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COMPANY REGISTRATION NUMBER: 08168197
CHARITY REGISTRATION NUMBER: 1149489
Hawley Lake Sail Training Centre
Company Limited by Guarantee
Unaudited Financial Statements
31 October 2025
Hawley Lake Sail Training Centre
Company Limited by Guarantee
Financial Statements
Year ended 31 October 2025
Page
Trustees' annual report (incorporating the director's report)
1
Independent examiner's report to the trustees
5
Statement of financial activities (including income and expenditure account)
6
Statement of financial position
7
Notes to the financial statements
8
Hawley Lake Sail Training Centre
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 October 2025
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 October 2025 .
Reference and administrative details
Registered charity name
Hawley Lake Sail Training Centre
Charity registration number
1149489
Company registration number
08168197
Principal office and registered
Hawley Lake Sail Training Centre
office
3 Rsme Regiment - Gibraltar Barracks
Blackwater
Camberley
GU17 9LP
Surrey
The trustees
C Hale
(Resigned 31 December 2025)
DJ Morgan
(Resigned 23 January 2026)
J Halstead
(Resigned 23 January 2026)
M Ambroziak
(Resigned 23 January 2026)
MR Lysaght
(Resigned 14 January 2025)
SA Wareing
(Served from 20 May 2025 to 23 January 2026)
William R Llewellyn
(Appointed 23 January 2026)
C Fife-Schaw
(Appointed 23 January 2026)
A Whapshott
(Appointed 23 January 2026)
Independent examiner
Sam McManners BA ACA
269 Farnborough Road
Farnborough
Hampshire
GU14 7LY
Structure, governance and management
The policies and procedures for the induction and training of trustees Trustees are given an induction on assuming their role. They are provided with a Trustees guide supplied by the Charity Commission, and they are also advised to follow guidance on the Charity Commission website. Attendance at formal Charity training is also recommended.
How the charity makes decisions and how decisions are delegated
The committee has Terms of Reference and a set of guidelines approved by the Board of Trustees.
Objectives and activities
The objects of the charity are as follows:
- The promotion of the efficient of the Armed Forces of the Crown by the provision of facilities for the sport of sailing and other water sports
- The promotion of community participation in healthy recreation by the provision of the facilites for the sport of sailing and other sports
- The advancement of education and training by the provision of facilities for the sport of sailing and other water sports.
HLSTC provides public benefit by assisting service personnel to more effectively perform their roles within the Armed Forces of the Crown. It does this by providing and supporting sporting and adventure training activities. This assistance enables service personnel to face the challenges and dangers associated with military service by developing and maintaining teamwork, skills, fitness, confidence, character, spirit, attitude and morale.
As a result HLSTC promotes the efficiency of the Armed Forces of the Crown by enhancing the British Army's capability to undertake the roles demanded of it including the defence of the United Kingdom and its interests.
HLSTC provides public benefit by educating and training for young people, in the sport of sailing and other watersports.
It is confirmed that due regard has been paid to the Charity Commission of England and Wales's guidance on public benefit when deciding what activities the Charity should undertake.
Achievements and performance
During the year the charity
- Ran a successful programme of RYA activities across the season in sailing and powerboating to
achieve recognised qualifications - Ran a number of team cohesion activities and
events for local and regional Armed Forces units - Hosted a number of Army
Cadet and RAF Cadet AT through the Summer from local and regional areas
The RYA course bookings remained fairly stable, but cost of living is putting pressure on the consumer market. Membership levels remained fairly stable compared with the prior year.
Financial review
The total income of the charity amounted to £186,646 (2024: £188,648) with £184,929 (2024:£188,648) coming from the provision of training courses and access to the lake facilities, together with bar sales and event hire. Expenditure during the year amounted to £222,681 (2024: £204,873). There was a deficit in the year amounting to £36,035 (2024: £16,225).
At the end of the year the charity had reserves totalling £141.518 (2024: £177.553), with cash of £69,707 (2024: £78,991).
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 29 July 2026 and signed on behalf of the board of trustees by:
C Fife-Schaw
Trustee
Hawley Lake Sail Training Centre
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Hawley Lake Sail Training Centre
Year ended 31 October 2025
I report to the trustees on my examination of the financial statements of Hawley Lake Sail Training Centre ('the charity') for the year ended 31 October 2025.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the 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 charity as required by section 386 of the 2006 Act; or
2. the financial statements do not accord with those records; or
3. the financial statements 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 financial statements 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.
Sam McManners BA ACA Independent Examiner
269 Farnborough Road Farnborough Hampshire GU14 7LY
29 July 2026
Hawley Lake Sail Training Centre
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 October 2025
2025
2024
Unrestricted funds
Total funds
Total funds
Note
£
£
£
Income and endowments
Donations and legacies
5
875
875
324
Charitable activities
6
184,929
184,929
187,391
Investment income
7
842
842
933
---------
---------
---------
Total income
186,646
186,646
188,648
---------
---------
---------
Expenditure
Expenditure on raising funds:
Costs of other trading activities
8
( 46,558)
( 46,558)
( 61,946)
Expenditure on charitable activities
9,10
( 176,123)
( 176,123)
( 142,927)
---------
---------
---------
Total expenditure
( 222,681)
( 222,681)
( 204,873)
---------
---------
---------
---------
---------
---------
Net expenditure and net movement in funds
( 36,035)
( 36,035)
( 16,225)
---------
---------
---------
Reconciliation of funds
Total funds brought forward
177,553
177,553
193,778
---------
---------
---------
Total funds carried forward
141,518
141,518
177,553
---------
---------
---------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Hawley Lake Sail Training Centre
Company Limited by Guarantee
Statement of Financial Position
31 October 2025
2025
2024
Note
£
£
Fixed assets
Tangible fixed assets
16
84,832
109,135
Current assets
Stocks
17
972
1,111
Debtors
18
10,185
4,063
Cash at bank and in hand
69,707
78,991
--------
--------
80,864
84,165
Creditors: amounts falling due within one year
19
24,178
15,747
--------
--------
Net current assets
56,686
68,418
---------
---------
Total assets less current liabilities
141,518
177,553
---------
---------
Net assets
141,518
177,553
---------
---------
Funds of the charity
Unrestricted funds
141,518
177,553
---------
---------
Total charity funds
20
141,518
177,553
---------
---------
For the year ending 31 October 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 29 July 2026 , and are signed on behalf of the board by:
C Fife-Schaw
Trustee
Hawley Lake Sail Training Centre
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 October 2025
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Hawley Lake Sail Training Centre , 3 Rsme Regiment - Gibraltar Barracks, Blackwater, Camberley, GU17 9LP, Surrey.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
No cash flow statement has been presented for the company
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year have been considered by the trustees.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. / financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
4. Limited by guarantee
The charity is under the control of its legal members.
5. Donations and legacies
Unrestricted Funds
Total Funds 2025
Unrestricted Funds
Total Funds 2024
£
£
£
£
Donations
Donations under £1,000
875
875
324
324
----
----
----
----
6. Charitable activities
Unrestricted Funds
Total Funds 2025
Unrestricted Funds
Total Funds 2024
£
£
£
£
Sale of goods/services as part of direct charitable activities
184,929
184,929
187,391
187,391
---------
---------
---------
---------
7. Investment income
Unrestricted Funds
Total Funds 2025
Unrestricted Funds
Total Funds 2024
£
£
£
£
Bank interest
842
842
933
933
----
----
----
----
8. Costs of other trading activities
Unrestricted Funds
Total Funds 2025
Unrestricted Funds
Total Funds 2024
£
£
£
£
Costs of other trading activities - Operating trading company
46,558
46,558
61,946
61,946
--------
--------
--------
--------
9. Expenditure on charitable activities by fund type
Unrestricted Funds
Total Funds 2025
Unrestricted Funds
Total Funds 2024
£
£
£
£
Support costs
176,123
176,123
142,927
142,927
---------
---------
---------
---------
10. Expenditure on charitable activities by activity type
Support costs
Total funds 2025
Total fund 2024
£
£
£
Training and Sailing Activity
174,573
174,573
141,427
Governance costs
1,550
1,550
1,500
---------
---------
---------
176,123
176,123
142,927
---------
---------
---------
11. Analysis of support costs
Training and Sailing Activity
Total 2025
Total 2024
£
£
£
Staff costs
106,849
106,849
76,947
Premises
22,609
22,609
20,640
Communications and IT
660
660
610
General office
19,882
19,882
17,366
Depreciation
24,573
24,573
25,864
---------
---------
---------
174,573
174,573
141,427
---------
---------
---------
12. Net expenditure
Net expenditure is stated after charging/(crediting):
2025
2024
£
£
Depreciation of tangible fixed assets
24,573
25,864
--------
--------
13. Independent examination fees
2025
2024
£
£
Fees payable to the independent examiner for:
Independent examination of the financial statements
1,550
1,500
-------
-------
14. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2025
2024
£
£
Wages and salaries
133,147
115,750
---------
---------
The average head count of employees during the year was 6 (2024: 6 ). The average number of full-time equivalent employees during the year is analysed as follows:
2025
2024
No.
No.
Number of staff
6
6
----
----
No employee received employee benefits of more than £60,000 during the year (2024: Nil).
15. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
16. Tangible fixed assets
Plant and machinery
£
Cost
At 1 November 2024
205,852
Additions
270
---------
At 31 October 2025
206,122
---------
Depreciation
At 1 November 2024
96,717
Charge for the year
24,573
---------
At 31 October 2025
121,290
---------
Carrying amount
At 31 October 2025
84,832
---------
At 31 October 2024
109,135
---------
17. Stocks
2025
2024
£
£
Raw materials and consumables
972
–
Finished goods and goods for resale
–
1,111
----
-------
972
1,111
----
-------
18. Debtors
2025
2024
£
£
Prepayments and accrued income
10,185
4,063
--------
-------
19. Creditors: amounts falling due within one year
2025
2024
£
£
Accruals and deferred income
17,574
10,208
Social security and other taxes
6,604
5,539
--------
--------
24,178
15,747
--------
--------
20. Analysis of charitable funds
Unrestricted funds
At 1 November 2024
Income
Expenditure
At 31 October 2025
£
£
£
£
General funds
177,553
186,646
(222,681)
141,518
---------
---------
---------
---------
At 1 November 2023
Income
Expenditure
At 31 October 2024
£
£
£
£
General funds
193,778
188,648
(204,873)
177,553
---------
---------
---------
---------
21. Analysis of net assets between funds
Unrestricted Funds
Total Funds 2025
£
£
Tangible fixed assets
84,832
84,832
Current assets
80,864
80,864
Creditors less than 1 year
(24,178)
(24,178)
---------
---------
Net assets
141,518
141,518
---------
---------
Unrestricted Funds
Total Funds 2024
£
£
Tangible fixed assets
109,135
109,135
Current assets
84,165
84,165
Creditors less than 1 year
(15,747)
(15,747)
---------
---------
Net assets
177,553
177,553
---------
---------