## **CLYDE CRUISING CLUB SEAMANSHIP & PILOTAGE TRUST SC**
# **ACCOUNTS FOR YEAR ENDED 31st DECEMBER 2024**
## **SCOTTISH CHARITY NUMBER: SCO09O52510**
## **Contents**
**Trustees report**
**Receipts and payments account**
**Statement of balances**
**Notes to the accounts**
**Report of the independent examiner**
## **Clyde Cruising Club Seamanship & Pilotage Trust SCIO**
## **Trustees' Annual Report and Accounts for the year ended 31st.December 2024**
_Scottish Charity Number SCO52510_
## **Contact address**
Clyde Offices, 2[nd] Floor 48 West George Street, Glasgow G2 1PB
## **Current Trustees**
The Trustees who are responsible for the administrative affairs of the Trust are (Chair),
and . New Trustees are appointed in accordance with the terms of the Deed of Trust and include the members of Clyde Cruising Club (CCC) who hold the offices of Commodore,Treasurer and Secretary and such other persons as may be assumed in to the Trust. The period of office which any Trustee may hold (other than ex-officio) should not exceed six years and there should be a rotation of Trustees with one third resigning at the end of every second year.
## **Governing Document**
The Clyde Cruising Club Seamanship & Pilotage Trust was founded by Deed of Trust dated 29 March 1984 and is governed by the Trust Deed. The Trustees have now completed the process of converting to become a SCIO and the new SCIO has started to operate from 1st.January 2024. The original charity SCO09099 continues to exist while the Land and Title Deeds of Bardowie Loch and Clubhouse are transferred to the new SCIO SC052510
## **Charitable Purposes**
Its objectives are primarily the following:
to educate the public in the knowledge and practice of seamanship to improve safety at sea;
to provide facilities for recreation, connected with sailing, for young people, especially those from deprived areas, with a view to improving the conditions of life of such persons;
to organise courses and provide special equipment to enable disabled people to sail;
to advance the education in the practice of pilotage and coastal and ocean navigation; and,
to assist in the preservation of craft, property and navigational and other records of significance in connection with the sea and sailing.
## **Activities and achievements**
The Trust owns Bardowie Loch which is used by the Dinghy Section of CCC to achieve the Trust’s charitable purposes. The Trust receives donations and income from investments which enables it to make grants to various individuals and bodies in accordance with its charitable purposes. The grants for 2024 will be detailed in the accounts for the new SCIO submitted after January 2025. The recipients this year include a disabled sailor to allow him to compete away from home, the Ocean Youth Trust Scotland, Disability Scotland and another young sailor to travel for championship events.
## **Reserves Policy**
The level of reserves held is shown in the Statement of Balances on page 4; these are in the form of investments in stocks and shares now managed by Evelyn Partners. The Trustees are satisfied with the level of reserves held, particularly taking into account the need to ensure sufficient funds are available to allow flexibility in responding to needs. Due to high management costs with Rathbones the Trustees acted to transfer of fun to Evelyn Partners team, and this is reported in these accounts for the new SCIO for January to December 2024.
## **Investment Policy**
The Trustees have transferred from the services of Rathbones who managed the Trust's investments at the commencement of the year, and the new management of funds has been taken up by Evelyn Partners. The Trustees consider the income requirements, the risk profile and the investment manager's view of the market prospects in the short to medium term. The policy objective is to achieve over the longer term an appreciation in capital values,but at the same time aiming to generate a reasonable and growing level of income to provide funding for young sailors and those who have disabilities .
## **Statement on Risk**
The Trustees have examined the major risks which the Trust faces and established appropriate systems to mitigate those risk.
**CLYDE CRUISING CLUB SEAMANSHIP & PILOTAGE TRUST SCIO**
## **RECEIPTS AND PAYMENTS ACCOUNT**
## **YEAR ENDED 31 DECEMBER 2024**
**----- Start of picture text -----**
£
£
Receipts 2024
Investment Income
Bank Interest
Donations and Refunds 3,780
Donations Royalties 1,401
Gift Aid 0 -
Payments from Evelyn 452 -
Transfer from SCO09099 9,073 -
Total Receipts 14,706
Payments
For charitable Grants and Donations
Ocean Youth Trust 2,000
2,000
RYA Sailabilty Scotland 500
-
Total 4,500
**----- End of picture text -----**
## **CLYDE CRUISING CLUB SEAMANSHI & PILOTAGE TRUST SCIO**
**STATE OF BALANCES YEAR ENDED 31st.DECEMBER 2024**
**----- Start of picture text -----**
£ £
2024
Cash and Bank Balances 31st.December 2024
Closing Bank Account 10,205
Net Receipts/-Payments
Total 10,205
Investments at Market Value at 5 April 2024 Rathbones 191,861
Per EVELYN PARTNERS valuation at 31December 2024 203,741
Add Cash held by them at year end 0
Total 203,741
On behalf of the Trustees;
**----- End of picture text -----**
_NOTES. The SCIO Bank Account commenced in JANUARY 2024 with final transfer of Funds on 02/04/20 S&PT Charity SCO09099 bank account closed 3rd.April 2024 following transfer of remaining funds to SCI_
Chairman
29th.March 2025
**NOTES TO THE ACCOUNTS**
- **1** The Trustees did not receive any remuneration or expenses during the year
- **2** The accounts have ben prepared on a receipts and income basis
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