||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|





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|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|





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|||||
|---|---|---|---|
|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|





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|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||





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|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<br>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.|



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|2|Statement of Financial Activities<br>- 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|





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## 

|13|Creditors:<br>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<br>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<br>and equipment|357|357|459|
|Equipment repairs and<br>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|