Honorary SecretaryRoyal Engineer Yacht ClubICSC (L) 12bJSCSCDefence AcademyShrivenhamSN6 8LA

Tel: 07855 324212Email: reyc@live.co.uk

CommodoreTrusteesFlag OfficersREYC Committee Members

Copy to:

Hon Rear CommodoresREYC Members

Reference: REYC/Sec/AGM Minutes

Date: 11 Mar 16

MINUTES OF THE ROYAL ENGINEER YACHT CLUB ANNUAL GENERAL MEETING HELD IN CHATHAM STATION AUDITORIUM, FRIDAY 11 MARCH 2016

Present Col C S E Thackway MBECol J A HonesLt Col L Jackson REBrig (Retd) D R ff InnesCol (Retd) A R M Wilson

CommodoreCommodore (Des)Vice CommodoreTrusteeTrustee

Chairman

Col (Retd) P M Davies MBELt Col G P Hatcher OBE REMaj B W D Whishaw REWO2 (SSM) CurryLt Col (Retd) A F M DouglasLt Col J J Roose REMaj H M M Stamp RECol (Retd) J D C AndersonCol (Retd) R C Hendicott MBECol (Retd) N E Montagu

Brig (Retd) P M Hill OBECol (Retd) C M Davies MBELt Col S Finch RELt Col (Retd) P ClarkeLt Col (Retd) R Dudin MBELt Col (Retd) T GreatheadMaj M T Smith REMaj R Duke REMaj O Donaghy REWO2 (QMSI) J WestWO2 (V) E MorrisonSSgt D SpeakmanCpl A HearnSpr J O’BrienSpr J ReeveSpr (Retd) Stuart HurstMr P DaviesMr Ken Gorton

Rear Commodore (Regions)Rear Commodore (Offshore)Rear Commodore (Inshore)Rear Commodore (Inshore) (Des)Membership SecretaryHonorary TreasurerHonorary SecretaryHonorary Rear CommodoreHonorary Rear CommodoreHonorary Rear Commodore

Sec

1

In attendance

Apologies

Mr A HearnMr Greg HillMr Clinton LyonMr John ReidMr Dennis Watkins

Surg Cdr T Bucknill RDMrs A BucknillMr R Bucknill

Brig Retd) A P CarruthCol (Retd) D M Gill MBELt Col (Retd) M H H Brooke OBEMaj S J Hart REMaj K Nixon REMr P J Polley

Honorary Rear Commodore

Property & Silver member

ActionItem 1 – Introduction and election of new Cdre

1. Cdre thanked all for attending the AGM, noting that it was good to see so many members. Cdre introduced guests Surg Cdr T Bucknill RD, Mrs A Bucknill and Mr R Bucknill who are generously presenting the REYC with the Bucknill Trophy, as briefed by Lt Col (Retd) P Clarke later in the AGM. The Cdre noted that he had now retired from the Army and it was hoped to elect his successor at the end of the meeting.

Item 2 – Minutes of recent meetings

2. The minutes for the AGM on 31 Mar 15 were accepted as a true and accurate account. Proposed by SSgt D Speakman, seconded by Brig (Retd) D Innes. Carried.

Item 3 – Matters Arising from previous minutes

3. Para 18. – Townsend Trust (TT). Brig (Retd) D Innes commented that the intention for the TT is to encourage young soldiers to learn to sail, not just to support offshore sailing.

Item 4 – Commodore’s Report

4. 2015 was an excellent year for sailing within the REYC. Highlights were retaining the Dolphin Trophy for the 2nd year running, a successful RESTW and the Lymington Meet. In addition, the REYC put in some good entries for the Fastnet Race.

5. On the Inshore side, dinghy sailing has declined over the last couple of years but the main committee are looking at ways to increase participation. Windsurfing was going well under the direction of WO2 (SSM) Curry.

6. Hebe has now been accepted into the Offshore fleet and would be available for charter this year. Ragna has been sold for £24,490, which was slightly less than had been anticipated. A sound 2009 built J109 had been purchased for £75,000, against a budget of £130,000 approved at the 2015 AGM for the purchase and refurbishment of a J109 and de-tuning of Ilex. The name chosen (after an email poll to all members) for the J109 was Trojan.

2

Trojan has been refurbished and re-equipped for MCA coding and racing in-class and offshore. During this season and next, she will be campaigned in the Solent and elsewhere so that she will be fully worked up for the 2017 Fastnet Race.

7. There have been many changes to the main committee and the Cdre expressed his thanks for all their hard work.

8. Changes to Corps Sports policy were published this year: 22 Engineer Regiment is now the sponsor unit for Offshore sailing and 3 RSME Regiment for Inshore sailing. This is due both to historical links from each discipline to each Regiment and geography, as they are close to the facilities at Gosport and the AISTC respectively. The intention for this year is to continue to reinforce these relationships.

9. Finances are looking healthy with uplift in our grant from the Corps. More detail will follow later from the Treasurer.

10. Ownership changes, MCA Coding and Registration of the yachts was in hand and once finalised, the Registration Certificate would be held by the Corps Secretary.

11. Overall membership has stayed the same, although the balance has tipped towards more retired than serving members. The AGM would be asked to vote for a change in the rules on membership.

12. A Chatham Sailing Requirements Working Group, under the VCdre, is to be established to examine the future requirements for REYC in Chatham the management of the moorings and the most appropriate way in which to integrate the finances of the Chatham Branch with those of the rest of the REYC. The Cdre would like the Chatham Branch to be involved in the WG and directed that the WG should report back to the Main Committee in September 2016.

13. The ASA Cdre, Lt Gen J I Bashall, was using his influence within the Army, and he is a strong advocate of sailing. With the closure of BKYC, there may be some infrastructure changes in Gosport, but the ASA footprint in Fort Blockhouse is unlikely to change significantly. The AISTC has had a lot of investment and is now an excellent facility. The Club must stay synchronised with the ASA as it drives sailing forward.

Item 5 – Vice Commodore’s Report

14. The VCdre briefed that it had been a successful year, during which a lot had been achieved, especially in Offshore and Windsurfing. There was a need to highlight the successes more; indeed the Corps has directed that the Club needs to focus its efforts on better advertising.

15. Membership amongst serving soldiers and officers needed to be improved and there are schemes afoot to tackle this; more to follow from the Membership Secretary.

16. The VCdre’s main role was to oversee finances. The purchase of Trojan had been a success, and the main account was in a healthy position. The Club should be in a good position in 4-5 years when it was hoped to buy another hull. The Corps grant has been raised to £14,000 for the next couple of years. The ASA would be supporting the club to the tune of £45,000. The legacy Gift Aid issues have been solved and it is hoped to utilise a grant from H&M Trust. The capitalisation of the H&M Trust offer has been limited, and the Main Committee is now looking at how it could spend this to increase

Hon SecRC (O)

VCdreRC (R)

3

young soldier and officer take up.

17. The bye-laws of the constitution were updated last year. However these would be re-examined during this year and any changes put to the AGM in 2017.

18. The REYC is the only Corps club running 4 boats, and therefore in a privileged position. The future focus is to concentrate on RESTW to generate interest in the club, and to reinvigorate dinghy sailing.

19. BKYC is closing this year, which will mark the end of a long relationship between the REYC and the BKYC. The Spleith Regatta in Aug 16 will be the last regatta, and there will be a flotilla in Sep/Oct to come back from Kiel with a parade at Gosport.

20. The JSASTC are short of Nicholson 55 skippers. Many of the pre-training requisites are being waivered for this year, therefore anyone interested should contact JSASTC.

Item 5a – Finance

21. Honorary Treasurer thanked the accountant, Mr P Hopper at 3 RSME Regiment for his continued assistance. The main accounts were presented to the AGM and can be found at Annex A. Interest rates have fallen and the income the REYC obtains from this area has diminished. The Honorary Treasurer will look into ways to see how this can be improved.

22. Audit of the main account was on 31 Jan 16. The net value of the REYC was £295,463 including property. The Honorary Treasurer noted two caveats: The main property book currently only shows the 4 offshore hulls, and does not include the Inshore equipment and other items; the Honorary Treasurer will look at this in detail. The estimated value of Hebe was not presently shown on the books. The overall worth of the club is £316,937.

23. Ragna was sold for £24,490 with a transfer of 46% back to the Townsend Trust (TT).

24. Trojan purchase was £77,500 and the club agreed a race preparation budget of £20,000. An interest free loan, repayable over 5 years from the TT, allows the upfront preparation costs to make her ready for racing in 2016 to be spread over her early years.

25. Hulls Fund. The Hulls Fund was currently worth £39,447. 10% from charters should go into the Hulls Funds but this had not been paid for the last 2 years; this has now been corrected. Income and expenditure has been forecasted out to 2030. We have had good support from the ASA (£10,000 for refits of the hulls, and £25,000 for the purchase of a new hull in 2020). Figures are detailed at Annex A. The Gift Aid fund is not included in these figures and will be covered by the Membership Secretary.

26. Cdre summed up that the figures were healthy and the forecast out was looking good. Col (Retd) R Wilson mentioned that the £130,000 detailed in the handout included the work for Ilex; this will be covered by RC(O) later.

Item 5b – Townsend Trust Report

27. Col (Retd) J Anderson gave a brief on the TT. The value of the trust had diminished slightly since last year, due to the sale of Ragna (in which the Trust had a 46% share) realising less than had been hoped. The Trustees would be consulting the Cdre during 2016, seeking ideas for the future use of the Trust.

VCdre

Hon Treas

Hon Treas

Cdre

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The Trust’s position is summarised in more detail at Annex B.

28. The Cdre thanked the trustees and added that he was very grateful for the £15,000 loan.

Item 5c - Membership

29. The Membership Secretary briefed the numbers to the AGM, which can be found at Annex C. Full members were the heart and soul of the club, but serving members were diminishing and retired members increasing. However, the retired members brought a lot of money to the club. Overall numbers were stable, but the issue was the same story of recruitment and retention.

30. Redefining the offer was briefed, including the new flyer, which will be sent out with the Yearbook. New membership cards for Registered Members were briefed; these will also be sent out with the Yearbook. Registered members are seen as a way to get people into the club, and the issue of membership cards and a £5 fee were a sensible idea to encourage conversion to Full Membership.

31. Rule Change for Registered members. It was proposed that Registered members should be charged an annual fee of £5, to include a membership card. This would cover the insurance requirement for sailing on the boats. The proposed changes to Rules 7e and 9c are at Annex C. After some discussion, these changes were put to the vote and passed. Proposed by Lt Col (Retd) A Douglas, seconded by Lt Col L Jackson – voted, 1 against, motion is passed.

32. The Cdre thanked the Membership Secretary for all his hard work, especially with regard to the flyers and the membership cards.

Item 6 – Offshore Report

33. Offshore report. RC(O) briefed the offshore report which is at Annex D. 2015 was a good year for Offshore and the Club is proportionally performing well in comparison to other Corps Offshore teams. Highlights of the season were Ex GALLIPOLI led by Maj R Duke, and Ex TRANSGLOBE by Maj M Smith. Trojan was purchased for less than forecast. Considerable expenditure had already been made to ready her for this season. Work was still ongoing but overall costs of the project were expected to be within budget. Offshore division was looking forward to a busy 2016 season.

34. 5 year plan. The development agenda was briefed; areas of focus concerned the ability to have two boats per regiment that could be skippered and crewed, the other area is to try and organise a Sapper Cup. RC(O) will look to refresh the 5 year plan in year 3 as circumstances dictated.

35. The state of the hulls was briefed as per Annex D, including a sail replacement plan and refits for all yachts.

36. Finance. The Offshore Account showed a positive balance of Income over Expenditure for 2015/16; the detail is at Annex D.

37. Usage. Usage statistics collected by the ATIs have been published with the forecast of events.

38. Succession Plan. Succession plans were being developed for the Offshore Committee and the ATIs.

39. The Cdre thanked RC(O) and commented that the signage on Trojan

VCdre

RC (O)

RC(O)

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was fantastic. The Cdre would like a team to go forward to the Services Offshore Regatta, which would reinforce the Club’s position within ASA.

Item 7 – Inshore Report

40. The RC(I) noted that the energy and achievements of the windsurfing section had been commendable. Future intent was to capitalise on the AISTC, Rutland Water, South Cerney and Inshore sailing facilities near Catterick and Kinloss Garrisons. RC(I) briefed that most windsurfers and offshore sailors usually started by dinghy sailing, therefore the focus was to drive energy into this with the intended outcome that they then become either windsurfers or offshore sailors.

Item 8 – Regions Report

41. The RC(R) briefed the regions report, and outlined key dates for activities for the 2016 season. His detailed report is at Annex C.

42. A grant of £250 for the running of Lymington 2016 had been approved by the Main Committee. RC(R) hoped to organise a Regions Rally and asked anyone interested to contact him.

43. The Chatham Branch accounts were briefed by RC(R). The RC(R) briefed the meeting on the Chatham Moorings – the REYC has rights to 48 moorings, but currently only 20 are used by the Chatham Branch. A summary of the financial income and expenditure is at Annex C.

Item 9 – Dinner 2015

44. Details for the dinner were briefed by the Hon Sec.

Item 10 – Colours and Awards for 2014/2015

45. The Honorary Secretary will collate capture of past recipients.

46. Ladies Corps Colours. The current brooch is deemed unacceptable as a Corps Colour for female members. The Honorary Secretary will scope other options.

47. Corps Colours.

a. Maj S J Hart RE

b. Spr J Reeve

c. Spr J O’Brien

48. Army Colours.

a. NOT AWARDED.

49. Special Flag.

a. A Special flag was awarded to Lt Col (Retd) P Clarke.

50. Trophies.

a. Anderson Trophy. Maj R Duke RE.

b. REYC Seamanship Trophy. Cpl A Hearn.

Hon Treas

Hon Sec

Hon Sec

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c. Brewer Trophy. WO2 (SSM) D Curry.

d. Jardine Trophy. NOT AWARDED.

e. Blagden Trophy. Mr Tom Barker.

f. Peter Clarke Memorial Trophy. WO2 (QMSI) J West.

g. Carlier Trophy. NOT AWARDED.

h. Torch Trophy. Col (Retd) R C Hendicott MBE.

i. Avalanche Trophy. NOT AWARDED.

j. Commodore’s special commendation. Maj M Smith RE.

Item 11 – Communications

51. Communications Officer. A new Communications Officer was required to advertise the REYC. This position is to be advertised widely; in the meantime the Hon Sec would fulfil this role until a suitable candidate was nominated.

Item 12 – Risk

52. Risk Register. The Cdre briefed on the Risk Register. There was mitigation in place for details on the Risk Register. The rules would need to be amended this year.

Item 13 – Committee appointments

53. Two main committee changes that needed to be approved by the Members:

a. Cdre. Col CSE Thackway to be replaced by Col JA Hones.Proposed by Col (Retd) Montagu seconded by Lt Col S Finch – voted and carried.

b. RC(I). Maj B Whishaw to be replaced by WO2 (SSM) Curry.Proposed by Maj O Donahgy, seconded Lt Col (Retd) Clarke – voted and carried.

Item 14 – Any other business

54. Lt Col (Retd) P Clarke briefed on the history of the Sheerness Regatta 1864 tankard. It was proposed that the tankard be awarded at the Mary Cup to the serving member who contributed the most to the event. In addition, it was proposed that the cup is not further engraved to preserve its integrity. Proposed by Lt Col (Retd) P Clarke – voted, carried.

55. Brig (Retd) D Innes thanked the ATIs, the Main Committee, the Chatham Branch and especially the Cdre on his final year.

Hon Sec

VCdre

[Original Signed]

HMM STAMPMajHon Sec

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Annexes:

A. REYC - Club Statement of Financial Activities as at 31 Jan 2016 (Audit point).B. Townsend Trust report.C. AGM 16 slide pack.D. Offshore report.

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Annex A toAGM 15 minutesDated 11 Mar 16

REYC - Club Statement of Financial Activities as at 31 Jan 2016 (Audit point)

Incoming Resources Total Previous period totalCorps Grant 14,500.00 13,000.00Interest 359.44 828.99Subscriptions 12,624.10 12,867.10Other 2,800.00 18,749.00Offshore Income 31,370.62 18,749.00Chatham Income 7,090.24 12,680.54Total Incoming Resources 68,744.40 76,874.63

Resources expendedCost of charitable activites 14,572.19 11,509.61 Main

45,445.09

27,979.98

17,465.11

Governance 649.63 204.16 Offshore18,749.0

020,193.1

2 -1,444.12

Grants & Donations 11,569.56 5,000.00Chatham

12,630.54

12,480.69 149.85

Other costs 6,481.34 11,266.2176,824.6

360,653.7

916,170.8

4Offshore costs 29,728.68 20,193.12

Chatham costs 7,413.52 12,480.6924,424.8

5Total resources expended 70,414.92 60,653.79

18,180.49

6,244.36 141.3

Net Income/Outgoing -1,670.52 16,220.8412,056.7

812,630.5

4before transfers

18,301.1 12,771.8

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4 4Internal transfers -7,413.43 -22,980.00

Net movement in funds -9,083.95 -6,759.16

Funds from previous year 326,022.57

-9,083.95Funds carried forward 316,938.62

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Annex B toAGM 15 minutesDated 11 Mar 16

Townsend Trust report

CURRENT ASSETS

Liquid Assets (held in REYC Main Account) £12,941.64

15% Share of Ilex (Book Value) £6732

Outstanding Loan to REYC £12,000

Total: £31,673.64

ACTIVITIES MARCH 2015 – MARCH 2016

Expenditure – Loan to REYC for purchase of Trojan: £15,000

Income:

Sale of Ragna (46% of £24,980): £11,460

Repayment of loan from the REYC (1st Tranche) £3,000

Interest from Liquid Assets ?

FUTURE INTENTIONS

In the longer term, on the eventual sale of Ilex, realise the Trust's Assets and invest in a more permanent memorial to Stan Townsend.

Awaiting Proposals from the REYC.

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Annex C toAGM 15 minutesDated 11 Mar 16

AGM Slide pack

The AGM slide pack can be found here:

https://www.dropbox.com/home/REYC%20Hon%20Sec%20AGM/AGM%2016?preview=160229-REYC_AGM16_PRESENTATION.ppt

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Annex D toAGM 15 minutesDated 11 Mar 16

Offshore report

Project and Programme DeliveryDefence Infrastructure OrganisationRamillies IDL 416, Floor 1, Zone 1Marlborough Lines, Monxton RoadAndoverSP11 8HJ

Military: 94391 2220Civilian: 01264 382220Mobile: 07889 020633Email: DIOPPD-PDNorthPlans1@mod.ukWeb: http://www.home.sappersailing.org

http://royalengineeryachtclub.tumblr.com/

Royal Engineer Yacht Club Annual General Meeting

REYC(O)_01

07 March 2015

Introduction

1. In a busy season Offshore has had a broad spread of activity on the water with a good balance of racing, cruising and adventurous training. There have been some notable successes on the water in our racing programme, including good results in the Round the Island race, Cowes Week, the RORC Rolex Fastnet and a strong showing at the Army Offshore Regatta. The second iteration of the RE Sail Training Week built on the success of the previous year - it was well attended and hugely enjoyable for all those involved, as has been the programme of Wednesday sports afternoon sail and race training led by 22 Engineer Regiment. This will be built upon further during 2016 as this sort of activity should continue to garner interest in the sport, introduce new members of the Corps to the opportunities that offshore sailing and the REYC offers, with racing as a means to stretch and develop those who return. Engagement with units is key to success in this area and we are hopeful that the increased involvement of 8 Engineer Brigade, and the appointment of CO 22 Engineer Regiment as lead for Field Army Sapper sailing, will strengthen our links with the serving corps and lead to even more opportunities to help Sappers get out on the water

The Fleet

2. General. The hulls are in generally sound condition and despite having the pressure of an extra yacht to look after (Hebe), having a full calendar that has included stints away on Exercise GALLIPOLI and TRANSGLOBE for the Capt of Boats and Adventure Training Instructors (ATIs), the team has worked exceptionally hard to keep everything in order.

3. Trojan. Following last year’s AGM the Offshore Committee has successfully completed the procurement of a 6-year old J109 targeted at racing. From a number of potential candidates, the new hull, with a good race pedigree and sail loft, was procured well within the agreed operating budget and the offshore team are nearing completion the programme of winter refit such that she will be prepared and coded for the 2016 season. Following a series of sea trials, test sails, research and consultation a B&G Zeus2 chart plotter, AIS, Dacron cruising /delivery main and headsail, along with new race No 2 Jib and A4 Spinnaker are on order and will be in place by mid-

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March. Following consultation with the membership, and pending completion of MCA registration, she has been renamed Trojan following the ‘J’ tradition.

a. Coding. Trojans’ MCA coding inspection was conducted by the club’s Yacht Surveyor, Anthony Byrde on 15 Feb 16 and all remedial actions which were identified for coding have now been completed. His inspection report has been filed with the YDSA, and coding approval is expected imminently. The yacht will be coded for operation up to Cat 1, although will operate routinely at Cat 2 (as do Ilex and Right Royal). When operating at Cat 1, additional blanking plates for 50% of the port lights and hatches are to be carried on board; these are currently being constructed by the ATIs from MCA certified plywood.

Hull/Sails. Having been procured in good condition, significant additional work has been done through the winter, both to achieve coding and make her more usable for the club. Below decks this has included installation of multiple safety features including; a cooker crash bar, lee cloths, additional bilge pump, anti-syphon for the heads, and doubling up seacock jubilee clips. The electronics suite is now fit for purpose with a new plotter and AIS fully integrated with the instruments. On the topsides a new decal has been added which looks suitably aspirational. The sail loft is significantly larger than any of the other yachts, 18 sails were supplied on purchase but a number of these were age degraded and beyond economical repair. During purchase a full assessment of the sail inventory was completed by One Sails and the highest priorities for replacement have been addressed accordingly. The standing rigging is in good condition with a new 2010 mast and rigging. Some of the running rigging is showing some signs of age and, as the club start to use her, it may become necessary to replace some halyards and sheets.

4. Ilex. Ilex remains in good shape despite a busy racing season with much minor maintenance undertaken by the team to keep her fit. Early season, pre Cowes week and RORC Fastnet, a full hull, keel and rigging inspection was completed with a clean bill of health. Minor work to reseal through deck fittings continues along with an electrical overhaul supported by RE tradesmen from 22 Engineer Regiment. Following the programme of winter work, our intent is that she will be furnished with a suite of heavy duty cruising sails mid-season that will enable her transition to become the Club’s cruiser/racer.

a. Coding. A 5th year Small Commercial Vessel (SCV) Code of Practice examination of Ilex is due on 22 Mar 16 and will be conducted by the Capt of Boats as the yacht’s managing agent. The 5 yearly coding inspection cycle re-starts in for Ilex in 2017 and in Mar 17, a full surveyor’s inspection will again be required. It is expected that this will be completed by Anthony Byrde, although he has indicated that he may retire in the interim.

b. Hull/Sails. The “Ilex leak phenomena” has been well reported and significant efforts were made this year to determine the source, and most importantly to confirm that the hull to keel joint was in good condition. The quantity of water which Ilex can take on board in a few hours of offshore racing is sub-optimal and our surveyor raised concerns, particularly in light of the Marine Accident Investigation Branch (MAIB) report into the loss of Cheeky Rafiki. Consequently the issue has been monitored closely and she was also lifted out on the Hamble for a full inspection and GRP repair to some delamination in the bilge area, the source of the leak has now been narrowed to the hull to deck joint and through deck fittings including the fore hatch, and work is ongoing to rectify this. As a result partly of water ingress and partly of usage, the woodwork below decks and electronic / electrical connections have required increased attention recently; work which will be continued in the late 2016 refit. The standing rigging was visually inspected at Hamble but replacement in 2017 at the 10 year point is recommended. Ilex’s race headsails are good and she also has a good Dacron mainsail but has deficiencies in race main and heavy weather Dacron headsails.

5. Right Royal. Right Royal remains in excellent condition and has been a reliable yacht for the club, she requires limited maintenance and still looks new. As a performance cruiser she is

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popular for charters and she offers an enhanced level of on board equipment so is also versatile as a training and offshore capable boat.

a. Coding. Right Royal’s 5th year SCV Code of Practice examination is due on 21 May 16 and will be conducted by the Capt of Boats as the yacht’s managing agent. As for Ilex, Right Royal’s 5yr coding inspection cycle re-starts in in 2017 and in May 17, a full surveyor’s inspection will be required.

b. Hull/Sails. Right Royal has required the least amount of maintenance of all our hulls this year and aside from routine end of charter repairs, cleaning and polishing she has behaved well. Whilst not a priority, the AIS for Right Royal unlike the other yachts is push-pit mounted so has minimal range. A VHF splitter should be fitted in due course to lift effective antenna and increase range but this is not currently a priority; otherwise the electronics are in good order. Both standing and running rigging are still in good order. A new roller reefing headsail and slab reefing mainsail (both One Sails high quality Dacron) were received at the start of the 2015 season and have both performed well.

6. Hebe. Hebe, a beautiful Norfolk Smuggler has joined the REYC fleet following the close out of probate on her bequest. The ATI team have lavished real care and attention on her and she looks every inch as good as she sails. We have some minor work to close out on her suite of safety equipment, but the potential need to re-bed her keel, in advance of MCA coding has been averted following inspection by Anthony Byrd. Our intent remains to run her from Gosport as a Solent day sailor for family and short crewing.

a. Coding. Relatively few modern classic yachts like Hebe currently hold certifications of compliance with the SCV Code of Practice, and coding has been less straightforward than for the other 3 boats as she is not built to modern design principals. A preliminary inspection was conducted by Anthony Byrde on 15 Feb 16 to measure the cockpit volume and identify any other potential hurdles in meeting the requirements of the Code. He has calculated that the cockpit drains are correctly sized for the cockpit volume and is in the process of negotiating with the YDSA over the non-continuous guardrails which breach the recommendations in the Code. There is a degree of pragmatism in the interpretation of the code and we are cautiously optimistic that the YDSA will agree with his recommendations to certify Hebe, and expect to report back by Easter.

b. Hull/Sails. An extensive refit was completed on Hebe over a three month period in the middle of the season and significant man-hours were dedicated to rubbing down, gluing and re-varnishing; as a result she looks fantastic. Less work was required below decks where she has clearly been well looked after and is comfortable and very tidy. Hebe has minimal electronics on board and although the depth and log units are old, they function well. The standing rigging was replaced as required in the initial survey, and together with the repaired and re-varnished spars and new running rigging, she is now in excellent seagoing condition.

7. Ragna. Ragna has been sold, through SD Marine; she has been renamed and is now berthed with her new owners on the Hamble. As a consequence, she was not coded this year and only works that were necessary to secure a beneficial sale were carried out. The issue locating her documents that was briefed at the 2015 AGM was thankfully resolved after much work by the collective membership. Ownership and storage of key documentation for the balance of the fleet is being addressed by the Honorary Treasurer.

8. Yacht Usage.

a. A conservative estimate of yacht usage by activity, yacht and in a table by crew is shown overleaf with data collected by the ATIs. Use of the yachts for AT has marginally increased; not by as much as we would like, but, as per last year’s report, shows a slight year-on-year increase nonetheless. The reduction in racing perhaps reflects the classification of activity (as AT) rather than a reduction per-se of time the water. Neither includes the data

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for the Wednesday afternoon sailing that has been a regular feature this season albeit; in reality it offers a bit of both but is classed as neither and depends very much on who attends.

b. Overall, it has been a busy year for the club and with only two hulls on the water for the majority of the period. Both Ilex and Right Royal have been particularly heavily used; Ilex was raced in both inshore and offshore series and was involved in a number of AT expeditions, whilst Right Royal was predominantly used for courses, AT and cruising charters. The format has worked well and despite the sale of Ragna and purchase of Trojan, usage is broadly on par with 2014. The work to prepare and maintain Ragna for sale, Hebe’s extensive refit through the early part of the summer and Trojan’s winter refit is reflected in the increase in Maintenance / hull non-availability figures.

c. We will seek to reduce the time lost to non-availability in 2016 and I am confident we should see an increase in usage across the fleet. Hebe, has so far attracted a lot of interest and has been hugely popular with those who have taken her out. Likewise, there has been a great deal of interest in Trojan – the inaugural training weekend event is proving popular and we fully expect both to be busy through the season.

Snr Offr Offr SNCO JNCO Spr Retd

RERetd Non

RE Civ Total Days

Ilex 39 6 41 9 18 2 13 72

Right Royal 42 42 5 5 3 46 61

Ragna 7 3 3 3 4 3 17

Hebe 4 1 2 6 6

Trojan 3 2 3 5

Total 92 10 86 20 27 7 2 71 161

d. Usage remains somewhat biased to Senior Officers but the numbers of Sprs, JNCO and SNCOs have grown from that reported in recent years. This remains an area of focus with the RE Sail training Week and Unit sponsored AT very much targeted at developing and growing new talent. Junior officer usage has fallen away a little this year and thus options to target the RETCC are being explored – again with the aim to develop new talent and future members.

Adventurous Training

9.  On the Adventure Training side the RE Sail Training Week proved once again to be a great success and it will continue as an annual event. A mixed fleet of 9 yachts: 2 club yachts, 6 Victoria 34s and James Anderson's Cleone as the Committee / support Vessel had an exceptional week in some challenging conditions.  The week included demanding sailing for novices and skippers alike with quizzes, night sailing and some 'boisterous' weather.  We are already lining up the 2016 event, albeit with the lead switching from the REYC to 22 Engineer Regiment as they formally take on the Corp’s sports lead for Offshore Sailing.

10. 32 Engineer Regiment marked their return from Germany with an overland-overwater AT expedition whilst further afield Exercises GALLIPOLI, with the REYC Captain of Boats as the Army’s Project Officer, and TRANSGLOBE have had their fair share of Sapper crews and skippers. Sappers contributed disproportionately to the success of ASA’s Gallipoli centenary expedition, with 18 taking part (of 112 across the Army) and the Corps skippering three of the eleven legs. Leg 2 of exercise TRANSGLOBE saw the RE team take on the RN between Lanzarote and Rio de Janeiro; whilst REYC individuals to date have taken up places on 5 of the 9 legs to date.

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11. Participation in overseas training, remains strong with many Regiments participating in sailing expeditions from the Mediterranean to the Caribbean.  Capturing a holistic view for sailing across the Corps, will continue to aid in our marketing efforts – we need to know who is sailing in order to encourage them to join the REYC and assist in growing talent elsewhere in the Corps. Unfortunately, the planned West Coast of Scotland AT package for 39 Engineer Regiment has been overtaken by operational commitments. That said the ASA’s request that we compete on their behalf in the Beaufort Cup at Cork Week will likely offer similar opportunity for unit led AT on the delivery and recovery legs.

12. Our ATIs have likewise played a significant part as crew and afterguard to a myriad of RE, ASA, Toe in the Water and Joint Service events. Between them Cpl Adam Hearn, Spr Joel Reeve and Spr James O’Brien have racked up a staggering 15,341NM!

Racing

13. Wednesday Afternoons. Simon Finch’s initiative for Wednesday afternoon sailing, facilitated by use of the Adventurous Training Instructors, continues to prove popular and is hoped will grow a cohort of sailors from grass roots level. For last season this was predominantly filled by Sappers from 22 Engineer Regiment as part of their Fastnet work up training, but it is hoped it will grow and become a more widely attended activity by those Units and Regiments within easy commuting distance of Gosport.

14. The RORC Easter Challenge. For the racers the summer season commenced with the RORC Easter Challenge. The RORC Easter Challenge is always highly competitive and this year was no exception. Whilst our yachts did not necessarily compete for first place, the crews and skippers all learned a lot and gained useful experience. This is a standing fixture for the club and offers the opportunity to work up individual skills in the context of professional crews and Olympic coaches. 15. The Lymington Meet. Blessed with near perfect conditions the bridge team of Patrick Clarke and Andrew Douglas managed the racing very effectively and set us some good courses. The Royal Lymington Yacht Club romped away with the Carlier Trophy whilst the Ithnan Cup was won by Ilex skippered by Tom Barker. RC (Regions) and his team ran an excellent meet and I hope that we can put a better showing in next year to justify their efforts; 10 yachts attended and the event was enjoyed by all with an excellent supper to round off the event.

16. Round the Island Race. Ilex again performed strongly finishing 169th. Right Royal was a little further down the pack at 441st but as ever the race was a spectacular event, a real festival of sailing.

17. The Army Offshore Regatta. We retained the Dolphin Trophy at the AOR with excellent results from Ilex, Right Royal, and the usual JSASTC Victoria 34 and although competition was strong in each class, none of the other clubs could match the REYC for overall consistency.

18. Cowes Week. In a week dominated by light airs and with the somewhat artificial handicap of an elderly Dacron mainsail Ilex –finishing 16th of 27 overall in class, one place behind X-tosea, had one of her best results for a number of years and a fitting end to her role as the Corps premiere race boat.

19. RORC Rolex Fastnet. In its 90th anniversary year, the 603-nautical mile race had a record fleet of 356 yachts from 25 countries this year. The Fastnet team on Ilex were largely drawn from 22 Engineer Regiment and were in the main relatively new to the sport. Conditions were taxing with light conditions characterising the early part of the race whilst the fleet benefitted from an upturn in breeze rounding the emblematic Fastnet rock that made for a more classic wet and challenging homeward leg. Rob Duke and co finished a very credible 50th of 71 in Class 4 in Ilex, Jason West came 10th in IRC1 on Desperado whilst Tom Barker and Lucinda Allaway on Hurrying

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Angel collected the Spangle Trophy joining previous REYC winners on Right Royal (1981) and Ilex (1989).

20. Ilex Trophy. Unfortunately we couldn't really allow the RE victory on leg 2 of Ex TRANSGLOBE to count for the Ilex trophy as gear failure on the Navy boat and changing destinations due to in-country complications in Brazil muddled the waters a touch. Ultimately, The Ilex Trophy was retained by RNSA. We had a great weekend though – fantastic conditions, fair winds and clear skies with Hebe shuttling those not competing around in style whilst Roddy Simpson and his REYC crew on British Soldier showed the RNSA boats a clean stern on each of the three races.

Resources Management

21. A Board of Officers of the Offshore inventory was carried out by Captain Jinks, QM 5 Armoured Engineer Squadron, 22 Engineer Regiment on 28 Jan 16. Capt Jinks commended the ATIs on the overall state, presentation and account of the inventory. The BOO identified 31 minor discrepancies that require accounting action or disposal, none considered to be major. It further recommended a process of monthly managerial checks that will be instigated by the ATIs for 2016.

Finance

22. General. Offshore continues to be financially sound overall, but still struggles occasionally with cash flow. That said this year has seen the account return to running a small surplus as a result of the excellent work of the Offshore and Main Treasurer in securing grant income from PS4 coupled with careful and proactive financial, spares, and repair management. Despite only having two hulls on the water for the majority of the season Charter income is up slightly reversing the decline of last year but Right Royal is the only yacht whose raw income matches her running and maintenance expenditure. AT does not generate as much revenue as private charters, but it meets our aims in terms of growing new talent, membership and wider Corp’s interest in sailing. Looking forward to 2016 we need to continue to ensure that we promote yacht usage, balance it across racing, AT and private charter whilst generating sufficient additional grant income to cover running costs of 4 hulls. We have already submitted a £10k application to PS4 primarily targeted against a safety equipment refresh and intend to secure a further £10K in Sep 16 to facilitate the ‘de-tuning’ of Ilex into the cruiser/racer category. Early engagement with PS4 indicates that we will be successful with each bid.

23. Governance. The REYC(O) accounts are now run wholly within the 22 Engineer Regiment non-public fund (PRI) account using the Paxton accounts management system in accordance with Service Fund Regulations. The accounts were formally transferred midway through the 2014 season to bring the management of this non-public money in line with normal service accounting practice. The 15/16 trading year accounts represent the first full year under this regime; they have been audited by the Regimental Administration Officer (RAO) 22 Engineer Regiment (Maj A Salt) and confirmed to be accurate. The Offshore Financial Report is at Annex A.

24. Summary of Income and Expenditure. A summary of income over expenditure as at 31 Jan 16 is in the table below and covers the past four years to date. Of note the 15/16 figures include costs to prepare Ragna for sale, receipt and refit Hebe and completion of minor works for Trojan; they are exclusive of the Capital purchase and winter refit costs of Trojan and the offset receipt from the sale proceeds of Ragna. These elements have been addressed through the Main Hulls Fund.

Ser(a)

Trading Year(b)

Income (£)(c)

Expenditure (£)(d)

Surplus/Deficit (£)(e)

1 2012/13 25,648.35 28,638.16 -2,989.812 2013/14 23,309.09 22,769.11 539.983 2014/15 18,749.00 20,193.12 -1,444.12

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4 2015/16 34,524.57 32,882.63 1,641.94

Whilst, in raw account terms, income exceeded expenditure this year, cash flow has been more finely balanced. When the mid-season costs for Ilex’s keel inspection and bulkhead repair and 10% of the annual Charter income have been reconciliation with Main (albeit ‘paid back’ in this FY16/17), the ‘true’ income over expenditure for last season shows a small deficit of £315.00. I am confident that the forthcoming year should balance to a similar, acceptable +/- tolerance.

Forecast of Events

25. The focus for next year will be on training and development via a campaign of training, cruising and racing that will build towards the 2017 RORC Fastnet and an ability for Trojan to compete strongly against her tri-service peers. Whilst there will be the usual racing events, I am hoping that approaches to units to get them involved will continue to bear fruit next season and there is plenty on the cards for novices and the more experienced alike . Our aim remains to get more serving people sailing, build up the offshore racing side, grow membership and develop our Year 1, J109 collective competencies with Trojan via a campaign of JOG racing. The RE Sail Training Week in July likewise remains a key event if we are to be successful in introducing new soldiers and junior officers to the sport.

26. The table below shows key events and dates:

Ser Dates Event(a) (b) (c)1 12/13 Mar Skipper training for Trojan and Hebe2 25-27 Mar RORC Easter Challenge (Cowes, inshore)3 16/17 Apr Warsash Spring Champs W/E 1 (Solent, Inshore)4 23/24 Apr Warsash Spring Champs W/E 2 (Solent, inshore)5 Apr TBC RE Troop Commanders Cse mini-expedition6 9-13 May Army Offshore Regatta (Offshore)7 14/15 May Lymington Meet8 24 May - 30 Aug EX HIGHLAND EXPRESS 2016 - HMSTC REDCOAT9 27/30 May RORC Myth of Malham or JOG 65th Anniversary race to Roscoff

10 9-11 Jun J Cup - Royal Southern YC, (Solent, Inshore)11 11 Jun Mary Cup, River Medway12 2 Jul Round the Island Race13 8-17 Jul Beaufort Cup /Cork Week (Including delivery legs)

14 18 – 22 Jul RE Sail Training Week15 6-13 Aug Cowes Week16 26 to 29 Aug Splieth - British Kiel Yacht Club17 19 Sep to 06 Oct Ex Kiel Haul18 17/18 or 24/25 Sep Ilex Trophy (tbc)

27. TRANSGLOBE 15. The tri-service TRANSGLOBE expedition continues its circumnavigation with 5 legs left to complete. Murray Smith, having organised Leg 2 from 33 and 101 Engineer Regiments continues to provide a link with the project team and trawl the REYC membership to cover last minute crew/afterguard deficiencies. The remaining legs are Montevideo to Grenada (17 Apr - 22 May), Grenada to Miami (22 May - 12 Jun 2016), Miami to New York (12 Jun - 03 Jul 2016), New York to Halifax Nova Scotia (03 Jul - 24 Jul 2016) and Halifax to Gosport (24 Jul - 21 Aug 16).

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28. Racing Training. Racing provides an excellent combination of adventurous training and competition that aligns well with military ethos. REYC(O) will continue to provide racing opportunities and will be developing more training for racing as well, such as the inaugural J109 Skipper training weekend on the 12/13 Mar 16 which should not only improve REYC performances, but also breed a new generation of skippers and crews. Murray Smith has already set in train a number of subsequent events such as the Warsash Spring Champs and J Cup that have been advertised and we will keep the REYC website Forecast of Events up to date with the latest opportunities.

29. Army Offshore Regatta. The Army Offshore Regatta is a key event for Offshore. With a strong rules bias towards a mixture of ranks and experience it allows us to develop skippers and crews in a competitive environment. We’ll be seeking to continue our winning streak of the last two years while, as ever, trying to maximise the breadth of attendance. REYC members are also encouraged to enter the AOR either in their own yacht or in a club boat.

30. Lymington. The Lymington weekend follows on straight after the AOR. Whilst the yachts will be delivered to Lymington, Murray Smith will be looking for crews and skippers and Members are encouraged to put their names forward. The event is open to Retired and Serving Members alike.

31. Ex HIGHLAND EXPRESS 2016. Not a REYC exercise per se – but a JSASTC facilitated multi-leg exercise open to Unit / individual bids. HMSTC REDCOAT, coded for 8 crew, will be based in Dunstaffnage marina near Oban on the West Coast of Scotland for the period. She is available for a 1 week charters (Tuesday to Tuesday) at £50.00/week. A typical week charter would allow a circumnavigation of the Isle of Mull or to sail to the Island of Skye or out to the Outer Hebrides.

32. RORC Myth of Malham or JOG 65th Anniversary race to Roscoff. For the May Bank Holiday Weekend we are looking at entry into either the RORC Myth of Malham or the JOG’s 65th Anniversary race to Roscoff. The latter has had considerable interest this year's from J/109s as well as the usual smattering of J/97s, J/120s, J/133s and it promises to be a great event with the usual JOG party at the finish.

33. J Cup. Heralded as the biggest and best regatta of the year the Landsail Tyres J-Cup in Partnership with B&G will offer three days of serious competition coupled with not-so-serious shore side entertainment, with one design ‘J’ racing for almost everyone. This year’s event will take place at the Royal Southern in Hamble with racing from Thursday 9th - Saturday 11th June with suppers available each day after racing and a lively prize giving party on the final night.

34. Beaufort Cup / Cork Week. The ASA have invited the REYC to participate on their behalf in this year’s Beaufort Cup / Cork week (famous for world class racing and a world class social) which we have gladly accepted. The Irish Military (coincidently with two J109’s on the start line) has already established communications with the club the club; the entry fee has been waived for us and we can expect help with logistics, accommodation and a 'gala dinner'! We have now formally entered naming the RNLI/ABF as our chosen charities and Trojan / REYC has been included in the initial Press Launch. Broadly speaking the emerging plan sees the delivery legs being classified as adventurous training, with the hope that crews will be primarily novices drawn from the field army, while the race crew will be selected to mount the strongest possible campaign in the light of such a high-profile competition.

35. RE Sail Training Week. The RE Sail Training Week will follow a similar format to last year, with 22 Engineer Regiment leading on the planning and execution. That said the REYC are very much in support and the call for members, skippers and administrative support will be passed out shortly. It will take place in the week 18-22 Jul 16, and has been deliberately delinked from the RE Games such that other Corps sportsmen and women will have the opportunity to participate. Aspirations to include racing as a component part of the RE Games remain on hold unless a dispensation for using the JSASTC Vic 34 fleet for racing can be gained.

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36. RYA Training. REYC will continue to deliver RYA Scheme training as a supplement to JSASTC and ASA activity. Last year’s Yacht master course in Apr 15 was a success but we have yet to receive a demand signal for this year. If an appetite is shown for more, then we will facilitate as required.

37. Splieth Regatta - British Kiel Yacht Club. The Splieth Regatta has been a long running institution at the BKYC and for its’ final iteration the Regimental and Corps clubs were asked if they wished to bid for places. As the REYC were there at the beginning the Offshore Committee felt strongly we should be there at the end and so have secured a Halberg-Rassey Yacht for the event. Members that have a strong interest in joining the crew for this event should contact Murray Smith.

38. Ex KIEL HAUL. Ex KIEL HAUL is the Army Sailing Association organized delivery trip of the Hallberg-Rassys from the British Kiel Yacht Club in Germany and follows on from the Splieth Regatta. The Vice Cdre has secured one of the yachts for the REYC to skipper and crew. The emerging plan sees the event commences on 19 Sept from Kiel ending with a parade in Gosport on the 5 Oct. It is covered as AT so should be relatively inexpensive for those that participate.  More details to follow from the Vice Cdre as the detailed plan is developed.

39. Ilex Trophy. The next Ilex Trophy will be contested in late Sep 15 and this year will be organized by the REYC. Murray Smith will be trawling for crews closer to the time, but nominations for skippers will be accepted at any time from those available and suitably qualified. Our aim this year is to field two matched fleets such that the J’s, X’s and Dehlers can race head to head.

Communications

40. The Sapper Sailing website continues to add huge value and various Facebook pages, Twitter posts and MailChimp email shots from Murray Smith and the ATIs ensure that communications are comprehensive and inclusive. The ATI capture crew contact details at Gosport to ensure future sailors of note become part of the communications package. The key target for 2016 will be to market sailing more effectively within Regiments and promote the sport proactively.

REYC(O) Committee

41. The Committee, having been steady for a year, will remain so for the next year. On the ATI front Cpl Hearn is due assignment this year and whilst the details have yet to be confirmed it has been agreed with Glasgow and his RCMO that he will be replaced on the summer posting cycle. We are actively seeking a replacement and have a few potential nominees. The Captain of Boats will continue to work with Glasgow to secure a suitable individual. Otherwise the area of focus must be succession planning; volunteers, specifically from Junior Officers to act as Secretary or to understudy and deputise for the Captain of Boats and/or Racing Secretary are being actively sought.

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SecretaryCurrently Gaped

Retd MemberHon Rear Cdre

James Anderson

Racing SecMaj Murray Smith

REYC(O) Committee 2016

ATICpl Adam HearnSpr Joel Reeve

Spr O’Brien

Capt of BoatsMaj Rob Duke

Charters SecCapt Rachel Oxley

TreasurerLt Col Simon Finch

RC(O)Lt Col Gavin

Hatcher

42. Governance. Following direction discussed at the last AGM that all Corps Sports have a Regimental Lead with their RAO providing the financial support and oversight we have developed out affiliation with 22 Engineer Regiment. With Simon Finch moving on from his post as 2IC the direct link to the committee has been lost; tying the secretary position to the Regiment would suit both parties and is and area for discussion with the incoming CO. This year has seen the Regiment provide a strong level of support to the REYC from tradesmen to certify the electrical fit on Ilex and Trojan to running the Board of Officers and the REYC(O) non-public fund account. Conversely the Regiment has benefited from the opportunity of Wednesday Sports provision facilitated by the ATIs and likewise they provided the lead for the 2015 Fastnet team entry.

43. Standard Operating Procedures. With the arrival of two new hulls, a rationalisation of the on board SOPs, handbooks and training manuals is required and will be addresses as apriority in the coming months. The initial concept is that a potential cruising or race charterer should have a user friendly set of SOPs which are specific to the hull and contain all the key yacht data as well as relevant club procedures [procedure on damage to the yacht or running aground, reporting procedure when visiting foreign ports etc.] Further work is required in this area, both to develop the format and presentation style and the required content.

Summary

44. 2015 has been a busy and challenging year with the sale of Ragna, purchase of Trojan and receipt of Hebe occupying much of the committee’s spare time. It has not been at the expense of activity though, club activity levels on the water has marginally increased from previous years and the rank balance of participants, less junior officers, is moving in the right direction. We have operated to budget in an annual sense and well within the operating budget to complete the procurement and preparation of Trojan. The plan for the forthcoming season is rightly ambitious – we have 4 yachts to play with and the forecast of events has grown to reflect a progressively more UK based Corps with an anticipated AT dividend from the current non-enduring operational status. Our focus for the year is in identifying and growing Junior Officer talent and generating an increase in overall yacht usage rates that is a must if we are to sustain a four hull fleet.

G P HATCHERLieutenant ColonelRear Commodore (Offshore)Royal Engineer Yacht Club

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ANNEX REYC(O)_01 TOREYC(O) ANNUAL REPORTDATED 07 MAR 2016

ROYAL ENGINEERS YACHT CLUB (OFFSHORE) FINANCIAL REPORT 2015/16

1. Headline Points To Note. Key points from the financial accounts for the trading year 1 Feb 15 to 31 Jan 16:

a. Overall income (excluding cash at bank) for the 15/16 trading year is £34,524.57, a rise of £12,555.23 over the previous trading year due predominantly to increased grant income (from REYC (Main) and PS4).

b. The overall income (including cash at bank) for the 15/16 trading year is £36,299.69, a rise of £14,330.35.

c. Overall expenditure for the 15/16 trading year is £32,882.63 giving a surplus income over expenditure of £1,641.941, a rise of £3,086.06 from the £1,444.12 loss in the 14/15 trading year.

d. Cash at bank at the end of the 15/16 trading year (31 Jan 16) is £3,417.06. The unused NatWest account retains a nominal (pennies) balance to remain open should it ever be required in future.

e. Broadly speaking the fleet cannot be sustained on charter income alone and is heavily reliant on grant income from all sources coupled with careful and proactive financial, spares, and repair management.

f. This is the first full trading year the REYC(O) accounts have been run wholly within the 22 Engineer Regiment non-public fund (PRI) account using the Paxton accounts management system in accordance with Service Fund Regulations. Account management is significantly more rigorous than was previously the case and ensures the management of this non-public money is in line with normal service accounting practice.

g. The 15/16 trading year accounts have been audited by the Regimental Administration Officer (RAO) 22 Engineer Regiment (Maj A Salt) and are found to be accurate.

h. Outstanding liabilities remain for the 13/14, 14/15, and 15/16 trading years in respect of hull contributions2:

i. 13/14 trading year £1,100.30ii. 14/15 trading year £1,374.90iii. 15/16 trading year £1,168.00

£3,643.20

2. Summary of Total Income and Expenditure. A summary of total income and expenditure (I&E) is in the table below and covers the past three years to date. Appendix 1 gives details of all 15/16 transactions. All receipts and invoices are retained on file at 22 Engineer Regiment and subsequently archived for up to 7 years (a legal obligation).

1 Calculated as income (excluding cash at bank) less expenditure and deliberately ignores the outstanding hull contribution liability2 Hull contributions are calculated at 10% of charter income (including racing fees)

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Ser

(a)

Item

(b)

Income (£) 13/14

(c)

Income (£) 14/15

(d)

Income (£) 15/16

(e)

Expenditure (£) 13/14

(f)

Expenditure (£) 14/15

(g)

Expenditure (£) 15/16

(h)1 Grants 4,500.00 5,000.00 12,849.00 - 400.00 -2 Ilex 8,626.00 2,530.00 4,245.00 13,064.62 6,737.24 8,408.823 Ragna 1,880.00 4,015.00 0.00 3,655.42 4,591.55 2,999.434 R-Royal 6,470.81 4,044.00 7,235.00 3,840.65 3,830.16 7,193.295 Hebe - - 200.00 3,587.086 Trojan - - 700.00 1,744.827 Unspecified 1,832.28 3,160.00 9,295.57 2,235.42 4,634.17 8,949.198 Cash at Bank - 3,220.34 1,775.12 - - -9 Total 23,309.09 21,969.34 36,299.69 22,769.11 20,193.12 £32,882.63

3. Summary of Income over Expenditure by Yacht.

Ser(a)

Yacht(b)

12/133 (£)(c)

13/14 (£)(d)

14/15 (£)(d)

15/16 (£)(e)

1 Ilex -6,259.38 - 4,438.62 -4,207.24 -4,163.822 Ragna 720.53 -1,775.42 -576.55 -2,999.433 R-Royal 213.42 2,630.16 213.84 41.714 Hebe - - - -3,387.085 Trojan - - - -1,044.82

4. Expenditure is further summarised (across the fleet) below, noting the detailed income and expenditure sheets by hull, type and entry are at Appendix 1.

a. Repairs & Chandlery £16,715.93b. Lift/Launch costs £1,282.50c. Certification/Coding £7,485.67d. Sails £2,194.79e. Office Supplies £76.98f. Bosun’s PDT £245.00g. REYC Dinner (Bosun’s) £95.57h. Ragna Sale Costs £916.74i. Loan Repayments (to REYC(M)) £3,153.95j. Race Entries (now recovered) £715.00k. Total . £32,882.63

5. Summary of overall income over expenditure4.

Ser(a)

Trading Year(b)

Income5 (£)(c)

Expenditure6 (£)(d)

Surplus/Deficit (£)(e)

1 2012/13 25,648.35 28,638.16 -2,989.812 2013/14 23,309.09 22,769.11 539.983 2014/15 18,749.00 20,193.12 -1,444.124 2015/16 34,524.57 32,882.63 1,641.94

6. Property and Inventory Values. The REYC (Main) report covers property (hull) values. The REYC(O) Inventory audit and valuations from the Board of Officers completed in Jan 16 is included overleaf.

3 Taken from the 14/15 year Financial Report4 Which includes all grant and loan income5 Excludes cash brought forward6 Excludes Hull liabilities

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Ser(a)

Detail(b)

Ilex(c)

R-Royal(d)

Ragna(e)

Hebe(f)

Trojan(g)

Misc(h)

Totals(i)

1 Cost on Purchase (£) £7,291.79 £6,206.5

6£2,506.6

7 £5,228.26 £2,160.00 £23,393.28

2 Replacement Cost (£) £8,164.73 £7,350.9

3£6,081.3

9 £8,512.01 £3,409.67 £33,518.73

3Current (written

down) 2016 value (£)

£1,382.40 £2,286.60 £0.00 £4,567.82 £1,757.70 £9,994.52

7. Charter Rates. Charter rates are published in the members handbook and summarised below:

Ser

(a)

Season 1 Apr - 31 Oct 1 Nov – 31 MarYacht

(b)Member (£)

(c)LAM (£)

(d)Unit AT (£)

(e)Member (£)

(f)LAM (£)

(g)Unit AT (£)

(h)1 Trojan 130.00 130.00 - 120.00 120.00 -2 Ilex 120.00 120.00 - 100.00 100.00 -3 R-Royal 120.00 120.00 - 100.00 100.00 -4 Hebe 50.00 N/A - 50.00 N/A -

5 All Racing(hd/day) 15.00 15.00 - 15.00 15.00 -

8. 5 Year Forecast of Expenditure. Appendix 2 sets out detailed estimated capital expenditure (replacement inventory and hull items) and operating costs (fixed costs) for the club hulls for 2016 through 2020 (20/21 trading year). A summary is below:

Ser(a)

I&E(b)

From(c)

2016/17(£)(d)

2017/18(£)(e)

2018/19(£)(f)

2019/20(£)(g)

2020/21(£)(h)

1 Grants REYC Main 8,000.00 8,000.00 8,000.00 8,000.00 8,000.002 PS4 Target 10,000.00 6,000.00 6,000.00 6,000.00 6,000.003 Charter Fees 18,000.00 18,000.00 18,000.00 18,000.00 18,000.003 Totals 36,000.00 32,000.00 32,000.00 32,000.00 32,000.00

4 Capital Expenditure5 Totals 20,421.70 19,282.65 15,269.30 13,734.35 15,555.45

6 Operating Costs7 Totals 10,282.00 9,782.00 8,282.00 10,282.00 8,182.008 Expenditure

Total 30,703.70 29,064.65 23,551.30 24,016.35 23,737.45

9 10% Contingency 3,070.37 2,906.47 2,355.13 2,401.64 2,373.75

10 Grand Total 33,774.07 31,971.12 25,906.43 26,417.99 26,111.20

11 Potential Surplus 2,225.93 28.88 6,093.57 5,582.01 5,888.80

9. Summary. The REYC(O) accounts are now well-founded and subsumed within a fully managed, protected, and audited Royal Engineer Regimental accounts process at 22 Engineer Regiment; this ensures consistency, accuracy, and regular auditing. The long-term hulls business plan is conducted under REYC(Main) and hence hull values are omitted from this section.

SM Finch AJ SaltLt Col RE Maj AGC (SPS)REYC(O) Treasurer 22 Engr Regt RAO

(Auditor)

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Appendices:

1. REYC(O) I&E Accounts 15/16.2. REYC(O) 5 Year Financial plan.

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Appendix 1 toAnnex D to

AGM 16 MinutesDated 11 Mar 16

REYC (O) I&E Accounts 15/16

Offshore I&E accounts can be found here:

https://www.dropbox.com/home/REYC%20Hon%20Sec%20AGM/AGM%2016?preview=20160303-REYC(O)_AGM16_Report_2_App_1_IE_15_16.xls

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Appendix 2 toAnnex D to

AGM 16 MinutesDated 11 Mar 16

REYC(O) 5 Year Financial Plan

The REYC(O) 5 year financial plan can be found here:

https://www.dropbox.com/home/REYC%20Hon%20Sec%20AGM/AGM%2016?preview=20160303-REYC(O)_AGM16_Report_3_App_2_5_Year_Costs.xls

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