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 2025

for

Sailing Smack Trust Limited

A Charity Limited By Guarantee

Page

Report of the Trustees

1

to

2

Independent Examiner's Report

3

Statement of Financial Activities

4

Balance Sheet

5

Notes to the Financial Statements

6

to

9

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 2025. 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.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The Charity was donated a sailing smack during the year, this is currently being restored.

FINANCIAL REVIEW

Reserves policy

The trustees wish to ensure that the reserves of the charity are sufficient to ensure one year's costs are covered.

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

Independent Examiner

Mr J R Champion

McLean Reid

Chartered Accountants

1 Forstal Road

Aylesford

Kent

ME20 7AU

Approved by order of the board of trustees on 24 July 2026 and signed on its behalf by:

Mr P Winter - Trustee

Independent examiner's report to the trustees of Sailing Smack Trust Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 2025.

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.

Mr J R Champion

McLean Reid

Chartered Accountants

1 Forstal Road

Aylesford

Kent

ME20 7AU

27 July 2026

2025

2024

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

187,182

2,204

EXPENDITURE ON

Charitable activities

To provide education and benefit of the public and sailing for disabled children.

367

334

Other

2,715

395

Total

3,082

729

NET INCOME

184,100

1,475

RECONCILIATION OF FUNDS

Total funds brought forward

(892

)

(2,367

)

TOTAL FUNDS CARRIED FORWARD

183,208

(892

)

2025

2024

Unrestricted

Total

fund

funds

Notes

£

£

FIXED ASSETS

Tangible assets

5

160,092

-

CURRENT ASSETS

Debtors

6

4,912

33

Cash at bank

22,559

1,751

27,471

1,784

CREDITORS

Amounts falling due within one year

7

(4,355

)

(2,676

)

NET CURRENT ASSETS/(LIABILITIES)

23,116

(892

)

TOTAL ASSETS LESS CURRENT LIABILITIES

183,208

(892

)

NET ASSETS/(LIABILITIES)

183,208

(892

)

FUNDS

8

Unrestricted funds

183,208

(892

)

TOTAL FUNDS

183,208

(892

)

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 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 24 July 2026 and were signed on its behalf by:

Mr P Winter - Trustee

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.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2025

2024

£

£

Depreciation - owned assets

1,617

-

3.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 October 2025 nor for the year ended 31 October 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 October 2025 nor for the year ended 31 October 2024.

4.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

fund

£

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

Other

395

Total

729

NET INCOME

1,475

RECONCILIATION OF FUNDS

Total funds brought forward

(2,367

)

TOTAL FUNDS CARRIED FORWARD

(892

)

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 November 2024

325

Additions

161,709

At 31 October 2025

162,034

DEPRECIATION

At 1 November 2024

325

Charge for year

1,617

At 31 October 2025

1,942

NET BOOK VALUE

At 31 October 2025

160,092

At 31 October 2024

-

6.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

VAT

3,202

8

Prepayments

1,710

25

4,912

33

7.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other creditors

3,705

2,256

Accrued expenses

650

420

4,355

2,676

8.	MOVEMENT IN FUNDS

Net

At

movement

At

1.11.24

in funds

31.10.25

£

£

£

Unrestricted funds

General fund

(892

)

184,100

183,208

TOTAL FUNDS

(892

)

184,100

183,208

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

187,182

(3,082

)

184,100

TOTAL FUNDS

187,182

(3,082

)

184,100

Comparatives for 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

)

Comparative 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

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

Net

At

movement

At

1.11.23

in funds

31.10.25

£

£

£

Unrestricted funds

General fund

(2,367

)

185,575

183,208

TOTAL FUNDS

(2,367

)

185,575

183,208

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

189,386

(3,811

)

185,575

TOTAL FUNDS

189,386

(3,811

)

185,575

9.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 October 2025.