REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
The Steam Tug Kerne Preservation Society |
Limited |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
The Steam Tug Kerne Preservation Society |
Limited |
The Steam Tug Kerne Preservation Society |
Limited |
Contents of the Financial Statements |
for the year ended 31 December 2023 |
Page |
Chairman's Report | 1 |
Report of the Trustees | 2 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 |
Notes to the Financial Statements | 6 | to | 9 |
The Steam Tug Kerne Preservation Society |
Limited |
Chairman's Report |
for the year ended 31 December 2023 |
The year 2023 followed the usual pattern of Saturday volunteer work parties with a tremendous amount of work carried out in timely fashion in order to keep the vessel in operational condition. This enabled us to achieve a number of trips away from our secure berth in Sandon Dock, and more importantly to spend considerable periods of time in the public eye. |
Thankfully the problems with the entrance gate to Canning/Albert Dock complex had been resolved to enable the vessel to steam to Canning Dock and to remain on display and open to the public from 25th April to 21st August. This included the period of the Battle of Britain 80th Anniversary Celebrations and the Eurovision Song Contest over which in excess of 10,000 spectators viewed and on specific open days, had access aboard the vessel. In recognition of the situation in the Ukraine we repainted Kerne's funnel in their national colours. |
September saw the vessel in action again for two members charters in unseasonably good weather with trips in the Mersey Channel before returning to Sandon ahead of our trip to the Annual Leigh Arms End of Season Steam Party. The vessel sailed from Sandon on 7th October to Acton Bridge via the Manchester Ship Canal and River Weaver, proceeding further up-river to Anderton, before returning to Sandon on 11th October. The Acton Bridge/Anderton leg of the sailing was made possible by the extensive dredging carried out by the Canal and River Trust. |
To improve publicity, and to embrace the digital age in which we live, information boards were manufactured that are located in the Wheelhouse windows and include large QR Codes, readable from the quayside giving access to our website, membership applications etc. These give 24-hour access rather than a reliance on handouts which were only available from the vessel when she is manned. |
Apart from the usual items of winter maintenance, work projects aboard during 2023 include the fitting of a new wind generator and regulator, installation of a reconditioned Duplex General Service Pump, purchase of boiler lagging material and the manufacture of supporting steel crinolines. Also welded plating repairs have been carried out on a section of the forward starboard deck (with thanks to National Historic Ships for a £1000 grant) and the life jacket lockers have been refurbished. |
Financially, the Society relies on subscriptions, grants, donations and Gift Aid to fund it's activities, but the sharp increase in fuel costs has resulted in our operating costs exceeding income in the year. |
Finally, in August our former Chairman George Coles passed away after some 40 years involvement and support for the Kerne. |
Allan Hickson |
Chairman |
The Steam Tug Kerne Preservation Society |
The Steam Tug Kerne Preservation Society |
Limited (Registered number: 06242623) |
Report of the Trustees |
for the year ended 31 December 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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). |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Independent Examiner |
Mayes Business Partnership Ltd |
Chartered Certified Accountants |
22-28 Willow Street |
Accrington |
Lancashire |
BB5 1LP |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
The Steam Tug Kerne Preservation Society |
Limited |
Independent examiner's report to the trustees of The Steam Tug Kerne Preservation Society Limited ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
Sylvie Baxter |
Mayes Business Partnership Ltd |
Chartered Certified Accountants |
22-28 Willow Street |
Accrington |
Lancashire |
BB5 1LP |
27 February 2024 |
The Steam Tug Kerne Preservation Society |
Limited |
Statement of Financial Activities |
for the year ended 31 December 2023 |
31/12/23 | 31/12/22 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities | 2 |
Investment income | 3 |
Total |
EXPENDITURE ON |
Raising funds | 4 |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 9,376 |
The Steam Tug Kerne Preservation Society |
Limited (Registered number: 06242623) |
Balance Sheet |
31 December 2023 |
31/12/23 | 31/12/22 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 9 |
Unrestricted funds | 9,376 |
TOTAL FUNDS | 9,376 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
The Steam Tug Kerne Preservation Society |
Limited |
Notes to the Financial Statements |
for the year ended 31 December 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
2. | OTHER TRADING ACTIVITIES |
31/12/23 | 31/12/22 |
£ | £ |
Fundraising events |
Sundry income | - | 34 |
3. | INVESTMENT INCOME |
31/12/23 | 31/12/22 |
£ | £ |
Interest receivable - trading | 27 | - |
The Steam Tug Kerne Preservation Society |
Limited |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
4. | RAISING FUNDS |
Raising donations and legacies |
31/12/23 | 31/12/22 |
£ | £ |
Support costs |
5. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | fund | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities |
Total |
EXPENDITURE ON |
Raising funds |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 14,240 | - |
TOTAL FUNDS CARRIED FORWARD | 9,376 | - | 9,376 |
The Steam Tug Kerne Preservation Society |
Limited |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/23 | 31/12/22 |
£ | £ |
Other debtors |
Tax |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/23 | 31/12/22 |
£ | £ |
Accrued expenses |
9. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1/1/23 | in funds | 31/12/23 |
£ | £ | £ |
Unrestricted funds |
General fund | 9,376 | (1,577 | ) | 7,799 |
TOTAL FUNDS | (1,577 | ) | 7,799 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 16,316 | (17,893 | ) | (1,577 | ) |
Restricted funds |
Repairs fund | 1,000 | (1,000 | ) | - |
TOTAL FUNDS | ( |
) | (1,577 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1/1/22 | in funds | 31/12/22 |
£ | £ | £ |
Unrestricted funds |
General fund | 14,240 | (4,864 | ) | 9,376 |
TOTAL FUNDS | 14,240 | (4,864 | ) | 9,376 |
The Steam Tug Kerne Preservation Society |
Limited |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
9. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 15,257 | (20,121 | ) | (4,864 | ) |
TOTAL FUNDS | 15,257 | (20,121 | ) | (4,864 | ) |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1/1/22 | in funds | 31/12/23 |
£ | £ | £ |
Unrestricted funds |
General fund | 14,240 | (6,441 | ) | 7,799 |
TOTAL FUNDS | 14,240 | (6,441 | ) | 7,799 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 31,573 | (38,014 | ) | (6,441 | ) |
Restricted funds |
Repairs fund | 1,000 | (1,000 | ) | - |
TOTAL FUNDS | 32,573 | (39,014 | ) | (6,441 | ) |
10. | RELATED PARTY DISCLOSURES |