`|`3,134`|`3,289`|
|`Website & IT Subscriptions`|`2,690`|`2,055`|
||`13,013`|`12,182`|
|**`Governance costs`**|||
|`Accountancy and legal fees`|`-`|`285`|
|`Total resources expended`|`630,309`|`479,841`|
|**`Net income`**|`314,833`|`226,394`|
```
This page does not form part of the statutory financial statements
```
```
Page 27
```