## Leeds Unit 424 of the Sea Cadet Corps
Charity number 523754
## Annual Report and Financial Statements
for the year ended 31 March 2024
Leeds Unit 424 of the Sea Cadet Corps
Annual Report and Financial Statements for the year ended 31 March 2024
|**Contents**|**Page**|
|---|---|
|Trustees' report|2 to 3|
|Examiner's report|4|
|Receipts and payments account|5|
|Statement of assets and liabilities|6|
|Notes to the accounts|7 to 8|
## **Prepared by West Yorkshire Community Accountancy Service CIO**
1
## Leeds Unit 424 of the Sea Cadet Corps
## Trustees' report for the year ended 31 March 2024
## **Reference and administrative details of the charity, its trustees and advisors**
The trustees during the financial year and up to and including the date the report was approved were: **Name Position Dates**
Lisa Brunton Chair Duncan Summers Treasurer Christian Scheres Donald Beacroft Julie Squires Susan Hartup Secretary Jonathan Crewe Chair
Appointed 15 May 2024 Appointed 3 March 2023 Appointed 1 November 2024 Appointed 1 August 2024 Appointed 15 May 2024 Appointed 27 March 2023 Resigned 22 May 2024 Appointed 27 March 2023 Resigned 24 April 2024
## **Charity number**
523754
Registered in England and Wales
## **Registered and principal address**
## **Bankers**
Leeds Sea Cadets Lloyds Bank Thwaite Lane 15 Blackheath Village Leeds Kidbrooke LS10 1RN London SE3 9LH
## **Independent examiner**
Sarah Coates MAAT
## **West Yorkshire Community Accountancy Service CIO**
Stringer House 34 Lupton Street Leeds LS10 2QW
## **Structure, governance and management**
The charity was registered on 16 March 1965 and is governed by the standard Sea Cadet regulations.
## **Method of recruitment and appointment of trustees**
The trustees of the charity are appointed by the members at the AGM.
2
## Leeds Unit 424 of the Sea Cadet Corps Trustees' report (continued) for the year ended 31 March 2024
## **Objectives and activities**
## **The charity's objects**
The charitable purpose of the Unit (the Purpose) is to promote the development of young people in achieving their physical, intellectual and social potential as individuals and as responsible citizens by the provision of education and leisure time activities using a nautical theme and in accordance with the principles, ethos and practices of the Marine Society & Sea Cadets (MSSC).
## **The charity's main activities**
A cadet training centre based on the Leeds/Liverpool Canal near Thwaite's Mill. One of 400 spread across the UK. We currently have 60 cadets trained by 15 volunteers.
## **Public benefit statement**
The Unit Management Team (UMT) continue to give due regard to the public benefit provided by the Unit in relation to the charitable purposes of the Sea Cadet movement as set out in the activities and achievements outlined in this report. The aim is to promote the development of young people in achieving their physical, intellectual and social potential as individuals and responsible citizens in a safe environment. In order to achieve this the Unit takes young people from all backgrounds, including where possible those with disabilities and develops their skills and abilities by:
Regular and structured activities with a nautical theme.
Allowing young people to take part in activities connected with the wider Sea Cadet movement such as waterborne activities, events and competitions at district, area and national levels.
Availability of formal educational achievements whilst taking courses to earn badges and promotions.
Contributions are kept low in order to ensure all those who wish to take part in the activities of the Unit may do so.
## **Achievements and performance**
Cadet numbers were steady, the previous year’s Energy Bills have been brought under control to a manageable monthly sum, a series of community events and fundraisers have been well attended by both Staff and Cadets establishing relationships with our local communities and generating much needed funds. We have secured some restricted funding to assist with the ongoing maintenance of the estate. Cadets have enjoyed a good year of boating and training activities and a the Unit Open Day was well attended affording opportunity to demonstrate our offering to the wider community.
## **Financial review**
The net receipts for the year were £4,544, including net payments of £366 on unrestricted funds and net receipts of £4,910 on restricted funds.
## **Reserves policy**
The charity's free reserves, at the year end were £6,801.
As a Minimum, we aim to hold 3 months liabilities in Reserve, equating currently to £2,500. Further targeted fundraising throughout the coming financial years ought to allow us to increase this to a more stable 6 months Reserve in the sum of £5,000 months (target for 2025 / 2026 financial year).
Approved by the board of trustees on 27/01/2025
Duncan Summers (Trustee)
3
## Leeds Unit 424 of the Sea Cadet Corps
## Independent examiner's report to the trustees of Leeds Unit 424 of the Sea Cadet Corps
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2024, which are set out on pages 5 to 8.
## **Responsibilities and basis of report**
As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's accounts as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act; 2 the accounts do not accord with those records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Sarah Coates MAAT
27/01/2025
## **West Yorkshire Community Accountancy Service CIO**
Stringer House 34 Lupton Street Leeds LS10 2QW
4
## Leeds Unit 424 of the Sea Cadet Corps
## Receipts and payments account for the year ended 31 March 2024
|Notes
2024
Unrestricted
funds
£
**Receipts**
Grants and donations
(2)
12,386
Fundraising and special events
3,326
Sales receipts
1,602
Course fees
1,610
Rents and room hires
480
Other income
69
**Total receipts**
19,473
**Payments**
Fundraising and special events costs
804
Catering
-
Training courses
191
Items for resale
1,128
Utilities
10,105
Printing, postage and stationery
-
Phone and broadband
415
Building maintenance
2,009
Boat maintenance
-
Vehicle maintenance
173
Other equipment maintenance
793
Insurance
2,558
Equipment and resources
83
Fuel and travel
765
Independent examination of accounts
540
Bank charges
-
Unit contribution
100
Other expenses
175
**Total payments**
19,839
**Net receipts / (payments)**
(366)
**Fund balances brought forward**
7,167
**Fund balances carried forward**
(3)
6,801|2024
Restricted
funds
£
5,970
-
-
-
-
-
5,970
250
-
-
-
-
-
-
-
-
-
-
-
810
-
-
-
-
-
1,060
4,910
-
4,910|2024
Total
funds
£
18,356
3,326
1,602
1,610
480
69
25,443
1,054
-
191
1,128
10,105
-
415
2,009
-
173
793
2,558
893
765
540
-
100
175
20,899
4,544
7,167
11,711|2023
Total
funds
£
31,334
214
3,462
3,997
2,999
213
42,219
237
2,443
4,344
1,586
4,115
1,530
469
12,180
303
751
332
2,261
12,205
284
396
25
-
-
43,461
(1,242)
8,409
7,167|
|---|---|---|---|
5
## Leeds Unit 424 of the Sea Cadet Corps Statement of assets and liabilities
|as at 31 March 2024
2024
Unrestricted
£
**Cash funds**
Cash at bank
5,380
Cash in hand
1,421
**Total cash funds**
6,801|2024
Restricted
£
4,910
-
4,910|2024
Total
£
10,290
1,421
11,711|2023
Total
£
7,167
-
7,167|
|---|---|---|---|
|**Assets retained for the charity's own use**
Land and buildings
Boats
Computers and other equipment
**Liabilities**
Creditors
Accruals|2024
£
1,000
567
1,567|
|---|---|
The financial statements were approved by the board of trustees on 27/01/2025
Duncan Summers (Trustee)
6
## Leeds Unit 424 of the Sea Cadet Corps
## Notes to the accounts
## for the year ended 31 March 2024
## **1 Accounting policies**
## **Basis of accounting**
The trustees have taken advantage of section 133 of the Charities Act 2011 and have prepared the accounts on a receipts and payments basis.
There has been no change to the accounting policies since last year.
No changes have been made to the accounts for previous years.
## **Taxation**
As a charity the organisation benefits from rates relief and is generally exempt from income tax and capital gains tax but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.
## **Fund accounting**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
Further explanation of the nature and purpose of each fund is included in the notes to the accounts.
7
## Leeds Unit 424 of the Sea Cadet Corps
## Notes to the accounts continued
## for the year ended 31 March 2024
|**2 Grants and donations**
Lloyds Grant foundation
HMR Ark Royal
First Bus
Unite the Union
Leeds City Council
Arnold Clark
Marine Society & Sea Cadets
The Liz and Terry Bramall Foundation
Sir George Martin Trust
Cadet donations
Other donations
**3 Restricted funds**
Balance b/f
£
Lloyds Grant foundation
-
HMR Ark Royal
-
Unite the Union
-
First Bus
-
-|2024
Unrestricted
funds
£
-
-
-
-
-
-
-
-
-
9,798
2,588
12,386
Incoming
£
5,000
400
250
320
5,970|2024
Restricted
funds
£
5,000
400
320
250
-
-
-
-
-
-
-
5,970
Outgoing
£
490
-
250
320
1,060|2024
Total
funds
£
5,000
400
320
250
-
-
-
-
-
9,798
2,588
18,356
Transfers
£
-
-
-
-
-|2023
Total
funds
£
-
-
-
-
435
1,000
13,274
3,000
5,000
8,096
529
31,334
Balance c/f
£
4,510
400
-
-
4,910|
|---|---|---|---|---|
## **Purpose of restriction**
|||
|---|---|
|**Fund name**|**Purpose of restriction**|
|Lloyds Grant foundation|Towards the costs of equipment and a bench.|
|HMR Ark Royal|Towards the costs of a BBQ and equipment.|
|Unite the Union|Towards the costs of a Christmas meal for the cadets.|
|First Bus|Towards the costs of a Gazeebo|
## **4 Related party transactions**
## **Trustee expenses**
No trustee received any expenses during this year or the previous year.
## **Trustee remuneration and benefits**
No trustee received any remuneration or benefit during this or the previous year.
8