## **HULL SEA CADETS – TS IRON DUKE 118 ARGYLE STREET KINGSTON UPON HULL HU3 1EX** ## **ANNUAL GENERAL MEETING WEDNESDAY 6 SEPTEMBER 2023** **CHAIRMAN’S REPORT FOR THE YEAR ENDED 31 MARCH 2023** ## **Review of Progress since the last AGM** Although this Report is primarily for the year ended 31 March 2023, I am writing my comments in August which reflects an up-to-date picture. Firstly, thank you to my team for fully supporting me during the year. Thanks also to the Commanding Officer and Executive Officer – it is important for the UMT to have a good relationship with Senior Officers and Uniformed Staff to ensure the smooth running of the Unit. We are all unpaid volunteers but Uniformed Staff in particular give up their valuable free time to participate in the life of the Unit and support the Cadets in their activities. Without them the Unit would cease to exist, so thank you for all your efforts. However, we would like to recruit extra staff to help out! In last year’s Report we congratulated newly promoted C/Sgt Paul Hofman. He has now been promoted to X-Ray Company CSM and the Detachment will now be led by Lt Alfie Kerr. We wish both Paul and Alfie success in their new roles. We have been fortunate that the North Atlantic Fishing Company have yet again sponsored the Unit by paying for a 4-day Camping/Boating stay at Welton Waters. Welton staff supervised the activities and outside catering was provided for all meals. They also sponsored off-shore voyages. We are very grateful for their generosity which provides the Cadets with such opportunities. **Unit Building:** Always something to report here due to its age. As previously reported, we had a couple of big challenges last year. The old rendering on the tower structure on the OQD started to break off and became a H&S issue. This, together with some water ingress issues, required urgent attention. The rendering work on the tower was not straightforward. This structure turned out to be part of the old church (1895) which the school house (Unit) was attached to – you could see where doors and windows had been once the old rendering had been stripped off. The state of the bricks was not good and some patching had to be done. This, with the repainting of the new rendering on the tower, adjacent walls and painting of the railing and fire escape steps came to £35,551. In October we were fortunate to be awarded the whole amount by the Sir James Reckitt Charity, who last year asked the charitable causes they support in Hull to submit Centenary Grant requests. This was in addition to the £6,000 which they kindly give us every year for running costs. The next challenge is the electrics. We had our 5-yearly Electrics Check which, unsurprisingly, demonstrated that 1960’s electrics do not meet today’s standards. We have had the “Danger Present” and “Potentially Dangerous” items attended to and we are starting the “Improvement Recommended” and “Further Investigation Required” items this month. So far, we have spent just over £1,000 on these checks. Fortunately, in October last year we received a £5,000 legacy from a former member of the UMT who specifically requested that this money be spent on the fabric of the building. During her time on the UMT many years ago, Paddy spent a lot of time helping to raise money to keep the Unit going. I fully understood exactly what her request meant! At this stage we are not sure whether the building will require a re-wire with all the costs that will incur. ## **Financial Stability** Our financial health will be studied in more detail in the Treasurer’s Report. As mentioned above, we received the Grant of £35,551 from the Sir James Reckitt Charity and the Legacy of £5,000. In addition, Trinity House very generously gave us a Grant of £5,000, which will be spent on equipment for the Cadets. At the same time of this Grant, we made a separate successful application to another Charity for £2,000 to buy equipment for the Royal Marine Cadets. We have been fortunate to receive donations from quite a few of our supporters. Lt Spicer MBE takes her team to the Masonic Lodges for stewarding duties and because they represent us so well, other donations follow in the form of a Lodge “Charity of the Year”. Again, by helping out at Veteran events the members of various organisations give donations to us. If we did nothing we would not prosper. Bag packing raised just over £2,000 but it is getting difficult as tills are being reduced and stores are concentrating on their own Charity of the Year. The value of Lt Spicer’s “Black Book” is never to be underestimated in its power of persuasion! Without the annual £6,000 donation from the Sir James Reckitt Charity, it would be difficult to meet running costs, particularly after being hit by such large Utility bills during the lockdown (even though we received discounts) and of late. We continue to retain £15,000 in our Reserves for emergencies. Thankfully, due to Government funding during the Covid lockdown, we didn’t have to use it. ## **Raising Cadet Profile** We have participated in events around the City such as, Sailors’ Sunday: Lost Trawlermen’s Service: Falklands Commemoration: D-Day Service: VJ Day: and the Proclamation of King Charles III. We are delighted that one of our PO Cadets is the First Sea Lord’s Cadet (representing the Eastern Area) and we have a Lord Mayor’s Cadet and Lord Lieutenant of the East Riding of Yorkshire Cadet. These appointments certainly raise the profile of our Unit, together with our appearance at many Civic events. **We were delighted to receive a visit from Captain Sea Cadets this year, due to the appointment of the First Sea Lord’s Cadet.** ## • **The Unit Ambassador Scheme** This has been re-launched and we look forward to welcoming Ambassadors to the Awards Evening. ## • **THE ROYAL MARINE CADETS** The Detachment is going from strength to strength. As reported, C/Sgt (SCC) Paul Hofman has been promoted to X-Ray Company CSM. Lt Alfie Kerr is the new Detachment Commander. ## **DATA Related to 2022/2023** **In August 2023 all Unit Chairs and Commanding Officers/Officers in Charge received an email from Capt Sea Cadets and the Director of Young People, Volunteer & Business Support. This was to clarify our roles. The leadership and management of a Sea Cadets Unit is a partnership between the Unit Chair and the Commanding Officer/OIC. Both roles are geared towards ensuring the Unit’s growth and success by offering a quality experience for the Cadets.** ## **Roles and Responsibilities** **The UC and CO/OiC have distinct roles, with each set of responsibilities being equally important to the success of the Unit. The Unit Chair focuses on the business and legal aspects, overseeing the Unit Management Team and managing finances, property and other resources. The CO/OiC is responsible for the leadership of the instructors, welfare of the Cadets and delivery of the Sea Cadets Experience. Regardless of their rank and seniority, the CO/OiC has authority over all other instructional volunteers within the Unit. Both roles must always work within the Sea Cadets Regulations and Charity Laws applicable (enshrined in the Sea Cadets Standard Constitution 2017)** **They both hold equal weight in ensuring the Unit’s success and a cooperative partnership between the two is essential for the wellbeing of the Unit and its Cadets.** **The memo goes on to advise on how to manage disagreements between the Unit Chair and CO/OiC. If necessary, liaison with the District and Area Chair who should inform the VBSM and the CO/OiC would inform the District Officer. The District Team would then mediate to find a resolution.** **I can confirm that both the CO and I work in partnership to ensure the success of Hull Unit.** ## **Unit Assets** Our building is owned by the Unit and valued at £400,000 Freehold. ## **Asset & Marine Assets** Are covered in the Treasurer’s Report ## **Accounting Systems** As Chairman, I have overall accountability for ensuring that the financial systems comply with the requirements of the Sea Cadet Corps, the Marine Society and the Charities Commission. Jacksons, Chartered Accountants are the new Independent Examiners of our Annual Accounts. These have been duly examined and signed off. ## **Unit Management Team Structure** The standard Committee structure is adhered to. **Ms Susan Coupland Hon Chairman Hon Alderman Bryan Bradley DL Vice Chairman Ms Tracey Tomlinson Hon Treasurer WO2 (SCC) Sally Green RNR Commanding Officer Capt Derek Chadburn MSc Committee Member/Hon Co of Master Mariners Capt Chris Towne Committee Member/Trinity House Representative Position Vacant Hon Secretary** **Mr Ben Rose is our Hon Legal Advisor and has agreed to continue within his post** My personal thanks to the team for your support. ## **Parents & Friends Association** Members are few! However, the UMT thanks Paul Smith for helping out with teas/coffees and driving the minibus when shifts allow. Also, Gail Ozkan who is on-hand when we need her. **Big thanks to Mrs Gemma Smith who undertakes Admin/BTEC/Duke of Edinburgh Scheme and Stores!** _**Thank you all for working together to make TS Iron Duke such a strong Unit which does its very best to deliver the Cadet experience to our young people.**_ Registered number 505324 Hull Untt of the Sea Cadet Corps Report and Financial Statements 31 March 2023 Hull Unit of the Sea Cadet Corps Report and accounts Contents Page Charity Information Tnths, R8P(Yt Ind8pendent Examknevs Rep(*t Statement of Financlal AG￿￿e$ Stathm￿t of Financia Positic statsment of Changes In Charllable Funts Statement of Cash Fl 10 Notes b the F￿a￿l¥l Statements 11 Detallgd Ststement of Flnan(yal Acb4ryks 16 Detalled Imime and EXpendilu￿ Acc￿nI 17 Hull Unlt of tho Sea Cadet Corps Charfty Infomiatlon Trustegs Nhs. Susan Coupland {Hon. Chairman) Hon. Alderman Bryan Bradley DL Ivice Chairn18n) Ms. Tracey Tomlinson {Hon. Treasurer) Captain Derek Chadbum, MSC Captain Chris Towne Indèpondant examlners Jackson5 Chartered AcC￿ntaI￿ Flrnt Floor, Albkn Housa Abl￿ Street Hull HU1 3TE Bankers Bardays Bank UK plc 1 Churchill Place London E14 SHP 118 ArgsI8 Street Hul East Yorkshlre HU3 1EX Regl•lered number 505324 Govemlng docuni•nt Consliiutionlmernorandum of Under8laThfjiThJ bell%￿ the MSSC and the Mnisty of Def8nce Hull Unit of the Sea Cadet Corps Reglstored charity numbor. 505324 Trustees. Report for the year ended 31 March 2023 The trustses present their report and finwcial stat￿ents for the yBorend￿1 31 March 2023. Prlnclp81 acllvltles Th8 Charity's principal during the )tar G￿tinUed to be dferffig a ranF of waLY ar￿ land- based activibes in line the trathticffl and ￿st￿fis of the Roy81 Navy. The nauti¢g1 focus shapBS the ￿havk￿r and discypliDO of our young pecple Is distinct from other Y￿rth groups offer•d by schools. Our ethos is to enGourage high standards of behaviour. which can help young peopl8 engag8 in educatlm and F#)silively shap& theirfuture. ObE•¢llv•s and actlvhles Th8 rAincipal objectiveslathiilles of the Charity we frx young r* to g￿. lrfe sklls.. s&Ef4oDfidence, leadership, teamwrt ccmmunicatlon, citizenship. knnOvatic￿,. Wa￿e$.. respert kjraty, se￿￿16sCipIl)e, C(￿MI￿nen( honesty & integrfty, qualrfiLXttons: 8TEC, Duke of Edintr￿rgh. NatiDnal Goveming B(Mty, an increase of Job K*ospe¢Xs' nautical skllls: boatiro. sailry, (rff-shore voyages wi trainiry ship. and new friendshi￿ a5 well as becc¥ning a valuable member of so￿ety. Publlc benefit We have referred to the Charity CL¥nmissknt's general ￿ldance publ￿ benefft vthen reviewng our alms ot¥ectrves and In pbnniNJ our future actiwbes. In parficular, th8 trusbes consider how planned a￿￿tIeS will cc￿tritr￿te to the ams and otiectlves they have sel. We exist to serve young people in our communty %Mthout discr1n1nat￿. We 5trve to pr(￿oIe 50¢ial w8lfare tlvough the provisi￿t of facilities am8d at improving the wAal a￿1 ￿ysical ￿l￿eIng of those In our IcKal cornmunity. The Charity provides a safe worldrvd envIronm￿t for v1s1t￿8. mwnt¢rs. workers and vdunteers and any seTiOUS incidence are r8PLYted in *ith (xjr Saf￿jUardlng wjlcy. Thwe was no Incidence during the year ended 31 Marth 2023. ACtmt￿ durin the There are many courses the Cadets can undertake fr(ffj se￿anShIp to CcKJklnglStewar(kng. Wstertjome activities are undertaken dlwing the year at Wehon Waters. W& attend City Civic Events - this year we had a Cadet serwng the Lord Mayor CA lfjngston upon Hull: anolher Cadat serving the Lord L￿tenant of the East Riding of Ytykshire 8nd anolher is the First Sea Lord's Cadet represen￿ng the Eastem Area. We are also 8 Trainlng Centre for other Unlts withln the Eastsm Area. Hull Unlt of the Sea Cadet Corps Registered charity nurnber. 505324 Trustees. Report for the year ended 31 March 2023 Financlal ravlew Prin al sources of fundin The largest contribution to the Charity k% frL¥n the &r James Reckitt Charity. They awd us £6.000 p.a. we use f(* njnning costs. Last yEar we recdved extra fijnding to ￿an￿ a project at the UniL Athough have a govemiThJ LKKIY trhe Marine Soci8ty of Sea Cadets [MSSCI). they do not give us Tunning costs. n(w does the Unit receive direct funding from the Royal Navy, unllke clher Cadet Ftyces (AmylAr). An￿h¢ry need Unit we have to apply for Grants from oth8r ctharitable ¢xg8nFs8tic￿s. W8 do receive sub￿lptionS from our Cadets (£15 per month) reductims for knity membership. There ar6 81so smaller d￿allonS from oth8r organi5ationslsuFVQrters thrwghout the too. Finar￿[al remew The Char￿Y achieved a surplus of £15.258 the fwtancial year. At 31 March 2023. the Charity held total funds of £531,427,. £92,204 crf was c8sh at the bank and in harKI. (The rest is the V81ue of fixed assets. £439.623 less credIt￿S of £720.) Ths, in al 18 considered to be an approprth level oflunds to e￿blE the thTty to pursue Its ok4&lpAs. Reserve5 The trust88s have a forecasl of Ihe level of free reserves, (that is, those funds not tl8d up in fixed assets) thal Ihe Chatity WIH wuire b sustain ils da*tTrday oL4KJations. Whilst our actual free reseNes may prove sufflctert li Is the truste￿, vith¥ that it 15 pwdent to en8ure that tsre are sufficient free reserves to provide Ilnanr4al llex11x￿ty ift the hght d the ChariW$ dep8nd￿ce on grants and d￿ath'Ons. nvoslment 0￿¢ The truste&s have adopted a strtyvJ SLMaaly res￿n￿b* inb*sIm￿l wAiGy th8 reserves of the Charity. Thls polcy. In tandan the need to fulfil Sta￿t￿ otligations. ha5 the ci)jective of Inve5tkng in such a way that the pdnc¥Aes of socaaly r8spon5ibla iivestrnent are W￿￿Otert. A further factor Is the need to have rea(ly acces5 to c￿r resetves, as long-tem fur*¥ing cannot be guaranteed. so for the current period. we have tlaced sw￿lS fvnds In a cwrent a¢￿1nt Risk mana emeJ)t The trustees actbvely review, ￿ a r8gLdar basis, the maior risks that the Charty faGes in matntsinir#J respJves * the levels slated atrM)we, In •Jdtbon to ￿ annual remew of the o)ntrols over key f￿ancIal SyEtwns (￿t thruusth an intemal audit pr￿e$s. The trustees have also examned olher ci)ttats)n818nd trJJsin8ss iisks whkh face and conflmi that tr￿Y have taken steps lo mitlgate the signfficant rlsks. stTuclure, governance and managament min mant Hull Unit of Ihe Sea Cad8t Corps is a tharitaue org￿lsa1￿m that has running in Hull sinc8 1914 ond was reg'stered as a charity in 1976. The Mame Soci8ty and Sea Cadets m￿ged and the Charity 15 govemed by a Constitution1M￿￿9ndum of Undèrstarrfllng be￿8e￿ the MSSC and the Ministry of D9fence IMODI. Ar￿nd 4QO Urmts then lJecarTre separate charlties (funding themsalves) I￿1h the MSSC as their governing body. The Chwtytra(les a$ 14ull Sea Cadets,. Hull Unit of the Sea Cadet Corps Registered charity number. 505324 Trusteos. Report for tho year ended 31 March 2023 anisatiC￿8[ structure Each unit has Unrf0￿ed staff headed up by the Commanding Officer (CO). The Unit Management Team IUMT) are '¢tvilans' and we re$￿sIble for the maint&nance of the UnlL payntsnt of Lllls, prO￿ding equipment. We are a small team headed up by the Chairman VAK) has uth'mats responsibility for the Untt. To be effective, the CommaTMliw Officer and Chaiman have to maintaln a g￿d ￿￿rk[ng relati(Thhip. We hav8 an Ex8CUtr¥e Otfker ts second to Ihe CO and an Operallons offl￿ oTrJani5es events in w¥undion V•ith the CO and UMT. We also have a Royal Marnes D&achment head￿ by a Delad￿ent Commander. Volunteets Volunteers {slaff and UMT) do not get paid aNI *llkngly gl¥e up I￿lT free time- ￿aUt them Ihe Ur￿1 would not be atle to q)erate. There *Ere 16 vo￿nteerS througt¥xrt the year w*k) aid￿ in the wnniThJ of th& Charity. Refxultrnen in rus Cadets ￿ see our Website, up onltne and then irysft th8 UnfL Staff are very often from naval baGkgrwnd or volurteers just want to Sh3n w) as instruLlcrs. Trust￿ for UMT are harder to find and usualty are approached by the téam rf we conshJ8r tham a suitsbl& candwjate. tralnln Most Inducbon and TraiThng is now done online and monitored by HQ. Ml the necessary Saf8guardino IraininglDBS has to be completed before staff are 811owed near the Cadets. Tru8lees The follovAng persons served as biJstees dudrMJ ts 5wr. . Susan Coupland (Hon. Chalrmanl Hon. Aldemian Bryan Bradley (Wice Champnl Ms. Tracey Tcrfn1inS￿ (Hon. Treasurer) Captain Derek Chadbum. Msc Captsin Chris T¢Me Tru¥tMs' r•sponslbllltio8 Th6 Trustees are resportsltde fLY kee&kng a¢o)unting rec￿dS t**Jith disc￿￿ reasonable accuracy the financial wsill￿ of the Charity and enablp them lo ascertain to ensure Ihat the accounts compty with the Charities Act 2011 and the provisions of Ihe Iwst deed. They are also responsiEAe for safeguarding the assets of the Chty and ￿nce for taking reasonable steps for the Preventi￿ and dotectii)n ￿fraud and other irregu*ibe5. The TnJstees are res￿ns￿le the rna￿1￿￿￿e and integrity of th8 Charity and fin￿￿181 infomation in¢￿ded on the Charitys We￿te as as: a) to prepare financi81 staternents which show a true and fair vi￿. b) In preparing financi* statements: (l) to select suitable accounting polldes and appty thwn on a consistent basis. (lil to make judgements and estimates thal are prn￿t and reasonable: a5 weu as Hull Unlt of the Sea Cadet Corp8 Registered charity Trumber. 505324 Truslees. Report for the year ended 31 March 20ZJ ¢) to keep accounting recwds. Dlxclosura of Infonnatlon to independonl exaninws Each person a biJste6 at tho lime thls rew1 was ap1x0￿ ¢£4￿MiS that so far as he is awwe, there is no relevant audit hknrmation ofvhjith th8 Gharfws iThJependent examiner is unaware; and he has tsken all the steps that he ought to have taken as a trustee In (Kder to make himsdf aware of any relevant audlt InfO￿atIc￿ arKI to establsh that ts tharitys Indep￿dent examiner 15 avrare of that information. This report was approved bylhe bwd ￿ 17 May 207J and signed on Its bahalr. M& Su$8n Coupland (Hon. Chainnan) Trustee Hull Unlt ol thè Sea Cadet Corps Independent ExamIne￿5 Report to the members of Hull Unlt of the Sea Cadet Corps I rep￿ to the Iwste8s on my examination of the acc￿nts crf the 8bove chartty Cthe Ch8riW) for the year ended 31 March 2023 are set wt in pages 1 to 17. Re8ponsl>llltlos and basls of report As the ChaNtVs trwstees. you we reswisible fr￿ the ￿￿eparati￿ of the In accc*dance the req￿rements oflhe Ch8rtti8s Art 2011 (1he ACV). I report In respect of my examination of Ihe chari￿s ac￿jnts rarled under se¢fjffj 145 of the 2011 Act and ￿ C?￿ng my examinauon, I have fdItr+￿ al the aFWlcable Direcbons giv￿ by the Charfty Commiswon under $8Ction 14515Xb) crfthe P Independ¢nl examlnetrs •tatement I have completed my ewninatiun. l ¢LNffiTm that ￿ material matters have come to my attention in cMnedlon th the examination which gives me cause to beli8V8 that in. any material resp . the accounting rec￿ were not kept in ￿Kdan￿ wlth sect￿￿ 130 of the char￿88 Act. or . the a¢￿Unts nol aCt￿d vith the accounting rets)rd&' or . the accounts did not cOm￿Y wlth Ihe applut4e reqUwwn￿ts 0)nCen￿ng th8 fcffii and ¢on18nt of aLwunts set wt w) th8 Charities (AccoLW)ts and Reports) RewIatiL￿s 2CK18 other than any requirement that the accounts we a 'true and fairf vi8w 15 not a matter considwed as part of an independent examlnatlon. I have no Gon¢ems and have C(￿￿8 acrctss rK) txher rnatt￿ in comecticn V￿th the examination to which 2ttÈntsoTr should bé drawn ￿ this rewt in Nrler to enable a proper understanding of the accounts to be re8ched. Math Jackson {Senic* Statutory Audltor) for and on behall of Jacksons Chartered Accountants First Floor. Albion House Ajblon Street Hull HU1 3TE 17 May 2023 Hull Untt af th• S•a Cad•t Corps Statement of Flnanclal A¢llYltlq5 forthe ￿ar ended 31 March 2W23 2023 32,057 13,785 Eypendth ￿ th8rllable actwb88 13.6221 (3,7781 11,382} ope￿n9 In¢om• 28A35 (3,7T8) 24,fj57 12,403 Admlnl*afve expenses {59.6821 48.027 {59,68ZI 50213 151,416 22,866 4,180 Op•ratlng 14.780 15,18B 116,1471 70 15 146 Rqcondlallw offvnd* Nat move￿￿kn l￿d8 ToiollLThls bnwghlk*w 14.850 15258 516,16 115,1461 582,315 1&778 Net mowrtrt In l￿d* 517 41 14,1 531,427 Hull Unlt of the Sea Cadèt Corps Statement of Flnanclal Poslllon as at 31 March 2023 2023 FIX￿ a$￿ts Tarylble assets 439,623 443.719 CUrr￿rt atsets Debtors Cash at bank 320 78.018 78.338 320 92,204 92,524 380 72,670 73,050 14,186 14.186 Cr•dltors: amounts fallng du• wlthln one yoar (T201 {720) le￿) 77.618 14.1 91,804 72,450 517241 14.186 531,427 516,169 Capltal and reser Unrestricted l￿dS Reslr4cted funds 517.241 517241 14,186 2,391 13,778 14.1B6 T(￿1 equlty 517 1 14.186 531,427 516,169 Ms. Susw Cwp18nd (Hon. Chairman) Approved by ￿ i￿rd on 17 May 2023 Hull Unit Of the Sea Cadet Corps Statement of Changes In Charltabl8 Funds for the year ended 31 MaY¢h 2023 Th1$ SGhedule does not lom7 part of rh8 Statutory acGL¥mts Income and Expendrture Totsl At 1 Apvll 2(r21 532.315 532.315 Loss fty the financ4al year (16.146) (16,146) At 31 Mareh 2022 516.169 516,169 At 1 Aprll 2022 516.169 516,169 Profft for Ihe flnanci&l year 15.258 15258 At 31 March 2023 531.427 531,427 Hull Unlt of the Sea Cadel Corps Statement of Cash Flows for the year endod 31 March 2023 2023 2022 Operailng acllvltle5 Profftl(lossl the finanaal 15.258 (16.1461 Adjustments for: Interest receivable Depreciation DeGreasel(increasel in del)t(Ks Inr%ease in creditcrfs {70) 4,096 60 120 19.464 (1) 5.343 (380) 600 (10.584) Intwest receiv& Cash ￿erated byl(used athiti85 19.534 10,583 Net cash generatedllusedl Cash generated byl(used In) operating adivitses 19.534 (10.583) Net cash genefaledl(used) 19,534 (10.583) Cash aThJ cash equfvalents at 1 April Cash and ca$h equfvalents at 31 Marth 72.670 92,204 83,253 72.670 Cash and cash equivalents ccfftpri Cash at bank 92.204 10 Hull Unlt of the Sea Cadet Cwps Notes to the Financial Statements for the year ended 31 March 2023 1 Summary of slgnlfkHnt accountlng pollcleB Th& finan(aal stalements Iwe teen prepwed under the hiskncal cost Con￿ti￿ and aC￿)rdan￿ wth the Ststsment of Rec￿MendelI l)ractice (SORP): Accounting and Reporting by Charities weparing their acc(￿nts in accordance Vlilh lh8 Financial RepDrtlng Standard applicable in the UK and Republic of IrelarKI (FRS 102) i&8ued 16 Juty 2014 and the Finar￿jaI Reporting Standard app[￿trAe in the Unlted lfjngth)m arKI Republic of Ire18nd (FRS 1021 and the Chariti8s Ad2011. The thartty constitutes a publk benefft entity as defft￿ by FRS 102. AJI income Is recognised in the Statement of Financral Athrbes once the Chartty has entiuement to the fvThJs, il is wobable that the InG(xne b8 r￿1Ved. aThl the amount Gan ￿ measured reliably. Tanglble flxedassets Tangible ftxed assets are measu￿￿ at Cogt acumuLqlr4e depredatkn al￿ any accumulatlv8 impainnent losses. DeV￿latIon is provided on all t￿ible fixed assets. tther than freehold land, at rates calculated to ￿lte off the cosi18ss estimated reslthjal value, of each asset evenly over its xpected useful lrfe, as follows: Plant and mathinery Motor vehicles ai a rate of l￿fi, straight-llne dBpreciatKJn at a rate of 10¥tr. reducing balance Sh￿t term debtors are measured at transadlon Is usualty the Invoke wlce), less any impairment losses f(* bad and doublful debts. Lo8￿ and other tnanual ass8ts are initially recognised at transaction price inchjding any transactK)n costs and sUbSequen￿Y measured at amorused c05t delemilned using the effective interest methth4, less any impairn18nt tosses for bad and d￿btful debts. Cr￿￿rS Short temi creditors are measured at prKe is usualty the invoice PF?ce). Loans and other financial liabilities are inttialty r￿(￿jnI5ed at transaclion price net of any trans￿tion costs and $ubsequenlly measured at amorbsed cost detennined u$ng the effective intere5É method. Th& ch￿ty is exempt from laxatiw under seclicns $21 10 536 of the Incom8 Tax Act 2￿7 {￿A 2(KJ7). Fund accounting." ￿StrfCtod and Unre5rrf￿ funds Unrestricted funds can be used in a(X￿d￿lt￿ with the charitaNe otiecltve6 at the discretion of the trustees. Re51ricaed fijnds can onty be used for particul¥ reslricted purposes within the objects of the Charity. Restrictions arise when specffied by the doncff or when funds are rdi88d f¢x particular restricted purposes. 11 Hull Unlt of the Sea Cadet Corps Notes to the FinanGlal Statements for the year onded 31 March 2023 Further explanalon of the nature and purpcth of exh fuThJ is induded in the notes ￿ the finandal ststements. Golng concern The accounts have been prepared on goirb3 concem basi4 vthlth imFlies that the Trustees believe Ihe Charity will ￿ in operaticThl 8￿stenCe twe￿8 months from the date of a￿)roval of these accounts. There are no matsTial uncertanligs. Provisions F)rovisions li.e. Itabilitses of ￿¢￿taIn tIMi￿ or amount) are recognised ￿en 117ere is en I*)￿ga￿On at thfr rep)rting date 8S 8 result of a past event. it is probable that economic benefrt will be tr￿Sferred to settle the d)Ilgafjon the amourrt ofthe can be esumated rellably. Pensions Crmlrfbutic￿S lo defined contr1Juli￿ plans are exPer￿ed in Ihe wryl ta vknith thBy relate. Gov¢mment grants The acmial model {FRS 102 24.5C-G) was appB8d li pr￿lucIng these aC￿Unts: therefcre g￿ts were r&cogn¢sed as either relaliTVJ to revenue CO￿ the period in tht¢h the Charfty recogNses the re18ted ￿$ts for vknich the gr8nl was irt8nded to compensaiel or relating to assets (over the expected usefvjl Iwe of the asset). 2 An￿y*l8 of iDCOm• from ¢hwttabb actl¥ltl•s 2023 2022 Glfts, donati(Th and ￿edgeS Cadet subscriptions Other contrfbutlons Cadet nuty {Tud( slw) 18,938 9,379 3,557 183 32,057 6,560 6.410 815 13.785 By geograpl*cal mwk8t UK 32.057 13,785 3 Oporotlng 4urplu8lld•flclt) 2023 2022 TFis is stated after chargiry.. Depreciatlon of ovmthq fixed assets 4,096 12 Hull Unlt of the Soa Cadet Corps Notes to the Flnanclal Statements for the year ended 31 March 2023 4 Tanglbl• fixod a86ets Land and bulldlng6 At cost Plant and machlnery At Cost Motor hlcleg At cost Totsl Cosl or valuatlon At 1 April 2022 At 31 March 2023 22.OUD 22.000 456.570 456,570 400,000 34,570 Depreclatlon At 1 ￿ri1 2022 Charge for the year At 31 March 2023 6.691 6,160 1,604 7.764 12.851 4,096 16,947 9.183 Carrylng amounl At 31 March 2023 400.tKKt 25.387 14,236 439,623 At 31 March 2022 400,0 27.879 15.840 443,719 5 D¢bto 2023 2022 Other debtors 320 380 6 Cradltors: amounts falllng duèwlthln one y 2023 2022 Trade credltors 720 600 7 Funds 2023 2022 At 1 Aprfl income for the fiwGi* year 516,169 15.258 532.315 (16.1461 At 31 March 531,427 516 169 13 Hull Unlt of the Sea Cadet Corps Notes to the Financial SLthments for the year endèd 31 March 2023 2023 2022 Restricted and unr•strict•d funds At 1 April Unmstricted funds 502.391 13.778 506.052 26,263 Net inGome for the financial y UnrestriGted funds Resti7Ct8d lunds 14.850 408 (3,661) (12.485) At31 March 517.241 14.186 502,391 13,778 Restricted fvnds 531,427 516.169 Unrestrid8d fund5 are avallable for use at the discreti￿ of the trustees, In order lo further tt £IO.CW)O In restricted funds is mcw that has d￿gnated for ￿ refubbishlng of the Chaws building and the rest Is lu be spent on 'Cadets: C8mp5 ar*J ￿r8es, and 'C4dets: Unrfcffms and equlpmenf. Analy51s ¢rf net assets botween funds 2023 2022 lund& Flxed assets Currerrt assets current118bililies Nonwcurrent Ilabilities 439.623 78.338 17201 439,623 92,524 (720) 443.719 73,050 (600) 14.186 517241 14.186 531.427 516,169 9 R•latsd party twsactlons There were no pa￿nents made to trustee5 durwwJ the financial pr. 10 Pres¢Thtsll(￿ curncy financial statements are presented In ste￿￿, rounded to the nearest kN)und {£). 11 L8gal fomi of ¢ntlty and county al Incorporallon Hull Unit of the Sea C&et C￿5 is an Unir￿[pOrated rjwity a7d registered the ChaTity Ccmmlssion for England arNI Wats. 14 Hull Unlt of the Sea Cadet Corps Notes to the Financlal Slatements for the ￿ar ended 31 IAarch 2023 12 Prfnclpal place of buslne88 The address of the charitls pr*iupal pl8¢e of busintss regist8￿1 (lfi¢e 1$: 118 Argyle Streat HLII East Yorkshre HU31EX 15 Hull Unlt of the Sea Cadet Corps Detalled Statement of Flnanclal Activltles also InGom8 and Expgndrfure Account for the year ended 31 March 2023 2023 2022 Income from thatftable aGtlvlU Gifts. donations and pledges Cadet subscAptlMs Oih8r contdbutions Cadet nuty {Tuck shop) 18.938 9,379 3.55r 6.560 6.410 815 32,057 13.785 Expendlture on charltable actmtlès Cajgts.. Camps and cwrses Cajets: Unlforms arKI equlkxnent Gifts and dOnati(￿S Catering and hospitslty Cadet nutty (Tuck Shop) 132a6) 13,821) 143) (250) (947) 43S {1,382) 17.4W) No1 operallng InGome 24.657 12,403 SuppcA costs Govemance costs other r¥)eralng tr￿l￿ne {58.9&2) (720) 50,213 (50.388) 11,028) 22,866 oP￿alIng Su￿lusI(d￿Itj 15.188 (16,147) Interest recefvable Movement In funds: Surplus1(deff¢lt) 15.258 16,146 16 Hull Unlt of the Sea Cadet co￿5 Deialled Income and Expenditure A£count for tho year èndod 31 March 2023 2023 2022 from charltsble actlvldes Gifts, donations and FWges Cadet subscriptions Other contrlbulic￿s Cadet nuty (fuck shop) 18.938 9,379 3.557 1&3 31057 6,560 6,410 815 13,785 Expendttura on charhablo acllvlll Cadets.. Camps and GOLrses Cadets.. Uniforms and equiFrfnent Gifts and donations Catering and hosFitality Cadet nutty (Tud( shop) 3,286 3,821 43 250 947 435 1,382 Admlnlstratlve èxpenses rt costs EmFdoy88 costs: staff training and welfare Travel and subsistence Motor expenses 20 857 339 553 892 1,745 Premlses costs.. Rates Light and heat Cleaning 1286 6.268 15 7,S69 768 2,826 3.594 General administratrve exp8nses: Tdephon8 and inlemel Stationery and printing Subscriptions InSUra￿e Equipment expensed Equipment hire Repairs and malntenance Depre¢i81 Sundry expenses 828 792 I￿) 3.281 3.129 300 40,215 4,096 550 49,648 35,251 1.087 45,902 Support costs 58.962 50.388 mance costs Legal and wofessional costs: Independent examination fees Advertising and PR 720 188 Govemance costs 720 1.028 Admirnstratwe expenses 59,682 51.416 17 Hull Unlt of the Sea Cadet Corps Detalled Income and Expenditure knount for the year ondod 31 March 2023 2022 Oth•r operatlng Income Grants received Other income.. Badgeslunrfomis Other income.. VoydgeslMSSC train*ig Other operatlng income 44,851 1.140 4.186 20,167 1.388 1.008 303 50.213 22,866 18 118 ARGYLE STREET, KINGSTON UPON HULL HU3 1HX HULL SEA CADETS TREASURER’S REPORT AS AT 31 MARCH 2023 Total Income as at the end of the Financial Year (31 March 2023) was £85,377.35 and Total Expenditure was £66,263.70 resulting in £19,113.65 income over expenditure. Total in the Bank was £57,488.72 Savings Balance £18,510.61: which includes RESERVES £15,000 Revenge a/c £97.12 PFA a/c £1,152.46 The financial year has been challenging, particularly with the bills for Utilities £6,268.36 (£2,739.39) particularly as we are frugal with the heating. It helped that we received Government Energy Bill Relief or the bills would have been even higher. Our big problem during last year was that the rendering on the “tower” started to come off creating a Health & Safety issue on the OQD (car park). This was original rendering dating back to the mid-1960’s when the Unit was purchased. We discovered that the brickwork underneath the rendering dated back to 1895 and required some attention too. The cost of re-rendering the tower/additional work on the brickwork to the East side/repainting the newer rendering on the South side done in 2015 came to £35,551. Fortunately for us, the Sir James Reckitt Charity who give us a £6,000 grant each year were promoting an opportunity for their existing beneficiaries to apply for additional funding in 2022. We were extremely fortunate to be granted the whole amount and the work was almost completed in the Autumn when the painting of the additional rendering had to be put on hold until Spring 2023 due to the weather. We have ringfenced £2,000 in the main account for this purpose. It gets quite expensive to pay for maintenance contracts but our governing body insists that these are taken out (Gas/Electric/Fire Alarm/Security Alarm/Fire Extinguishers). We have been fortunate to receive some substantial donations this financial period. Trinity House gave us £5,000 which is being used to pay for equipment etc for the Cadets. We also received a Legacy of £5,000 from a former Committee Member who specified that this had to be used for the upkeep of the building. As we have just had a 5-yearly Electrical Check which showed that 1960’s electrics do not meet today’s standards, this money will be used to rectify all the problems discovered. Our good friends the Masons have been generous to us with donations, as have other supporters. The Sir James Reckitt Charity sent us £6,000 which we use towards running costs and the Dewhirst Charitable Trust £1,000. Our friends the Masons were very generous with several Lodges voting us their Charity of the Year, not to mention the Stewarding Events which we undertake. We have played “catch up” with our Bag Packing and other fundraising events, achieving £3,556.63 (£815.38). ## **SOME OF THE RUNNING COSTS – where the money goes** Fire Alarm Service 2 x £180 Fire Extinguisher Service £94.80 Gas Check £180 5 Yearly Electrics Check £660 PAT Testing Security Alarm £480 Insurance £3,071 (£2,856.96) Minibus Insurance £595 Travel Expenses (fuel for mini-bus) £856.51 (£245.39) Trade refuse £684.87 (£547.08) Council Tax (Business Rates) Utilities £6,268.36 (£2,739.39) Telephone The age of the building means there is always something going wrong! ## **NOTES FOR ACCOUNTANT (to help you understand us!)** Restricted Grants – These are placed here because a grant has been given for a specific project and the money not to be used for anything else Unrestricted Grants – We are free to use for running costs, equipment etc Building Maintenance – Maintenance contracts are included under this heading All costs including Insurance relating to the minibus are put under the heading Minibus Camps/Courses and MSSC relate to the cost of camps and courses and any allowances the MSSC return to us. PFA – Parents and Friends account. This is an account which collects money in from the Cadets when they buy “Nutty” and pays out for the purchase of the sweets. “Nutty” is a naval term, basically like a tuck shop. Revenge account: This account for the Bar is dormant. We still maintain a proper Licence as it is a Bar. We have not used it properly since before lockdown, particularly as staff/visitors are not allowed to drink whilst cadets are on the premises. ## **Other Information** The Hull Sea Cadets, like other Cadet Units over the country, were set up initially as separate charities but we have a Governing Body, the Marine Society of Sea Cadets (MSSC). We have individual charity numbers (ours is 505324). Volunteers do not get paid, we give our time free. We do not receive any running costs, unlike other Cadet Units (Army/Air Cadets). The Royal Navy does not fund us, nor does the MSSC. We own our building which is a “building of special interest” and not listed. TRUSTEES as listed with the Charity Commission Ms Susan Coupland (Hon Chairman) Hon Alderman Bryan Bradley DL (Vice Chairman) Ms Tracey Tomlinson (Hon Treasurer) Captain Derek Chadburn MSc Captain Chris Towne (The position of Hon Secretary is vacant but I am hoping to fill this soon)