CHRISTIAN YOUTH ENTERPRISES SAILING CENTRE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Company Number 01988352 Charity Number 293781 Ja¢ob Cavenagh & Skeet Chartered Accountants 5 Robin Hood Lane Sutton Surrey SM1 2SW
CHRISTIAN YOUTH ENTERPRISES SAILING CENTRE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Cofttents Truslees report Report ol the Auditor Con501idaled Statement of Finanetal Activities Consolidated Balance Sheet Consolidated Cash F5ow slalemenl Balance Sheet Notes lo the Financial Slalements Pag• 10 12
CHRISTIAN YOUTH ENTERPRISES SAILING CENTRE COMPANY INFORMATION Trustees C Crossley NENDoney R M Doney NIRees R I Walker C J Adams N J F Houston E Slinn Secretary N J F Mouswn Reglstered oftlc• Jubilee Building Chidham Chichester Wesl Sussex P018 8TE Registertd number Company 0198B352 Charity 293781 Audltor Jacob Cavenagh & Skeel 5 Robin Hood Lane Sutton Surrey SM1 2SW Bankers HSBC 17 Market Place Blan¢Jlord Forum Dorsel DT11 7AG
CHRISTIAN YOUTH ENTERPRISES SAILING CENTRE TRUSTEES REPORT The trustees who are also directors of Ihe charty for Ihe purposes ol the Companies Act 2006. present their report with the financial statements of the charity lor the year ended 31 December 2023 The trustees have adopted Ihe provisions ol Accountirig and Reporting by Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable In the UK and Republic ol Ireland IFRS 1021 (effective 1 January 20191. They have also adopted the provisions ol the Good Govemance Code for the Voluntary and Community Sector OBJECTIVES AND ACTIVITies The charity's objective Is lo advance education in a broad sense In accordance with the principles of the Christian religion Amnno ppnple ol all aoes and beliefs To this end CYE salinq Cenlre will work extensively but not exclusively. with young people through their school and leisure time aclivities. seeking lo develop mental. emotional. and spir11ual capacities and experience of people of all ages. Volunteers afe actively encouraged lo lake part as activity leaders and helpers There Is a volunteers, coordinator and appropriate policies and procedures are sel out In the Volunteer Manual. Training Is given where required and enables part- time volunteers lo assist with maintenance & repairs. fundraising, administration and catering. as well as activity provision, on a casual basis Their contribution cannot be quantified allhovgh il makes a big posilive difference lo the cttarity's ability lo meet its aims & obieclives. We also have a structured development programme for young people under 25 They live onsite In community for a minimum of 12 months and develop leadership skills a5 well as formal Internationally reoognised adventurous activity ualificalions. whilst also participaling in a winter discipleship and oytreach programme. ACHIEVEMENT AND PERFORMANCE Transforming liv•s thfough outdoor a¢tivltles since 1985 From ttumble beginnings In 1985, CYE'S beau11ful site In Chichester Harbour has developed Into an established. respected and flourishing hub ol outdoor adventurous aciiv11ies, education yovlhwork and training lor thousands ol children. young people and young adults every year We run proles$ional. challenging and high-quality residential stay5 lor primary and secondary s¢h¢)ols. Throughout the yèar. we also provide events lor 8- 18 year olds Including adventure camps, sailing & kayaking courses, activity days and families. weekends We partner wiltt disability groups lo enable all children and young people lo have access lo outdoor activities on a regular basis In 2011 we raised funds and commissitsned our b¢spoke, 50-berth accommodation vessel. TS Resolule, which enabled an uplift In scope. prolessiona115m. and Quality lo what we were able lo offer Our capacity grew and our season extended throu9h the winter. This In¢re8sed the number ¢1 children an¢ young people we work with by 40 In 2023 the Prol•ct O<a building projèct was completed-. A dramatic improvement at the right time A5 CYESC'S work has developed. the much-5oved Enierprise building built by volLJnleers over 30 years ago, became unlit for purpose The aceommodalion lor our onsite staff and the changing areas for young people no longer met the minimum standards expecied The greater capacity an(1 versatility of TS Resolute and ihe subsequent Increases in Dur events, activity team and season, rneani we had outgrown the small structure In 2018, a substantial gift from a visionary donor lifed up a projecl with a singular vision. to significantly Improve and expand the changing. drying. workshop and staff accommodalion areas Ihfougm a new high-quality facility Project Delta was conceived. a purpose-built solution Ihat will meet the growing demand for many decades lo come Project Oelta offer5 the opportunity to navigate the eomplex challenges of our site and operations, while also greatly Improving inclusivity, sustainability, and environmental Impact Page 1
CHRISTIAN YOUTH ENTERPRISES SAILING CENTRE TRUSTEES REPORT Iconlinuedl As stjch, the design. lrnproves disabled access significantty Promotes high safeguarding standards Significantly reduces the carbon footprint through fenewable energies Reduces water use through rainwater harvesting Improves quality of living for onsite trainee staff Improves the storage systems lor equipment and protective clothing Harmonises with the Area ol Ou151anding Natural Beauty Uses materials sympathetic to the surrounding area Our accomFnodalion vessel TS Resolute was equipped with cutting- edge le¢hnologies in solar and ground-source heat, making a huge environmental step In the nghl direction Building on this, our new facility makes use ol mechanical venlilalion heat-recovery, further solar energy & ground-source heating as well as very high Insulation slandards to continue reducing our cafbon footprint We held an event In October 2023 to open and name the new facility Thwailes House" and Celebraied with the many supporters ol the project More ol what we do best. Our staff and volunteers are upheld frequently as Cfucial lo the positive Impacl CYE has We want lo take care ol these hard-working young adults as they learn how to become the leaders ol tomorrow While functional, the Improved team accommodation also promotes better work-lile balance and 9reaier opportunity to develop essential &, skills when living away Irom home lor the first time The *W". Improvements to volunteer lacilities will provide much-needed r capacity and Ilexibilily lor this diverse and dedicated leam The design also 5UPPOrts Improvement5 In cleaning. drying. and stofing essential clothing worn by young people on water activities and rescue craft. These and other efficiencies may reduce running co$1$ and allow more capacity for positive Inleraclions betsyeen staff and young people. The work ol CYE is unique. Our training programme lor young leaders, our cliVe approach lo adventurous activity, our proactive nurturing ol volunteers. and our development ol a Soving, Inclustve environment are Ihe perfect mix for over 2500 people ol all ages, abilities and backgrounds lo make leaps lo3rd In their S¢xial. mental. spiritual, and physical evelopment every year We ensure Irresistible experiences. gentle ¢hallenges and a supportive learn combine lo give the next generation a siable platform to jump off The ripples ol positive change now extend Into the tens ol thousands. The Impact ol this work Is Iile-long Schoolchildren relurn lo the ¢lassroom changed. Inspired and hopeful. Families become more united. Many young people return annually on events. or as volunteers, deepening skills. and consolidating growth Some relurn as trainee leaders and pas$ on Iheir learning lo the next generalion Due to CYE'S holistic approach over many years. hundreds ol adults now cite their experiences at CYE as fundamental to their Curn1 role. Impact, and Worldview Attèndees Residential other 367 Day vlsits 350 Adults Schoolchildren Youth rou Special Needs 196 Families Total 108 1283 312 CYESC operate a bursary fund through CYE Saillng Centre to Support those In financial need 3 groups £3.595 126 people £14,311 £17,906 Group bursary grants Individual Bursary Graft15 TOTAL Bursary grants in 2023 Page 2
CHRISTIAN YOUTH ENTERPRISES SAILING CENTRE TRUSTEES REPORT Iconlinuedl "I've really grown closer and developed a better lationShiP with God My dAs¢ussion group was r&ally good and I was so happy thal I had this opportunity It is literally whal I look fonvard Io 811 year ' Camper. age 13. "Evaryone the is so kind and helpfvl, and really funny I h8d heaps of fun. Thank you CYE. I love that l always have looooooooads of fun." RJ. Ignite camp8r. 'The children really enjoyed it and Il gavè many ol them the opportunily to try new activjties they hadny done before. 11 also helped them to build life skills such as teamwork. reInce and conlidence . School teacher. 'Our latiOnShip with CYE spans a decade and is invaluable lo us Together we have carefully honed a¢tivities lo suit Ihe needs of our children and young people for our weekly sessrt)ns and year-round events In 2023 PACSO had their first residential trip. I can't tell you whal this weekend meanl for our 18mili8s. It's so ra Tor Ihem lo slay away from home because il s such a big deal for Ihejr children wjlh special needs. Thank you lor creating a safe. weicoffling. envlronment wher8 everyon8 is valugd and appwialed Th8 CYE stamare jusl incredffbl8 and bring such warmth, kindngss and fun - thank youl" Emma Kennedy, PACSO CEO My two children came lo CYE lor the firsl time Ihis Summer. on 19nite 11 We applied lo you for a bursary and were so gralelul for the 40Yo ol Ihe cost that you cover&d. We wanled lo say a huge thank you- they had an absolutely brilliant lime They have talked a lol about the differenl leaders they mel. how much Ihey liked Ih8m. and recounted som8 ol the amazing teslimonigs they h8ard They lound Ihese really inspiring. They loved the aclivilies. especially the lunnelling and kay8kirtg lo Sosh8m. They raved about the lood, my son discovered he likes cour9ettes and hol sauce and has been eager lo try lots of new IhAngs since they got back My daughter has kepl her &"bl8 Oy her bed sinc8 her tUrn and is r88ding away, more than she everused to. We were gxpecljng Ihom lo be wjped out and want lo disappear lo their rooms on their relum. bul nol at all. They wfjre lull olloy and stones and so eagerto sharg Ihem. They definitely nee&8d a good scrubbing and a rtlcg hot W8sh lor all their damp, muddy clolh8s. bul we were deljghled 81 how happy and enlivened th&y were snd hav8 rgmained since Ih8y gol back. Many. many thanks., Par8nl ol Ignile campers FINANCIAL REVIEW Re$trrv•s policy - Unrfr•trlct•d res¢ri•s The Iruslees recognise the need lor the charity lo maintain free reserves 5uffi¢iernl lo cover 3 months management. adminislralion support cosls. and such unexpected cost5 as may anse from Iirne to time. should the charity Suffer from a reduction In ils income The trustee5 consider Ihal given the charity's loyal supporter base and the usual strong demand lor most ol Its courses and events Ihis level of reserves 1$ sufticient lor the charity s need$ Unrestricted cash reserves al the end 012023 were £36,00012022 £32.0001 Designaled cash reserves of £169.00012022 £206.0001 were also held, should the. Increasingly unlikely, applicalion lo zero rate Ihe new build be unsuccessful. Total lund$ held by the charity at the end of the year lolalled £3,030,921 12022". £2.507,8351 Of the total funds held, £77.97912022. £614.1411 were feslricled. Fundraising In line with the new Teporting requiren*nts included In the Charilies Act 2016 the Trustees are pleased to confirm that all fundraising is done In compliance with best fundraising practice Dufing 2023 we did not employ any professional fundraisers, fundraising being carrie(l out via our usual communication channels (annual UPL%ale publicatlon 'Masthead" social media. word ol mouth) lo our regular sUPPOrters We have noi subscribed to Ihe Fundraising Regulator, believing thal our Christian principles exceed the requirements of the regulator. There were no complaints or criticisms during the year about our fundraising activities FUTURE PLAN The trustees, in partnership with the centre 5tsff. arè actively seeking lo ulilise the sailing cenlre's facilities to the maximum capacity throughout the year and lo prov1de a good, relevant and diverse programme lor all. 1. To ILJllil the mission ol CYESC, to increase the incorne from the new opportunitie5 presented by Thwailes House and to review the remaining tscilities To continue to enable the Centre Direclor to operate effecbvely with responsibility for the rnanagement ol the staff and centre. rnarketing, media and financial control The training of the stsff and Tunning ol activities to be under the responsibility ol the Operation5 Manager. being replaced In 2024 3. To increase curn1 levels of unreslricled lundraisin atlicularf in r ular Imonlhl I uarterl I donations to fund Page 3
the growth ol reseNes and the general operational capacity of the work ol CYESC. 4 CYESC will continue to provide a wide range ol activilies for children and adults al the activity cenlre, continuing lo run RYA ¢OL)rses and lo seek to train people from all ages. ethnic groups. able bodied and disabled in aspects of physical, mental and spiritual development. 5 To work together with other like-minde(l organisations. including churches. to fulfil the mission ol CYESC STRUCTURE GOVERNANCE AND MANAGEMENT Christian Youth Enterprises Sailing Centre Lirnited Is a company limited by guarantee, as defined by the Companies Act 2008 and a registered charity. governed by Ils Memorandum and Articles of Association, which were amended and updated In April 2012. The Iruslees who served during Ihe year and since the year*nd. are as detailed below. One third lor the nearest number lo one Ihirdl ol the Iruslees retire by rotation at each AGM A feliring trustee shall be eligible for fe-eleclion. Tl)¥ L)oard of trustees govem the charity, workin9 With the Centre DireGtor. Development Dirc¢tor and 6t3ff. Tha trustee6 have variou5 Portfolios, including medical. safeguarding. teaching. complian¢e. fleet. finance and human fesource5. All Iruslees are 9iven sufficient and appropriale training on apPOnIment. are usually given responsibilities lor which they have previous experience and lor which they a already trained in their professional lives. The charity's wholly owned svbsidiary. Sussex Enterpnse Manne Limrted (SEMI, 1$ responsible IOT repairing and maintaining T S Resolute, It also seNe¢J as the ¢JeswJn & build Contractor for project DELTA The trustees have examined the major slralegic. business and operational risks which the charity laces and confirm that systems have been established lo enable regular reports lo be pr¢xluced so that the nece55ary steps ¢an be taken lo reduce those risks. The risk assessmenl Is reviewed annually In December. PRINCIPAL RISKS Ri$k Further Flood ation Leadership ol local tlood mitsgalion rou Re ular contact wilh schools and rou Strong Health & a Safely policy and operations procedures and reporting stem Succession Comments To propose rneasures Bookin levels Acc1denVEquipment lailure Use of Bursa Regularly reviewe¢J Ke Staff loss lannin Staff care Trustees The directors ol the charitable company Ihereafter relerred to as 'lhe charity'l are its trustees for the purposes of eharity law and throughout this report are referred lo collectively a$'the trustees, The trustees serving during the year and s1nce the year-end are as follows C Crossley (Re appointed June 20231 N E N Doney IRe appointed June 20221 R M Doney IRe appointed June 20231 N l Rees IRe appointed June 20211 R I Walker IRe appointed June 20231 C J Adams (Appointed June 20211 N Houston (Re Appointed June 20221 E Slinn (Appointed In March 20221 Day to day management is delegated lo" Centre Oireelor- Mark Sheldrake (appointed April 20181. Chairperson. Staff Liaison & HR Development Dire¢lorlSpecial projects hooks Content Finance Medical Fleet & training Company Secretary & HR SalegLtarding Page 4
CHRISTIAN YOUTH ENTERPRISES SAILING CENTRE TRUSTEES REPORT Iconlinuedl PUBLIC 8ENEFIT The centre Is open to all people aged 8 and over and lor younger children when they come a5 part of a larnily s event In 2011 we lully reviewed and ensured that CYESC beliefs and practices ol thè Christian religion are capable ol advancing religion for the purposes ol charity law (Public Benefit Assessment Report. July 20091 and continue to do so, on a regular basis Volunteers are Involved in all areas ol the organisation In¢luding centre maintenance & repairs. fundraising, admin151ralion, catering and activily provision and leadership Their contribution cannot be quantified although It makes a big positive difference lo the charity's ability lo meet It5 aims & obiect1ves. The centre has a working partnership with PACSO IParents and Carers Support Organisationl anLI other specia115t schools and group5 to help with the care ol disabled children and their families. The centre usually also runs 'On Board" an RYA scheme aimed al encouraging any young person to get sailing In compiling this report. the Iruslees have given due regard lo the public benefit guidance as Issued Dy tne Lnarity Commission CYESC works oul Ils Public Benefit in several ways CYESC believes that the Christian lailh Is ol benefit lo society and individuals bringing personal transformation for peace and social harmony which grow5 from what Christians believe is God's ultimate purpose Most people are Impacied Il Cttristians 'live a Christ-like life amongst them. share the good news ol Jesus. dernonstrate God's love. and prayerfully expect God's power lo transform Individuals. communities, and whole nations CYESC seeks lo demonstrate thi5 benefil through its wide range of activities as detailed throughout the trustees, report. TRUSTEES, RESPONSIBILITIES The directors a responsible lof preparin9 the Trustees, Report and the financial statements in accordance wil applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounling Practice) Company law requires the directors lo Ppare financial statements for each financial period which give a true and lair view of the slate ol affairs ol the charitable company and ol the Incoming resources and application of resources. Includin9 the Income and expenditure. ¢1 the charitable company lor that period In preparing these financ131 statements, the directors are required lo". select suitable accountin9 policies ant1 apply them consistently, observe the methods and prin¢iples In the Charilies SORP. make judgements and eslirnates that are asOnable and prudent, slate whether applicable UK Accounting Standafds have been lollowed. subject to any material departures disclosed and explained In Ihe financial statements. prepare the financial statements on the going concern basis unless It Is Inappropriate lo presume that the charitablg company will conlinLbe its operatsons. The directors are responsible lor keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of Ihe charitable company and enable Ihem lo ensure that the financial slaternenls comply with the Companies Act 2006. They are also responsible fof safeguarding the assets ol the charitable company and hence for taking feasonable steps for the prevention ol fraud and oiher Irfegularilies. DISCLOSURE OF INFORMATION TO AUDITORS To the best of the knowledge and belief ol the director5. there Is no felevanl Inlormalion that the company's auditors are not aware DI The directors have taken a11 the slep5 necessary lo ensure Ihat they are aware ol any relevant Information, and lo establish that the company's auditors l)ave been provided with such Information This report has been prepared In accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order ol the board of trustees on 27 June 2024 and signed on its behalf by C Crossley (Chair DI Trustees) Page 5
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CHRISTIAN YOUTH ENTERPRISES SAILING CENTRE Opinion We Thave audiied Ihe finan¢ial $iaiements of Chnstian Youlh Enterprise5 Sailir%J Centre (the 'parti ts)mpany'l and rts subSliary I'lhe 9roup'l lor the year ended 31 DeGeFnber 2023 which comprise the consdidaied Slalemeni of Financial Aclivrt$. lfve consolidated and parent Balan Sheeis. Ihe consolidated Cash Flow siaieffnt and notes to the financial statement5, Induding significant accounting policie5. The fin8n¢ial reporting framework thai has been appl In their preparation Is applicable law arKI Unite(J Kingdom Accounting Stsndar(l$. In¢luding FRS 102 The Financial Reporting siandard applicab In the UK and Republ£ of Ireland Iuniled Kingdom Genefally Accepted Accounting Fra11. In our opinion. the financsal Ststemenis give a true and fair ol the st8te of the group5 aTrJ of Ihe pwertt company'$ affairs a$ at 31 Decernber 2023 and of the group's Surplus lor the year then ended. have been properly pp8red In accordance wrth United Kingdom Generally A¢wted ACntIng Pract." have been prepared In a¢¢ordan¢e 1h the requireFrEn15 01 the Companie5 Act 2CQ6 Bas18 lor oplnlon We conducted our audit In aordanCe with IntematKnal stsndas on Auditing IUKI {ISAs IUKII and applicable law Our respongibilrties under those standards are further described In the Auditor's o$rrt)nsi)1lrt$ for the audit of the finanaal staternents $eciion ol our port. We are Independent of ltte group In accordance with Ihe elhi¢al wulnIents thai are felevant lo our audit of the financi81 statemen15 In the UK Including Ihe FRC'S Eihical Standard. 8nd have tulfiiied our Olherethi¢al responsibilitie8 In accordance wilh these qUIreMen18 We believe that the 8udil evi¢ence have obtained Is sulfiuenl and apyC9na io pro¥th o basis for ourepinion Con¢lu$lon8 relatlng to golng cor¢c8m In auditin9 the Iinan¢ial sialemenis. we ha¥e conclu¢Jed Ihat ¢h¥rfy's useolihe gn9 conc8rn basis olae¢ounlin9 In the preparation of Ihe financial siaiemenis 1$ appropriate Based on the WOTk we have performed. * have nol Identified any maierrol unLrtainiie$ rel8lin9 10 events or conditions that, Individually or collectively, rnay Ca$1 $19nifi¢ani doubl on the ¢h8rity'S ability to continue 1$ 8 going nc¢M for a penod of al least 12 m¢nih8 from when the financial $iaiemeni$ are aulhon$ekl Iw is$ue Our re$pon$iDilil$ ¥nd the wponsibili$ olthe direclors resped10 9offig c4nc¢m 8r8 descrb8d In Ihtr relavant $¢¢tions of th18 report Other inlomiaiion The oiner Inlormaiion compnses the Infornabon induded In tr annuol rr. olher th8n the finan081 st4iem?nls 8nd our audito¢¥ report lheon The directors are responsible for the other Inlormaiion u)niained %wlhin the annual pOrt Our opinion on the financial 51Jiemeni$ oe$ not Cover Ine Qlher Informaiion an¢. except lo the exlenl Ollrwse expli¢illy staled sn our report. do not exp$6 any form ol assur8nce Gonclu$ion Ine¢ Our re8ponsiDilily IS 10 read the other Infomaiion aThJ. In doing so. consK1er whether the other infuTmalion Is rn8ierially illGon5151enl with the Iinan¢ial sleMen1$ or our knowledge obtained In iThe course of Ih? audil. or Olhew5e appears to be materially rn19slaled 11 Kleniify $u¢h maierial In¢onsisiencie5 or apparent maienal missiaitnts. are required lo detemirE ¥vhelher Ihis gives ri%e lo a rn8leriai mi$$iaiem8nl lft Ihe financial $18temenis Ihemselves If based on the Wofk * have performed, concluLJe thai ihere Is a maten81 misslalemeni of thi$ Olher Inlomatn. are required lo report Ihat fa. Vve ha¥e nothing report In this regard Opinions on other mattvrn prescrlbed by th• Companle8 Act 2006 In our opinion, b8sed en the work unaertaken In the coutse ol our audil the Infomiaiion given In the directors. rtport for Ihe fmanraal yegr for Ihe financ1 $tolernls ure ppad 1$ consistent wil the financial $18tementS. and the 1Clor9, report has been prnpared in ¥¢cordance w•th applicab kg81 wyiremenls. Matters on which w¢ are rtqulr8d to report by exreption In the Iighl ol the knowleége and underSndIng of the group and Ihe parent company and rtg environmnt obtained In the course of the audil. we have not Identified maienal misslalemenls In the dirEGlOts' report We have nothing lo POrt respect of the follown9 matters in relatxjn to %thi¢h th¢ ¢ompans Act 20C6 Nui8 us to report to you If, in our tsequa accounting record5 haye not been kept by the parenl corwny. or retums adequate for our audtt have not been received IroFll branches noi v15I1ed by us. or the parent company financial Statemen are not In agement wrth the accounting rtrS and retums, Of certain d15c105ures of aireciors. rernuneration specified by law are nol tnade. or we have nol reoiyed all the Inlofmatiw and expLqnaInS we require for our audrt Page 6
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CHRISTIAN YOUTH ENTERPRISES SASLING CENTRE Iconlinuedl Responsibi1Stles of directors As explained rnore fu14y In ihe directors, sponsIbl1rtieS slernÈni. the diredor5 are responsible for the prepara1n of the financial slalemeTrt$ and ftsi being salislied that Ihtry give a and fair view. and for such Inlemal ¢xJnirol as the direclots deiermine Is e5$Th 10 enable the Pparatn ol financial statements that are free frorn rnenal rThsstalement. thether due to fraud or error In preparing the financial statements. the director5 are responsibk for assessing the group $ and the parent cornpany s ability lo continue 88 8 going con¢em. disclosing. a5 appli&8b. rnatters rÈkaied 10 going concern and u51ng the going concem ba515 of accounting Unle55 ltte directors ?Ilher Intend to liquidale the group Of the parent company or lo cease ¢)peralions. or have no rea11Slrt allemative but 10 de so Auditor's mponslbi1Stie8 lor the audlt of the fin•ncl•l Stalements Our objectives are 10 obtain reasonabÈ assJran¢e abovl tteiher the finafiaal 5taterrents a$ g ife loe from matenal m15$taiement. whèther (Jue 10 fraud or error. and 10 Issue an awlitof's feport Ihal In¢iudes our opinion Reasonable assurance Is a higtt level ol a55urance, but 15 not a guarantee thai an audil conducted In acco¢dance with ISAS {UKI wll aayS detect a malerial missiaiemeni when It exists M1$$1818menls can onse lrnud or effor and are consi¢Jered Ma1181 Il. Indivually or In the aggregate. they could reasonably be expeed lo Influence the e¢onomK decision5 of u$¢rs taken on the b•si$ olibe8e finants¥l siatennts The exlenl 10 which our prOdre$ are capab olde¢eing irregulathk•s. fr8ud 15 deiailed below.. 8858d on our understandin9 01 the group. Ihal Ihe pnncipal risks of non-compliant wlh law? and guI3110nS related lo employment and financial reporting gislatn ¥nd conside the extent lo ¥¥thich non<omp11ance myhl have a material eflecl on the financial $iaiÈmenls We also cOnsered Ih05e law$ and re9uLqlion5 Ih•l have a direct impact On Ihe preparation of the financial slalements such a$ Ihe Companies AGI 20Cé antt the Chantie$ Aci 207 1 We asse$$ed the 8u8ceptibility ol the group 5 finan¢K81 strienIS 10 m•ten81 mrd8t8lennl, Induding obtaining an understanding ol how fraud mi9hl o¢¢ur, by making enouines ol manageffeni. $erIng the Intem•l Mntrols In plac ènd diScu10n arnongst the eng8gemenl team. We delemiirvad ltral Ihe prin¢ipal risks %4ere rel•ied to managent biu in ¥¢ng eslirnltei, Psentation of Se1Y di$¢losed Ilem8, and managemenl override 0fntrOLl In responBe lo the n$k$ 1deniified ¥% ¢te5wned proureS whKh ineluded. bul re not Iimiied 10 th•llenging 8vJnrft8nt 8¢¢OUnling e8limale5. agreeing financial sl8iemeni ttisclosurel io undeflying 8upporftn9 Oo¢umenlaiAJn, r•vwin8 tw$tees rninuies, evaluating the group Inlern•l ¢onlfols and idenlifying and testing ioumol enirs There #re Inhefenl IimilaonI In the 8udil prrKedur•s des¢rthd above The m¢y removed Ihal laws 8nd 919110n$ are Irorn finan¢ial Iran$aciions. the le55 likely rt 1$ In81 would become aW8Te of non<omplianGe Maienal missiaierThJnts Ih414riae due lo fraud can be h¥rd¢r 10 aeleci than Ih05e thai arise Irom error as they may Involve delikrate Con&1ment or collusion A lurther descnplion of our responStIrtw for the Judil of the finanual stanI9 1$ locatsd on the Fin•n)al Reporting Council's ebsile al hllp Ilwth Ir¢ org ukJaudiiorsrespon•ibililies Thi$ 6P1)n lom8 part olsyJrauartof$ report. Othèr matter The ¢harily's Income was btrlow ihe Ihreshohd wber• •n •udil W85 required In thtr pnor year therefore Ihe comparative figure$ are not audited Use ol our rèport This report Is made SolY lo Ihe ¢ompany's ffrnbers, a$ a Wy. In accordance wlh cTh8pier 3 of Part 16 01 the Companies Aci 2006 Our audit work has been un¢Jertaken $0 Ihatvle might 51ale to Ihe company s ffernbets Ihos¢ matters are require(S10 Staie 10 them In an auditor'5 report and for no other purpose To Ihe ful91 extent pemrtted by law. ** do not actepi or a$$urne spOnSIbl11Y to anyone other than the company and the cornpany'5 membefs as a bc¥Jy. for our au41t rk. for Ih15 report. or for Ihe opinions have formed Mlrlam Hlck8on F¢A Isenior Statutory Auditor? for and on behall of J•¢ob Cavenagh & Ske•t Statutory Auditor Chartered Accountan S Rebw) Hotrj Lane Sutton Surrey SM1 2SW Dated. 24 So-pIÉLwW Page 7
CHRISTIAN YOUTH ENTERPRISES SAILING CENTRE CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (including the Income and Expenditure Account) FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Restricted 2022 Unrestricted Re5tri¢ted Unrestrictod Totsl Total Income from: Donations and legacies Charitable activities Investments Olh•r trading •¢tiviti•s Olher In¢ome 180.830 465,056 8.343 5.712 679.583 860,413 465,056 10,412 5,71? 266.101 323,689 584 4 n.4? 368.625 593 3.791 634,728 324,282 4,375 4.052 2.069 846 Total incorne (note 31 659 941 682 498 1 342 439 375 28 970 529 Expenditure on: Ra151ng funds 3,735 3,735 2.635 2,635 Charitable activities (note 41 777 426 8192 94 732 Total expenditure 38 192 53 14 484 Net l•xp•ndlturellin¢om• 1121.2201 644.306 523.086 1 1,8661 357.911 356,045 Transfer betsveen lund5 11 180 4681 Net movgmont in fundi 1.059.248 1 536.1621 523.086 815.245 1459,2001 356.045 107844 Fund balan$ brought forward 214 14 141 235 1073 341 -&14 141 2,507 83& Fund balancès ¢arrled fovmard 2.252 942 IQIO.921 1893.694 Page 8
CHRISTIAN YOUTH ENTERPRISES SAILING CENTRE CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2023 Company number: 01988352 2023 2022 Note Fixed assets Tangible assets 2,956,231 1,588.178 Curr•nl assets Stock Debtors Cash al bank and in hand Cash at bank and in hand- short term investment 3.016 184.515 282.855 86 994 557.380 2,880 216.650 855,602 156287 1,231,419 10 Creditors Amounts falling tjue within one year N•t ¢urr•nt assets 919 Total a88•t8 le88 curr•nt liabilities 3.158,421 2.507,835 Credltors.. Amounts falling due after more tttan one year 12 Net assets IL30.921 ?,&Q7,835 Repr050nttsd by. Unrestricted funds Reslricled funds 14a 13 2.952,942 1.893.694 614 141 I.&3& These financial stalements were approved by the dirKtors on 27 June 2024 and signed on their behalf by C Cr0551ey Chair of Trustèes Page 9
CHRISTIAN YOUTH ENTERPRISES SAILING CENTRE CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 Compan number: 01988352 2023 2022 Net cash provided by operating activities (see below) 701.994 446.344 Ca6h IIow8 u8•d in inv•stin9 aetivltk•s Interest Income Purchase ol tangible f1xed assets Proceeds on sale ol tangible fixed assets 10412 11.508.603) 4.375 1707.1501 Cash used In invtr8ting a¢tlvltl¢¥ 11.496.534) 1687.7271 Cash flow8 from financing activitles Proceeas from loans Loan repayments 160.000 Ca8h used In flnanclng activities 152.500 Decrease in cash and cash ¢qulvaleniB during the year 1 642.0401 1241,3831 Cash and cash equivalents al $18rt 01 year Cash and cash •quivalent8 at end of year J69.849 Cash flows from operatlng actl¥ili98 Nel movement of funds 523,086 356,045 Add back deprecialion charge Deduct Inlere$l Income shown In inve5ling aelivrties Lossllgainl on d15POS810l tangible fixed assets Decreasellincre8sel In deblors Increase In creditors Ilncreasellijecrease In stock 138.417 1 10.4121 476 32.135 18.428 46,063 1 4.3751 6181 1125,1241 175.621 1 12681 Net ¢88h provlded by operatlng actlvitie$ Analysi8 of ¢hanges in net debt At 01.01.23 Cash flows Non4ash changes At 31.12.23 Net cash Cash at bank 1.011.689 1642.0401 369,849 Debt Debts falling due within one year Debts falling due after one year Net debt 2,0001 1 25,0001 1 127 $001 127,0001 1127 5001 215.349 Page 10
CHRISTIAN YOUTH ENTERPRISES SAILING CENTRE BALANCE SHEET AS AT 31 DECEMBER 2023 Company number: 01988352 2023 2022 Note Fixad assets Tangible assets Investments 8b 2,990,032 1,609,560 2,990.033 1.609,561 Current assets 3.018 189 016 256.105 ?.AAn 228.862 775 581 6287 Debtors Cash at bank and in hand Cash al bank and in hand- short term inve51rnents 10 535.131 1,163.610 Creditorn Amounts falling due within one year 214 810 Net current assets 2249 948 800 Total ass•t8 less current Ilabillti•s 3.214,984 2,55e.361 Cr8ditorn.' Amounts fallin9 due in more than one ygar 12 127 500 Not assets 3,087.484 2.558,361 Repr•8•nted by.. Unrestricted lund5 Restr1cied funds 140 13 3.009.505 1,944.220 614 141 Total Funds The Cornpany s nel Income for the year ended 31 December 2023 was £529.12312022. £356.8421. These financial slalements were approved by the directors on 27 June 2024 and signed on their behalf by.. C Crossley Chair of Truste Page11
CHRISTIAN YOUTH ENTERPRISES SAILING CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES Charity information Christian Youth Enterprises Sailing Centre is a private Company limited by guarantee Incorporated in England and Wales. The registered office Is Jubilee Building. Chsdham, Chichester, West Sussex, P018 8TE. Accountlng convention The financial statements have been P pad In accordance with the charity's Memorandum & Article5 01 Association the Companies Act 2006, FRS 102 "The Financial Reporting Stsndard applicable In the UK and Republic DI Ireland" I'FRS In?") thp r.hArilip8 8nRP"AccoLJnting and Rèportino by Charities Statement of Recommended Practice applicable lo charities preparing their accotjnls in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021" (effective 1 January 20191 The charity Is a Public Benefit Entity a$ defined by FRS 102. The financial statements are ppared In sterling. which is ihe functional CurncY ol the chafity Monetary amounts In these financial slalemenls are rounded lo the nea$¢ £ The financial slalemen15 have been prepared under the hisloncal cost convenlion. The principal accounting policies adopted afe set out below. Going conctsm Al the time ol approving the financial stalemenls. the truslees have a 3$Onable expectslion that the charity has adequate resources lo continue In operational exislence lor the foSeeable lulure. Thus the Iruslees continue lo adopt the going concern basis ol accounting In preparing the financial statements ConsolSdation The group financial s18lemenls combine the results ol the company and Its subsidiary undertaking. Sussex Enterprise Marine Ltd. The accounis have been con501idaieiJ on a line by line basis A separ8ie Siatemenl of Financial Activitiès for the cornpany Itself Is not presented because the charity has taken advantage of the exemptions afforded by Seciion 408 of the Companies Acl 2006 Income Income is recognised when the charity Is legalty entitled lo il after any performance conditions have been mel. the amount$ can be measured lIablY. and it Is probable that inwme will be received. Cash donations are recogn15ed on receipl Other donations, InclutJing grants, are recognised once the charity has been nolilied ol the ¢onation. unless pertormance conditions require deferral ol the amount. Income lax recoverable In relation to tyonalions received under Gift Aid or deeds of covenant Is reeognised al the time of the donation. Legacies a recognised on receipt or otherwise il the charity has been notified of an Impending distribution, the amount can be esiimaled. and receipt is probable. If the amunl is not known, the legacy is Irealed a5 a conlingenl asset Income for activities to tse held in the future is deferred to the relevanl accounting period. Expenditure Expendilure 15 recognised once there is a legal or constructive obligatK•n to Iransler economic benefit lo a Ihird party, Il Is probable that a transfer of economic benefiis will be required In settlement. and the amount ol the obligation can be measured reliably. Page 12
CHRISTIAN YOUTH ENTERPRISES SAILING CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEMBER 2023 Icontinuedl ACCOUNTING POLICIES Icontinuedl Tangible fixed assets Tangible fixed assets are initially Tneasured at cost and subsequentty measured at cost or valijation, nel of depreciation and any Impairment105ses. Depreciation is recognised 50 as lo write off the cost or valuation ol assets less their residual values over their useful lives on the following bases." Leasehold sand and buildings Leasehold Improvemenis Plant and cquipment Fixtures and fittings Motor vehicles 2% straight line 3 85°/0 - 10% straight line 2tsJo Straight line 25% reducing balance 25% reducing balance Fixed a8s¥t Inv•stment8 Fixed asset Investments are Initially measured al transaction price excluding transaction costs. and are subsequenlly measured at lair value al each reporting dale Changes In fair value are recognised In nel Incomellexpendilurel for the year. Transaction costs are expensed as Incurred A subsi(liary is an entity eonlrolled by the charity. Control Is Ihe power lo govern the financia1 and operating policies of the enlily so as to obtain benelils from Ils aclivilies. Impairnient of flxed ass•t8 At each reportin9 end date. the charity reviews Ihe carrying amounts of1ts tangible assets to delemine whether Ihere is any Indication that those assets have suffered an Impairment loss. If any such Indication exists, the recoverable amount ol the asset Is eslimaled In order to determine the extent ol the impairment Ios51il any), Stocks Slock Is valued al the lower of cost and nel alis8b1e value. after making due all¢)wance for obsolete and slow- moving items Nel realisable value Is the eslimale(l Selling pe less all estimated costs of completion and c051s lo be Incurred in marketing, selling and dislnbulion Cash and cash equivalents Cash and cash equivalents Include cash in hand. deposits held al call with banks. other short-lemi liquid investments with original maturities ol three monihs or less. and bank overdrafts Bank overdraft5 are st)own within borrowing5 In Financial instruments The charity has elected lo apply the provisOnS of Section 11 'Basic Financial Instruments, and Section 12 '01tter Financial Instruments Issues. ol FRS 102 lo all ol Ils financial Instruments Financial instruments are re¢ognised In the charity'5 balance sheet when the charity becomes party lo the contractual provisions of the Instrurnenl Financial assets and Itabililies are offset, with the nel amounts presented In the financial statements, when there is a legally enforceable right to set off Ihe recognised amounts and there 15 an intention to settle on a nel ba515 or lo realise the asset and settle the liability simultar¢eously Page 13
CHRISTIAN YOUTH ENTERPRISES SAILING CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 {conlinuedl ACCOUNTING POLICIES {continuedl Basic financial assets Basic financial assets. which include debtors cash and bank balances. are Initially measured at transaction price Including transaction costs and are subsequently carried at arnortised ¢osl using the effective interest method unless the arrangement cons¢ilules a financing Iransaclion. where the transaction is measured at the present value of the future receipts discounted at a market rale of interest Financial assets classified as receivable w11hin one year are not amortised Basit financi81 liwhilitl#. Basic financial Iiabililies, Including ¢tIOrS and bank loan5 a Initially recognised al Iransacth'on Price unles5 the arrangement conslilules a financing Iransaclion. where the debt Instrument Is measured at the present value ol the lulure payments discounted at a market rale ol interest. Financial liabilities classified as payable within one year are not amortised. Debt Instruments are subsequently carried al amortised cost. using the effective Interest rate method. Tr8de creditors are obligations lo pay lor goods or services that have been acquired In the ordinary course of operation$ from suppliers Amount5 payable are classified as current liabilitie5 if payment Is due within one year or less If not, they are presented as non-currenl liabilities Trade Creditors are Tecognised Initially al transaction price and subsequently measured at amortise(J cost using the effeelive Interest method Derecognition ofiinan¢lal Ilabiliti•$ Financial Iiabililies are Oerecognised when the charity's contractual obli9alions expire or are diharged or cancelled. Employe• benelits The cost ol any unused holillay entitMent Is re¢ogni$ed In the pefiod In which the employee's service5 are received Termination benefits are recognised irnme<liately as an expense when the charity is demonstrably commilled lo lerminate the employment ol an employee or lo prov1de termination benefits Pen8lon costs Paymen15 to defined contribution retirement benefit schemes are charged as an expense as they fall due. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS In the application ol the charity's acwunling pol$. the ITUStees are required lo make judgements. eslim81es and assumptions about the carrying amouni of assets and 118bililies that are not adIlY apparent from other source5. The estimates and asso¢ialed assumptions are based on historical experience and other factors tttal are con51dered lo be relevant. Actual results may differ from these estimates. The eslimales and underfying assumptn$ are reviewed on an ongoing basis Revisions lo accounting estimate5 are recognised In the period In which the eslirnale Is revised where the vIsion affects only that period. or In the period ol Ihe revision and lulure periods where the ViSIOn affect5 tx)Ih current and lulure periods Page 14
CHRISTIAN YOUTH ENTERPRISES SAILING CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (conlinuedl INCOME Unrestricted Funds Restricted Funds Total 2023 Total 2022 Donations and legacies Donations and legacies Gift Aid Grants 168.422 12.408 370.214 39119 270 25D 679 583 538.636 51,527 70 250 ARn412 499,280 25 872 109 574 Charitable activities Activity lees Investment income Deposit account Interest 465.056 465.056 324.282 8.343 2.C69 10,412 4,375 Other tradlng activities Shop sales 5.712 5,712 4,052 Other Inme 846 Total Income 1,342.439 10,529 CHARITABLE ACTIVITIES 2023 2022 Direct costs Staff costs Inole 61 Depreciation Activity centre c051S 314 034 138417 268.753 46.063 276 604 591,420 783.544 Support costs Inole 51 20 429 &] 1.849 SUPPORT COSTS 2023 2022 Advertising and promotion Bank charges Website and IT subscriptions 2.710 2.048 7,077 2,591 8.284 12.552 Governance costs Auditor's lees" audit Auditor's lees. other services Independent examination fee Legal and professional fees 7,200 8,4( 4.478 2.400 999 Page 15
CHRISTIAN YOUTH ENTERPRISES SAILING CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (continued) EMPLOYEES 2023 2022 Salaries Social Se¢ufily costs Pension costs 284,029 18,243 247,904 16.063 4786 2.68,753 The average number of employees during the yeaf was". 2023 Alo 2022 No 13 There were no employees whose annual rernuneralion was more than £60,000 The employee benefits ol the key management personnel tolalled £51,59512022. £46,521>. TRUSTEES None ol the trustees lor any persons connected with Iheml received any remuneration during the year. No Iruslees were reimbursed Iravelling expenses12022. 1 trustee. £5411. During 2023, the charity made payments lor consultancy services lolalling £4,949 12022. £4,88511o Doney Consulting Limited, a ¢ompany ownett by one of the charity's trustees. Mr N Doney These payments are permitted by the Memorandum & Articles ol Association None of the Iruslees received any payments or remuneration for their work as trustees 8a TANGIBLE FIXED ASSETS. Group Leasehold land Leosehold Plant & Flxtures & & buildings improvements equipment littings Motor vehi¢le$ Total Cost Al 1 January 2023 Additions Disposals Al 31 December 2023 176,153 686.447 1.478.918 1,154.779 302,186 29,685 1 38201 328 051 4,695 2.324,260 1.508,603 176 153 L5 115477 4695 829 043 Depreciation At 1 January 2023 Charge lor the year Disposals At 31 December 2023 84.553 3.523 431.651 23.096 216,668 20,987 1 16871 235 968 3,210 371 736.082 138.417 1 16871 872 812 90.440 454 747 Net book value At 31 December 2023 At 31 December 2022 -6B6.4_41 123 a&&18 Page 16
CHRISTIAN YOUTH ENTERPRISES SAILING CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (continued) 8b TANGIBLE FIXED ASSETS- Charity Leasehold land Leasehold Plant & Fixtures & & building$ improvem•nts equipmènt fittings Motor vehicles Total Cost Al 1 January 2023 Additions Oisposals At 31 December 2023 176,153 721.805 1,490,090 1,154.779 257.519 29,685 4,695 2,314,951 1,519,775 176 163 2211 895 1 154 779 284 861 A.3? 1A3 Depreciation Al 1 January 2023 Charge lor the year Dispos815 Al 31 December 2023 84.553 3,523 431.651 23.096 185.977 18.221 3.210 371 705,391 137,468 92.255 5 454 747 03 492 Ll 842 151 Not book valu• Al 31 Oecember 2023 llQQJ3_2 Al 31 December 2022 -91.&QQ J_IL& J23.12£ 7_1,542 ._1.485 J,609,560 FIXED ASSET INVESTMENTS Company Christian Youth Enterprises Sailin9 Centre owns the whole ol the issued share eapilal ol Sussex Enterprise Marine Ltd (Company number 066254121 registered In England and Wales. with a registered address of Jubilee Building, Chidham, Chichesier. West Sussex, P018 8TE The principal activily ol the company Is that ol repairs and maintenance of ships and boats. and overseeing the conslruclion of buildings lor Christian Youth Enterprises Sailing Centre 2023 2022 £1 ordinary share• Sussex Enterprise Marine Ltd.. Al 31 December 2023 a summary ol the financial information of the subsidiary 15 as 1051ows Sussex Enterprise Marine Lld Assets 48 329 60 1751 Nel Iliabilitiesllassets Turnover Expendilure Profit 1.533.743 11 530 4221 11 Page 17
CHRISTIAN YOUTH ENTERPRISES SAILING CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Icontinuedl 10 DEBTORS Gmup Charlty 2023 2022 2023 2022 Trade debtors Amounts owed by subsidiary Other debtors Prepaymenis 90,897 77,190 90.897 15.164 76.230 6725 75.014 62.120 10,380 81 348 86,893 58,112 81 348 116.650 11 CREDITORS Amounts falling due within one year Group Charity 2023 2022 2023 2022 Trade creditors Accruals and deferred Income Soci81 security and other taxe5 Other ¢re¢ilors 5.444 292.971 5.288 42.569 197 621 4568 3,765 249 639 5.288 6.572 202.421 4,568 IIQJ 8Q 2J4 810 CREDITORS: Amounts falling due after one year Group Charity 2023 2022 2023 2022 Other loans duè in more than one year RESTRICTEO FUNDS- Group and Charbty Balance b/ff at 01.01.2023 Incom• Exp•ndltur• Tr•nsfors Balance CM at 31. 12.2023 Re8trlcted Other reslri¢led lunds Superslruclure Fund Delta Project Fund Bursary Fund 14,300 9,771 534.758 55 312 11.542 7,0001 18.842 9.771 658.710 120,000111,173,4681 1 18 1921 IX921 (L> 49 366 Balance t•¢ 01.01.2022 Income Expenditure Transfers Balance ¢M ot 31.12.2022 Restricted Other restricted funds Super51ruclure Fund Delta Projecl Fund Bursary Fund 2.100 9.771 1.059.179 12.200 14,300 9,771 534,758 55 312 295.093 { 2.4031 1817.1111 14 7141 IJLllZl l.&ILLIII 107JJL1 Restricted Superstru¢tur• Fund The purpose ol this fund is to finance the upgrading ol parts of the exterior of TS Resolute. improving the long term weatherproofed overall and hence Ihe longevity ol the asset Reslricled Fleet Fund The strategy lor renewal ol the CYESC fleet is to move to (Joing this on a cyclical basis. a few rtems each year Page 18
CHRISTIAN YOUTH ENTERPRISES SAILING CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (continued} RESTRICTED FUNDS- Group and Company Icontlnuedl Restricted Delta Projèct Fund The purpose ol ihis fund Is lo finance the re(levelopment of the sailing centre premises. Restricted Bursary Fund The 8ursary Fund was established to enable young people from all financial backgrounds lo benefit from the unique irresistible experiences thal CYESC has to offer Bursaries of up to 50% 01 the c0510l courses are offered to any young person, subject lo receipt of a stalement ol financial hardship. often from a Head teacher or pastor. and opproval by CYE. Transfors between funds Transfers from reslricled to unrestricted funds represent capital expendilure irncurred from restrcted funds The Iranslers have been made on the basis that the conditions of the restricted fund donations are mel once the specified assets are acquired. so allowing the charity lo use the assets acquired on an unreslricted basis lor any charitable purpose. 14a UNRESTRICTED FUNDS- Group 8•lanee bll at 01.01.2023 Income Expendiluro Transfors 8al8n¢• clf at 31.12.2023 Unrestricted General 1.166.174 659,941 1756 2851 1.180,468 2,250,298 0oslgnat8d T S Resolute 8081. Furniture & Equipment 727 S20 24 8761 702 644 Total UnSIrle4 funds 1,893.69A fi&9.941 17.0.1.1fi11 L380.468 2,952.942 8•lart¢e b/f at 01.01.2022 Income Expènditure Transfers Bolance clf at 31.12.2022 Unrestricted General 327.050 5gS,501 { 573,4881 817,111 1.166.174 Dgsignated T S Resolute Boal, Fumilure & Equipment 23 8791 727 520 Total unrestficled funds Page 19
CHRISTIAN YOUTH ENTERPRISES SAILING CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (conlinuedl 14b UNRESTRICTED FUNDS- Charity Balance b/f at 01.01.2023 Income Expenditure Transfers Balan¢• clf at 31.12.2023 Unrestricted General 1.216.700 659.939 1750,2461 1,180,468 2,30S,861 Designated T q Rp.8nliJte Boat. Furniture & Equipment... 727 520 24 702 644 Total unreslricled funds S.Q5 8alan¢e b/f •t 01.01.2022 Incomo Expenditure Transfers 8•lJn¢¢ clf at 31.12.2022 Unrestricted General 376,779 596.115 1573,3051 817,111 1.216,700 Designated T S Resolute Boat. FurnitUTe & Equipment 727 520 Total unreslricled funds 1.128 17_ 159 1941 &17,111 1,944,220 158 ANALYSIS OF NET ASSETS BETWEEN FUNDS- Group Restricted Funds Unrnstricted Funds Total 2023 R¢stri¢ted Unrestricted Funds Funds Total 2022 Fixed assets Nel current assets Non eurrenl liabilities 2.956.231 124.211 127 500 2,956.231 202.190 1 127 51)01 1,588,178 1.588,178 305,516 919,657 77.979 614,141 Totals 1 a23 6.24 7 &15 15b ANALYSIS OF NET ASSETS BETWEEN FUNDS- Charity Restri¢t•d Funds Unrestri¢ted Funds Total 2023 Re5tri¢t¢d Unrestricted Funds Funds Total 2022 Fixed asseis Net cuirent assets Non CLJrrenl liabilities 2 990 033 146,972 1127 5001 2.990 033 224,9S1 127 5001 1,609.561 1.609,561 334.659 948.800 77,979 614,141 Totals 3AOg.505 Page 20
CHRISTSAN YOUTH ENTERPRISES SAILING CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (continued) 16 FINANCIAL COMMITMENTS The group has financial commitments In respect of non<ancellable operating leases as follows: 2023 2022 thin one year Between two and five yeafs Morè than five years 10,705 30.741 192 345 10,705 32,498 201 293 244,496 17 PENSION COMMITMENTS AND OTHER POST-RETIREMENT BENEFITS D¥fIn contribution $ch•me The group operates a defined conlribulion pension scheme The assets of the Scheme are held separately from those ol the group In an Independently-adminislered fund The pension wst and charge represents contributions payable by the group lo the lund and amounted lo £11.76212022 £4.7861. No contributions were oulstanoing al the balance sheet date. 18 CAPITAL COMMITMENTS Al 31 December 2023 the charity had no capiial commilments12022 £1,277.4431 in rèspect ol the construction ol a new building. 19 POST BALANCE SHEET EVENT During the night o181W April 2024. the site w85 ftooded (Jue to unu5ualty high $PTing tides. lower than usual alm05pheric pressure and a wind direction that maintained a high tmle within the harbour lor an extended period This caused the sea wall lo be breached for the first time In CYE'S 39 year history There wa5 damaga to both the Jubilee Building and Thwaites House. The extend of the dama9e Is still lo be cosied, however permanent damage lo some Internal walls and doors ¢ompfomised by salt water and sewage means tttey will require replacement M05t expenses are expecied lo be recovered via Insuran¢e To dale over £24,000 has been donated lor flood support which will more than cover the anticipated Insurance excesses and the few Items excluded Irorn cover Page21