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 sa￿linq 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 c￿liVe 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 lo￿3rd 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 Cur￿n1 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. re￿I￿nce 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 cur￿n1 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 apPO￿nIment. 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 P￿pare 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 $iaiements of Chnstian Youlh Enterprise5 Sailir%J Centre (the 'pa￿rti ts)mpany'l and rts subS￿liary I'lhe 9roup'l lor the year ended 31 DeGeFnber 2023 which comprise the consdidaied Slalemeni of Financial Aclivrt*$. lfve consolidated and parent Balan Sheeis. Ihe consolidated Cash Flow siaieff*nt 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$. In¢luding FRS 102 The Financial Reporting siandard applicab￿ In the UK and Republ£ of Ireland Iuniled Kingdom Genefally Accepted Accounting Fra￿1￿1. In our opinion. the financsal Ststemenis give a true and fair ol the st8te of the group5 aTrJ of Ihe pwertt company'$ affairs a$ at 31 Decernber 2023 and of the group's Surplus lor the year then ended. have been properly p￿p8red In accordance wrth United Kingdom Generally A¢wted AC￿ntIng Pract￿." have been prepared In a¢¢ordan¢e ￿1h the requireFrEn15 01 the Companie5 Act 2CQ6 Bas18 lor oplnlon We conducted our audit In a￿ordanCe with IntematK*nal stsnda￿s 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 $eciion ol our ￿port. We are Independent of ltte group In accordance with Ihe elhi¢al wul￿nIents thai are felevant lo our audit of the financi81 statemen15 In the UK Including Ihe FRC'S Eihical Standard. 8nd have tulfiiied our Olherethi¢al responsibilitie8 In accordance wilh these ￿qUIreMen18 We believe that the 8udil evi¢ence have obtained Is sulfiuenl and apyC9na￿ io pro¥th o basis for ourepinion Con¢lu$lon8 relatlng to golng cor¢c8m In auditin9 the Iinan¢ial sialemenis. we ha¥e conclu¢Jed Ihat ¢h¥rfy's useolihe g￿n9 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 unL*rtainiie$ 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 $¢¢tions of th18 report Other inlomiaiion The oiner Inlormaiion compnses the Infornabon induded In tr* annuol r￿r￿. olher th8n the finan081 st4iem?nls 8nd our audito¢¥ report lhe￿on The directors are responsible for the other Inlormaiion u)niained %wlhin the annual ￿pOrt Our opinion on the financial 51Jiemeni$ oe$ not Cover Ine Qlher Informaiion an¢. except lo the exlenl Oll*rwse 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 s￿leMen1$ 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 missiait￿nts. 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 Inlomat￿n. 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 financ￿1 $toler*nls ure p￿pa￿d 1$ consistent wil the financial $18tementS. and the ￿1￿Clor9, 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 underS￿ndIng 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¢ ¢ompan*s Act 20C6 Nui￿8 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 ag￿ement wrth the accounting rt￿r￿S and retums, Of certain d15c105ures of aireciors. rernuneration specified by law are nol tnade. or we have nol reoiyed all the Inlofmatiw and expLqnaI￿nS 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 sl*ernÈni. the diredor5 are responsible for the prepara1￿n 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 ￿e￿5$￿Th 10 enable the P￿parat￿n ol financial statements that are free frorn rn*enal 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 a￿ayS detect a malerial missiaiemeni when It exists M1$$1818menls can onse lrnud or effor and are consi¢Jered Ma￿1181 Il. Indiv￿ually or In the aggregate. they could reasonably be expe￿ed lo Influence the e¢onomK decision5 of u$¢rs taken on the b•si$ olibe8e finants¥l siaten*nts The exlenl 10 which our prO￿d￿re$ are capab* olde¢e￿ing 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 *gislat￿n ¥nd conside￿￿ the extent lo ¥¥thich non. 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 restr￿cted 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 Un￿SIr￿le4 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