REPORTS AND FINANCIAL STATEMENTS
CRUISING ASSOCIATION OF IRELAND
FOR THE YEAR ENDED 31 DECEMBER 2016
1
CRUISING ASSOCIATION OF IRELAND
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
CONTENTS
PAGE
GENERAL INFORMATION 2
COMMODORE’S REPORT 3 - 4
DECLARATION OF COMMITTEE MEMBERS 5
ACCOUNTANT’S REPORT 6
ACCOUNTING POLICIES 7
INCOME AND EXPENDITURE ACCOUNT 8
BALANCE SHEET 9
NOTES TO THE FINANCIAL STATEMENTS 10
2
CRUISING ASSOCIATION OF IRELAND
GENERAL INFORMATION
COMMITTEE Clifford Brown - Commodore
John Leahy (Honorary Secretary)
John McInerney (Honorary Treasurer)
Fred McCollum (Membership Secretary)
Pierce Purcell (Vice Commodore)
John Connolly
Mike Medcalf
Dennis Woods
Charlie Kavanagh
Liam Schweppe
BANKERS Bank of Ireland
University Branch
Montrose
Dublin 4
ACCOUNTANTS Russell Brennan Keane Business Advisers
Chartered Accountants
Boole House
Beech Hill Office Campus
Beech Hill Road
Clonskeagh
Dublin 4
3
CRUISING ASSOCIATION OF IRELAND
COMMODORE’S REPORT
The CAI continues to grow and this is due to the hard work of the committee and our success in organising a
varied calendar of events for members. Membership now stands at 117 and this is spread across many sailing
clubs. The CAI is in a healthy financial state with good control over expenditure. It is the intention of the
CAI committee to continue to expand the association as a national body and support cruising activities under
our burgee.
Sailing Events
2016 was a good year for the CAI with only one of our events cancelled due to adverse weather. The season
commenced with the Kish Muster in April and despite windy weather, three boats rounded the Kish Light
and a total of five stayed overnight at the National Yacht Club.
In May the AGM was held in Greystones Sailing Club and there was an excellent attendance with over 60
partaking of dinner and hospitality in the new clubhouse. We are very grateful to David Nixon, Commodore
of GSC, and the members of the club who ensured we had a very good night. We also were made very
welcome by Alan Corr, the marina manager in Greystones, who helped us raft 13 boats for the weekend.
The main cruise of the summer was to the Menai Strait and 12 boats enjoyed a very successful and
entertaining cruising holiday. The fleet visited Holyhead, Deganwy, Menai Bridge, Port Dinorwic and
Caernavon. The crossing of the Irish Sea to Holyhead was a little unpleasant with lumpy seas but the intrepid
sailors endured and were rewarded with fine sailing conditions for the rest of the cruise. This cruise was very
family orientated with many fine young sailors who were awarded with special certificates of achievement
(thanks to Bryan and Anne Downey for this). The fleet was welcomed in all marinas and in the Royal Welsh
Yacht Club in Caernafon.
The August weekend cruise to Arklow fell victim to bad weather and was cancelled. We had hoped to have
some sailors from the West on this cruise and hopefully it will run again in 2017.
In September we held our annual Liffey cruise which was named ‘The Three Bridges Cruise’ by Pat
Murphy. We had 36 vessels taking part in this weekend event. The committee worked closely with the
Dublin Port Authority and Sail Training Ireland to make the event a success. The bridges on the Liffey were
opened to allow a parade of sail on the river. Boats were very well dressed for this occasion. This event
received an excellent report in Afloat magazine. On the Saturday night a dinner took place on the Cill Airne
with over 100 guests to celebrate the cruise with good food and music.
Feedback on our events is very positive and we are very keen to encourage sailors of all ages and experience
to join in our activities. Cruising in company builds confidence in sailing and fosters new friendships. The
beauty of the marine environment, wildlife and weather are best appreciated as shared experiences.
Conferences and Other Activities
The committee continues to work to increase the national profile of the CAI and is very much indebted to
Pierce Purcell (Vice Commodore West) and Gail McAllister of the ISA. The cruise to the Aran Islands
organised by Pierce was cancelled due to bad weather. Some of the CAI members had hoped to take part on
this cruise and hopefully we can collaborate again in 2017.
CAI sponsored the Galway Sea Scouts with a financial donation to help them in restoring a cruiser which
will be used for training purposes. Pierce presented the cheque and organised some local reporting in the
regional press in Galway.
4
CRUISING ASSOCIATION OF IRELAND
COMMODORE’S REPORT
The CAI also gave financial support to the ISA cruising conference which was held in Cork in February
2017. Gail is very helpful in promoting the CAI within the ISA and at their events. The Hon. Secretary, John
Leahy, gave a presentation to the conference on Weather which was very interesting and well received. The
Commodore organised a CAI dinner for attendees at the conference and 15 people attended. The conference
led to new members joining the CAI.
In March a seminar and dinner was organised in the Royal Irish Yacht Club. This event was well attended
with 26 participants. There were presentations on the activities of the CAI, weather in Ireland and the work
of the RNLI. There was interesting discussion during the presentations and a fine dinner was enjoyed in the
club that evening.
The committee redeveloped the website for the CAI to make it user friendly and to provide useful weather
and tidal information. Eventbrite is used to register for events and this allows the committee to plan with
marinas and caterers to ensure successful operation of events.
As Commodore I thank wholeheartedly our committee who give freely of their time to organize our
activities and keep our association vibrant. We meet regularly throughout the year to address issues of
interest to members and to organise and promote our events. I also thank those who participate in our
activities and keep our spirit of camaraderie very much alive. I especially my gratitude to Aidan Coughlan
and Simon Parker for assistance with the Liffey cruise this year and for Aidan and Oonagh for stunning
photography they shared.
I hope to see you during 2017 at some of our planned activities and I encourage you to contact the committee
with ideas and suggestions for future years.
…………………………
Clifford Brown
Commodore
Date: ………………………
5
CRUISING ASSOCIATION OF IRELAND
DECLARATION OF COMMITTEE MEMBERS
We approve the financial statements, for the year ended 31 December 2016, set out on pages 7 to 10, and
confirm that we have made available to Russell Brennan Keane Business Advisers, Chartered Accountants, all
relevant records and information necessary for their preparation.
To the best of our knowledge, the financial statements reflect all the transactions entered into by the Cruising
Association of Ireland in the period covered by these financial statements.
Signed on behalf of the Committee:
…………………… ……………………
Clifford Brown John McInerney
Commodore Hon. Treasurer
Date: ………………..
6
CRUISING ASSOCIATION OF IRELAND
ACCOUNTANTS' REPORT
In accordance with our engagement letter dated 30 March 2017, we have compiled the financial information of
the Cruising Association of Ireland, which comprises the Income and Expenditure Account, the Balance Sheet
and the related notes 1 and 2 from the accounting records and information and explanations you have given to
us.
The Income and Expenditure Account, Balance Sheet and related notes have been compiled on the basis of the
Statement of Accounting Policies on page 7.
This report is made to you, in accordance with the terms of our engagement. Our work has been undertaken so
that we might compile the Income and Expenditure Account, Balance Sheet and related notes that we have
been engaged to compile, report to you that we have done so, and state those matters that we have agreed to
state to you in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or
assume responsibility to anyone other than the Cruising Association of Ireland, for our work, or for this report.
We have carried out this engagement in accordance with M48 – “Chartered Accountants’ Reports on the
Compilation of Historical Information of Unincorporated Entities” issued by the Institute of Chartered
Accountants in Ireland and have complied with the Rules of Professional Conduct and the ethical guidance laid
down by the Institute.
You have approved the Income and Expenditure Account, Balance Sheet and related notes for the year ended
31 December 2016 and have acknowledged your responsibility for it, for the appropriateness of the accounting
basis and for providing all information and explanations necessary for its compilation.
We have not verified the accuracy or completeness of the accounting records or information and explanations
you have given us and we do not, therefore, express any opinion on the financial statements.
………………………………………………
Russell Brennan Keane Business Advisers
Chartered Accountants
Boole House
Beech Hill Office Campus
Beech Hill Road
Clonskeagh
Dublin 4
Date: …………………..
7
CRUISING ASSOCIATION OF IRELAND
ACCOUNTING POLICIES
1. ACCOUNTING CONVENTION
The financial statements are prepared in accordance with generally accepted accounting principles
under the historical cost convention and comply with the financial reporting standards of the
Accounting Standards Board as promulgated by the Institute of Chartered Accountants in Ireland.
2. INCOME
Income has been accounted for on a cash receipts basis. Membership subscriptions are payable in
January for each calendar year. The first subscriptions received from new members on joining after 30
September are treated as being in respect of the calendar year commencing the following January.
3. STOCKS
Stocks are valued at the lower of cost and net realisable value.
8
CRUISING ASSOCIATION OF IRELAND
INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2016
2016 2015
€ €
INCOME
Membership subscriptions 3,502 3,307
Sale of merchandise 214 -
3,716 3,307
Cost of sales (317) -
Total income 3,399 3,307
EXPENDITURE
Website costs 973 149
Events and promotions 2,837 1,549
Insurance 560 550
Bank charges 245 109
Accounting fees 485 492
Irish Sailing Association affiliation fee 200 200
General expenses - -
Total expenditure 5,300 3,049
(Deficit) / Surplus for the year (1,901) 258
We approve these financial statements and confirm that we have made available all relevant information for
their preparation.
On behalf of the Committee on ………………….. by:
…………………… ……………………
Clifford Brown John McInerney
Commodore Hon. Treasurer
9
CRUISING ASSOCIATION OF IRELAND
BALANCE SHEET AS AT 31 DECEMBER 2016
2016 2015
Notes € €
CURRENT ASSETS
Stock 1 555 842
Cash at bank and in hand 7,272 8,862
7,827 9,704
CREDITORS 2 (685) (661)
TOTAL NET ASSETS 7,142 9,043
FINANCED BY:
Accumulated funds at
beginning of the year 9,043 8,785
Deficit for the year (1,901) 258
7,142 9,043
We approve these financial statements and confirm that we have made available all relevant information for
their preparation.
On behalf of the Committee on …………………. by:
…………………… ……………………
Clifford Brown John McInerney
Commodore Hon. Treasurer
10
CRUISING ASSOCIATION OF IRELAND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
1. STOCK 2016 2015
€ €
Stock of merchandise 555 842
The replacement value of stocks is not considered materially different from their Balance Sheet value.
2. CREDITORS 2016 2015
€ €
Accruals 685 661
CRUISING ASSOCIATION OF IRELAND
FOR THE YEAR ENDED 31 DECEMBER 2016
1
CRUISING ASSOCIATION OF IRELAND
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
CONTENTS
PAGE
GENERAL INFORMATION 2
COMMODORE’S REPORT 3 - 4
DECLARATION OF COMMITTEE MEMBERS 5
ACCOUNTANT’S REPORT 6
ACCOUNTING POLICIES 7
INCOME AND EXPENDITURE ACCOUNT 8
BALANCE SHEET 9
NOTES TO THE FINANCIAL STATEMENTS 10
2
CRUISING ASSOCIATION OF IRELAND
GENERAL INFORMATION
COMMITTEE Clifford Brown - Commodore
John Leahy (Honorary Secretary)
John McInerney (Honorary Treasurer)
Fred McCollum (Membership Secretary)
Pierce Purcell (Vice Commodore)
John Connolly
Mike Medcalf
Dennis Woods
Charlie Kavanagh
Liam Schweppe
BANKERS Bank of Ireland
University Branch
Montrose
Dublin 4
ACCOUNTANTS Russell Brennan Keane Business Advisers
Chartered Accountants
Boole House
Beech Hill Office Campus
Beech Hill Road
Clonskeagh
Dublin 4
3
CRUISING ASSOCIATION OF IRELAND
COMMODORE’S REPORT
The CAI continues to grow and this is due to the hard work of the committee and our success in organising a
varied calendar of events for members. Membership now stands at 117 and this is spread across many sailing
clubs. The CAI is in a healthy financial state with good control over expenditure. It is the intention of the
CAI committee to continue to expand the association as a national body and support cruising activities under
our burgee.
Sailing Events
2016 was a good year for the CAI with only one of our events cancelled due to adverse weather. The season
commenced with the Kish Muster in April and despite windy weather, three boats rounded the Kish Light
and a total of five stayed overnight at the National Yacht Club.
In May the AGM was held in Greystones Sailing Club and there was an excellent attendance with over 60
partaking of dinner and hospitality in the new clubhouse. We are very grateful to David Nixon, Commodore
of GSC, and the members of the club who ensured we had a very good night. We also were made very
welcome by Alan Corr, the marina manager in Greystones, who helped us raft 13 boats for the weekend.
The main cruise of the summer was to the Menai Strait and 12 boats enjoyed a very successful and
entertaining cruising holiday. The fleet visited Holyhead, Deganwy, Menai Bridge, Port Dinorwic and
Caernavon. The crossing of the Irish Sea to Holyhead was a little unpleasant with lumpy seas but the intrepid
sailors endured and were rewarded with fine sailing conditions for the rest of the cruise. This cruise was very
family orientated with many fine young sailors who were awarded with special certificates of achievement
(thanks to Bryan and Anne Downey for this). The fleet was welcomed in all marinas and in the Royal Welsh
Yacht Club in Caernafon.
The August weekend cruise to Arklow fell victim to bad weather and was cancelled. We had hoped to have
some sailors from the West on this cruise and hopefully it will run again in 2017.
In September we held our annual Liffey cruise which was named ‘The Three Bridges Cruise’ by Pat
Murphy. We had 36 vessels taking part in this weekend event. The committee worked closely with the
Dublin Port Authority and Sail Training Ireland to make the event a success. The bridges on the Liffey were
opened to allow a parade of sail on the river. Boats were very well dressed for this occasion. This event
received an excellent report in Afloat magazine. On the Saturday night a dinner took place on the Cill Airne
with over 100 guests to celebrate the cruise with good food and music.
Feedback on our events is very positive and we are very keen to encourage sailors of all ages and experience
to join in our activities. Cruising in company builds confidence in sailing and fosters new friendships. The
beauty of the marine environment, wildlife and weather are best appreciated as shared experiences.
Conferences and Other Activities
The committee continues to work to increase the national profile of the CAI and is very much indebted to
Pierce Purcell (Vice Commodore West) and Gail McAllister of the ISA. The cruise to the Aran Islands
organised by Pierce was cancelled due to bad weather. Some of the CAI members had hoped to take part on
this cruise and hopefully we can collaborate again in 2017.
CAI sponsored the Galway Sea Scouts with a financial donation to help them in restoring a cruiser which
will be used for training purposes. Pierce presented the cheque and organised some local reporting in the
regional press in Galway.
4
CRUISING ASSOCIATION OF IRELAND
COMMODORE’S REPORT
The CAI also gave financial support to the ISA cruising conference which was held in Cork in February
2017. Gail is very helpful in promoting the CAI within the ISA and at their events. The Hon. Secretary, John
Leahy, gave a presentation to the conference on Weather which was very interesting and well received. The
Commodore organised a CAI dinner for attendees at the conference and 15 people attended. The conference
led to new members joining the CAI.
In March a seminar and dinner was organised in the Royal Irish Yacht Club. This event was well attended
with 26 participants. There were presentations on the activities of the CAI, weather in Ireland and the work
of the RNLI. There was interesting discussion during the presentations and a fine dinner was enjoyed in the
club that evening.
The committee redeveloped the website for the CAI to make it user friendly and to provide useful weather
and tidal information. Eventbrite is used to register for events and this allows the committee to plan with
marinas and caterers to ensure successful operation of events.
As Commodore I thank wholeheartedly our committee who give freely of their time to organize our
activities and keep our association vibrant. We meet regularly throughout the year to address issues of
interest to members and to organise and promote our events. I also thank those who participate in our
activities and keep our spirit of camaraderie very much alive. I especially my gratitude to Aidan Coughlan
and Simon Parker for assistance with the Liffey cruise this year and for Aidan and Oonagh for stunning
photography they shared.
I hope to see you during 2017 at some of our planned activities and I encourage you to contact the committee
with ideas and suggestions for future years.
…………………………
Clifford Brown
Commodore
Date: ………………………
5
CRUISING ASSOCIATION OF IRELAND
DECLARATION OF COMMITTEE MEMBERS
We approve the financial statements, for the year ended 31 December 2016, set out on pages 7 to 10, and
confirm that we have made available to Russell Brennan Keane Business Advisers, Chartered Accountants, all
relevant records and information necessary for their preparation.
To the best of our knowledge, the financial statements reflect all the transactions entered into by the Cruising
Association of Ireland in the period covered by these financial statements.
Signed on behalf of the Committee:
…………………… ……………………
Clifford Brown John McInerney
Commodore Hon. Treasurer
Date: ………………..
6
CRUISING ASSOCIATION OF IRELAND
ACCOUNTANTS' REPORT
In accordance with our engagement letter dated 30 March 2017, we have compiled the financial information of
the Cruising Association of Ireland, which comprises the Income and Expenditure Account, the Balance Sheet
and the related notes 1 and 2 from the accounting records and information and explanations you have given to
us.
The Income and Expenditure Account, Balance Sheet and related notes have been compiled on the basis of the
Statement of Accounting Policies on page 7.
This report is made to you, in accordance with the terms of our engagement. Our work has been undertaken so
that we might compile the Income and Expenditure Account, Balance Sheet and related notes that we have
been engaged to compile, report to you that we have done so, and state those matters that we have agreed to
state to you in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or
assume responsibility to anyone other than the Cruising Association of Ireland, for our work, or for this report.
We have carried out this engagement in accordance with M48 – “Chartered Accountants’ Reports on the
Compilation of Historical Information of Unincorporated Entities” issued by the Institute of Chartered
Accountants in Ireland and have complied with the Rules of Professional Conduct and the ethical guidance laid
down by the Institute.
You have approved the Income and Expenditure Account, Balance Sheet and related notes for the year ended
31 December 2016 and have acknowledged your responsibility for it, for the appropriateness of the accounting
basis and for providing all information and explanations necessary for its compilation.
We have not verified the accuracy or completeness of the accounting records or information and explanations
you have given us and we do not, therefore, express any opinion on the financial statements.
………………………………………………
Russell Brennan Keane Business Advisers
Chartered Accountants
Boole House
Beech Hill Office Campus
Beech Hill Road
Clonskeagh
Dublin 4
Date: …………………..
7
CRUISING ASSOCIATION OF IRELAND
ACCOUNTING POLICIES
1. ACCOUNTING CONVENTION
The financial statements are prepared in accordance with generally accepted accounting principles
under the historical cost convention and comply with the financial reporting standards of the
Accounting Standards Board as promulgated by the Institute of Chartered Accountants in Ireland.
2. INCOME
Income has been accounted for on a cash receipts basis. Membership subscriptions are payable in
January for each calendar year. The first subscriptions received from new members on joining after 30
September are treated as being in respect of the calendar year commencing the following January.
3. STOCKS
Stocks are valued at the lower of cost and net realisable value.
8
CRUISING ASSOCIATION OF IRELAND
INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2016
2016 2015
€ €
INCOME
Membership subscriptions 3,502 3,307
Sale of merchandise 214 -
3,716 3,307
Cost of sales (317) -
Total income 3,399 3,307
EXPENDITURE
Website costs 973 149
Events and promotions 2,837 1,549
Insurance 560 550
Bank charges 245 109
Accounting fees 485 492
Irish Sailing Association affiliation fee 200 200
General expenses - -
Total expenditure 5,300 3,049
(Deficit) / Surplus for the year (1,901) 258
We approve these financial statements and confirm that we have made available all relevant information for
their preparation.
On behalf of the Committee on ………………….. by:
…………………… ……………………
Clifford Brown John McInerney
Commodore Hon. Treasurer
9
CRUISING ASSOCIATION OF IRELAND
BALANCE SHEET AS AT 31 DECEMBER 2016
2016 2015
Notes € €
CURRENT ASSETS
Stock 1 555 842
Cash at bank and in hand 7,272 8,862
7,827 9,704
CREDITORS 2 (685) (661)
TOTAL NET ASSETS 7,142 9,043
FINANCED BY:
Accumulated funds at
beginning of the year 9,043 8,785
Deficit for the year (1,901) 258
7,142 9,043
We approve these financial statements and confirm that we have made available all relevant information for
their preparation.
On behalf of the Committee on …………………. by:
…………………… ……………………
Clifford Brown John McInerney
Commodore Hon. Treasurer
10
CRUISING ASSOCIATION OF IRELAND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
1. STOCK 2016 2015
€ €
Stock of merchandise 555 842
The replacement value of stocks is not considered materially different from their Balance Sheet value.
2. CREDITORS 2016 2015
€ €
Accruals 685 661
