2022-03-31-accounts - Docklands Sailing Centre Trust

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DOCKLANDS SAILING CENTRE TRUST ANNUAL REPORT

Review and Accounts for the year ending 31 March 2022

Company Number: 02317321

Charity Number: 801049

DIRECTORS’ & TRUSTEES’ REPORT

The trustees are pleased to present their annual directors’ report together with the financial statements of the charity for the year ended 31st March 2022, which are also prepared to meet the requirements for a directors’ report and Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statements of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OUR PURPOSE AND ACTIVITIES

The Charity’s principal activity is providing or assisting in the provision of facilities for water related activities at the Docklands Sailing & Watersports Centre, Millwall Dock, and elsewhere for the public benefit in the interest of social welfare. The Charity’s subsidiary undertaking company, Docklands Sailing Centre Limited, is responsible for the provision and management of bar and catering facilities at the centre.

The subsidiary undertaking has entered into a Deed of Covenant with the company under which its taxable income each year is covenanted to the Charity. However, the trading subsidiary suffered losses in the year due to restrictions on its operations from the Covid 19 pandemic. As a result, the trading subsidiary will be making a Gift Aid payment of Nil (2021 – NIL).

The Trustees, as required by the framework in which the achievement of charitable purpose and public benefit is met, continue to keep the community and youth usage of the Centre as a main feature of report on operations at each Board meeting. We have been satisfied that the public benefit of the work of DSWC is clear and demonstrable, being further recorded and manifest by events set out on the website, e-newsletter and activity board on display in reception. The Trustees will be reviewing our methods for this in the next year.

ACHIEVEMENT AND ACTIVITIES

The year under report started with trepidation of what the future would bring, the Lockdown Exit Plan having only just been implemented. During the exit phase DSWC operations remained severely curtailed but rapidly returned to a somewhat normal situation. Boosted by more free time in 2021/22 and with restrictions and uncertainty surrounding overseas travel we continued to see large numbers of individuals attending the non-instructed sessions of Open Water Swimming, Stand Up Paddleboarding and Sit on Top Kayaking.

School groups

Following a years worth of lockdowns and restrictions, school groups returned with vigour, a total of 32 schools engaged in sailing, kayaking and Paddleboarding; matching that of 2019/20.

Youth Programme

Given previous feedback about the re-formatted programme implemented during COVID and with uncertainty remaining a decision was made to retain a half-day model for the school holiday programme. 507 Young People engaged with the holiday programmes and a further 402 attendances of the weekly youth club.

TRUSTEES/ DIRECTORS

Trustees who served during the year to 31[st] March 2022 were:

Martin Young Chair & ExCo Member, Representative for Individual Members - re-appointed 9[th] November 2021 Susan Stollery ExCo Chair, Co-Opted Trustee - re-appointed 9[th] November 2021 Andrew Delaney ExCo Member, Co-Opted Trustee - re-appointed 9[th] November 2021 Mike Barraclough Representative for ELMV - appointed 26[th] April 1995 - resigned 17[th] February 2022 Margaret Phillips Representative for AICVC - appointed 21[st] June 2010 David Chesterton Co-Opted Trustee - re-appointed 9[th] November 2020 Kenneth Sorensen Representative for Individual Members - re-appointed 9[th] November 2020

The Articles of Association specify fourteen places on the board, eight vacancies existed at 31[st] March 2022

Centre Director: Benjamin Davis (Director of Trading Company only, ExCo Member) Secretary: Catherine Blake

Charity Registration: 801049 Trust Company Registration: 02317321 Trading Company Registration: 02319971 Registered Office: 235a Westferry Road, Millwall Dock, Isle of Dogs, London, E14 3QS Auditors: SKS Audit LLP, 3 Sheen Road, Richmond Upon Thames, TW9 1AD Bankers: The Co-operative Bank , Olympic House, 6 Olympic Court, Montford Street, Salford, M5 2QP

Youth volunteers and training

The youth volunteering programme has bounced back with vengeance, 27 young people assisted across a range of activities. The season culminated in the running of a Dinghy Instructor course in October for 4 volunteers and a further 3 completing their Windsurf Instructor course in a very cold February.

Equipment and premises

Funding opportunities for equipment were scarce during the year, much of the landscape was related to COVID recovery, thus a programme of increased repairs and maintenance was implemented, we remain well equipped to proceed into the next season.

We are grateful for all our funders, staff, volunteers, users and Docklands Sailing Centre Limited for making this another successful, though challenging, year.

Constitution and accounting changes

As we look forwards to 2022/23 the trustees are proposing amendments to the constitution in order to bring it up to date with the Charity Commissions model Articles of Association.

The Trustees further propose amending both the trust and trading companies accounting years to align with the educational sector; this will allow the statements of financial activity and cashflow to reflect the seasonality of activity and enable more staff resources to be applied to the financial year end, budget setting and auditing processes during the quieter winter period.

PUBLIC BENEFIT STATEMENT

In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity (PD2). The achievements and activities above demonstrate the public benefit arising through the Charity’s activities.

OUR USERS & FUNDERS

Acumen Alimak

Back Up Trust Ballymore Bank Of America Barclays Berkeley Homes Brenbar Electrics Broadbean Bruce Wake Fondation Build Africa BUPA Canal & River Trust Canary Wharf College Canary Wharf Contractors Canon Barnett Primary Capco Caritas Recruitment CASCAID Chickenshed Citi City Of London School Clifford Chance Close Brothers Commodore Kitchens Credit Suisse Culloden Primary Danson Watersports DHL DLA Piper

EECF ELBA E.London Home Education Expanded Focus Goldman Sachs GOSH Harry Gosling Primary Hitherfield Primary HSBC Hubbub Foundation ING Bank ISS LBTH London Marathon Events London Youth Mace Developments Markit Met Police MIDIS Monega Primary School Moody's Morgan Sindall Morgan Stanley New Atlas Wharf Newington Green School NHS Blood & Transplant Northern and Shell Northern Trust Norton Rose

Nuffield Health

Old Ford Primary School One Housing PBS PKF Littlejohn Pointers School Questback Reeds School River House School Royal Yachting Association Seven Mills Sport England St George City St James the Great Primary St Johns Primary Mary Magdalene Academy Star Primary School SV Health investors Teach First Technology Transformation Teens and Toddlers Tesco Ground Work The Space Theatre Tower Project Turner Swim Union Maritime University College London Warwick Estates Wilmington Grammer Zoopla

ACTIVITIES REPORT

The year has not been without its challenges, but following the rollercoaster year that was 2020, it was great to enter the next with a measure of normality returning.

It was a pleasure to welcome back so many of the longstanding schools and corporate groups, some of which have been attending the Centre for over fifteen years. Whilst not back to pre-pandemic levels, the confidence they have in our ability to ensure customer safety is a testament to the dedication of the staff in adapting to the new-normal.

In 2020 we made the decision to cancel the Adult Course programme for that season. It was a difficult call to make at the time, but I’m delighted with the way our users stuck by us. Upon opening the course programme in April 2021 the bookings came flooding in and every course was fully booked within a month. It was a shame that so many people were unable to get a space on a course, especially after waiting for up-to a year, but there will be future opportunities so all is not lost.

At the close of the year the world was rocked by the escalating situation in Ukraine, it remains to be seen how that will pan out but we have already funded membership and activities for a number of citizens fleeing the crisis. We stand by to help in any way we can as we move forwards.

Dr Mike Barraclough MBE

“He shared a vision for a Docklands Sailing & Watersports Centre and worked tirelessly to make it a reality”

This year we saw the departure of two of probably the most influential people in the Centre’s history.

Dr Mike Barraclough MBE had been a trustee of the Charity for twenty seven years, as the representative for the East London Marine Venture, but his involvement goes all the way back to its founding. It was Mike that pressed for the creation of a string of accessible watersports facilities including Surrey Docks, Shadwell Basin, the Royal Docks. Our very building owes its design to the efforts of Mike in persuading the LDDC to reach out to external architect’s in a competitive engagement process rather than keep it in house. Mike’s dedication and passion will be sorely missed but he remains a cornerstone to all that we do.

In recognition of his tireless efforts, the Trustee’s appointed him as Honorary Patron at an event in November 2021

Micheal Harrigan had been at the Centre since 1995, he had filled a variety of roles over his time before settling down as the boatwright in the early 2000’s. Mick was the go-to person whenever there was a boat to be fixed, an issue to resolve or a problem to be solved. As a former BSAC diving Instructor, RYA Advanced Powerboat Instructor, RYA Dinghy Instructor, Dragon Boat Helm, Boat Master for the Thames and Medway and Teacher for London Nautical School. He had such a wealth of knowledge that he was always willing to share. His skill and dedication will be impossible to fully replace but we are grateful for everything he has taught us over the years and wish him well in his retirement.

Finally, I couldn’t sign off without thanking all the users, staff, and volunteers. Without whom we wouldn’t have recovered as we did following the COVID-19 pandemic.

Benjamin Davis Centre Director

for corporates

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• dragon-boat racing • corporate events • team building • meeting rooms

GOVERNANCE AND POLICIES

GOVERNING DOCUMENT

Docklands Sailing Centre Trust is registered as a company limited by guarantee and not having a capital divided by shares.

The company was incorporated on 15th November 1988 and is a registered charity constituted as a limited company under the Memorandum and Articles of Association. The charity registration number is 801049 and the company registration number is 2317321.

APPOINTMENT OF TRUSTEES

As set out in the Articles of Association, the Chair of the Trustees is nominated by Docklands Sailing Centre Trust. The Executive Committee of Trustees has the power to appoint additional Trustees as it considers fit to do so.

TRUSTEE INDUCTION AND TRAINING

The Trustees maintain a good working knowledge of charity and company law and best practise through their professional and business interests. New Trustees are given copies of the Memorandum and Articles of Association.

ORGANISATION

meet regularly to manage its affairs. The Executive Committee comprises members from a variety of backgrounds, local knowledge and professional qualification. The daily operations are the responsibility of the Centre Director, who reports to the Board of Trustees.

RISK MANAGEMENT

The Management Committee has conducted a review of the major risk to which the Charity is exposed. A risk register has been established and is updated at least annually. Where appropriate, systems or procedures have been established to mitigate the risks the Charity faces.

MEMBERS OF THE MANAGEMENT COMMITTEE

Members of the Management Committee, who are directors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 2.

RELATED PARTIES

The Trustees have no beneficial interest in the company other than as members. All the Trustees are also the directors of Docklands Sailing Centre Limited.

The company is organised so that the Directors and Trustees

FINANCIAL REVIEW

The Group reported a deficit for the year of £88,360 (2021 – surplus of £83,979), positive unrestricted reserves of £42,759 (2021 - £131,871) and total reserves of £134,751 (2021 - £220,231).

The trading subsidiary suffered losses in the year due to limited trading because of the pandemic. Therefore, the trading company made £Nil gift aid donation to the charity compared to £Nil made last year.

Overall the Trustees consider that the charity has a stable financial base going forward.

PRINCIPAL FUNDING SOURCE

The usual main funding sources for the charity are membership income, income from water activities and events and income from the trading subsidiary.

RESERVES POLICY

The Trustees consider it prudent to maintain an adequate balance of unrestricted reserves to cover the Charity’s contractual commitments and provide a sound base for the future. Ideally, this should be equivalent to a minimum level of 2 months of the annual budget.

As at 31st March 2022, there are unrestricted funds not invested in tangible fixed assets held by the group of (£10,939) (2021 – £79,478). The post-COVID landscape has been incredibly challenging, resulting in the charity having negative unrestricted funds at year-end. The Charity has made several adjustments in response to this; reducing headcount, new activity offerings, increasing outreach etc. Overall, with the events and activities pre-booked for the coming year, the Trustees consider this a oneoff occurrence led by external and unpredictable factors; and that the charity has a sound and stable future going forward.

INVESTMENT POWERS AND POLICY

Under the Memorandum and Articles of Association, the Charity has the power to invest in any way the Trustees wish. The policy of the Trustees is to invest any surplus funds on bank deposit

FUTURE ACTIVITIES

The DSC Trust will continue to enable the provision of sailing and water sport at the Docklands Sailing & Watersports Centre and take steps to ensure the impact of neighbouring development is, so far as possible, not detrimental to sailing activity. In addition we will renew the following projects:

[Planned maintenance programme ] (premises and equipment)
[Increase in fund-raising capacity ]
[Establishment of forward plan for ] possible slipway access to river.

PAY POLICY FOR SENIOR STAFF

The trustees meet annually to review the pay policy for senior staff by reference to the performance of the individual concerned and the market rate for the individual’s job description.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees (who are also directors of Docklands Sailing Centre Trust for the purposes of company law) are responsible for preparing the preparing the Annual Report and the financial statements in accordance with applicable law and regulation.

Company and Charity law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its financial activities for that year. In preparing those accounts, the Trustees are required to:

[select suitable accounting policies ] and apply them consistently;
[make judgements and estimates that ]
are reasonable and prudent;
[state whether applicable accounting ] standards have been followed, subject to any material departures disclosed and explained in the accounts;
[prepare the financial statements on a ] going concern basis unless it is inappropriate to presume that the charitable company will continue in

operation.

A Centre for Everyone

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• no membership required • a centre not a club • come in and find out more

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the Charity and the financial information included on the Charity’s website in accordance with legislation in the United Kingdom governing the

preparation and dissemination of financial statements.

STATEMENT OF DISCLOSURE TO AUDITOR

So far as the Trustees are aware, there is no relevant audit information of which the company’s auditors are unaware. Additionally, the Trustees have taken all the necessary steps that we ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the Charity’s auditors are aware of that information.

AUDITORS

A resolution was proposed and agreed at the Annual General Meeting that

SKS Audit LLP be re-appointed as auditors of the Charity for the ensuing year.

The report of the Trustees has been prepared taking advantage of the small companies’ exemption of section 415A of the Companies Act 2006.

This report was approved by the Board of Trustees on 14th of March 2023 and signed on its behalf, by:

Martin Young Chair Of Trustees

FOR young people

youth club
• school holiday sessions
• youth volunteering
• disability watersports
• schools and groups 7

AUDITOR’S REPORT

OPINION

We have audited the financial statements of Docklands Sailing Centre Trust for the year ended 31st March 2021, which comprise the Consolidated Statement of Financial Activities (Summary Income and Expenditure Account), Statement of Financial Activities (Summary Income and Expenditure Account), the Consolidated Balance Sheet, the Statement of Cash Flows and Consolidated Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the charitable group and company’s affairs as at 31st March 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

BASIS FOR OPINION

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

CONCLUSIONS RELATING TO GOING CONCERN

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

OTHER INFORMATION

The trustees are responsible for the other information. The other information comprises the information in the Report of the Trustees and the Statement of Trustees’ Responsibilities, but does not include the financial statements and our Report

of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

OPINIONS ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006

In our opinion, based on the work undertaken in the course of the audit:

The information given in the trustees’ report for the financial year for which the financial statements are prepared is consistent with the financial statements: and
• The trustees’ report has been prepared in accordance with applicable legal requirements.

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us;
the financial statements are not in agreement with the accounting records and returns;
certain disclosures of trustees’ remuneration specified by law are not made;
we have not received all the information and explanations we require for our audit;
the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption in preparing the Directors’ and Trustees’ Report.

RESPONSIBILITIES OF TRUSTEES

As explained more fully in the trustees’ responsibilities statements set out on page 6 and 7, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements

that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of noncompliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We discussed with the Directors the policies and procedures in place regarding compliance with laws and regulations. We discussed amongst the audit team the identified laws and regulations, and remained alert to any indications of non-compliance.

of bias by the directors that represented a risk of material misstatement due to fraud.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

USE OF OUR REPORT

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

JAMES FOSKETT (Senior Statutory Auditor) 14th of March 2023

for and on behalf of

SKS Audit LLP, 3 Sheen Road, Richmond upon Thames, TW9 1AD

During the audit we focussed on laws and regulations which could reasonably be expected to give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006, UK tax legislation, Charity Act 2011 and SORP 2019. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management.

Our procedures in relation to fraud included but were not limited to: inquires of management whether they have any knowledge of any actual, suspected or alleged fraud, and discussions amongst the audit team regarding risk of fraud such as opportunities for fraudulent manipulation of financial statements. We determined that the principal risks related to posting manual journal entries to manipulate financial performance and management bias through judgements in accounting estimates. We also addressed the risk of management override of internal controls, including testing journals and appropriateness of other entries in the nominal ledger; reviewing transactions around the end of the reporting period; and evaluating whether there was evidence

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

(INCLUDING CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31ST MARCH 2022

Notes	Unrestricted Funds	Restricted Funds	2022	2021
Income Grants, donations and legacies 2 Income from charitable activities: Sailing and water sports activities Membership and course fees Income from other trading activities: Commercial trading operations 4 Facility and equipment hire Other income Total income Expenditure Cost of raising funds: Commercial trading operations 5 Cost of raising funds - Charity 5 Expenditure on charitable activities: Operation of a sailing centre 5 Total expenditure Net income/(expenditure) and net movement in funds for the year *Reconciliation of funds* Total funds, brought forward Total funds, carried forward
	£ 26,567	£ 850	£ 27,417	£ 287,129

	£ 144,355 £ 116,803	£ 0 £ 0	£ 144,355 £ 116,803	£ 151,002 £ 55,490

	£ 149,868 £ 29,193 £ 10,573 £ 477,359	£ 0 £ 0 £ 0 £ 850	£ 149,868 £ 29,193 £ 10,573 £ 478,209	£ 17,137 £ 2,814 £ 2,701 £ 516,273


	£ 191,569 £ 0	£ 0 £ 0	£ 191,569 £ 0	£ 68,473 £ 10,630

	£ 364,797 £ 556,366 £ (79,007)	£ 10,203 £ 10,203 £ (9,353)	£ 375,000 £ 566,569 £ (88,360)	£ 353,191 £ 432,294 £ 83,979

	£ 121,766 £ 42,759	£ 98,465 £ 89,112	£ 220,231 £ 131,871	£ 136,252 £ 220,231

The Statement of Financial Activities includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuing activities.

The notes on pages 14 to 23 form part of these accounts.

STATEMENT OF FINANCIAL ACTIVITIES

(INCLUDING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31ST MARCH 2022

Notes	Unrestricted Funds	Restricted Funds	2022	2021
Income Grants, donations and legacies 3 Income from charitable activities: Sailing and water sports activities Membership and course fees Income from other trading activities: Facility and equipment hire Other income Total income Expenditure Cost of raising funds - Charity 7 Expenditure on charitable activities: Operation of a sailing centre 7 Total expenditure Net income/(expenditure) and net movement in funds for the year *Reconciliation of funds* Total funds, brought forward Total funds, carried forward
	£ 26,567	£ 850	£ 27,417	£ 246,510

	£ 144,355 £ 116,803	£ 0 £ 0	£ 144,355 £ 116,803	£ 151,002 £ 55,490

	£ 29,193 £ 6,566 £ 323,484	£ 0 £ 0 £ 850	£ 29,193 £ 6,566 £ 324,334	£ 2,814 £ 2,700 £ 458,516

	£ 0	£ 0	£ 0	£ 10,630

	£ 359,787 £ 359,787 £ (36,303)	£ 10,203 £ 10,203 £ (9,353)	£ 369,990 £ 369,990 £ (45,656)	£ 353,191 £ 363,821 £ 94,695

	£ 102,882 £ 66,579	£ 98,465 £ 89,112	£ 201,347 £ 155,691	£ 106,652 £ 201,347

The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 14 to 23 form part of these accounts.

CONSOLIDATED BALANCE SHEET

AS AT 31ST MARCH 2022

S AT 31ST MARCH 2022
Notes	Group 2022	Group 2021	Charity 2022	Charity 2021
Fixed Assets Tangible assets 12 Investments 13 Total Fixed Assets Current assets Stock 14 Debitors 15 Cash at bank and in hand Total Current Assets Liabilities Creditors falling due within one year 16 Net Current Assets / (Liabilities) Total Assets Less Current liabilities Creditors Amounts falling due after more than one year 17 Net Assets
	£ 128,010 £ 0 £ 128,010	£ 126,801 £ 0 £ 126,801	£ 114,223 £ 2 £ 114,225	£ 112,242 £ 2 £ 112,244

	£ 4,170 £ 5,781 £ 106,331 £ 116,282	£ 3,250 £ 11,807 £ 189,625 £ 204,682	£ 0 £ 2,958 £ 81,722 £ 84,680	£ 0 £ 9,420 £ 119,691 £ 129,111

	£ (72,758) £ 43,524 £ 171,534 £ (39,663) £ 131,871	£ (68,360) £ 136,322 £ 263,123 £ (42,892) £ 220,231	£ (43,214) £ 41,466 £ 155,691 £ 0 £ 155,691	£ (40,008) £ 89,103 £ 201,347 £ 0 £ 201,347

The funds of the Charity Unrestricted funds 18 Restricted funds 18 Total Charity funds
	£ 42,759 £ 89,112 £ 131,871	£ 121,766 £ 98,465 £ 220,231	£ 66,579 £ 89,112 £ 155,691	£ 102,882 £ 98,465 £ 201,347

The Trustees have prepared group accounts in accordance with Section 398 of the Companies Act 2006 and Section 138 of the Charities Act 2011. These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.

These accounts were approved by the Board of Directors and Trustees on 14th of March 2023 and signed on its behalf by:

Martin Young Chair Of Trustees

Company Number: 02317321

The notes on pages 14 to 23 form part of these accounts.

STATEMENT OF CASH FLOWS AND CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31ST MARCH 2022

OR THE YEAR ENDED 31ST MARCH 2022
	Group 2022 £ (58,371)	Group 2021 £ 73,837	Charity 2022 £ (16,536)	Charity 2021 £ 88,408
Net cash generated/(used in) operating activities

Cashfows from investing activities Purchase of tangible fixed assets Cash provided by / (used in) investing activities
	£ (24,108) £ (24,108)	£ (539) £ (539)	£ (21,433) £ (21,433)	£ 0
				£ 0

Cashfows from fnancing activities Bank Loan Repayment of Bank loan Cash provided by / (used in) fnancing activities
	£ 0 £ (814) £ (814)	£ 50,000 £ 0 £ 50,000	£ 0 £ 0 £ 0	£ 0 £ 0
				£ 0

Change in cash & cash equivalents in the year Cash & cash equivalents at the beginning of the year Total cash & cash equivalents at the end of the year	£ (83,293) £ 189,624 £ 106,331	£ 123,298 £ 66,326 £ 189,624	£ (37,969) £ 119,691 £ 81,722
				£ 88,408
				£ 31,283
				£ 119,691

Reconciliation of net movement in funds to net cashflow from operating activities:

	Group 2022 £ (88,360) £ 22,899 £ (920) £ 6,026 £ 1,983 £ (58,371)	Group 2021 £ 83,978 £ 21,638 £ 1,897 £ (1,630) £ (32,046) £ 73,837	Charity 2022 £ (42,776) £ 19,452 £ 0 £ 6,462 £ 3,206 £ (13,656)	Charity 2021 £ 94,695 £ 18,884 £ 0 £ (4,035) £ (21,136)
Net movement in funds Add back depreciation Decrease/(increase) in stock Decrease/(increase) in debtors Increase/(decrease) in creditors Cash provided by / (used in) operating activities
				£ 88,408

The notes on pages 14 to 23 form part of these accounts.

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31ST MARCH 2021

1. ACCOUNTING POLICIES

1.1. Basis of preparation of accounts

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) – (Charity SORP (FRS 102)), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), Charities Act 2011 and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

Docklands Sailing Centre Trust meets the definition of a public benefit entity under FRS 102.

1.2. Preparation of accounts on a going concern basis

The Charity’s Financial Statements show a group deficit for the year of £88,360 (2021 - surplus £83,979) and free reserves of £42,759 (2021 – £121,766).

The trustees believe that the reduction in income suffered in the year will recover in the coming years now that the covid pandemic restrictions have been lifted. Trustees will continue to monitor and ensure spending to be done in line with income in order to maintain sufficient reserves to cover the working capital of the group.

Whilst the income has fallen in the past two years and there was an increase in deficits which had a negative impact on the reserves position of the group. The review of future cashflows supported by the increase in volume of activities suggest that the trust would be earning more Income in future as the restrictions have now been lifted.

Based on the information above the Trustees have a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future and will remain in surplus in future periods. Therefore, the trustees have adopted the going concern basis in preparing these accounts.

1.3. Group financial statements

The group financial statements consolidate the results of Docklands Sailing Centre Trust (the ‘Charity’) and its wholly owned subsidiary Docklands Sailing Centre Limited. All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

1.4. Income

Income is recognised when the Charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and amount can be measured reliably.

Income received by way of grants, donations and legacies are included in full in the Statement of Financial Activities when received, unless they relate to a specified future period, in which case they are deferred.
Income from charitable activities received by way of revenue grants and donations are credited to restricted incoming resources on the earlier date of when they are received or when they are receivable, unless they relate to a specified future period, in which case they are deferred.
Grants, donations and legacies of general nature which are not conditional on delivering certain levels of service are included as part of Grants, Donations and Legacies as shown under note 2 and 3.
Membership fees are credited to incoming resources in the period to which they relate.
Facility hire income is recognised as earned (that is, as the related goods or services are provided)
Investment income is included when receivable.
Income from activities includes income recognised as earned (as the related goods and services are provided) under contract. Course fees received in advance for the subsequent year are recognised as deferred income until the following year.

1.5. Volunteers and donated services and facilities

Donated professional services and donated facilities are recognised as income when the Charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the Charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognised and refers to the trustees’ annual report for

more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the Charity which is the amount the Charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

1.6. Expenditure recognition and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is

probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

(a) Costs of generating funds are those cost incurred in attracting voluntary income, running a bar and those incurred in other trading activities that raise funds.
(b) Expenditure on charitable activities include expenditure associated with the main objectives of the Charity and include both directs costs and their associated support costs.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

1.7. Allocation of support costs

Support costs are those functions that assist the work of the Charity but do not directly undertake charitable activities. Support costs include back office costs, finance and administration personnel, payroll and governance costs which support the Charities programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The basis on which support costs have been allocated are set out in note 6 and 8. 1.8. Funds structure

The general fund comprises those monies, which may be used toward meeting the charitable objectives of the company at the discretion of the Management Board.

The restricted funds are monies raised for, and their use restricted to, a specific purpose or donations subject to donor-imposed conditions.

1.9. Pension costs

The Charity operates a defined contribution pension scheme on behalf of its employees. Contributions are charged to the Statement of Financial Activities in the period in which they are payable. The assets of the scheme are held separately from those of the Charity in an independently administered fund.

1.10. Stock

1.11.

Stock is shown at the lower of cost and net realisable value. Stock consists of bar purchases. Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Individual fixed assets costing £500 or more are capitalised at cost.

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Asset Category Annual Rate Land & building - Over 99 years Plant & machinery - 20% on the reducing balance basis Motor vehicle - 20% on the reducing balance basis Fixtures, fittings and equipment - 25% on the reducing balance basis

1.12. Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.13. Cash at bank and in hand

Cash at bank and in hand includes cash deposits.

1.14. Creditors and provisions

Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

1.15. Financial instruments

The Trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.16. Operating leases

The Charity classifies the lease of property and photocopier as operating leases. The rentals are charged to the Statement of Financial Activities on a straight-line basis over the lease duration. No assets are held under hire purchase agreements.

1.17. Judgement and key sources of estimation uncertainty

In the application of the Charity’s accounting policies, the Charity is required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underling assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2. GRANTS DONATIONS AND LEGACIES - GROUP

	Unrestricted £ 0 £ 0 £ 0 £ 16,000 £ 9,349 £ 0 £ 0 £ 0 £ 1,218 £ 0	Group Restricted 2022 £ 0 £ 0 £ 0 £ 0 £ 0 £ 0 £ 0 £ 16,000 £ 0 £ 9,349 £ 0 £ 0 £ 0 £ 0 £ 850 £ 850 £ 0 £ 1,218 £ 0 £ 0 £ 850 £ 27,417	Group Restricted 2022 £ 0 £ 0 £ 0 £ 0 £ 0 £ 0 £ 0 £ 16,000 £ 0 £ 9,349 £ 0 £ 0 £ 0 £ 0 £ 850 £ 850 £ 0 £ 1,218 £ 0 £ 0 £ 850 £ 27,417	2021 £ 12,000 £ 3,166 £ 59,702 £ 42,222 £ 147,664 £ 937 £ 10,450 £ 500 £ 8,165 £ 2,323

Edward Gostling Foundation The Co-op Local Community Fund The National Lottery Community Fund London Borough of Tower Hamlets Coronavirus Job Retention Scheme Bounce Back Loan Grant RYA Foundation Jack Petchey Foundation Other Donations <£1,000 Mace Developments - donation in kind
	£ 26,567	£ 850	£ 27,417	£ 287,129

Of the grants, donations and legacies income in 2021 totalling £287,129, £12,950 was attributed to restricted funds and £274,179 to unrestricted funds.

3. GRANTS, DONATIONS AND LEGACIES - CHARITY

	Unrestricted £ 0 £ 0 £ 0 £ 16,000 £ 9,349 £ 0 £ 0 £ 1,218 £ 0	Charity Restricted 2022 £ 0 £ 0 £ 0 £ 0 £ 0 £ 0 £ 0 £ 16,000 £ 0 £ 9,349 £ 0 £ 0 £ 850 £ 850 £ 0 £ 1,218 £ 0 £ 0 £ 850 £ 27,417	Charity Restricted 2022 £ 0 £ 0 £ 0 £ 0 £ 0 £ 0 £ 0 £ 16,000 £ 0 £ 9,349 £ 0 £ 0 £ 850 £ 850 £ 0 £ 1,218 £ 0 £ 0 £ 850 £ 27,417

Edward Gostling Foundation The Co-op Local Community Fund The National Lottery Community Fund London Borough of Tower Hamlets Coronavirus Job Retention Scheme RYA Foundation Jack Petchey Foundation Other Donations <£1,000 Mace Developments - donation in kind
	£ 26,567	£ 850	£ 27,417

Of the grants, donations and legacies income in 2021 totalling £246,510, £12,950 was attributed to restricted funds and £233,560 to unrestricted funds.

4. NET INCOME FROM TRADING ACTIVITIES OF SUBSIDIARY

The wholly-owned trading subsidiary, Docklands Sailing Centre Limited, which is registered in England and Wales, pays all but a small proportion of its profits to the Charity by gift aid. No gift was given to the Charity due to losses suffered in the year. The principal activity of the subsidiary company is that of the management of bar and catering facilities of the Docklands Sailing and Water Centre.

The charity owns the entire issued share capital of 2 Ordinary Shares of £1 each. Audited accounts are filed with the Registrar of Companies. A summary of the trading results for the year ended 31st March 2022 is shown below:

SUMMARY PROFIT AND LOSS ACCOUNT: Turnover Other Income Cost of sales and administration costs Net loss	2022 £ 149,868 £ 4,005 £ (196,577)	2021 £ 17,137 £ 40,619 £ (68,473)
	£ (42,704)	£ (10,717)
	£ (42,704)	£ (10,717)
Retained in subsidiary The assets and liabilities of the subsidiary were: Fixed assets Current assets Current liabilities Long term liabilities Total net assets/(liabilities

	£ 13,787 £ 50,540 £ (48,485) £ (39,663)	£ 14,559 £ 90,756 £ (43,540) £ (42,892)
	£ (23,821)	£ 18,883

Aggregate share capital and reserves	£ (23,821)	£ 18,883

5. ANALYSIS OF EXPENDITURE – GROUP

	Commercial trading operation £ 80,542 £ 0 £ 46,309 £ 0 £ 1,545 £ 7,928 £ 6,430 £ 11,149 £ 11,726 £ 370 £ 3,447 £ 22,123 £ 0	Raising Funds £ 0 £ 0 £ 0 £ 0 £ 0 £ 0 £ 0 £ 0 £ 0 £ 0 £ 0 £ 0 £ 0	Sailing and Watersports £ 208,710 £ 0 £ 7,623 £ 0 £ 1,107 £ 12,114 £ 45,598 £ 7,674 £ 13,856 £ 343 £ 19,452 £ 50,033 £ 8,490
Salaries and staff costs Subcontractor costs Purchases and consumables Training Traveling and motor expenses Rent and Rates Repairs and maintenance Light and heat Cleaning Advertising Depreciation Support costs (Note 6) Governance costs (Note 6)
	£ 191,569	£ 0	£ 375,000

Of the £566,569 expenditure in 2022 (2021 - £432,294), £556,366 was charged to unrestricted funds (2021 - £272,187) and £10,203 to restricted funds (2021 - £160,108).

6. ANALYSIS OF SUPPORT AND GOVERNANCE COSTS – GROUP

The Charity initially identifies the costs of its support functions. It then identifies those costs which relate to the governance function. Governance costs and other support costs are apportioned separately between Charity’s two key activity undertaken (see note 5) in the year. All the general support and governance costs have been apportioned to the various charitable activities on the basis of transactions, allocated to each activity.

	Support costs £ 0 £ 0 £ 21,248 £ 1,180 £ 1,893 £ 9,611 £ 1,175 £ 12,589 £ 1,220 £ 23,240 £ 0	2022 £ 0 £ 0 £ 21,248 £ 1,180 £ 1,893 £ 9,611 £ 1,175 £ 12,589 £ 1,220 £ 23,240 £ 8,490	2021 £ 29,255 £ 2,403 £ 20,060 £ 661 £ 1,148 £ 6,755 £ 493 £ 10,145 £ 5,527 £ 2,970 £ 7,450
Finance and administration staff Premise costs Insurance Postage and stationary Telephone Computer costs Hire of equipment Bank charges and interest Legal and professional fees Sundry expenses Audit fees
	£ 72,156	£ 80,646	£ 86,866

7. ANALYSIS OF EXPENDITURE – CHARITY

ANALYSIS OF EXPENDITURE – CHARITY
	Raising Funds £ 0 £ 0 £ 0 £ 0 £ 0 £ 0 £ 0 £ 0 £ 0 £ 0 £ 0 £ 0	Sailing and Watersports £ 208,710 £ 0 £ 7,623 £ 1,107 £ 12,114 £ 45,598 £ 7,674 £ 13,856 £ 343 £ 19,452 £ 50,033 £ 3,480	2022 £ 208,710 £ 0 £ 7,623 £ 1,107 £ 12,114 £ 45,598 £ 7,674 £ 13,856 £ 343 £ 19,452 £ 50,033 £ 3,480	2021 £ 211,664 £ 0 £ 1,160 £ 2,886 £ 16,245 £ 28,160 £ 8,185 £ 102 £ 251 £ 18,884 £ 73,584 £ 2,700
Salaries and staff costs Subcontractor costs Purchases and consumables Traveling and motor expenses Rent and Rates Repairs and maintenance Light and heat Cleaning Advertising Depreciation Support costs (Note 8) Governance costs (Note 8)
	£ 0	£ 369,990	£ 369,990	£ 363,821

Of the £369,990 expenditure in 2022 (2021 - £363,821), £359,787 was charged to unrestricted funds (2021 - £230,749) and £10,203 to restricted funds (2021 - £133,072).

8. ANALYSIS OF SUPPORT AND GOVERNANCE COSTS – CHARITY

The Charity initially identifies the costs of its support functions. It then identifies those costs which relate to the governance function. Governance costs and other support costs are apportioned separately between Charity’s one key activity undertaken (see note 7) in the year. All the general support and governance costs have been apportioned to the various charitable activities on the basis of a proportion of direct costs, allocated to each activity.

	Support costs £ 0 £ 0 £ 10,625 £ 762 £ 1,084 £ 5,992 £ 686 £ 8,730 £ 300 £ 21,854 £ 0	Govenance costs £ 0 £ 0 £ 0 £ 0 £ 0 £ 0 £ 0 £ 0 £ 0 £ 0 £ 3,480	2022 £ 0 £ 0 £ 10,625 £ 762 £ 1,084 £ 5,992 £ 686 £ 8,730 £ 300 £ 21,854 £ 3,480	2021 £ 29,255 £ 2,403 £ 20,060 £ 307 £ 584 £ 4,427 £ 493 £ 8,399 £ 4,958 £ 2,698 £ 2,700
Finance and administration staff Premise costs Insurance Postage and stationary Telephone Computer costs Hire of Equiptment Bank charges and interest Legal and professional fees Sundry expenses Audit fees
	£ 50,033	£ 3,480	£ 53,513	£ 76,285

9. NET INCOME / (EXPENDITURE) FOR THE YEAR

This is stated after charging:

NET INCOME / (EXPENDITURE) FOR THE YEAR This is stated after charging:
		2022	2021
Depreciation of tangible fixed assets Operating lease payments Auditors’ remuneration	£ £ £	22,899 £ 15,855 £ 8,490 £	21,638 15,855 7,450

10. ANALYSIS OF STAFF COSTS, TRUSTEES REMUNERATION AND EXPENSES, AND COST OF KEY MANAGEMENT PERSONNEL

MANAGEMENT PERSONNEL
Staff Costs Wages and salary National Insurance Pension	2022 £ 265,558 £ 20,807 £ 6,695	2021 £ 261,103 £ 13,678 £ 5,819
	£ 293,060	£ 280,600

No employee received remuneration in excess of £60,000 during the year

None of the Trustees received any remuneration during the year (2020 – £nil) and no expenses were reimbursed (2020 – £nil).

The key management personnel of the charity comprise the Centre Director. The total employee benefits of the key management personnel of the charity were £43,861 (2021 - £40,843). The Centre Manager is also a director of Charity’s subsidiary company, Docklands Sailing Centre Ltd.

11. STAFF NUMBERS

The average monthly number of staff employed, calculated as full time equivalent, during the year was as follows:

	2021 11 1	2020 9 1
Direct charitable and bar trading work Administrative work Total
	12	10

The average monthly number of persons employed by the company during the year was 15 (2021 – 22).

12. TANGIBLE FIXED ASSETS – GROUP AND CHARITY

		GROUP 2022 £ 44,072 £ 71,993 £ 8,902 £ 3,043	GROUP 2022 £ 44,072 £ 71,993 £ 8,902 £ 3,043	2021 £ 45,732 £ 71,877 £ 5,134 £ 4,058
NET BOOK VALUES Land and buildings Plant and machinery Fixtures, fittings and equipment Motor vehicle




			£ 128,010	£ 126,801

MOVEMENTS IN YEAR Cost or valuation Land and buildings Plant and machinery Fixtures, fittings and equipment Motor vehicle
	Opening Balances £ 164,342 £ 348,939 £ 66,248 £ 30,395	Additions £ 0 £ 17,988 £ 6,120 £ 0	Disposals £ 0 £ 0 £ 0 £ 0	Closing Balances £ 164,342 £ 366,927 £ 72,368 £ 30,395
	£ 609,924	£ 24,108	£ 0	£ 634,032
	Opening Balances £ 118,610 £ 277,062 £ 61,114 £ 26,337	Charge For Year £ 1,660 £ 17,873 £ 2,352 £ 1,015	Disposals £ 0 £ 0 £ 0 £ 0	Closing Balances £ 120,270 £ 294,935 £ 63,466 £ 27,352
Depreciation Land and buildings Plant and machinery Fixtures, fittings and equipment Motor vehicle
	£ 483,123	£ 22,899	£ 0	£ 506,022
				2021 £ 45,732 £ 59,345 £ 3,107 £ 4,058

NET BOOK VALUES Land and buildings Plant and machinery Fixtures, fittings and equipment Motor vehicle




			£ 114,223	£ 112,242

MOVEMENTS IN YEAR Cost or valuation Land and buildings Plant and machinery Fixtures, fittings and equipment Motor vehicle
	Opening Balances £ 164,342 £ 275,384 £ 16,540 £ 30,395	Additions £ 0 £ 15,313 £ 6,120 £ 0	Disposals £ 0 £ 0 £ 0 £ 0	Closing Balances £ 164,342 £ 290,697 £ 22,660 £ 30,395
	£ 486,661	£ 21,433	£ 0	£ 508,094
	Opening Balances £ 118,610 £ 216,039 £ 13,433 £ 26,337	Charge For Year £ 1,660 £ 14,932 £ 1,845 £ 1,015	Disposals £ 0 £ 0 £ 0 £ 0	Closing Balances £ 120,270 £ 230,971 £ 15,278 £ 27,352
Depreciation Land and buildings Plant and machinery Fixtures, fittings and equipment Motor vehicle
	£ 374,419	£ 19,452	£ 0	£ 393,871

13. FIXED ASSET INVESTMENTS – GROUP AND CHARITY

	Group 2022 2021 £ 0 £ 0	Group 2022 2021 £ 0 £ 0	Charity 2022 2021 £ 2 £ 2	Charity 2022 2021 £ 2 £ 2

Investment at cost	£ 0	£ 0	£ 2	£ 2

The investment shown above represents the cost of the entire issued share capital of the subsidiary undertaking, Docklands Sailing Centre Limited, which is incorporated in England & Wales. Results of the subsidiary are set out in note 4.

14. STOCK - GROUP AND CHARITY

	Group 2022 2021 £ 4,170 £ 3,250 £ 4,170 £ 3,250 Group 2022 2021 £ 4,781 £ 890 £ 1,000 £ 2,103 £ 0 £ 8,814 £ 5,781 £ 11,807	Group 2022 2021 £ 4,170 £ 3,250 £ 4,170 £ 3,250 Group 2022 2021 £ 4,781 £ 890 £ 1,000 £ 2,103 £ 0 £ 8,814 £ 5,781 £ 11,807	Charity 2022 2021 £ 0 £ 0 £ 0 £ 0 Charity 2022 2021 £ 2,958 £ 606 £ 0 £ 0 £ 0 £ 8,814 £ 2,958 £ 9,420	Charity 2022 2021 £ 0 £ 0 £ 0 £ 0 Charity 2022 2021 £ 2,958 £ 606 £ 0 £ 0 £ 0 £ 8,814 £ 2,958 £ 9,420

Bar Stock
	£ 4,170	£ 3,250	£ 0	£ 0

DEBTORS - GROUP AND CHARITY


Trade debtors Other debtors Prepayments
	£ 5,781	£ 11,807	£ 2,958	£ 9,420

15. DEBTORS - GROUP AND CHARITY

CREDITORS FALLING DUE WITHIN ONE YEAR - GROUP AND CHARITY

16.

	Group 2022 2021 £ 15,713 £ 20,498 £ 17,157 £ 15,654 £ 9,523 £ 7,108 £ 0 £ 0 £ 19,688 £ 16,126 £ 624 £ 575 £ 10,053 £ 8,399 £ 72,758 £ 68,360	Group 2022 2021 £ 15,713 £ 20,498 £ 17,157 £ 15,654 £ 9,523 £ 7,108 £ 0 £ 0 £ 19,688 £ 16,126 £ 624 £ 575 £ 10,053 £ 8,399 £ 72,758 £ 68,360	Charity 2022 2021 £ 3,604 £ 621 £ 4,761 £ 4,424 £ 0 £ 0 £ 13,074 £ 15,188 £ 19,688 £ 16,126 £ (793) £ 0 £ 2,880 £ 3,649 £ 43,214 £ 40,008	Charity 2022 2021 £ 3,604 £ 621 £ 4,761 £ 4,424 £ 0 £ 0 £ 13,074 £ 15,188 £ 19,688 £ 16,126 £ (793) £ 0 £ 2,880 £ 3,649 £ 43,214 £ 40,008

Trade creditors Taxation and social security Bank Loans (Note 17) Amounts due to subsidiary undertaking Deferred income (Note 20) Other Creditors Accruals
	£ 72,758	£ 68,360	£ 43,214	£ 40,008

17. CREDITORS FALLING DUE AFTER MORE THAN ONE YEAR - GROUP AND CHARITY

	Group 2022 2021 £ 39,663 £ 42,892 £ 39,663 £ 42,892	Group 2022 2021 £ 39,663 £ 42,892 £ 39,663 £ 42,892	Charity 2022 2021 £ 0 £ 0 £ 0 £ 0	Charity 2022 2021 £ 0 £ 0 £ 0 £ 0

Bank Loan
	£ 39,663	£ 42,892	£ 0	£ 0

The above consists of a £50,000 Government backed loan at an annual rate of 2.5%, repayable over 60 months.

18. ANALYSIS OF CHARITABLE FUNDS – GROUP AND CHARITY

Restricted funds: GROUP 2021-2022 Disability Watersports Slipway expenses Waterside fixtures and equipment Courses and classes Motor vehicle Building development	Balance as at 01/04/2021 £ 12,950 £ 1,000 £ 36,507 £ 911 £ 4,057 £ 43,040	Income £ 850 £ 0 £ 0 £ 0 £ 0 £ 0	Expenditure £ 0 £ 0 £ 7,301 £ 228 £ 1,014 £ 1,660	Balance as at 31/03/2022 £ 13,800 £ 1,000 £ 29,206 £ 683 £ 3,043 £ 41,380
	£ 98,465	£ 850	£ 10,203	£ 89,112
Unrestricted funds: Coronavirus Job Retention Scheme General Funds	£ 0 £ 121,766	£ 9,349 £ 468,010	£ 9,349 £ 547,017	£ 0 £ 42,759
	£ 220,231	£ 478,209	£ 566,569	£ 131,871
	Balance as at 01/04/2021 £ 12,950 £ 1,000 £ 36,507 £ 911 £ 4,057 £ 43,040	Income £ 850 £ 0 £ 0 £ 0 £ 0 £ 0	Expenditure £ 0 £ 0 £ 7,301 £ 228 £ 1,014 £ 1,660	Balance as at 31/03/2022 £ 13,800 £ 1,000 £ 29,206 £ 683 £ 3,043 £ 41,380
Restricted funds: CHARITY 2021-2022 Disability Watersports Slipway expenses Waterside fixtures and equipment Courses and classes Motor vehicle Building development
	£ 98,465	£ 850	£ 10,203	£ 89,112
Unrestricted funds: Coronavirus Job Retention Scheme General Funds	£ 0 £ 102,882	£ 0 £ 323,484	£ 0 £ 359,787	£ 0 £ 66,579
	£ 201,347	£ 324,334	£ 369,990	£ 155,691
	Balance as at 01/04/2020 £ 0 £ 0 £ 1,000 £ 45,634 £ 1,215 £ 5,410 £ 44,700	Income £ 0 £ 12,950 £ 0 £ 0 £ 0 £ 0 £ 0	Expenditure £ 0 £ 0 £ 0 £ 9,127 £ 304 £ 1,353 £ 1,660	Balance as at 31/03/2021 £ 0 £ 12,950 £ 1,000 £ 36,507 £ 911 £ 4,057 £ 43,040
Restricted funds: GROUP 2020-21 Youth Programme Disability Watersports Slipway expenses Waterside fixtures and equipment Courses and classes Motor vehicle Building development
	£ 97,959	£ 12,950	£ 12,444	£ 98,465
Unrestricted funds: Coronavirus Job Retention Scheme General Funds	£ 0 £ 38,293	£ 147,664 £ 355,658	£ 147,664 £ 272,185	£ 0 £ 121,766
	£ 136,252	£ 516,272	£ 432,293	£ 220,231
	Balance as at 01/04/2020 £ 0 £ 0 £ 1,000 £ 45,634 £ 1,215 £ 5,410 £ 44,700	Income £ 0 £ 12,950 £ 0 £ 0 £ 0 £ 0 £ 0	Expenditure £ 0 £ 0 £ 0 £ 9,127 £ 304 £ 1,353 £ 1,660	Balance as at 31/03/2021 £ 0 £ 12,950 £ 1,000 £ 36,507 £ 911 £ 4,057 £ 43,040
Restricted funds: CHARITY 2020-21 Youth Programme Disability Watersports Slipway expenses Waterside fixtures and equipment Courses and classes Motor vehicle Building development
	£ 97,959	£ 12,950	£ 12,444	£ 98,465
Unrestricted funds: Coronavirus Job Retention Scheme General Funds	£ 0 £ 8,693	£ 107,982 £ 337,584	£ 107,982 £ 243,395	£ 0 £ 102,882
	£ 106,652	£ 458,516	£ 363,821	£ 201,347

18. ANALYSIS OF CHARITABLE FUNDS – GROUP AND CHARITY (continued)

Description, nature and purpose of funds:

General funds:

General fund represents funds available to spend at the discretion of the Trustees after allowing for all the designated funds.

Restricted Funds:

Youth Programme - Funding received towards the staff costs of the youth programs. - Disability Water Sports Funding received towards the costs of the Disability Water Sports programs. Slipway expenses - Funding received towards a new slipway.

Courses and classes - Funding received towards cost of courses and classes run by the Charity.

Waterside fixtures and equipment - Funding towards purchase of boats and a mooring for the pontoon. Balance carried forward represents the un-depreciated cost.

Motor vehicle - Donation received to purchase a motor vehicle. The balance carried forward represents undepreciated cost.

Building development - Funding received towards building development costs. The balance carried forward represents un-depreciated cost.

19. ANALYSIS OF GROUP ASSETS BETWEEN FUNDS – GROUP AND CHARITY

	Unrestricted £ 53,698 £ 0 £ 28,724 £ (39,663)	GROUP Restricted £ 74,312 £ 0 £ 14,800 £ 0	Total £ 128,010 £ 0 £ 43,524 £ (39,663)	Unrestricted £ 39,911 £ 2 £ 26,666 £ 0	CHARITY Restricted £ 74,312 £ 0 £ 14,800 £ 0	Total £ 114,223 £ 2 £ 41,466 £ 0

Tangible fixed assets Investments Net current assets Long term liabilities
	£ 42,758	£ 89,112	£ 131,871	£ 66,579	£ 89,112	£ 155,691

ANALYSIS OF GROUP ASSETS BETWEEN FUNDS – GROUP AND CHARITY – PREVIOUS YEAR

	Unrestricted £ 42,286 £ 0 £ 122,372 £ (42,892)	GROUP Restricted £ 84,515 £ 0 £ 13,950 £ 0	Total £ 126,801 £ 0 £ 136,322 £ (42,892)	Unrestricted £ 27,727 £ 2 £ 75,153 £ 0	CHARITY Restricted £ 84,515 £ 0 £ 13,950 £ 0	Total £ 112,242 £ 2 £ 89,103 £ 0

Tangible fixed assets Investments Net current assets Long term liabilities
	£ 121,766	£ 98,465	£ 220,231	£ 102,882	£ 98,465	£ 201,347

20. DEFERRED INCOME – GROUP AND CHARITY

	GROUP 2022 2021 £ 16,126 £ 25,049 £ (16,126) £ (25,049) £ 19,688 £ 16,126 £ 19,688 £ 16,126	GROUP 2022 2021 £ 16,126 £ 25,049 £ (16,126) £ (25,049) £ 19,688 £ 16,126 £ 19,688 £ 16,126	CHARITY 2022 2021 £ 16,126 £ 25,049 £ (16,126) £ (25,049) £ 19,688 £ 16,126 £ 19,688 £ 16,126	CHARITY 2022 2021 £ 16,126 £ 25,049 £ (16,126) £ (25,049) £ 19,688 £ 16,126 £ 19,688 £ 16,126

Balance brought forward Amount released to income in the year Amount deferred in the year Net cash generated/used in operating activities
	£ 19,688	£ 16,126	£ 19,688	£ 16,126

Deferred income represents membership fees, course fees and events income relating to 2022/23.

21. OPERATING LEASE COMMITMENTS – GROUP AND CHARITY

At 31 March there were the following future minimum lease payments under non-cancellable operating leases:

	GROUP 2022 2021	GROUP 2022 2021	CHARITY 2022 2021	CHARITY 2022 2021

Land and building Not later than one year Later than 1 year not later than 5 years Later than 5 years
	£ 15,854 £ 63,418 £ 1,458,606	£ 15,854 £ 63,418 £ 1,474,460	£ 15,854 £ 63,418 £ 1,458,606	£ 15,854 £ 63,418 £ 1,474,460
	£ 1,537,878	£ 1,553,732	£ 1,537,878	£ 1,553,732

Other Not later than one year Later than 1 year not later than 5 years
	£ 0 £ 0	£ 197 £ 0	£ 0 £ 0	£ 0 £ 0
	£ 0	£ 197	£ 0	£ 0

22. PENSION COSTS

The pension contributions payable by the Charity and its subsidiary amounted to £1,465 (2021 - £5,819). Contributions totalling £NIL (2021 - £575) were due at the year end and are included in creditors.

23. SHARE CAPITAL

The company is limited by guarantee and does not have a share capital divided by shares.

24. RELATED PARTY TRANSACTIONS

No related party transactions took place in the year except the transactions disclosed in note 10.

MEET THE TRUSTEES

Martin Young

Chair

Martin, a barrister in private practice, began his life in Tower Hamlets studying at Queen Mary College in 1977 where he was a law undergraduate finally moving to Cubitt Town in 1987. He served as a local councillor for the former Millwall Ward between 1994 and 2002 and chose to continue active involvement with a number of local voluntary organisations and charities, including Docklands Sailing Centre Trust. Ensuring access to sport and leisure for all in the community at a properly run, well-funded DSWC continues to motivate Martin in his work for the Trust.

Maggie Phillips

Maggie joined the board in 2010 as Representative Trustee for the Association of Island Communities Voluntary Council. Away from the Centre she is also Chair of the St John’s Tenants & Residents’ Association (TRA), Secretary of the Association of Island Communities and a trustee of Mudchute Park & Farm.

Sue Stollery

ExCom Chair

Sue joined the board as a Trustee in 2018. Although n o t a s a i l o r

herself, she had connections with the centre for a number of years as all her children attended the summer Youth Afloat activities. A Limehouse resident for over 30 years, Sue also is a Governor of Cyril Jackson School and a member of the Limehouse Youth ward panel

Mike Baraclough

Mike has lived in the Isle of Dogs, Tower Hamlets, London, where he

has been fully involved in setting up and developing numerous important charitable projects to improve the lives of his fellow citizens. He was instrumental in initiating, fundraising to establish the Centre is 1989 along with Mudchute Park & Farm and Shadwell Basin Outdoor Activity Centre. After a period away from the Trust he joined the board as a Representative Trustee for the East London Marine Venture in 1995.

David Chesterton

Dave has lived in Tower Hamlets since 1974 and is qualified in Social Work and Community & Youth Work. He is a Youth and Family Magistrate (Deputy Chair for London) and a member of the Tower Hamlets & City of London Youth Justice Management Board. He pioneered the creation of Dockland’s Water Sports Centres, including DSWC. He was CEO of a charity accommodating 600 homeless and vulnerable young people in east London. He has served as a local councillor and trustee of many charities.

Eric Sorensen

Eric was CEO of the Docklands D e v e l o p m e n t Corporation, and the Corporation was instrumental in setting up the Sailing Centre. Since then he has worked on programmes to support the regeneration of Thames Gateway. He is a trustee of various local community organisations.

Andrew Delaney

Andrew has been a Trustee of the s a i l i n g c e n t r e since 2018, and is a member of the Executive Committee. He was part of the Canary Wharf College parents’ group that worked with environmental charity Hubbub to bring Plastic Fishing to Millwall Dock, establishing DSWC as the ‘home port’ of Poly-Mer, the country’s first boat constructed entirely of recycled plastic. He is President of A-Team Group, a FinTech publishing company, and member of Crostyx Hockey Club, where he helps run the club’s junior section.

AND THE COMPANY SECRETARY

Catherine Blake

Cat is an active user of the Centre, participating in the adult dinghy racing and endeavouring to master the fine art of windsurfing. Off the water, Cat is a solicitor at an international law firm.

MEET THE CREW

Benjamin Davis

Centre Director

B e n j a m i n h a s been working at DSWC since 2000 he is more of a sailor than anything but can handle himself in a kayak and is not too shabby on a windsurfer either. A qualified RYA Powerboat Instructor and RYA Senior Dinghy Instructor, Benjamin knows his stuff, but unfortunately being the centre manager he does spend the majority of his time in the office, keeping the bigger things behind the scenes running smoothly.

Marianne Troullis

Finance Administrator

Mal has been with the Centre since 2004, so knows it well and has also

seen all the many changes that have happened over the years. Mal keeps herself hidden away upstairs in her own little office while she grinds away at figures and invoices. Mal loves the sun and a tan, so come the summer she is out catching what she can.

Simon Conway

Chief Instructor

Simon works with all the waterside bookings, Youth R a c i n g a n d Funding applications over the year. Simon has a depth of knowledge in all things Sailing both big and small boats. With Racing being his passion he has competed in a vast range of boats including his most loved, the 49er, even racing at the 49er Worlds in Croatia in 2012. He’s also an RYA Power Boat Instructor and Start Windsurf Instructor so you may see him on the water when he’s not inside organising bookings and looking at funding applications.

Amy Duncan Events Coordinator

Amy started in 2014 and took on the role of Events Coordinator in March 2016. If it's anything events you want, Amy is the one you want. Organising weddings, birthdays and dragon boat events, she has got them covered. Despite not being a massive fan of the cold and deep water, in particular, Amy has completed her RYA Dinghy Level 1, tried her hand at windsurfing, kayaking and paddle boarding.

James Hardy Senior Instructor

J a m e s i s o u r Senior Instructor; he is probably the friendly face you

will see the majority of the time outside and on the water. James has been with us since March 2012, and he is very well acquainted with the running of the centre. James is an RYA Intermediate Planing Windsurf Instructor, Windsurf Foiling Instructor, Windsurfing and Dinghy Senior Instructor, British Canoeing Level 2 Coach and RYA Powerboat Instructor.

Courtney Bilbrough Senior Instructor

C o u r t n e y f i r s t joined DSWC at the age of 8, after trying a bit of everything she decided that sailing was the sport and stuck with it. She then went on to race RS Feva's and moved onto the National and International circuit representing team GBR in the 29er, coming 5th at ISAF Youth Worlds 2016. After attending university to live out the Indiana Jones life, Courtney moved on to sail the Nacra 17 and is now hoping to progress into the offshore world while coaching the next generation of racing legends

Ethan Tran Watersports Instructor

Buoy Golden Retriever

Ethan first joined us in summer 2010 at 8 Buoy has learnt to swim, he still has a lot years old and actually went sailing for his to learn about retrieving things and rarely first session, not quite taking to the whole comes back when called. We all love him sailing thing, kayaking quickly became his though and so do the kids/big kids/adults! sport. He excelled pretty fast and became He loves a stroke, cuddle or just a pat on a very handy paddler at a young age, the head but his favourite thing is plastic, particularly enjoying the white water side he will find even the tiniest piece and of things. He then stayed with us volunteering and achieved his guard it with his life! British Canoeing Level 1 Coach, currently he’s working towards He brightens up the day of everyone who meets him and we becoming a Dinghy Instructor. wouldn’t know what to do without him.

Buoy has learnt to swim, he still has a lot to learn about retrieving things and rarely comes back when called. We all love him though and so do the kids/big kids/adults! He loves a stroke, cuddle or just a pat on the head but his favourite thing is plastic, he will find even the tiniest piece and

NOT FORGETTING …

the Maintenance Team, without whom we wouldn’t have working boats: Mick Harrigan & James Langridge

the Bar & Catering Team, who keep the customer fed and watered: Connor Newman, Danielle Jones, Henry Ramtahal, Jordan-Marie Mulligan, Kristin Newman, Lauren Goodwin, Lois West, Naga Dodda, Rebekah Maybin, Stacy Witch, Torren Moore & Venkata Neerukonda the Admin & Reception Team, for keeping the Centre running smoothly: Emma Andersson

the Sessional Instructors, that deliver the sessions whatever the weather: Barney Dix, Danny Mallagh, Demi Evarschi, Harry Ikibiroglu, Iona Dixon, Isabel Reed, Leila Moore, Matthew Mitchell, Nastasia Sadowski, Ross Dixon & Solomon Djelloul

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