2025-03-31-accounts - Gosport Unit 437 Of The Sea Cadet Corps

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MINUTES OF THE TS HORNET ANNUAL GENERAL MEETING ON 23 SEPTEMBER 2025 AT BERKELEY HALL Present UMT Gregor Birse Unit Chair Mike Shrives Outgoing Unit President Lt Si Bush SCC Unit Commanding Officer Shelagh Hook UMT Member Alan Ball UMT Member Zoe Huggins UMT Member Bonnie Birse Unit Treasurer Chris Roast UMT Member and Fundraiser Mark Veti UMT Member STAFF, PARENTS & SUPPORTERS Christopher Collins Amy Toyer Georgina Mullhall Lorraine Perrin Paul Cripps Claire Palmer Joe Jacobs Noah Uniacke Aaron Pulford Mark Millington Isla Hadley Scott Dodds Scouse Rycroft Lucy Fulford Tom Parsons Elizabeth Howard Erica Clark

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Neil Cotgreave
Cadet Nancy Matthews
District Staff
Lt Cdr Steve Ditchburn SCC
Apologies for absence Nil
Item Item Discussion and Actions
1 Apologies Apologies were received from the Unit Patron, Admiral Sir Nigel Essenhigh.
2 Opening address by the Good evening Gregor, Si, Management Committee members, Uniformed staff, Ladies and
Unit President Gentlemen
• Welcome to the Annual General Meeting where the reports will show what a
thriving unit TS Hornet is. It is my last AGM as I have been elected as Commodore
Hornet Services Sailing Club so need to hand over some of my voluntary roles. However,
I am delighted to report that Commander Andy Phenna is taking over. He has recently
retired from being the Head of Offshore Training and Offshore Commander of the Marine
Society and Sea Cadets. Andy cannot be with us tonight as he is at sea in the Jack
Petchey as he continues to be a volunteer skipper for the MSSC Fleet.
• I have had the privilege of being the TS Hornet President for 15 years and noted in
our history that Admiral Sir Geoffrey Layton commissioned TS Hornet in 1954 which
incidentally was the same year of my birth. Rear Admiral Tony Whetstone asked me to
take over from him in 2010 and as I retired as a Commander I said ‘Yes Sir’. I later asked
him to be our Patron when Midge Fieldhouse died.
• The unit is once again in the top 10% of the 400 units. Led by Si he wouldn’t make
it as professional golfer where a below par performance is considered good. My abiding
memory of TS Hornet will be witnessing young people develop into fine and responsible
young adults (well most of them anyway). There have challenges and niggles here and
there but nothing the unified team haven’t overcome. From my purview TS Hornet has
been blessed by individuals who are passionate to keep the Unit as one of the best.
When one leaves another of equal passion and dedication comes along. The commitment
of the Uniformed Staff, helpers, and the Unit Management Committee has continuously
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impressed me. My sincere thanks to all for your and their outstanding contribution. You
can all feel justifiably proud of yourselves. Above all the fun element has been retained.
3 Minutes from 2024 AGM Accepted as a true record.
4 Matters arising from 2024 No action arising from AGM 2024.
AGM minutes
5 Chairman’s report Good evening, parents & Carers, Ladies & gentlemen, Sea Cadet staff and fellow UMT
members,
Thank you so much for attending tonight’s AGM and for supporting Gosport Sea Cadets
throughout this year. The objectives of this meeting are primarily two-fold. Firstly, for the
Commanding Officer and Unit Management Team to provide you with an update on the
health status of the unit; secondly, and importantly, for you to hold us to account and pose
questions about how the unit is run, what our plans are for the future and crucially, how we
aim to develop your young people within the Sea Cadet experience.
Like previous years, it is always worth reiterating at the outset why we are all here - for the
young people of Gosport; and our aim in this is succinctly described in the Sea Cadet
Mission:
“Inspiring young people to achieve their potential through challenge and nautical
adventure guided by the customs and traditions of today’s Royal Navy.”
So, through our offer, we aim to provide the cadets with experience, skills, adventure, and
challenges that will provide them with the opportunities to stretch themselves. In doing so,
we aspire to support them in their development towards a broad set of nationally
recognized qualifications, and, during this process, learn important life skills such as
teamwork, communication, determination, leadership, and self-confidence.
Lt Si Bush, our Unit Commanding Officer, and lead for the operational output of the unit,
will talk more broadly about what the cadets have been engaged in throughout this past
year. My report will focus on the enabling functions that support Si and his team, and I will
concentrate on the following areas: our people; our equipment & safety; our sustainability
and our benefactors.
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Our workforce. I continue to be genuinely humbled by the efforts of all the adult volunteers, who step forward and donate their time to the unit and the Cadets; without them we could not function. The team - uniformed staff, adult volunteers and UMT - continue to be generous with their time to ensure that the unit functions; that the cadets have the right training; that they use appropriate and safe equipment; that bills get paid on time and funds get raised; that the colossal amount of necessary administrative support work is completed timely and accurately; that cadets get to courses; and that they are listened to, supported and developed as people.

I’d like to thank them all. The staff who do so much and are there for the cadets up to three times a week; the boats team; the engineers for the sterling work that they have done with our fleet and mentoring they have conducted this year; and Chris Roast, our able fund raising lead and my fellow UMT members that you see present here tonight. Lastly, I’d like to thank Mike Shrives for the service that he has given the unit over his time as president. Mike is stepping down this year to take up a key role as Hornet Services Sailing club. Mike, we wish you well and know that you will remain linked with the unit in your role at Hornet.

Equipment & Safety. We remain a well -equipped unit and have this year invested in the unit as the President has recently outlined. The efforts to continuously improve the facilities and equipment continue, and we are almost at our goal of raising £20,000 towards a RIB and engine, which will keep our fleet’s availability at the levels required to meet the 30 hours of boating we aspire to provide all 65+ cadets.

In terms of safety, we received an annual Assurance check from District Staff. This check involves a thorough examination of our safety certification, control documentation, and procedures; whilst we await the outcome, I remain confident that the unit is on the right side of the safety line. I’d like to thank Si for his immense efforts in his preparation. But of course, this is ongoing, and we will continue to work hard to ensure we meet the appropriate safety standards.

Sustainability. Gosport is a thriving unit, and we are working hard as a collective to keep it that way. Clearly our sustainability is directly related to our people and finances. Over the past year your UMT has looked at the potential to grow the unit. At present, we are

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working at maximum capacity, and any expansion will require significant investment,
particularly in adult volunteers. Correspondingly, your UMT is approaching expansion
cautiously and will not proceed with any significant change to the current operating model
unless we are fully confident that it will be sustainable. In short, we are ‘sticking’ rather
than ‘twisting’ as we assess that this is the best course of action for the unti at this time.
That said, we are always looking for additional adult volunteers and aspire to recruit into
the organization instructors who can assist the unit in broadening the water activities offer
for cadets, particularly paddling and sailing to take advantage of our boating fleet..
Financially, we are on a firm footing and the treasurer will go through the accounts in detail
later in the meeting. Please be aware, that whilst the balance sheet is buoyant, much of
this is grant funding received to purchase the new RHIB and engine. Day to day activities
are met mainly through cadet subs and the UMT will review subscriptions at the end of the
financial year
Benefactors. And I must also thank our many kind benefactors, including Gosport Borough
Council, and particularly Cllrs Burgess, Meehanghan and Philpott, who have donated to
the unit and whose support is hugely appreciated. Other very welcome donations have
again been provided by Jacob’s Buses, the Portsmouth Royal Navy Officers Association,
The Tom Langton fund via Clarence Lodge, the Connaught Trust; the Ulysees trust and
the Gosling foundation.
Lastly, I remain intensely proud of our unit and our cadets. Watching them operating at
events, engaging with each other, chatting to visiting dignitaries, and explaining what they
do to the public over the past year absolutely re-affirms the benefits of Sea Cadets. For
me, personally, it certainly makes volunteering worthwhile. Gosport Sea cadets is working;
it is working for the cadets; and it is working for the community. We aim to keep it on
course, and with your help, I am confident that we can do so.
6 Update from Cadet Nancy Cadet Nancy Matthews provided a very articulate summation of the views of the cadets
Matthews attending the unit. Nancy was thanked for her superb contribution and we all celebrated
her recent selection to be Lord Lieutenant’s Cadet.
7 Commanding Officer’s
report
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8 Treasurer’s report and The treasurer provided a detailed brief which is at Enclosure 1.
adoption of accounts
9 Election of Trustees Gregor Birse, Chairman: proposed Zoe Huggins, seconded Bonnie Birse
Bonnie Birse, Hon Treasurer: proposed Zoe Huggins, seconded Gregor Birse
Alan Ball: proposed Gregor Birse, seconded Bonnie Birse
Mark Veti: proposed Gregor Birse, seconded Bonnie Birse
Shelagh Hook: proposed Gregor Birse, seconded Bonnie Birse
Zoe Huggins: proposed Gregor Birse, seconded Bonnie Birse
Dr Chris Roast: proposed Gregor Birse, seconded Bonnie Birse
10 AOB There was no business raised
Chair : “Thank you all for coming – please keep in touch. It’s a team game, we’re all part of
the unit!!”
11 Questions The floor was opened for questions:
Po Cripps asked if the unit would be willing to replace the mezzanine external door
with a UPVC version.
The answer was essentially ‘yes’ on the assumption that it met the security and weather
roofing requirements of the unit and was, of course, affordable.
.
Mrs Georgina Mullhall asked a question about the award of a burgee, particularly
what were the criteria that it was judged against and suggested that the unit
communicate this success with parent and carers.
The CO provided an update on the burgee methodology. It was accepted by the UMT that
communicating this via routine channels would be beneficial and hence would look to do
so.
Mr Aaron Scott enquired if the unit could invest monies in higher return bank
accounts and/or other financial products.
The UMT agreed that this would be very good thing to do; however, the constraining
regulations of MSSC only allow the unit to have a certain amount of accounts and that
these had to be with CAF, the charities bank.
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Enclosures:

Gosport Sea Cadets Treasurer Report

arity registration number301835 IEngland and Wale51 GOSPORT UNIT 437 OF THE SEA CADET CORPS ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Doc ID.. fa3f34trfjccd4845575637e879147208fa568d6d3

GOSPORT UNIT 437 OF THE SEA CAD CORPS LEGALAND ADMINisfRATIVE INFORMATION Trustees Mrs B BirsÈ MTG 8irse Dr C Roast M5 Z Huggirbs Mrs S Hook Rev A Ball Chaflty reglstratlon England and Wales 301835 Registered offi£e Sea Cadet Hall Weevil Lane G05POrt England P012 IAX Independent examlner James Todd and Co Limited Drayton House Drayton Lane Chirhester West Sussex England P020 2EW Doc ID.. fa3f34trfjccd4845575637e879147208fa568d6d3

GOSPORT UNIT 437 OF THE SEA CAD CORPS CONTENTS Page TrustÈes' report Independent exarniner's report statement ol flnancial activities Balance sheet Notes to the linantial statements 6-12 Doc ID.. fa3f34trfjccd4845575637e879147208fa568d6d3

GOSPORT UNIT 437 OF THE SEA CAD CORPS TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their annual rewrt and financial staiements for the yearended 31 March 2025. The financial ststements hève beÈn prepared in ac£ordancÈ with the a£countin8 policies set out In note I to the flnanclal statements and comply with the £harity'S governing document. the Charities Act 2011, FRS 102 'The Financial Reporting Standard applicèble in the UK ènd Republic of Ireland" and the Charities 50RP 'Accounting and Reporting by Charitles.. Statement of Recommended Prartice applicab to charit$ preparing their accounts In accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021". Oble¢tives and #divities The charitable purpose of the L)nit Ithe Purp05el is to promote the developrnent of youn8 people in achievin8 their physical, Intellectual and Social potential as individuals ond as resp)nsible citizens by the provi510n of education and leisure tirne activities u5in8 a nautical therne and in accordonce with the principles, eth05 and practices of the Marine Society & Sea Cadet5 IMSSCI. The trustees have paid due regard to guanCe Sssued by the Charty Comm155ioTh in deciding what activitle5 the charity should undertake. A¢hlevements perform•n¢• SignificGnt octivitie5 Gnd ochjevements ogoinst objectives Total Income for the year has Sncreased 10 £35,703 from É29.479 the prevlous year. wlth the largest Increase In other trading activltle5 due to in£ased fundraising Income. Charitable expenditure has Increased to £44,076 from É23,380 In the previous year, with the largest increase STh repairs and maintenance with significant repairs to the HQ done in July 2024. Overall, thls has resulted in a deficit lor the year of £8.373 compared to a surplus of É6.099 In the prior year. The Charitle5 funds have reduced to £35,263 from E43,636 in the prewous year, which are made up of lully unrestricted reserves, which can be used to further the Charities Objectives. Flnan¢lal revlew Reserves policy It 15 the policy of the charity that unrestricted funds which ha not been designated for a specific use should be maintalned at a level equivalent to betr4een three and six rnonth's expenditure. The trustees consider that reserves at thi5 level will ensure that, In the event ol a si8nilicant drop in fundin& they will be able to continue the charity's current activities while consideration is 8iven to ways in which additional funds may be raised. Thi5 level ol re5erve5 has been maintained throu8hout the year. Strntture. governance and management The trustees who served during the year and up tothe of Signatu of the financial statements were.. Mr5 8 Bir5e Mr G Birse Dr C Roast M5 Z Hugeins Mrs S Hook Rev A B411 The COMnY.$ current policy concerning the payment of trade crediiofs is follow the CBI'S Prompt Payers Code Icoples are avallèble from the CBI. Centre Point, 103 New Oxford StreeL London WCIA IDUI. The company's current policy concerning the payment of trade creditors is to.. settle the terms of payment with suppliers when a8reeine rhe terms of each transaction., ensure that suppliers are made aware ol the terrns of payment by inclusion ol the relevant terms in contracts.. and pay in accordance with the company's contractual and other legal obligations. Doc ID.. fa3f34trfjccd4845575637e879147208fa568d6d3

GOSPORT UNIT 437 OF THE SEA CAD CORPS TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 The tru5tees' report Was approved by the Board of Trustees. Mr G Birse Dète.. 2710112026 Doc ID.. fa3f34trfjccd4845575637e879147208fa568d6d3

GOSPORT UNIT 437 OF THE SEA CAD CORPS INDEPENOENT EXAMINER'S REPORT TO THE TRUSTEES OF GOSPORT UNIT 437 OF THE SEA CAD CORPS I report to the trustees on my examination of the financial ststements of Gosport Unit 437 of the Sea Cadet Corps Ithe charltyl for the Veèr ended 31 March 2025. Responsibilities and basis of report As thè trustees of the thèrity you art resw)nsiblÈ for iht pparatiOn of the financial statements in atcordancÈ with th requirements of the Charities Att 2011. I report in respert of my exèmination of the charity's financial statements carried ot under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Oirections gwen by the Charity Commission under section 14515llbl of the Charities Act 2011. Independefit examlner's aternent Your èttention Is drèwn to the fact that the charity has prepared the linancial statements in ac£ordance wlth the relevant version of the Stètement of Recommended Practke applicable to charlties preparing their financlal statements In accordance with the Flnèncial Reporting Standard applicable in the VK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended PractKe issued on l April 2(K)S which is referred to In the extant regulatlons but has now been withdrawn. l understand that this has been done in order for the financial statements to provlde true and fair view In accordance with UK GeTher3llyAccepted Accounting Prartice. I have cornpleted my examination. I coThfirrn that no matters have corne to my attention in connection with the e¥amination 81vin8 rne cause to believe that in any material resFect'. accountlng records were not kept in respect of the charity as requlred by sectlon 130 of the Charitles Act 2011. the financial statements do not accord with those records., or the financial statements do not comply with the applicable requiremenis concerning the form and content of flnanclal statements set out In the Chariries Ikcounts and Reportsl Regulations 28 other than any requirement that the financial statements 8ive a true and lair view. which is not a matter considered as part ol an independent examination. I have no ttJncern5 and hove come ocross no other rnotters ih tt+Thr1tin with the examiThotion to which attention should be drawn in this report in order to enable a proper understandin8of the financial statements to be reached. Ollver Read FCCA ACA James Todd and Co ilmittd Drayton House Drpyton Lane Chichester West Sussex P020 2EW England Date.. 27101 12026 Doc ID.. fa3f34trfjccd4845575637e879147208fa568d6d3

GOSPORT UNIT 437 OF THE SEA CAD CORPS sfATEMENT OF FINANCIAL ACtIVlTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestrlcted funds 2025 Unrestrlcted funds 2024 fr4otes In<tsme and emdowmemts Irom.. Donations and leg8cies 13,534 3,445 18.632 92 26,584 2,539 147 Other tradin8 activitie5 Investments Other incorne 89 120 Tffj•l In¢ome 35.703 29,479 Expendlture on.. 44.076 23,380 Tffjal expendlture 44,076 23,380 Net Incomellexpendlturel and movement In funds 18,3731 6,099 Reconclllatlon of fuThds'. Fund balances at l April 2024 43.636 37,537 Fund balan¢es * 31 M•r¢h 1025 35,263 43,636 The statement of finèncial activities ifitludes all gains losses reco8nised ifi the year. All income and expenditure derive from Continuing ¥¢tivities. Doc ID.. fa3f34trfjccd4845575637e879147208fa568d6d3

GOSPORT UNIT 437 OF THE SEA CAD CORPS BALANCE SHE ASAT31 MARCH2025 2025 2024 Notes Fixed asset5 Tan8ible assets 14 15.756 16,814 Current assets Cash at bank and in hand 20,107 26,822 CredltoYs- amounts falllng due wtthln one ¥e¥r 15 16(KJl Net current assets 19.507 26,822 Total assets le55 current Ilabilltles 3S,263 43,636 The funds of the charlty Unrestricted fund5 16 35,263 43,636 35.263 43,636 2710112026 The linanclal 5tstements were approved by the trustees on.......... Mr G Birse Trusi•• Doc ID.. fa3f34trfjccd4845575637e879147208fa568d6d3

GOSPORT UNIT 437 OF THE SEA CAD CORPS NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles Charity inforniation Gosport Unit 437 of the Se) Cadet Corps is a chartty tiered with the Charity Commission of England and WalÈs, numbÈr 301835. ThÈ Charity is governÈd by the sea tadets rÈgulations as detailed in the Trustees, Rew>rt. 1.1 Bas15 of preparatlon The financial statements have prepared in attordance with the tharity's governin8 documènt. thÈ CharitiÈs Act 2011. FRS 102 'The Financial Reportini Standard applicable in the UK and Republic of Ireland. and the Charities SORP "Accounting and Reporting by Charities." Ststement of Recommended Practice applicable to charlties preparlng their accounts in accordance with the Financial Reporting Standard appllcable in the UK and Republlc of Ireland IFRS 1021 The chèrSty is a Public Benefit Entity as defined by FRS 102. The charSty has taken advantage of the provlsfjons in the SORP lor charities Trot to prepare a ststement of cash flows. The financial 5tatement5 have departed from the Charitie5 IAccounts and Report51 Regulations 2008 only to the extent required to provide ¥ true and fair view. Thi5 deptyrtu h•5 involved followin8 the Ststement of Recornrnended Prèctice for charities applying FRS 102 rather than the Ver5)n of the Statement of Retommended Prnctice which is referred to in the Regulations but which has sinte been witFwlrawn. The flnanclal statements are prepared In sterlin& which is the functioThal currency ol the charlty. Monetary amounts In these flnancial statements are rounded to the nearest £. The financial statements have been pPared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accountlng pollcies adopted are set out below. 1.2 Goln¥ concern At the time of approving the financial statements, the trustees ha¥e a reasonable expectation that the charlty has adequate resources to continue In operational existence lor the foreseeabse future. Thus the trustee5 contlnue to adopt the 8oin8 concern basis ol accountlTr8 in preparing the financial statements. 1.3 Charltablelunds Unrestritted fund5 are available lor use at the discretion of the trustees In furtherance of their charitsble objectlves. Restricted fund5 are subject to spEcifK conditlOn5 by donor5 or grantor5 a5 to how they may be used. The purposes and Uses of the restricted fund5 are Set out in the note5 to the finala1 5taternents. Endowment funds are subject to spe¢rfi¢ ¢ondttions by donors that the capittil mutt be maintained by the charity. 1.4 Income Income is recogni5ed when the chafity is legalty entitled to rt afteT any performance condition5 have been met, the amounts can be rnea5ured reliably, and it is probable that irwrrbe will be received. Cash donations are recognised on elpt. Otr donatitins are recognised once the charity has bÈ*n notrfied of th donation, unless performance Conditions require deferral of the amount. Income tax recoverable in relation to don8tions received under Grft Aid ordeeds of covenant is ¢ecognised at the time of the donation. Legacies are recognised on receipt or oiherwise if the charity has been norified of an impending distribution. the amount is known. and receipt is expected. If the amouni is not known. Ihe legacy is treared as a contin8ent asset. Doc ID.. fa3f34trfjccd4845575637e879147208fa568d6d3

GOSPORT UNIT 437 OF THE SEA CAD CORPS NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Icontinuedl 1.5 Expendlture E¥penditure Is recognised once there is a legal or constructive obli8atioTh to transfer economic benefit to a third party, it 15 probable that a transfer of economic benefits will be required in settlemenL and the amount of the obligation can be measured reliablv. Expenditure is classified by activity. The costs of each activity are made up of the totsl of direct Costs and shad costs, including support Costs involved in undertaking each activity- Dirert Costs attributsble to a single activity are allocated directly to that artivity. Shared costs which contribute io rn0 than one activity and sUPtK)rt Costs which a not attributable to a single artivity a apport)ned between ¢h¢he artNities on a ba515 consistent with the use of $our¢e5. Central staff costs are allocated on ihe basis of time spent. and dePCl8t10n charges a all(Kated on the portlon of the asset's use. 1.6 Tanglble fixed assets TanÉible fixed assets a initlalty measured at cost and subsequently MeaSud at cost or valuatlon. net of depreciation and any impairment losses. Depreciation is rett)Bn15ed $0 as to write off the cost or valuation of assets less their resldual value5 over their useful live5 on the followin8 bo5e5'. Plant and equlpment Fixtures and fittings Computers Motor vehicles IO% reduclng balance IO% reilu¢ing balan¢e IO% reducing balance IO% reducin8 balan The galn or loss arisln8 on the disposal of an asset is determined as ihe difference between the sale proceeds and the carrying value of the asset, and is recognised in ihe staiemenr of financial atti¥it*s. 1.7 Impalmierf of fixed •sstts At each reporting end date, the charty vieWS the urrying amounts tsf its tsngible asset5 to deterrnine whether there is any indic3tion thèt those a55et5 have suffeTed an irnpairrnent 1055. If any such indication exists, the recoverable amount of the a55et is estimated in order ttsdetermbne the extent of the im1rmet loss lif anyl. 1.8 Cash and cash equSvalents Cash and cash equivalents include £ash in hand. deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts a shown within borrowin8s in Bositfirtoncitslossets Basic financial a55ets, which include debtor5 and lash and bank balance5, are initialty tneasured at transaction price includin8 transaition costs and are subsequeTrtly carriEd at atnortised cost using the effertive interest method unle55 the arrèngement tonstitutes a hnan£inB transartion, where the transartion is measured at the present value of the future receipts discounted at a mart rate of interest. Financial assets classified as receivable within one year are not amortised. Doc ID.. fa3f34trfjccd4845575637e879147208fa568d6d3

GOSPORT UNIT 437 OF THE SEA CAD CORPS NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Icontinuedl Boskfinonciul Ilubllitles Basic financial Iièbilities. IncludSng credrLors and bank loans are initlally recognlsed at transa£tlon price unless the arrangement constitutes a financing transaction. where the debt instrument Is measured at the present value of the future payments discounted èt a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are sub5equenttycarried at amorti5ed c05t, usingthe effective Interest rate method. Trade creditors are obli8ations to paylor 8oods or 5ervice5 that have been acquired in the ordinary course of operation5 from Suppliers. Amount5 payable are cla55ified a5 current liabilities if payment is due within one year or le55. If not, they are preserited a5 non-current liabilitie5. Trade cdItOrS a reco8nised inttially at transaction price and subsequently measured at arnorti5ed c05t Using the effective interest methotl. Derecoqnition ojfinonciulliobilities Financial liabilities are dereco8nised when the chan5 contractual obli8ath?nsexpire or are discharged or cancelled. 1.9 Employee beneffts The c05t ol èny unused holiday entitlement is reco8nised in the perlod in which the ernployee's servlces are recelved, Termination benefits a recognised immediatety as an expense when the charity is demonstrnbly cornmitted to terminate the employment of afi employee or to provide termination benefits. Itlcal accountlng estlmates and judgements ln the application ol the charity'5 accounting policies. the trustee5 are required to rnake judgement5, estlrnates and a55UrnPtion5 about the carryin8 amount of assets and liabilities that are not adIlY apparent frorn other 50urce5. The estimates and associated assumptions are based on histori¢al experience and other factors that are consldered to be relevant. Actual re5uIt5 rnay differ from these e5timate5. The estimates and undertyinE assumffjions a reviewed ofi ah ongoihg basis. Revisions to accountinÉ estimètes are recogni5ed in the period in which the e5tirnote is ViSed where the revision affect5 Only that period, or in the period of the revision and futu peri(xls where the revision afferts both curn1 and futu periods. Income from don*lons and le8ades Unrestrlcted funds 2025 Unrestrlcted funds 2024 Donations and gift5 Grants 10.752 2.782 10,690 15,894 13,534 26,584 Doc ID.. fa3f34trfjccd4845575637e879147208fa568d6d3

GOSPORT UNIT 437 OF THE SEA CAD CORPS NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from charftable actl¥ltles Unrestrfrted fund5 2025 Unrestrlrted fund5 2024 Hall hlre Sèle of 5ervice5 3.445 2,539 Income from tr•dlng •dKTKles Unrestrlcted fund$ 2025 Unrestrlcted lund5 2024 Fundraisln8 events 18.632 147 Incorne from Investrnents Unrestrf¢ttd lunds 2025 Unrestrlcted funds 2024 Interesi receivable 92 89 Other in¢ome Unrestrlcted fund5 2025 Unrestrlrted lunds 2024 Net 8aln on disposa1 of tan8ible lixed assets 120 Doc ID.. fa3f34trfjccd4845575637e879147208fa568d6d3

GOSPORT UNIT 437 OF THE SEA CAD CORPS NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expendlture on charltable actl¥ltles Charitable artivttie5 Charitable activitie5 2025 2024 Dlrect £05ts Share of support and zoveman¢e wsts (see hote 91 Support Governènce 43.476 600 23,380 44.076 23,380 Anatysls byfund Unrestricted funds 44.076 23,380 Support fosts •llou¢ed io •rtlvbtles 2025 2024 Depreciation Trainlng costs Equiprnent for unit artivitie$ Rent and service charges Heal, Llghi and water Telephone Repairs and malntenance Motor vehicle ¢osts Insurance Sundry costs Governance c05t5 1,751 3.320 2,650 794 10,713 1,374 16.075 2,646 3.915 238 1,420 314 4,545 847 4,023 1,577 2,820 3,745 3,620 469 600 44,076 23,380 Anafysed tseeen: 44.076 23,380 10 Net movement In funds 2025 2024 The net movement in funds is stated after chargingllcreditin81'. Fee5 payable for the independent exaTnination of the chartty's finarKial ststernents Depreci8fion of owned tèngible fixed assets Lossllprofitl on distx)5al of tangible fixed assÈts 600 1.751 1,420 11201 10- Doc ID.. fa3f34trfjccd4845575637e879147208fa568d6d3

GOSPORT UNIT 437 OF THE SEA CAD CORPS NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 li Trustees None of the trustees lor any per5005 coThnected with theml received any rernuneration or benefit5 from the charity durinE the year. Iz Employees The avera8e monthly number ol employees during the yearwas.. 2025 Number 2024 Numbe Total There were no employees whose annual remuneratlon was more ihan £60.WJ. 13 Taxatlon The charlly is exempt from taxaiknn on ils auivilies because all its Iorne Is applied for chariiable purposes. 14 Tan8lble fixed assets •n coThwIe MoWr%YhlcS At l Aprll 2024 Addltions 43.718 693 17.194 8.229 11,220 80,361 693 At 31 March 2025 44.411 17.194 8,229 11,220 81,054 Depre¢l•¢ion Imp•lrment At l Aprll 2024 Depreciation charged in the year 30.894 1.352 17.194 7.825 40 7,634 359 63,547 1,751 At 31 March 2025 32.246 17.194 7.86S 7.993 65,298 Carryln8 amourt At 31 March 2025 12.165 364 3,227 15,756 At 31 March 2024 12.824 3,586 16,814 15 Creditors= amountsfalling due within one Iwr 2025 2024 Accruals and deferred income 600 Doc ID.. fa3f34trfjccd4845575637e879147208fa568d6d3

GOSPORT UNIT 437 OF THE SEA CAD CORPS NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 16 Unrestrlcted funds The unrestricted funds of the charity cornprise the unexpended balances of donation5 and grant5 which are not subject to specific conditions by donors and grantors a5 to how they may be used. These include de51Enated fund5 which have been Set aside out of unrestricted fund5 bythe trustee5 for 5peofic purposes. At I Apfil 2024 Incomin¥ Resource5 (pended At 31 March 2025 General fund5 43.636 35,703 144.0761 35,263 Prevlous year: At I Apfil 2023 Incomini resources Resource5 expended At 31 March 2024 General funds 37.537 29,479 123.3801 43,636 17 Related party transartlons There were no di5closable related pa tran5artion5 durin8 the year12024- nonel. 12_ Doc ID.. fa3f34trfjccd4845575637e879147208fa568d6d3