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REGISTERED COMPANY NUMBER: 03122318 (England and Wales)
REGISTERED CHARITY NUMBER: 1064726















Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 October 2024

for

Sailing Smack Trust Limited
A Charity Limited By Guarantee

Sailing Smack Trust Limited
A Charity Limited By Guarantee






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Report of the Trustees 1

Statement of Financial Activities 2

Balance Sheet 3

Notes to the Financial Statements 4 to 7

Sailing Smack Trust Limited (Registered number: 03122318)
A Charity Limited By Guarantee

Report of the Trustees
for the Year Ended 31 October 2024


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 October 2024. 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).

OBJECTIVES AND ACTIVITIES
Objectives and aims
1) To provide for the education and benefit of the public facilities and finance for the discovery, repair, reconstruction, renewal, replacement, maintenance, preservation, transportation, sailing trips and berthing of tall ships and of other ships and vessels of national, historic, technical or scientific interest and of buildings and relics of similar interest and connected in any way with such vessels or the construction or use of such vessels and the protection and promotion of public enjoyment and appreciation of the same;

2) To support or further any other exclusively charitable objects and purposes in the united kingdom or in any other part of the world.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
The trustee has retired from active participation, but the charity is hoping to set up new charitable activities on the East coast.

FINANCIAL REVIEW
Reserves policy
The trustee wishes to ensure that the reserves of the charity are sufficient to ensure one year's costs are covered. Historically the annual costs are in excess of current reserves.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its Memorandum & Articles of Association as amended by a Special Resolution dated 9 June 1997.

Recruitment and appointment of new trustees
The trustee shall have power at any time, and from time to time, to appoint any person to be a trustee, either to fill a casual vacancy or as an addition to the existing trustees.

At every Annual General meeting of the charity all the trustees shall retire from office and shall be eligible for re-election.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
03122318 (England and Wales)

Registered Charity number
1064726

Registered office
The White House
Whitehall Lane
Thorpe-le-soken
Essex
CO16 0AH

Trustees
Mr A R Winter Company Director
Mr P Winter Trustee (appointed 7.10.24)

Approved by order of the board of trustees on 23 December 2024 and signed on its behalf by:





Mr A R Winter - Trustee

Sailing Smack Trust Limited
A Charity Limited By Guarantee

Statement of Financial Activities
for the Year Ended 31 October 2024

2024 2023
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2,204 -

EXPENDITURE ON
Charitable activities
To provide education and benefit of the public and sailing for disabled children.
334

523

Other 395 -
Total 729 523

NET INCOME/(EXPENDITURE) 1,475 (523 )


RECONCILIATION OF FUNDS
Total funds brought forward (2,367 ) (1,844 )

TOTAL FUNDS CARRIED FORWARD (892 ) (2,367 )

Sailing Smack Trust Limited (Registered number: 03122318)
A Charity Limited By Guarantee

Balance Sheet
31 October 2024

2024 2023
Unrestricted Total
fund funds
Notes £    £   
CURRENT ASSETS
Debtors 5 33 68
Cash at bank 1,751 221
1,784 289

CREDITORS
Amounts falling due within one year 6 (2,676 ) (2,656 )

NET CURRENT ASSETS/(LIABILITIES) (892 ) (2,367 )

TOTAL ASSETS LESS CURRENT LIABILITIES (892 ) (2,367 )

NET ASSETS/(LIABILITIES) (892 ) (2,367 )
FUNDS 7
Unrestricted funds (892 ) (2,367 )
TOTAL FUNDS (892 ) (2,367 )

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 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 23 December 2024 and were signed on its behalf by:





Mr A R Winter - Trustee

Sailing Smack Trust Limited
A Charity Limited By Guarantee

Notes to the Financial Statements
for the Year Ended 31 October 2024

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.

The trustee considers that there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the charity to continue as a going concern.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Plant and machinery - 20% on cost

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.

2. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 October 2024 nor for the year ended 31 October 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 October 2024 nor for the year ended 31 October 2023.



Sailing Smack Trust Limited
A Charity Limited By Guarantee

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund fund funds
£    £    £   

EXPENDITURE ON
Charitable activities
To provide education and benefit of the public and sailing for disabled children.
523

-

523

NET INCOME/(EXPENDITURE) (523 ) - (523 )


RECONCILIATION OF FUNDS
Total funds brought forward (1,844 ) - (1,844 )

TOTAL FUNDS CARRIED FORWARD (2,367 ) - (2,367 )

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 November 2023 and 31 October 2024 325
DEPRECIATION
At 1 November 2023 and 31 October 2024 325
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
VAT 8 43
Prepayments 25 25
33 68

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 2,256 2,256
Accrued expenses 420 400
2,676 2,656


Sailing Smack Trust Limited
A Charity Limited By Guarantee

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

7. MOVEMENT IN FUNDS
Net
At movement At
1.11.23 in funds 31.10.24
£    £    £   
Unrestricted funds
General fund (2,367 ) 1,475 (892 )

TOTAL FUNDS (2,367 ) 1,475 (892 )

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 2,204 (729 ) 1,475

TOTAL FUNDS 2,204 (729 ) 1,475


Comparatives for movement in funds

Net
At movement At
1.11.22 in funds 31.10.23
£    £    £   
Unrestricted funds
General fund (1,844 ) (523 ) (2,367 )

TOTAL FUNDS (1,844 ) (523 ) (2,367 )

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund - (523 ) (523 )

TOTAL FUNDS - (523 ) (523 )

A current year 12 months and prior year 12 months combined position is as follows:

Net
At movement At
1.11.22 in funds 31.10.24
£    £    £   
Unrestricted funds
General fund (1,844 ) 952 (892 )

TOTAL FUNDS (1,844 ) 952 (892 )

Sailing Smack Trust Limited
A Charity Limited By Guarantee

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

7. MOVEMENT IN FUNDS - continued

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 2,204 (1,252 ) 952

TOTAL FUNDS 2,204 (1,252 ) 952

8. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 October 2024.