OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Docklands Sailing Centre Trust

2024-09-30-accounts

DOCKLANDS SAILING CENTRE TRUST

GROUP DIRECTORS’ AND TRUSTEES’ REPORT AND CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 18 MONTHS PERIOD ENDED 30[th] SEPTEMBER 2024

Company No: 02317321 Charity No: 801049

DOCKLANDS SAILING CENTRE TRUST

REPORT AND ACCOUNTS

C O N T E N T S

STATUTORY INFORMATION

Page
GroupDirectors’ and Trustees’ Report 2– 6
Independent Auditor’s Report
 7– 9
Consolidated Statement of Financial Activities 10
Statement of Financial Activities 11
Balance Sheet and Consolidated Balance Sheet 12
Statement of Cash Flows and Consolidated Statement of Cash Flows 13-14
Consolidated notes to the Accounts
 15– 31

1

DOCKLANDS SAILING CENTRE TRUST

GROUP DIRE CTOR’S AND TRUSTEES ’ REPORT

FOR THE 18 MONTHS PERIOD ENDED 30[th] SEPTEMBER 2024

The trustees are pleased to present their annual directors’ report together with the financial statements of the company and group for the period ended 30[th] September 2024, which are also prepared to meet the requirements for a directors’ report and Companies Act purposes.

The financial statements of the company and the group 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 i s 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. Th e 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. As a result, the trading subsidiary will be making a donation of £162,515 (2023: 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 period.

Achievement and activities

School groups

Despite a reduced number of schools attending, the overall number of students was up on the previous period. 27 schools attended sailing (2023 :11), kayaking and paddleboarding sessions in 2023/24 for a total of 3,752 sessional places.

Youth Programme

The youth programme continues to grow, seeing over 600 young people (2023: 450) on the holiday youth activity weeks, 538 young people on the weekly Youth Clubs. Regular attendees (more than 10 sessions in the period) have increased to 82.

Youth volunteers and training

The volunteer pool saw a slight drop, to 19 people, primarily due to the successful completion of their Instructor course. This period six young people completed their windsurf instructor course and four their dinghy instructors.

Equipment and premises

Funding for equipment was difficult to obtain during the period, but increased repairs and maintenance were continued, and we remain well equipped to proceed into the next season. Progress on the Thames Pier Project has continued. Toward the end of the period under report, a planning application was submitted to LBTH. Work is now underway on developing an implementation plan and timeline.

Constitution and accounting changes

Following period of review and planning, both of the planned changes to the constitution and accounting period were made during this period. The constitution now matches the Charity Commission's model, and the accounting period matches the seasonality of the organisation.

2

DOCKLANDS SAILING CENTRE TRUST

GROUP DIR ECTOR’S AND TRUSTEES ’ REPORT

FOR THE 18 MONTHS PERIOD ENDED 30[th] SEPTEMBER 2024

Public benefit statement

In shaping our objectives for the period 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.

FINANCIAL REVIEW

The Group reported a surplus for the period of £62,650 (2023: £15,451), unrestricted reserves of £115,669 (2023: £48,068) and total reserves of £197,622 (2023: £134,972).

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

Principal funding sources

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

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.

Reserves policy

The Trustees consider it prudent to maintain an adequate balance of unrestricted res erves 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 30[th] September 2024, there are unrestricted funds not invested in tangible fixed assets held by the group are £86,748 (2023: £31,898). The Charity has made several adjustments in response to COVID; 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 one-off occurrence led by external and unpredictable factors; and that the charity has a sound and stable future going forward.

3

DOCKLANDS SAILING CENTRE TRUST

GROUP DIRECTOR ’S AND TR USTEES’ REPORT

FOR THE 18 MONTHS PERIOD ENDED 30[th] SEPTEMBER 2024

FUTURE ACTIVITIES

The DSC Trust will continue to enable the provision of sailing and water sport at the DSC 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:

REFERENCE AND ADMINISTRATIVE DETAILS

Company No: 02317321

Charity No: 801049

Directors/Trustees

Martin Young (Chair) David Morton Hodgson Margaret Rose Phillips Kenneth Eric Sorensen David Chesterton Andrew Delaney Susan Stollery

Secretary: Catherine Blake

– Senior Management Team: Benjamin Davis Centre Manager

Registered Office: 235a Westferry Road, Millwall Dock, Isle of Dogs, London E14 3QS

Auditors: SCB (Accountants) Limited, 31 Sackville Street, Manchester, W1S 4AP

Bankers: The Co-operative Bank , Olympic House, 6 Olympic Court, Montford Street, Salford M5 2QP

4

DOCKLANDS SAILING CENTRE TRUST

GROUP DIRECTOR’S AND TRUSTEES’ REPO RT

FOR THE 18 MONTHS PERIOD ENDED 30[th] SEPTEMBER 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

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 15[th] 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 have 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

The company is organised so that the Directors and Trustees 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 Manager 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.

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.

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 individu al’s job d escription.

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 period and up to the date of this report are set out on page 4.

5

DOCKLANDS SAILING CENTRE TRUST

GROUP DIRECTOR’S AND TR USTEE S’ RE PORT

FOR THE 18 MONTHS PERIOD ENDED 30[th] SEPTEMBER 2024

STATEMENT OF T RUSTEES’ RESPONSIBILITIES

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

Company law requires the trustees to prepare the financial statements of company and the group for each period. Under that law the Directors have elected to prepare the financial statements of the company and the group in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Directors must not approve the financial statements of the company and the group unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of its income and expenditure for that period. In preparing these financial statements of the company and the group, the Directors are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company and the group ’ s transactions and disclose with reasonable accuracy at any time the financial position of the company and group and enable them to ensure that the financial statements of the company and the group comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group 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 group 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 group ’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 group ’s a uditors are aware of that information.

The report of the trustees has been prepared taking advantage of the small compa nies’ exemption o f section 415A of the Companies Act 2006.

APPROVAL

This report was approved by the Board of Trustees and signed on its behalf by:

Martin Young Chair

17/07/2025 Date: ____

6

INDEPENDENT AUDITOR ’S R EPORT TO THE MEMBERS AND TRUSTEES OF

DOCKLANDS SAILING CENTRE TRUST

Opinion

We have audited the financial statements of Docklands Sailing Centre Trust (the ‘ parent company ’ ) and its subsidiary ( ‘ the group ’ ) for the period ended 30[th] September 2024, which comprise the Consolidated Statement of Financial Activities (Summary Income and Expenditure Account), Statement of Financial Activities (Summary Income and Expenditure Account), the Balance Sheet and 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:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those sta ndards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company and 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 Ethic al 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 of company and the group, we have concluded that the trustees ’ use of t he going concern basis of accounting in the preparation of the financial statements of the company and the group 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 company and 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.

7

INDEPE NDENT AUDITOR’S REPORT TO THE MEMBERS OF (Cont/d)

DOCKLANDS SAILING CENTRE TRUST

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the dir ectors’ 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:

Responsibilities of directors

As explained more fully in the directors’ r esponsibilities statements set out on page 6, the directors are responsible for the preparation of the financial statements of the company and the group 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 of the company and the group that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements of the company and the group, the directors are responsible for assessing the group ’s and charitable co mpany’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 and the group 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 audito r’ 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 non-compliance 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 group and the industry in which it operates, and considered the risk of acts by the company and the group 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.

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 of the company and the group disclosures to underlying supporting documentation and enquiries with management.

8

INDEPENDENT A UDITOR’S R EPORT TO THE MEMBERS OF (Cont/d)

DOCKLANDS SAILING CENTRE TRUST

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 of the company and the group. 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 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 Counc il’ s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our audito r’s report.

Use of our report

This report is made solely to the charitable company and the group ’ 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 and group ’ 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.

Jeffrey Bor FCA (Senior Statutory Auditor) for and on behalf of SCB (Accountants) Limited Chartered Accountants Statutory Auditors

31 Sackville Street Manchester M1 3LZ

Date : 22/07/2025

9

DOCKLANDS SAILING CENTRE TRUST

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT)

FOR THE 18 MONTHS PERIOD ENDED 30[th] SEPTEMBER 2024

SUMMARY OF INCOME AND EXPENDITURE ACCOUNT

Unrestricted
Notes
Funds
£
Income
Grants and donations
2
2,009
Income from charitable activities:
Sailing and water sports activities
186,969
Membership and course fees
303,724
Income from other trading activities:
Commercial trading operations
4
719,081
Facility and equipment hire
43,808
Other income
10,233
Total income
1,265,824
Expenditure
Cost of raising funds:
Commercial trading operations
5
556,567
Expenditure on charitable activities:
Operation of a sailing centre
5
641,656
Total expenditure
1,198,223
67,601
Reconciliation of funds
Total funds, brought forward
48,068
Total funds, carried forward
115,669
Net income/(expenditure) and net movement in funds
for the year		 Unrestricted
Notes
Funds
£
Income
Grants and donations
2
2,009
Income from charitable activities:
Sailing and water sports activities
186,969
Membership and course fees
303,724
Income from other trading activities:
Commercial trading operations
4
719,081
Facility and equipment hire
43,808
Other income
10,233
Total income
1,265,824
Expenditure
Cost of raising funds:
Commercial trading operations
5
556,567
Expenditure on charitable activities:
Operation of a sailing centre
5
641,656
Total expenditure
1,198,223
67,601
Reconciliation of funds
Total funds, brought forward
48,068
Total funds, carried forward
115,669
Net income/(expenditure) and net movement in funds
for the year		 Restricted
Funds
2024
2023
(18 months)
(12 months)
£
£
£
8,575
10,584
7,275
-
186,969
112,024
-
303,724
116,713
-
719,081
341,522
-
43,808
46,670
-
10,233
4,627		 Restricted
Funds
2024
2023
(18 months)
(12 months)
£
£
£
8,575
10,584
7,275
-
186,969
112,024
-
303,724
116,713
-
719,081
341,522
-
43,808
46,670
-
10,233
4,627
1,265,824 8,575 1,274,399
628,831
556,567
641,656		 -
13,526		 556,567
298,395
655,182
314,985
1,198,223 13,526 1,211,749
613,380
67,601
48,068		 (4,951)
86,904		 62,650
15,451
134,972
119,521
115,669 81,953 197,622
134,972

The Statement of Financial Activities includes all gains and losses recognised in the period.

All incoming resources and resources expended derive from continuing activities.

The notes on pages 15 to 31 form part of these accounts.

10

DOCKLANDS SAILING CENTRE TRUST

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

FOR THE 18 MONTHS PERIOD ENDED 30[th] SEPTEMBER 2024

Unrestricted
Notes
Funds
£
Income
Grants and donations
3
164,524
Income from charitable activities:
Sailing and water sports activities
186,969
Membership and course fees
303,724
Income from other trading activities:
Facility and equipment hire
43,808
Other income
10,233
Total income
709,258
Expenditure
Expenditure on charitable activities:
Operation of a sailing centre
7
641,656
Total expenditure
641,656
67,602
Reconciliation of funds
Total funds, brought forward
41,111
Total funds, carried forward
108,713
Net income/(expenditure) and net movement in funds
for the year		 Unrestricted
Notes
Funds
£
Income
Grants and donations
3
164,524
Income from charitable activities:
Sailing and water sports activities
186,969
Membership and course fees
303,724
Income from other trading activities:
Facility and equipment hire
43,808
Other income
10,233
Total income
709,258
Expenditure
Expenditure on charitable activities:
Operation of a sailing centre
7
641,656
Total expenditure
641,656
67,602
Reconciliation of funds
Total funds, brought forward
41,111
Total funds, carried forward
108,713
Net income/(expenditure) and net movement in funds
for the year		 Restricted
Funds
£
8,575
-
-
-
-		 2024
2023
(18 months) (12 months)
£
£
173,099
7,275
186,969
112,024
303,724
116,713
43,808
46,670
10,233
4,627		 2024
2023
(18 months) (12 months)
£
£
173,099
7,275
186,969
112,024
303,724
116,713
43,808
46,670
10,233
4,627
709,258 8,575 717,833 287,309
641,656 13,526 655,182 314,985
641,656 13,526 655,182 314,985
67,602
41,111		 (4,951)
86,904		 62,651
128,015		 (27,676)
155,691
108,713 81,953 190,666 128,015

The Statement of Financial Activities includes all gains and losses recognised in the period.

All incoming resources and resources expended derive from continuing activities.

The notes on pages 15 to 31 form part of these accounts.

11

DOCKLANDS SAILING CENTRE TRUST

BALANCE SHEET AND CONSOLIDATED BALANCE SHEET

FOR THE 18 MONTHS PERIOD ENDED 30[th] SEPTEMBER 2024

Notes GROUP GROUP CHARITY CHARITY
2024 2023 2024 2023
30.09.2024 31.03.2023 30.09.2024 31.03.2023
£ £ £ £
Fixed Assets
Tangible assets 12 112,363 115,357 100,601 102,333
Investments 13 - - 2 2
Total Fixed Assets 112,363 115,357 100,603 102,335
Current assets
Stock 14 5,302 4,874 - -
Debtors 15 4,999 1,261 3,742 793
Cash at bank and in hand 208,218 191,917 162,481 162,466
Total Current Assets 218,519 198,052 166,223 163,259
Creditors
Amounts falling due within one year 16 (116,278) (145,129) (76,160) (137,579)
Net Current Assets / (Liabilities) 102,241 52,923 90,063 25,680
Total Assets less Current liabilities 214,604 168,280 190,666 128,015
Creditors
Amounts falling due after more than one
year 17 (16,982) (33,308) - -
Net assets 197,622 134,972 190,666 128,015
The funds of the charity:
Unrestricted funds 18 115,669 48,068 108,713 41,111
Restricted funds 18 81,953 86,904 81,953 86,904
Total charity funds 197,622 134,972 190,666 128,015

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 ______ and signed on its behalf by: 17/07/2025

…………………………………………………………. Martin Young

Company No: 02317321

The notes on pages 15 to 31 form part of these accounts.

12

DOCKLANDS SAILING CENTRE TRUST

STATEMENT OF CASH FLOWS AND CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE 18 MONTHS PERIOD ENDED 30[th] SEPTEMBER 2024

Net cash / (used in) generated from operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Cash provided used in investing activities
Cash flows from financing activities
Repayment of Bank loan
Cash generated from financing activities
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		 GROUP
2024
2023
£
£
30.09.2024
31.03.2023
57,854
99,740
(25,227)
(7,800)
(25,227)
(7,800)
(16,326)
(6,353)
(16,326)
(6,353)
16,301
85,587
191,917
106,330
208,218
191,917		 CHARITY
2024
2023
£
£
30.09.2024 31.03.2023
21,341
85,956
(21,326)
(5,212)
(21,326)
(5,212)
-
-
15
80,744
162,466
81,722
162,481
162,466		 CHARITY
2024
2023
£
£
30.09.2024 31.03.2023
21,341
85,956
(21,326)
(5,212)
(21,326)
(5,212)
-
-
15
80,744
162,466
81,722
162,481
162,466
(5,212)
(5,212)
-
80,744
81,722
162,466

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

Net movement in funds
Add back depreciation
Decrease / (increase) in stock
Decrease / (increase) in debtors
Increase / (decrease) in creditors
Net cash generated/used in operating activities		 GROUP
2024
2023
30.09.2024
31.03.2023
£
£
62,650
15,451
28,221
20,453
(428)
(704)
(3,738)
714
(28,851)
63,825
57,854
99,739		 GROUP
2024
2023
30.09.2024
31.03.2023
£
£
62,650
15,451
28,221
20,453
(428)
(704)
(3,738)
714
(28,851)
63,825
57,854
99,739		 CHARITY
2024
2023
30.09.2024 31.03.2023
£
£
62,651
(27,676)
23,058
17,102
-
-
(2,949)
2,165
(61,419)
94,365
21,341
85,956		 CHARITY
2024
2023
30.09.2024 31.03.2023
£
£
62,651
(27,676)
23,058
17,102
-
-
(2,949)
2,165
(61,419)
94,365
21,341
85,956
99,739 85,956

13

DOCKLANDS SAILING CENTRE TRUST

STATEMENT OF CASH FLOWS AND CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE 18 MONTHS PERIOD ENDED 30[th] SEPTEMBER 2024

Analysis of change in net debt

Net Cash
Cash at bank and in hand
Debts
Debts falling due within one year
Debts falling due after one year		 At 1st
April 2023
191,917
191,917
9,685
33,308
42,993		 Cashflow
At 30th
Sep 2024
(18
months)
16,301
208,218
16,301
208,218
-
9,685
(16,326)
16,982
(16,326)
26,667
Group

14

DOCKLANDS SAILING CENTRE TRUST

CONSOLIDATED NOTES TO THE ACCOUNTS

FOR THE 18 MONTHS PERIOD ENDED 30[th] SEPTEMBER 2024

1. ACCOUNTING POLICIES

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the period and in the preceding year.

1.1 Basis of preparation of accounts

The financial statements of the company and the group 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 of the company and the group are prepared in sterling, which is the functional currency of the charity and the group. 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.

The financial statements of the company and the group have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

Reporting Period: The company and the group prepared the financial statements for 18 months from 1st April 2023 to 30 September 2024 which was extended by 6 months compared to previous year ended on 31st March 2023 by applying to the Companies House on 19th December 2024. As the UK summer months are crucial for generating revenue in the industry in which the company and the group operates, aligning the accounting period after the peak business season will provide a more accurate financial representation of the company and the group ’s performanc e. This adjustment will also allow for improved financial planning and reporting.

1.2 Going concern

The group ’ s Financial Statements shows a surplus for the period of £62,650 (2023: £15,451) and free reserves of £86,748 (2023: £31,898).

The Trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity and the group to continue as a going concern. Trustees will continue to monitor and ensure spending to be done in line with income in order to maintain target level of reserves. The review of cashflow for 12 months from the date of approval of the financial statements of the company and the group, the associated assumptions that underpin it, secured income and the steps that could be taken to reduce expenditure should this be necessary. We reviewed the reserve policy and available free reserves as well as modelled scenarios for actual and budgeted results to understand the impact of various income and expenditure.

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 and the group have 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 unrealized gains on transactions between group companies are eliminated on consolidation. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

15

DOCKLANDS SAILING CENTRE TRUST

CONSOLIDATED NOTES TO THE ACCOUNTS (Cont/d)

FOR THE 18 MONTHS PERIOD ENDED 30[th] SEPTEMBER 2024

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.

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 truste es’ 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:

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 Charity ’s 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 Fund’s 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.

16

DOCKLANDS SAILING CENTRE TRUST

CONSOLIDATED NOTES TO THE ACCOUNTS (Cont/d)

FOR THE 18 MONTHS PERIOD ENDED 30[th] SEPTEMBER 2024

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.

1.10 Investment in Subsidiary

Investments in subsidiary undertaking is recognised at cost less any provision for impairment.

1.11 Stock

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss. Stock consists of bar purchases.

1.12 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 reducing balance basis
Motor vehicle - 20% on reducing balance basis
Fixtures, fittings and equipment - 25% on reducing balance basis

1.13

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.

1.14 Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.15 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.

1.16 Taxation

The Charity is a registered charity and ,therefore, is not liable for Corporation Tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

The wholly-owned subsidiary, Dockland Sailing Centre Ltd (the “subsidiary”), carries out non -charitable trading activities and is subject to taxation, but do not generally pay UK Corporation Tax because their policy is to pay taxable profits as donations to the Charity.

17

DOCKLANDS SAILING CENTRE TRUST

CONSOLIDATED NOTES TO THE ACCOUNTS (Cont/d)

FOR THE 18 MONTHS PERIOD ENDED 30[th] SEPTEMBER 2024

1.17 Financial instruments

The Charity 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.

1.18 Operating leases

The charity classifies the lease of property and photo copier 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.

1.19 Judgement and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

The estimates and underlying 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

18

DOCKLANDS SAILING CENTRE TRUST

CONSOLIDATED NOTES TO THE ACCOUNTS (Cont/d)

FOR THE 18 MONTHS PERIOD ENDED 30[th] SEPTEMBER 2024

2. GRANTS, DONATIONS AND LEGACIES – GROUP

Jack Petchey Foundation
EECF
PLA
London Borough of Tower Hamlets
Coronavirus Job Retention Schem Grant
Other Donations < £1,000		 Unrestricted
£
-
-
-
-
2,009		 Restricted
2024
2023
(18 months) (12 months)
£
£
£
1,200
1,200
-
2,000
2,000
-
5,000
5,000
-
-
-
4,200
-
-
900
375
2,384
2,175
8,575
10,584
7,275
GROUP
2,009 8,575

Of the grants, donations and legacies income in 2023 totalling £7,275 where £6,225 was attributed to restricted funds and £1,050 to unrestricted funds.

3. GRANTS, DONATIONS AND LEGACIES – CHARITY

Jack Petchey Foundation
EECF
PLA
London Borough of Tower Hamlets
Coronavirus Job Retention Schem Grant
Other Donations < £1,000
Donation from susbsidiary company		 Unrestricted
£
-
-
-
-
2,009
162,515		 Restricted
2024
2023
(18 months) (12 months)
£
£
£
1,200
1,200
-
2,000
2,000
-
5,000
5,000
-
-
-
4,200
-
-
900
375
2,384
2,175
-
162,515
-
8,575
173,099
7,275
CHARITY
164,524 8,575

Of the grants, donations and legacies income in 2023 totalling £7,275 where £6,225 was attributed to restricted funds and £1,050 to unrestricted funds.

19

DOCKLANDS SAILING CENTRE TRUST

CONSOLIDATED NOTES TO THE ACCOUNTS (Cont/d)

FOR THE 18 MONTHS PERIOD ENDED 30[th] SEPTEMBER 2024

4. NET INCOME FROM TRADING ACTIVITIES OF SUBSIDIARY

– The wholly-owned trading subsidiary, Docklands Sailing Centre Limited (registration number 02319971), which is registered in England and Wales, pays all of its profits to the Charity by donation. 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 period ended 30[th] September 2024 is shown below:

SUMMARY PROFIT AND LOSS ACCOUNT:

Turnover
Other income
Cost of sales and administration costs
Net Profit
Retained in subsidiary
The assets and liabilities of the subsidiary were:
Fixed assets
Current assets
Current liabilities
Long term liabilities
Total net assets		 2024
(18 months)
719,081
-
(719,081)
-
-
11,762
110,933
(98,759)
(16,982)
6,954		 2023
(12 months)
341,522
-
(298,397)
43,125
43,125
13,024
133,550
(106,312)
(33,308)
6,954

20

DOCKLANDS SAILING CENTRE TRUST

CONSOLIDATED NOTES TO THE ACCOUNTS (Cont/d)

FOR THE 18 MONTHS PERIOD ENDED 30[th] SEPTEMBER 2024

5. ANALYSIS OF EXPENDITURE – GROUP

Salaries and staff costs
Purchases and consumables
Travelling and motor expenses
Rent and Rates
Repairs and maintenance
Light and heat
Cleaning
Advertising
Depreciation
Support costs (Note 6)
Governance costs (Note 6)
Total expenditure		 Commercial
Trading
Raising
operations
Funds
£
£
197,996
-
212,970
-
1,167
-
14,401
-
16,957
-
27,757
-
24,991
-
415
-
5,163
-
47,670
-
7,080
-
556,567
-
Sailing and
water activity
2024
(18 months)
£
£
432,038
630,034
14,845
227,815
-
1,167
14,122
28,523
40,292
57,249
29,076
56,833
26,441
51,432
1,236
1,651
23,058
28,221
67,444
115,114
6,630
13,710
655,182
1,211,749
GROUP		 2023
(12 months)
£
312,609
104,643
1,903
22,324
36,758
16,621
27,365
569
20,453
60,594
9,540
613,379

Of the £1,211,749 expenditure in 2024 (2023: £613,379) £1,198,223 was charged to unrestricted funds (2023: £604,947) and £13,526 to restricted funds (2023: £8,433).

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 chari ty’s key activity undertaken (see note 5) in the period. All the general support and governance costs have been apportioned to the various charitable activities on the basis of staff time allocated to each activity.

Insurance
Postage and stationaries
Telephone
Computer costs
Hire of equipments
Bank charges and interest
Legal and professional fees
Sundry expenses
Audit fees		 Support
costs
£
55,723
599
460
14,006
8,854
20,298
2,403
12,771
-
115,114		 Governance
costs
2024
2023
(18 months)
(12 months)
£
£
£
-
55,723
24,656
-
599
876
-
460
1,634
-
14,006
13,748
-
8,854
3,174
-
20,298
9,393
-
2,403
530
-
12,771
6,583
13,710
13,710
9,540
13,710
128,824
70,134
GROUP

21

DOCKLANDS SAILING CENTRE TRUST

CONSOLIDATED NOTES TO THE ACCOUNTS (Cont/d)

FOR THE 18 MONTHS PERIOD ENDED 30[th] SEPTEMBER 2024

7. ANALYSIS OF EXPENDITURE – CHARITY

Salaries and staff costs
Purchases and consumables
Travelling and motor expenses
Rent and Rates
Repairs and maintenance
Light and heat
Cleaning
Advertising
Depreciation
Support costs (Note 8)
Governance costs (Note 8)
Total expenditure		 Raising
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
Sailing and
water activity
2024
(18 months)
£
£
432,038
432,038
14,845
14,845
-
-
14,122
14,122
40,292
40,292
29,076
29,076
26,441
26,441
1,236
1,236
23,058
23,058
67,444
67,444
6,630
6,630
655,182
655,182		 2023
(12 months)
£
187,530
5,924
254
11,161
30,077
8,311
14,229
569
17,102
35,748
4,080
314,985

Of the £655,182 expenditure in 2024 (2023: £314,985), £641,656 was charged to unrestricted funds (2023: £306,552) and £13,526 to restricted funds (2023: £8,433).

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 separa tely between charity’s one key activity undertaken (see note 7) in the period. All the general support and governance costs have been apportioned to the various charitable activities on the basis of staff time allocated to each activity.

Insurance
Postage and stationaries
Telephone
Computer costs
Hire of equipments
Bank charges and interest
Legal and professional fees
Sundry expenses
Audit fees		 Support
costs
£
29,087
386
370
6,795
4,427
13,310
1,318
11,751
-
67,444		 Governance
costs
2024
2023
(18 months)
(12 months)
£
£
£
-
29,087
13,578
-
386
740
-
370
847
-
6,795
5,546
-
4,427
1,587
-
13,310
8,200
-
1,318
120
-
11,751
5,130
6,630
6,630
4,080
6,630
74,074
39,828
CHARITY

22

DOCKLANDS SAILING CENTRE TRUST

CONSOLIDATED NOTES TO THE ACCOUNTS (Cont/d)

FOR THE 18 MONTHS PERIOD ENDED 30[th] SEPTEMBER 2024

9. NET INCOME / (EXPENDITURE) FOR THE PERIOD

NET INCOME / (EXPENDITURE) FOR THE PERIOD
This is stated after charging: 2024 2023
£ £
Depreciation of tangible fixed assets 28,221 19,411
Operating lease payments 15,854 15,854
Auditor’s remuneration 13,710 9,540

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

STAFF COSTS
Wages and salaries
National Insurance
Pension		 2024
£
584,970
31,612
13,452
630,034		 2023
£
286,571
18,947
7,091
312,609

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

None of the Trustees received any remuneration during the period (2023: £nil) and no expenses were reimbursed (2023: £nil).

The key management personnel of the Charity consist of the Centre Manager. The total employee benefits of the key management personnel of the charity were £92,883 (2023: £63,141). 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 period was as follows:

Direct charitable and bar trading work
Administrative work
Total		 2024
11
1
12		 2023
10
1
11

The average monthly number of persons employed by the group during the period was 28 (2023:21).

23

DOCKLANDS SAILING CENTRE TRUST

CONSOLIDATED NOTES TO THE ACCOUNTS (Cont/d)

FOR THE 18 MONTHS PERIOD ENDED 30[th] SEPTEMBER 2024

12. TANGIBLE FIXED ASSETS – GROUP

GROUP
NET BOOK VALUES
Land & buildings
Plant and machineries
Fixtures, fittings & equipments
Motor vehicle
MOVEMENTS IN YEAR
Cost or valuation
Land & buildings
Plant and machineries
Fixtures, fittings & equipments
Motor vehicle
Depreciation
Land & buildings
Plant and machineries
Fixtures, fittings & equipments
Motor vehicle		 Opening
Balances
£
164,342
374,726
72,368
30,395		 Additions
£
-
25,227
-
-
25,227
Charge
For Year
£
2,490
22,416
2,585
730
28,221		 2024
(18 months)
£
39,922
66,645
4,092
1,704
112,363
Disposals
£
-
-
-
-
-
Disposals
£
-
-
-
-
-		 2023
(12 months)
£
42,412
63,834
6,677
2,434
115,357
Closing
Balances
£
164,342
399,953
72,368
30,395
641,831 667,058
Opening
Balances
£
121,930
310,892
65,691
27,961		 Closing
Balances
£
124,420
333,308
68,276
28,691
526,474 554,695

24

DOCKLANDS SAILING CENTRE TRUST

CONSOLIDATED NOTES TO THE ACCOUNTS (Cont/d)

FOR THE 18 MONTHS PERIOD ENDED 30[th] SEPTEMBER 2024

TANGIBLE FIXED ASSETS – CHARITY

CHARITY
NET BOOK VALUES
Land & buildings
Plant and machineries
Fixtures, fittings & equipments
Motor vehicle
MOVEMENTS IN YEAR
Cost or valuation
Land & buildings
Plant and machineries
Fixtures, fittings & equipments
Motor vehicle
Depreciation
Land & buildings
Plant and machineries
Fixtures, fittings & equipments
Motor vehicle		 Opening
Balances
£
164,342
295,909
22,660
30,395		 Additions
£
20,327
999
-
21,326
Charge
For Year
£
2,490
17,681
2,157
730
23,058		 2024
(18 months)
£
39,922
54,597
4,378
1,704
100,601
Disposals
£
-
-
-
-
-
Disposals
£
-
-
-
-
-		 2023
(12 months)
£
42,412
51,951
5,536
2,434
102,333
Closing
Balances
£
164,342
316,236
23,659
30,395
513,306 534,632
Opening
Balances
£
121,930
243,958
17,124
27,961		 Closing
Balances
£
124,420
261,639
19,281
28,691
410,973 434,031

13. FIXED ASSET INVESTMENTS – GROUP AND CHARITY

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.

GROUP CHARITY
2024 2023 2024 2023
30.09.2024 31.03.2023 30.09.2024 31.03.2023
£ £ £ £
Investment at cost - - 2 2

25

DOCKLANDS SAILING CENTRE TRUST

CONSOLIDATED NOTES TO THE ACCOUNTS (Cont/d)

FOR THE 18 MONTHS PERIOD ENDED 30[th] SEPTEMBER 2024

14. STOCK – GROUP AND CHARITY

GROUP CHARITY CHARITY
2024 2023 2024 2023
30.09.2024 31.03.2023 30.09.2024 31.03.2023
£ £ £ £
Bar stock 5,302 4,874 - -
5,302 4,874 - -

15. DEBTORS – GROUP AND CHARITY

Trade debtors
Other debtors		 2024
2023
2024
2023
30.09.2024
31.03.2023
30.09.2024
31.03.2023
£
£
£
£
3,894
-
2,866
-
1,105
1,261
876
793
4,999
1,261
3,742
793
GROUP
CHARITY

16. CREDITORS FALLING DUE WITHIN ONE YEAR – GROUP AND CHARITY

Trade creditors
Taxation and social security
Bank loan (note 17)
Amounts due to subsidiary undertaking
Deferred income (note 20)
Other creditors
Accruals		 2024
2023
30.09.2024
31.03.2023
£
£
25,472
60,367
52,245
19,060
9,685
9,685
-
-
7,870
44,138
2,111
1,858
18,895
10,021
116,278
145,129
GROUP		 2024
2023
30.09.2024
31.03.2023
£
£
1,624
17,762
1,558
4,376
-
-
58,628
88,223
7,870
23,738
-
-
6,480
3,480
76,160
137,579
CHARITY

26

DOCKLANDS SAILING CENTRE TRUST

CONSOLIDATED NOTES TO THE ACCOUNTS (Cont/d)

FOR THE 18 MONTHS PERIOD ENDED 30[th] SEPTEMBER 2024

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

Amount due greater than one year

GROUP GROUP CHARITY CHARITY
2024 2023 2024 2023
30.09.2024 31.03.2023 30.09.2024 31.03.2023
£ £ £ £
Bank loan 16,982 33,308 - -

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

27

DOCKLANDS SAILING CENTRE TRUST

CONSOLIDATED NOTES TO THE ACCOUNTS (Cont/d)

FOR THE 18 MONTHS PERIOD ENDED 30[th] SEPTEMBER 2024

18. ANALYSIS OF CHARITABLE FUNDS – GROUP AND CHARITY

Restricted funds:
Disability Water Sports
Slipway expenses
Waterside fixtures and equipments
Courses and Clasees
Motor vehicle
Building developments
Instructor Trainings
Unrestricted funds:
General funds
Restricted funds:
Disability Water Sports
Slipway expenses
Waterside fixtures and equipments
Courses and Classes
Motor vehicle
Building developments
Instructor Trainings
Unrestricted funds:
General funds		 Balance as
at 01.04.23
£
20,025
1,000
23,365
512
2,282
39,720
-
86,904
48,068
134,972
Balance as
at 01.04.23
£
20,025
1,000
23,365
512
2,282
39,720
-
86,904
41,111
128,015		 Income
Expenditure
£
£
375
5,907
-
-
-
4,673
-
-
-
456
-
2,490
8,200
-
8,575
13,526
1,265,824
1,198,223
1,274,399
1,211,749
Income
Expenditure
£
£
375
5,907
-
-
-
4,673
-
-
-
456
-
2,490
8,200
-
8,575
13,526
709,258
641,656
717,833
655,182
GROUP
CHARITY		 Income
Expenditure
£
£
375
5,907
-
-
-
4,673
-
-
-
456
-
2,490
8,200
-
8,575
13,526
1,265,824
1,198,223
1,274,399
1,211,749
Income
Expenditure
£
£
375
5,907
-
-
-
4,673
-
-
-
456
-
2,490
8,200
-
8,575
13,526
709,258
641,656
717,833
655,182
GROUP
CHARITY		 Balance as
at 30.09.2024
£
14,493
1,000
18,692
512
1,826
37,230
8,200
13,526 81,953
1,198,223 115,669
1,211,749 197,622
Balance as
at 30.09.2024
£
14,493
1,000
18,692
512
1,826
37,230
8,200
13,526 81,953
641,656 108,713
655,182 190,666

28

DOCKLANDS SAILING CENTRE TRUST

CONSOLIDATED NOTES TO THE ACCOUNTS (Cont/d)

FOR THE 18 MONTHS PERIOD ENDED 30[th] SEPTEMBER 2024

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

– – Analysis of group assets between funds group and charity previous year 31.03.2023

Restricted funds:
Disability Water Sports
Slipway expenses
Waterside fixtures and equipments
Courses and Classes
Motor vehicle
Building developments
Unrestricted funds:
General funds
Restricted funds:
Disability Water Sports
Slipway expenses
Waterside fixtures and equipments
Courses and Classes
Motor vehicle
Building developments
Unrestricted funds:
General funds		 Balance as
at 01.04.22
£
(As restated)
13,800
1,000
29,206
683
3,043
41,380
89,112
30,409
119,521
Balance as
at 01.04.22
£
(As restated)
13,800
1,000
29,206
683
3,043
41,380		 Income
Expenditure
£
£
6,225
-
-
-
-
5,841
-
171
-
761
-
1,660
6,225
8,433
622,606
604,947
628,831
613,380
Income
Expenditure
£
£
6,225
-
-
-
-
5,841
-
171
-
761
-
1,660
GROUP
CHARITY		 Income
Expenditure
£
£
6,225
-
-
-
-
5,841
-
171
-
761
-
1,660
6,225
8,433
622,606
604,947
628,831
613,380
Income
Expenditure
£
£
6,225
-
-
-
-
5,841
-
171
-
761
-
1,660
GROUP
CHARITY		 Balance as
at 31.03.23
£
20,025
1,000
23,365
512
2,282
39,720
8,433 86,904
604,947 48,068
613,380 134,972
Balance as
at 31.03.23
£
20,025
1,000
23,365
512
2,282
39,720
89,112 6,225
8,433		 86,904
66,579 281,084
306,552		 41,111
155,691 287,309
314,985		 128,015

29

DOCKLANDS SAILING CENTRE TRUST

CONSOLIDATED NOTES TO THE ACCOUNTS (Cont/d)

FOR THE 18 MONTHS PERIOD ENDED 30[th] SEPTEMBER 2024

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:

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

Tangible fixed assets
Investments
Net current assets
Long term liabilities		 Unrestricted
£
45,903
-
86,748
(16,982)
115,669		 Restricted
£
66,460
-
15,493
-
GROUP		 Total
£
112,363
-
102,241
(16,982)
197,622		 Unrestricted
Restricted
£
£
34,141
66,460
2
-
74,570
15,493
-
-
108,713
81,953
CHARITY		 Total
£
100,601
2
90,063
-
81,953 190,666

– – Analysis of group assets between funds group and charity previous year 31.03.2023

Tangible fixed assets
Investments
Net current assets
Long term liabilities		 Unrestricted
£
49,478
-
31,898
(33,308)		 Restricted
£
65,879
-
21,025
-
GROUP		 Total
£
115,357
-
52,923
(33,308)
134,972		 Unrestricted
Restricted
£
£
36,454
65,879
2
-
4,655
21,025
-
-
41,111
86,904
CHARITY		 Total
£
102,333
2
25,680
-
48,068 86,904 128,015

30

DOCKLANDS SAILING CENTRE TRUST

CONSOLIDATED NOTES TO THE ACCOUNTS (Cont/d)

FOR THE 18 MONTHS PERIOD ENDED 30[th] SEPTEMBER 2024

20. DEFERRED INCOME – GROUP AND CHARITY

Balance brought forward
Amount released to income in the year
Amount deferred in the year
Balance carried forward		 GROUP
2024
2023
30.09.2024
31.03.2023
£
£
44,138
19,688
(44,138)
(19,688)
4,323
44,138
4,323
44,138		 CHARITY
2024
2023
30.09.2024
31.03.2023
£
£
23,738
19,688
(23,580)
(19,688)
4,165
23,738
4,323
23,738		 CHARITY
2024
2023
30.09.2024
31.03.2023
£
£
23,738
19,688
(23,580)
(19,688)
4,165
23,738
4,323
23,738
23,738

Deferred income represents membership fees, course fees and events income relating to 2024-25.

21. OPERATING LEASE COMMITMENTS – GROUP AND CHARITY

At 30[th] September there were the following future minimum lease payments under non-cancellable operating leases:

Land and building
Not later than one year
Later than 1 year not later than 5 years
Later than 5 years		 GROUP
2024
2023
30.09.2024
31.03.2023
£
£
15,854
15,854
63,418
63,418
1,400,692
1,442,752
1,479,964
1,522,024		 CHARITY
2024
2023
30.09.2024
31.03.2023
£
£
15,854
15,854
63,418
63,418
1,400,692
1,442,752
1,479,964
1,522,024

The above operating lease commenced on 31 March 1994 for a period of 125 years.

22. PENSION COSTS

The pension contributions payable by the Charity and its subsidiary amounted to £13,452 (2023: £7,091). Contributions totalling £1,232 (2023: £662) were due at the period 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 TRANSATIONS

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

25. ULTIMATE CONTROLLING PARTY

For the whole of the period, the charity was under the control of the Directors and Trustees as shown on page 4.

31