BSAC

The British Sub Aqua Club
Annual Report & Accounts 2005

Contents:

Legal and administrative information

Report of the trustees

Statement of financial activities

Balance sheet

Notes forming part of the financial statements


LEGAL AND ADMINISTRATIVE INFORMATION

TRUSTEES
H Gould OBE JP BA DL FCA (Chairman)
Dr P Cragg BSc PhD (Hon Secretary)
Dr J Bevan PhD (Hon Treasurer)
Dr N C Flemming OBE MA PhD
Dr R M Pagett BSc PhD
G Anthony BSc MSc CChem MRSC
Dr P Bryson MBChB DCH DRCOG MRCGP
R Sutcliffe MAFSA
E F Crook

PRINCIPAL OFFICE
47 Oakfields
Broadacres
Guildford
Surrey
GU3 3AS

BANKERS
HSBC Bank Plc
Baker Street Branch
90 Baker Street
London
W1U 6AX


REPORT OF THE TRUSTEES

The trustees present their report along with the financial statements of the charity for the year ended 31 December 2005. The financial statements have been prepared in accordance with the accounting policies set out on page 7 and comply with the charity's trust deed and applicable law.

Constitution and objects
The British Sub-Aqua Jubilee Trust is constituted under a trust deed dated 3 May 1978 and is a registered charity no 275835R.

The objects of the charity are to establish a Trust for the benefit of the community for the advancement of underwater exploration, discovery of safety health and science and for other kindred purposes.

Organisation
The trustees who have served during the year and since the year end are set out on page 1. Trustees are appointed by the board of trustees and serve for three years after which period they may put themselves forward for re-appointment. The trustees met three times during the year.

Grant making policy
The trust has the right to endow, present, sponsor or maintain prizes and scholarships.

Awards made in 2005
The Trust made 3 awards during 2005 and refused 18.

Projects supported:

Leader	Project
N. Oldham	Erne Estuary Project.
W. Hunter	Artificial Reef, Loch Lyne.
M. Beattie-Edwards	Wreck Map Britain 2006.

Status of grant reports due in the year (from 2004 onwards).
It is a condition of the Award that a report be submitted one year after the grant is made.

Projects supported:

Leader	Project
D. Ball.	Tri services Expedition. Poseidon Feenui Maldives
S. Holyoak.	Oil Platform Life. Brunei.
K. Clarke.	Brighton Marine Archaeology Project.
E. Wood.	Semporna Malaysia Continuation Survey.

Duke of Edinburgh Prize
HRH The Duke of Edinburgh presented the 2005 prize to "Life Beneath the Platforms".

Colin McLeod Award
The 2005 award was made to Honor Frost.

Financial review and investment policy
There are no restrictions on the charity's power to invest.

Reserves policy
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level to ensure there are sufficient funds to cover management, administration and support costs and to respond to emergency applications for grants which may arise from time to time. Unrestricted funds were maintained at this level throughout the year.

Risk management
The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that necessary steps can be taken to lessen these risks.

Trustees' responsibilities in relation to the financial statements
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;
• make judgements and estimates that are reasonable and prudent;
• state whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements; and
• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping accounting records which disclose with reasonable accuracy, at any time, the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


ALL REPORTS DUE HAVE BEEN RECEIVED BY THE TRUST


H GOULD
CHAIRMAN OF THE TRUSTEES

P CRAGG
HONORARY SECRETARY

15TH February 2006


STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2005

		2005		2004
	Notes	£	£	£	£
INCOME
Donations	1	4,921		7,692
Interest	2	6,007		5,153
			10,928		12,845
EXPENSES
Grants made in year	3	4,800		3,850
Expenses	4	132		497
			4,932		4,347
EXCESS OF INCOME OVER EXPENDITURE			5,996		8,498

All of the above activities relate to unrestricted funds.

All income and the operating excess derive from continuing operations.

All recognised gains and losses are included in the Income & Expenditure Account.

A separate movement of Trustee's Funds Statement is not provided, as there are no changes for the current or previous year other than the retained excess in the Income & Expenditure Account.


BALANCE SHEET
AS AT 31 DECEMBER 2005

	2005	2004
	£	£
CURRENT ASSETS
Cash at Bank:-
Money market	158,236	149,999
Current Account	2,517	758
	160,753	150,757
Liabilities
Grants	4,000	-
NET ASSETS	156,753	150,757
ACCUMULATED FUND
Balance at 1 January	150,757	142,259
Excess of funds for the year	5,996	8,498
Balance at 31 December 2004	156,753	150,757

APPROVED BY THE TRUSTEES AND SIGNED ON THEIR BEHALF BY


H GOULD
CHAIRMAN OF THE TRUSTEES

15TH February 2006

---

NOTES FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2005


1. Principal accounting policies

a} Basis of accounting
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2005). In preparing the financial statements the charity follows best practice as laid down in the Statement of Recommended Practice "Accounting and Reporting by Charities" (SORP 2000) issued in October 2000.

b} Income from investments
Investment income is accounted for in the period in which the charity is entitled to receipt.

c} Income from donations
Donations are included in the Income & Expenditure Account in the period to which the income is received.

d} Grants payable
Grants are included in the Income & Expenditure Account in the period in which they are awarded.

e} Computer equipment
Computer equipment acquired is debited to the Income and Expenditure Account in the year of purchase.

2. Investment income

	2005	2004
	£	£
Interest on cash deposits	6,007	5,153

All of the above are derived from the UK.


3. Grants payable
The amount payable in the year comprises:

	2005	2004
	£	£
Tri Service Expedition Poseidon Feenui Maldives	-	600
Oil Platform Life Brunei	-	1,500
Brighton Marine Archaeology Project	-	1,000
Semporna Malaysia Continuation Survey	-	750
Erne Estuary Project	800	-
Artificial Reef. Loch Line	2,000	-
Wreck Map Britain 2006	2,000	-
	_____	_____
	4,800	3,850
	_____	_____

4. Support costs

	2005	2004
	£	£
Computer expenses and postage	132	497