2021-03-31-accounts - Falmouth And Penryn Unit Of The Sea Cadet Corps

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Falmouth and Penryn Unit of The Sea Cadet Corps

An unincorporated charity.

Charity No. 300538

Trustees' Report and Unaudited Accounts

31 March 2021

Cornwall Community Accountancy Service The Elms, 61 Green Lane Redruth Cornwall TR15 1LS

Falmouth and Penryn Unit of The Sea Cadet Corps CONTENTS

	Pages
Trustees' Annual Report	2 to 4
Independent Examiner's Report		5
Statement of Receipts and Payments	6 to 7
Balance Sheet		8
Notes to the Accounts	9 to	11

Page 1

Falmouth and Penryn Unit of The Sea Cadet Corps TRUSTEES ANNUAL REPORT

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 300538

Registered Office

Lyndale Cottage Guest House Meneage Road Helston Cornwall TR13 8JA

Trustees

The following Trustees served during the year:

C Manser D Lawson (formerly Harrison) (Resigned 21 May 2020) I Munday J Brook K Callaghan (Resigned 10 November 2020) M Bennett (Resigned 21 May 2020) M Nixon R McSorley S Payne

Accountants

Cornwall Community Accountancy Service The Elms, 61 Green Lane Redruth Cornwall TR15 1LS

Page 2

Falmouth and Penryn Unit of The Sea Cadet Corps TRUSTEES ANNUAL REPORT

The Trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2021.

OBJECTIVES AND ACTIVITIES

To give young people the best possible head start in life through nautical adventure and fun, based on the customs, ethos and values of the Royal Navy. We are passionate about investing in all young people. We offer a unique mix of activities and experiences, delivered locally, regionally, nationally and offshore, which improve life chances at school, in work and for the community. Our trained and experienced volunteers and staff support and deliver learning through maritime adventure and challenge. Through this we create a sense of belonging and identity where young people flourish, gaining confidence, skills for life, values and nationally recognised qualifications, which help them seize a better future.

ACHIEVEMENTS AND PERFORMANCE

The year was dominated by the COVID-19 pandemic. We closed the Unit just before the reporting period began, on 23 March 2020, reopening briefly during July, August and December. As a result of the lockdowns, we have lost a number of Cadets to other activities or on reaching the age of 18. However, we grew the waiting list during the closure, in particular gaining Junior Cadets keen to join. Sadly, we also lost some of the newly recruited Staff, mainly due to postings out of the county. At the end of the period the Unit remained closed, and the proposed Junior Section at RNAS Culdrose continued to be on hold.

A small amount of virtual and online training was possible despite the challenges of Covid. It exposed us to the need for more laptops, to allow those children without access to this technology to stay involved. At the end of the period, we staged a fundraising campaign using Aviva’s charitable arm, to raise the money required for the purchase of tablets and laptops.

Despite the closure, we were able to get some much-needed work done inside and outside the building. Thanks to contractors who were content to keep working solo, the sea wall was repaired, the toilets and showers were refurbished, and the electrics throughout the building were upgraded and made safe. The 17-seater minibus was exchanged for a 12-seater vehicle, mandated by the kerb weight restrictions on most of the Staff’s driving licenses.

FINANCIAL REVIEW

The reserves are held for the purpose of carrying out the charity's objective. The majority of the reserves are invested in a high interest reserve account. The trustees consider a minimum level of reserves is appropriate.

PLANS FOR FUTURE PERIODS

The charity will open up again when it is safe to do so, under the directives published by Sea Cadet Headquarters. A direct result of the pandemic was the need to set up a robust virtual training capability; the purchase of the required technology will give us a good deal more flexibility. The coming reporting period will see a consolidation of the Unit’s boating assets, a repaint of the outside of the building and a modest refurbishment of the kitchen.

Page 3

Falmouth and Penryn Unit of The Sea Cadet Corps TRUSTEES ANNUAL REPORT

STRUCTURE, GOVERNANCE AND MANAGEMENT

Recruitment and appointment of new trustees

The trustees are elected by the members of the charity at its Annual General Meeting. All trustees must stand for re-election each year. New trustees are provided with appropriate training and inducted into the working of the charity.

Organisational structure

TS Robert Hichens, Falmouth & Penryn Sea Cadet Unit (the "Unit"), is a member of the Marine Society and Sea Cadet Association (the "Association"), under whose constitution it operates. The Association is a registered charity in England and Wales, registration number 313013. The Unit is a registered charity in England and Wales, registration number 300538.

The Unit is administered by the Unit Management Team (the “UMT”) and there shall be no less than 3 members. The UMT meets bi-monthly; the meetings require one quarter of members to be present in order for there to be a quorum. All decisions are taken on a majority vote, with the Chairman having the casting vote.

The UMT has no day-to-day involvement in the running of the Unit.

In the event that the Unit operates outside the Association's rules, the District Executive on behalf of the Association has the right to assist with the running of the Unit.

Principle powers of the trustees

In furtherance of the objects, but not otherwise, the UMT may exercise the following powers when working towards the charity's objectives:

To borrow and raise money;
To invest money not immediately required by the charity;
To purchase, alter, improve and dispose of the charity's assets;
To administer and manage the charity;
To undertake a trade or business.

TRUSTEES RESPONSIBILITIES

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the board

M Nixon Trustee 19 October 2021

Page 4

Falmouth and Penryn Unit of The Sea Cadet Corps INDEPENDENT EXAMINERS REPORT

Independent Examiner's Report to the trustees of Falmouth and Penryn Unit of The Sea Cadet Corps

I report to the charity trustees on my examination of the accounts of Falmouth and Penryn Unit of The Sea Cadet Corps for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act.

Having satisfied myself that the accounts of the charity are not required to be audited under the 2011 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:

accounting records were not kept in accordance with the 2011 Act ; or
the accounts do not accord with those records; or
the accounts do not comply with the accounting requirements under the 2011 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.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Debbie Risborough Association of Chartered Certified Accountants Cornwall Community Accountancy Service The Elms, 61 Green Lane Redruth Cornwall TR15 1LS 19 October 2021

Page 5

Falmouth and Penryn Unit of The Sea Cadet Corps STATEMENT OF RECEIPTS AND PAYMENTS

for the year ended 31 March 2021

Unrestricted funds 2021 £ 6,505 33,680 1,994 42,179 ‐ ‐ 200 19,598 ‐ 20 2,434 ‐ 18 ‐ 68 795 23,133 16 16 13,300 13,300 78,628	Restricted funds 2021 £ 5,864 ‐ ‐ 5,864 ‐ ‐ 17,200 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 17,200 ‐ ‐ ‐ ‐ 23,064	Total funds 2021 £ 12,369 33,680 1,994 48,043 ‐ ‐ 17,400 19,598 ‐ 20 2,434 ‐ 18 ‐ 68 795 40,333 16 16 13,300 13,300 101,692	Total funds 2020 £ 14,944 ‐ 1,882
			16,826
			4,000 1,000 6,500 250 1,000 2,158 4,735 203 1,231 225 653 997
			22,952
			56
			56
			1,050
			1,050
			40,884
1,132 ‐ 0 151 144 1,427	‐ ‐ 13 ‐ ‐ 13	1,132 ‐ 13 151 144 1,440	765 10 67 1,107 361
			2,310

Page 6

Falmouth and Penryn Unit of The Sea Cadet Corps STATEMENT OF RECEIPTS AND PAYMENTS

Support costs

Rent & rates Light, heat and power Insurance Repairs & renewals Telephone Printing, postage and stationary sundry expenses Motor vehicles	487 ‐ 487 635 1,554 ‐ 1,554 2,050 1,745 ‐ 1,745 1,639 7,755 3,069 10,824 1,423 507 ‐ 507 567 80 ‐ 80 316 49 ‐ 49 200 4,992 ‐ 4,992 1,717
Legal and professional fees Sub total of support costs Governance costs Cost of trustee meetings Independent examination of the charity’s accounts Sub total of governance costs Total of expenditure on charitable activities Capital expenditure Motor vehicle Heads and Showers Total capital expenditure Total expenditure Net cash movements	380 380 151
	17,549 3,069 20,618 8,698
	26 ‐ 26 452 840 ‐ 840 840
	866 ‐ 866 1,292
	19,842 3,082 22,924 12,300
	‐ 13,500 13,500 9,000 ‐ 25,602 25,602 ‐
	‐ 39,102 39,102 9,000

	19,842 42,184 62,026 21,300

	58,786 (19,120) 39,666 19,584

Page 7

Falmouth and Penryn Unit of The Sea Cadet Corps STATEMENT OF ASSETS AND LIABILITIES At 31 March 2021

Fixed assets Notes 2021 £ Tangible assets 3 131,626 131,626 Current assets Debtors 4 1,787 Cash at bank and in hand 72,750 74,537 Creditors:Amount falling due within one year 5 (595) Net current assets 73,942 Total assets less current liabilities 205,568 Net assets excluding pension asset or liability 205,568 Total net assets 205,568 The funds of the charity Restricted funds Restricted income funds 6 101,270 101,270 Unrestricted funds General funds 6 98,298 Designated funds 6,000 104,298 Total funds 205,568	2020 £ 107,546
	107,546 1,532 33,084
	34,616 (766)
	33,850 141,396
	141,396
	141,396
	74,162
	74,162 59,864 7,370
	67,234
	141,396

Approved by the board on 19 October 2021

And signed on its behalf by:

M Nixon S Payne Trustee Trustee 19 October 2021

Page 8

Falmouth and Penryn Unit of The Sea Cadet Corps NOTES TO THE ACCOUNTS

for the year ended 31 March 2021

1 Accounting policies

Basis of preparation

The financial statements are prepared on a receipts and payments basis as is permitted for charities with income below £250,000 by the Charity Commision. This basis for preparing the accounts is not designed to show a true and fair view of the charity's financial activity and position.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. These are unrestricted funds earmarked by the trustees for particular Designated funds purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.

Restricted funds These are available for use subject to restrictions imposed by the donoror through terms of an appeal.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Leasehold property over the remaining life of the lease. Boats 10% straight line Motor vehicles 10% straight line Equipment 10% straight line

Trustee remuneration and

2 expenses

The nature of the reimbursed expenses

Trustees received no remuneration or payment of expenses in the current or prior year.

Page 9

Tangible fixed 3 assets

Falmouth and Penryn Unit of The Sea Cadet Corps NOTES TO THE ACCOUNTS

Tangible fixed 3 assets	NOTES	TO THE ACC	UNTS
	Land and	Bt	Motor
Cost or revaluation At 1 April 2020 Additions Disposals At 31 March 2021 Depreciation and impairment At 1 April 2020 Depreciation charge for the year Disposals At 31 March 2021 Net book values At 31 March 2021 At 31 March 2020 4 Debtors Gift Aid	buildings £ 134,882 25,602 - 160,484 45,312 2,728 - ~~48,040~~	oas £ 40,857 - - 40,857	Equipment vehicles £ £ 25,200 24,278 13,500 - (25,200) - 13,500 24,278 16,200 21,081 1,350 758 (16,200) - ~~1,350~~ ~~21,839~~ 12,150 2,439 9,000 3,197 2021 £ 1,787 1,787	Total £ 225,217 39,102 (25,200)
				239,119 117,670 6,023 (16,200)
		35,077 1,187 -
		~~36,264~~		107,493
	112,444	4,593		131,626
	89,570	5,780		107,547
				2020 £ 1,532
				1,532
5 Creditors: amounts falling due within one year Independent examination			2021 £ 595 595	2020 £ 766 766

Page 10

Falmouth and Penryn Unit of The Sea Cadet Corps NOTES TO THE ACCOUNTS

6 Movement in funds

Incoming resources (including other gains/losses) £ - 560 - - 590 - 15,000 2,200 - 4,714 -	Resources expended £ - (13,500) - - - - (25,602) (3,069) (13) - -	At 31 March 2021 £ 51,249 12,150 1,865 500 2,543 130 25,602 0 1,920 4,714 597
23,064	(42,184)	101,270
78,628 - -	(19,842) - -	98,298 6,000 -
-	-	6,000

~~101,692~~	~~(62,026)~~	~~205,568~~

Page 11