## **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**
|deposits
**Receipts from:**
Donations and legacies:
Donations
Bequests
Gift aid
Charitable activities:
**Grants**
Trinity House
F&P Grants Foundation
MSSC
Cornwall Council
Penryn T C
**Primary Purpose Trading**
Fundraising
Subscriptions
Facilities
Uniform
Victuals income
Travel and training
Feed in Tariff
Investments:
Interest receivable on bank
Capital Receipts:
Proceeds from sale of assets
**Total receipts**
**Expenditure on:**
Charitable activities
Boating expenses
Fundraising costs
Junior satellite
Training and travel costs
Uniform care|**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**
|**Restricted funds:**
**Restricted income**
**funds:**
Building repairs and
improvements
Minibus
Trinity 500 rowing
boat
Gallery
refurbishment
Bursaries
Engineering room
Heads and showers
Sea wall repairs
Junior satellite unit
Aviva project
Other
_Total_
**Unrestricted funds:**
**General funds**
**Designated funds:**
Repairing lease
Non cash items
_Total_
**Revaluation**
**Reserves:**
**Total funds**|**At 1 April**
**2020**
57,568
1,500
2,793
500
1,863
130
4,550
2,200
1,933
-
1,125
74,162
59,864
6,000
1,370
7,370
141,396|**Incoming**
**resources**
**(including**
**other**
**gains/losses)**
**£**
-
560
-
-
590
-
15,000
2,200
-
4,714
-|**Resources**
**expended**
**£**
-
(13,500)
-
-
-
-
(25,602)
(3,069)
(13)
-
-|
**Fund**
**transfers**
**and non**
**cash**
**movements**
**£**
(6,319)
23,590
(928)
-
90
-
31,654
(1,331)
(528)
46,756
(20,352)
-
(1,370)
(1,370)
~~25,034~~|**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