21. RYA FOUNDATION
The RYA Foundation is the charitable arm of the Association. Its trustees have a remit to promote participation in boating by those who are disadvantaged by reason of youth, age, infirmity or disability, financial hardship or social circumstances. As stated in Note 1(c) the Association is the sole member of the RYA Foundation, a charitable Company limited by guarantee.
2021 £
Net deficit for the year ended 31st March Total funds carried forward as at 31st March
(4,636) 85,221
2020 £
(75,351) 89,857
The Association provides administrative support to assist the RYA Foundation in carrying out its activities at no charge. During the year, the Association received donations and legacies totalling £3,203 from our members and the public that were subsequently paid to the RYA Foundation (2020: £44,057).
22. LIABILITY OF MEMBERS
Every full member of the Association undertakes to contribute to the assets of the Association, in the event of the same being wound up while they are a member or within one year after they cease to be a member, for payment of the debts and liabilities of the Association contracted before they ceased to be a member, and of the costs, charges, and expenses of winding up, and for the adjustment of the rights of the contributors among themselves, such amount as may be required not exceeding £1. The number of members of all categories at 31st March 2021 was 105,338 (2020: 112,809).
23. RELATED PARTY TRANSACTIONS
During the year grants totalling £22,770 (2020: £25,900) were made to a close family member of a director of the Association. These grants were provided in accordance with the Association’s normal policies and procedures subject to the rules governing World Class Programme funding of which the recipient is a member.
RYA ANNUAL REPORT AND ACCOUNTS 2021
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