| Pages | |
|---|---|
| Trustees' Annual Report | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Accounts | 7 to 13 |
| Detailed Statement of Financial Activities | 14 to 15 |
| for the year ended 30 April 20 | 25 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Totalfunds | ||
| 2025 | 2025 | 2024 | ||
| Notes | ||||
| Income and endowments | ||||
| from: | ||||
| Donations and legacies | 3 | 7,031 | 7,031 | 1,930 |
| Other trading activities | 4 | 13,558 | 13,558 | 15,997 |
| Investments | 5 | 15,337 | 15,337 | 15,902 |
| Total | 35,926 | 35,926 | 33,829 | |
| Expenditure on: | ||||
| Other | 6 | 26,086 | 26,086 | 29,374 |
| Total | 26,086 | 26,086 | 29,374 | |
| Net gains on investments | 1,527 | 1,527 | 1,458 | |
| Net income | 7 | 11,367 | 11,367 | 5,913 |
| Transfers betweenfunds | ||||
| Net income before other | 11,367 | 11,367 | 5,913 | |
| gains/(losses) | ||||
| Other gains and losses | ||||
| Net movement in funds | 11,367 | 11,367 | 5,913 | |
| Reconciliation of funds: | ||||
| Total funds brought forward | 667,685 | 667,685 | 661,772 | |
| Totalfunds carried forward | 679,052 | 679,052 | 667,685 |
| Charity No. 301440 | 2025 | 2024 | |
| E | |||
| Fixed assets | |||
| Tangible assets | 9 | 467,292 | 467,649 |
| Investments | 10 | 139,885 | 138,358 |
| 607,177 | 606,007 | ||
| Current assets | |||
| Stocks | 11 | 300 | 300 |
| Debtors | 12 | 4,534 | 4,365 |
| Cash at bank and in hand | 67,411 | 57,918 | |
| 72,245 | 62,583 | ||
| Creditors: Amountfalling due within one year | 13 | (370) | (905) |
| Net current assets | 71,875 | 61,678 | |
| Total assets less current liabilities | 679,052 | 667,685 | |
| Net assets excluding pension asset or liability | 679,052 | 667,685 | |
| Total net assets | 679,052 | 667,685 | |
| The funds of the charity | |||
| Restricted funds | 14 | ||
| Unrestricted funds | 14 | ||
| General funds | 660,995 | 651,155 | |
| 660,995 | 651,155 | ||
| Reserves | |||
| Revaluation reserve | 18,057 | 16,530 | |
| 18,057 | 16,530 | ||
| Total funds | 679,052 | 667,685 |
| Fund accounting | |
|---|---|
| Unrestricted funds | These are available for use at the discretion of the trustees in furtherance of the |
| general objects of the charity. | |
| Designated funds | These are unrestricted funds earmarked by the trusteesfor particular 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 donor orthrough |
| terms of an appeal. | |
| Income | |
| Recognition of | Income is included in the Statement of Financial Activities (SOFA) when the charity |
| income | becomes entitled to, and virtually certain to receive, the income and the amount of |
| the income can be measured with sufficient reliability. | |
| Income with related | Where income has related expenditure the income and related expenditure is |
| expenditure | reported gross in the SoFA. |
| Donations and | Voluntary income received by way of grants, donations and gifts is included in the |
| legacies | the SOFAwhen receivable and only whenthe Charity has unconditional entitlement |
| to the income. | |
| Tax reclaims on | Income from tax reclaims is included in the SOFA at the same time as the |
| donations and gifts | gift/donation to which it relates. |
| Donated services | These are only included in income (with an equivalent amount in expenditure) |
| and facilities | where the benefit to the Charity is reasonably quantifiable, measurable and |
| material. | |
| Volunteer help | The value of any volunteer help received is not included in the accounts. |
| Investmentincome | This is included in the accounts when receivable. |
| Gains/(losses) on | This includes any gain or loss resultingfrom revaluing investments to market value |
| revaluation offixed | at the end of the year. |
| assets | |
| Gains/(losses) on | This includes any gain or loss on the sale of investments. |
| investment assets |
| Expenditure | |
|---|---|
| Recognition of | Expenditure is recognised on an accruals basis. Expenditure includes any VATwhich |
| expenditure | cannot be fully recovered, and is reported as part ofthe expenditure to which it |
| relates. | |
| Expenditure on | These comprise the costs associated with attracting voluntary income, fundraising |
| raising funds | trading costs and investment management costs. |
| Expenditure on | These comprise the costs incurred by the Charity in the delivery of its activities and |
| charitable activities | services in the furtherance of its objects, including the making of grants and |
| governance costs. | |
| Grants payable | All grant expenditure is accounted for on an actual paid basis plus an accrual for |
| grants that have been approved by the trustees at the end of the year but not yet | |
| paid. | |
| Governance costs | These includethose costs associated with meeting the constitutional and statutory |
| requirements of the Charity, including any audit/independent examination fees, | |
| costs linked to the strategicmanagementof the Charity, together with a share of | |
| other administration costs. | |
| Other expenditure | These are supportcosts not allocated to a particular activity. |
| 2 | Statement of Financial Activities - prior year |
|||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | |||
| 2024 | 2024 | |||
| Income and endowmentsfrom: | ||||
| Donations and legacies | 1,930 | 1,930 | ||
| Other trading activities | 15,997 | 15,997 | ||
| Investments | 15,902 | 15,902 | ||
| Total | 33,829 | 33,829 | ||
| Expenditure on: | ||||
| Other | 29,374 | 29,374 | ||
| Total | 29,374 | 29,374 | ||
| Net | gains on investments | 1,458 | 1,458 | |
| Net | income | 5,913 | 5,913 | |
| Net | income before other | |||
| gains/(losses) | 5,913 | 5,913 | ||
| Othergains and losses: | ||||
| Net | movement in funds | 5,913 | 5,913 | |
| Reconciliation of funds: | ||||
| Total funds brought forward | 661,772 | 661,772 | ||
| Total funds carried forward | 667,685 | 667,685 | ||
| 3 | Income from donations and legacies | |||
| Unrestricted | Total | Total | ||
| 2025 | 2024 | |||
| E | ||||
| Gifts and donations | 7,031 | 7,031 | 1,930 | |
| 7,031 | 7,031 | 1,930 | ||
| 4 | Income from other trading activities | |||
| Unrestricted | Total | Total | ||
| 2025 | 2024 | |||
| Course fees | 9,030 | 9,030 | 11,544 | |
| Room hire | 3,444 | 3,444 | 3,468 | |
| Moorings | 795 | 795 | 795 | |
| Sundry income | 289 | 289 | 190 | |
| 13,558 | 13,558 | 15,997 |
| 5 | Income from investments | |||
|---|---|---|---|---|
| Unrestricted | Total | Total | ||
| 2025 | 2024 | |||
| E | ||||
| Fixed assetinvestment | 2,594 | 2,594 | 4,901 | |
| income | ||||
| Deposit account interest | 2,063 | 2,063 | 321 | |
| Rents received | 10,680 | 10,680 | 10,680 | |
| 15,337 | 15,337 | 15,902 | ||
| 6 | Other expenditure | |||
| Unrestricted | Total | Total | ||
| 2025 | 2024 | |||
| Instructors' fees | 3,075 | 3,075 | 3,742 | |
| RYA and other materials | 1,147 | 1,147 | 5,663 | |
| Advertising and website | 465 | 570 | ||
| Employee costs | 2,489 | 2,489 | 2,493 | |
| Premises costs | 6,490 | 6,490 | 8,839 | |
| Amortisation, depreciation, | ||||
| impairment, profit/loss on | 357 | 357 | ||
| disposal of fixed assets | ||||
| General administrative costs | 11,694 | 11,694 | 7,273 | |
| Legal and professional costs | 369 | 369 | 335 | |
| 26,086 | 26,086 | 29,374 | ||
| 7 | Net income beforetransfers | |||
| 2025 | 2024 | |||
| This is stated after charging: | ||||
| Depreciation ofowned fixed assets | 357 | |||
| Independent Examiner's fee | 369 | 335 | ||
| 8 | Staff costs | |||
| 2025 | 2024 | |||
| Salaries and wages | 2,489 | 2,493 | ||
| 2,489 | 2,493 |
| 9 | Tangible fixed assets | |||
|---|---|---|---|---|
| Land and | Fixtures, | |||
| fittings and | Total | |||
| buildings | ||||
| equipment | ||||
| Cost or revaluation | ||||
| At 1 May 2024 | 465,270 | 8,102 | 473,372 | |
| At 30 April 2025 | 465,270 | 8,102 | 473,372 | |
| Depreciation and | ||||
| impairment | ||||
| At 1 May 2024 | 5,723 | 5,723 | ||
| Depreciation charge for the | 357 | 357 | ||
| year | ||||
| At 30 April 2025 | 6,080 | 6,080 | ||
| Net book values | ||||
| At 30 April 2025 | 465,270 | 2,022 | ||
| At 30 April 2024 | 465,270 | 2,379 | 467,649 | |
| 10 | Investments | |||
| Other | ||||
| investments | ||||
| - Unlisted | Total | |||
| Cost or revaluation | ||||
| At 1 May 2024 | 138,358 | 138,358 | ||
| Revaluation | 1,527 | 1,527 | ||
| At 30 April 2025 | 139,885 | 139,885 | ||
| Net book values | ||||
| At 30 April 2025 | 139,885 | 139,885 | ||
| At 30 April 2024 | 138,358 | 138,358 | ||
| 11 | Stocks | |||
| 2025 | 2024 | |||
| E | ||||
| Raw materials and consumables | 300 | 300 | ||
| 300 | 300 | |||
| Carrying value analysed by activities | 2025 | 2024 | ||
| Course fees | 300 | 300 | ||
| 300 | 300 | |||
| 12 | Debtors | |||
| 2025 | 2024 | |||
| E | ||||
| Other debtors | 500 | 500 | ||
| Prepayments and accrued income | 3,865 | |||
| 4,534 | 4,365 |
| 13 | Creditors: amounts falling due within one year |
||||
|---|---|---|---|---|---|
| 2025 | 2024 | ||||
| Other creditors | 335 | ||||
| Accruals | 370 | 570 | |||
| 370 | 905 | ||||
| 14 | Movement in funds | ||||
| Incoming | |||||
| resources | |||||
| (including | Resources | At 30 April | |||
| other | expended | 2025 | |||
| At 1 May | gains/losses | ||||
| 2024 | |||||
| Restricted funds: | |||||
| Unrestricted funds: | |||||
| Generalfunds | 651,155 | 35,926 | (26,086) | 660,995 | |
| Revaluation Reserves: | |||||
| Revaluation fund | 16,530 | 1,527 | 18,057 | ||
| Totalrevaluation reserves | 16,530 | 1,527 | 18,057 | ||
| Total funds | 667,685 | 37,453 | (26,086) | 679,052 |
| Analysis of net assets between funds | |||
|---|---|---|---|
| Unrestricted | |||
| Total | |||
| funds | |||
| Fixed assets | 467,292 | 467,292 | |
| Investments | 139,885 | 139,885 | |
| Net current assets | 71,875 | 71,875 | |
| 679,052 | 679,052 | ||
| Reconciliation of net debt | |||
| At 1 May | At 30 April | ||
| 2024 | Cash flows | 2025 | |
| Cash and cash equivalents | 57,918 | 9,493 | 67,411 |
| 57,918 | 9,493 | 67,411 | |
| Net debt | 57,918 | 9,493 | 67,411 |
| for the yearended 30 April 2025 | |||
|---|---|---|---|
| Unrestricted | |||
| funds | Total funds | Total funds | |
| 2025 | 2025 | 2024 | |
| Income and endowmentsfrom: | |||
| Donations and legacies | |||
| Gifts and donations | 7,031 | 7,031 | 1,930 |
| 7,031 | 7,031 | 1,930 | |
| Other trading activities | |||
| Course fees | 9,030 | 9,030 | 11,544 |
| Room hire | 3,444 | 3,444 | 3,468 |
| Moorings | 795 | 795 | 795 |
| Sundry income | 289 | 289 | 190 |
| 13,558 | 13,558 | 15,997 | |
| Investments | |||
| Fixed asset investment income | 2,594 | 2,594 | 4,901 |
| Depositaccountinterest | 2,063 | 2,063 | 321 |
| Rents received | 10,680 | 10,680 | 10,680 |
| 15,337 | 15,337 | 15,902 | |
| Total income and endowments | 35,926 | 35,926 | 33,829 |
| Expenditure on: | |||
| Other expenditure | |||
| Instructors' fees | 3,075 | 3,075 | 3,742 |
| RYA and other materials | 1,147 | 1,147 | 5,663 |
| Advertising and website | 465 | 570 | |
| 4,687 | 4,687 | 9,975 | |
| Employee costs | |||
| Salaries/wages | 2,489 | 2,489 | 2,493 |
| 2,489 | 2,489 | 2,493 | |
| Premises costs | |||
| Rates | 1,776 | 1,776 | 1,639 |
| Light, heatand power | 2,518 | 2,518 | 2,638 |
| Premises cleaning | 528 | 528 | 500 |
| Premises repairs and maintenance |
1,447 | 1,447 | 3,847 |
| Other premises costs | 221 | 221 | 215 |
| 6,490 | 6,490 | 8,839 | |
| General administrative costs, | |||
| including depreciation and | |||
| amortisation | |||
| Depreciation of Fixtures, fittings and equipment |
357 | 357 | 459 |
| Equipment repairs and maintenance |
5,017 | 5,017 | 2,304 |
| The Nottage Maritime Institute | |||
|---|---|---|---|
| Detailed Statement of Financial Activities | |||
| General insurances | 4,598 | 4,598 | 3,970 |
| Software, IT supportand related | |||
| costs | 222 | 222 | |
| Stationery and printing | 702 | 702 | 119 |
| Sundry expenses | 331 | 331 | |
| Telephone, fax and broadband | 824 | 824 | 766 |
| 12,051 | 12,051 | 7,732 | |
| Legal and professional costs | |||
| Audit/lndependentexamination | |||
| fees | 369 | 369 | 335 |
| 369 | 369 | 335 | |
| Total ofexpenditure of other costs | 26,086 | 26,086 | 29,374 |
| Total expenditure | 26,086 | 26,086 | 29,374 |
| Net gains on investments | 1,527 | 1,527 | 1,458 |
| Net income | 11,367 | 11,367 | 5,913 |
| Net income before other | |||
| gains/(losses) | 11,367 | 11,367 | 5,913 |
| Other Gains | |||
| Net movement in funds | 11,367 | 11,367 | 5,913 |
| Reconciliation of funds: | |||
| Total funds brought forward | 667,685 | 667,685 | 661,772 |
| Total funds carried forward | 679,052 | 679,052 | 667,685 |