2020-12-31-accounts

Company number. 2857013 Charity number. 1047632 ROYAL CANOE CLUB TRUST TRUSTEES, REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

ROYAL CANOE CLUB TRUST CONTEKrs TNstee5' report Indep8nd?nl oxaminerfs report Stslement of financtal aclfvilies lincluding in&Jme and expendllure account) Notes to the financial statements 9-16

ROYAL CANOE CLUB TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 The iruslees (fio ars a150 dlroctors of the ¢ompany for thts purposes of company lawl preseftl ther Teport and thè unaudit8d financial statements of Royal c￿08 Club frust for Ihe yèar ended 31 Dacembar 2020. The trustees ccmfinyb that the report and finan¢Lql stalwnénts of the thaTity eompty With thè curr&nt Statutory rnqulremènts, the requirements of Ihe governhg docvmenl. and the provision$ of 'Accounting and Reporting by Charlti8s.' Statement of Recommended Pradice applicablo to charlllos preparing th8lr accounts in accordance with the Financial Reportirsg St8ndaril applcablè in th8 UK and Republ￿ of Ireland {FRS 102). {effèctiw 1 Janugry 20191 (Charities SORP (FRS 102)). Rohr•fie• and admlnhlr4tlve lThfoTmatlon Company number 2857013 (England and Wales) RegS8tefed charity number 1047632 Regfjslered office and wincipal offtce address The Clubhouse 1 Trowlock Island Teddinglon Middlesex TW119QY Independent examwier A S Pt88ley FCA CTA DChA Lindeyar Franas Ferguson Llmlted Chartered Accountants North House 198 High Street Tonbrldg8 Kenl TN9 1 BE Princyal bankers NatW8s18ank 6 Hlgh Street Teddinoton Middlesex TW118EP CAF 8ank Llmlted 25 Kings Hlll Avenue Kings Hill Wesl Malling ME19 4TA Structurn. gOVornanG• and manag•m•nt . const1￿10￿ Royal C8￿ ¢￿b Trusl is a charitable company Ilmlled by guarantee 8nd has no Share capital. Th• liability of each momber tn the ovenl of winding up is limiled lo £1. The company was Incorporated on 27 Septèmb&r 1993 and ig govern8d by a memorandum and articles of assoclation. It re9lstered a5 a charlty on 30 June 1995. b. Molhod of Appolntm•nt or Elo¢tlon of Trustees Twstees are reeruitad from th8 mpmbershsp of the Royal Canoe Club. the Skiff Club, Walbrook Rowlng Club and Klno5ton Royals Dragfth Boat Club. Théy are appointe(181 the Annual General Meeting and are inducted by thelr fellow trustees. Organlsatlonal Struc￿r and Ded8lon M•klng Thè Iruslees have overall responslbllity for approvttl of str81egy. po15aes, plans, risk management and finance. The ¢harfty has one employee to assist in dellverlng 6ngag8menl wlth youry people.

ROYAL CANOE CLUB TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEM8ER 2020 d. Tru8te•* Th8 trust889 Se￿Ing durlng the yearwere: David Lawience (Chair) Martin Bo$h•r James Ctarf Roger Hughes Basil Pratt Ajan Williams Jonathr￿ 8oyton Trevor Hunter David Gramholl ITesigned 30 September 2020} Daniel Smith lappoinled 1 October 2020) ObJ•ctlv•s and actlvlY•s a. Obloctlves The prlmary objgcllv6 of the charity is lh8 advanGemnt of amateur 8P)rt, èspecialy walgrsports. Indudlng.. Canoeing Skiffing Rowing Dra9on boallng The charitable objects for whith the charity was 88tsblish8d Indude the organlsalion and provision lelther alone or In conjundon with other bodies) of facllities for w3ler-related and other physical recreation al Teddinglon land I r elsgwhere in the United Kingdom) for the pubtic ben￿11. b. Publ1¢ 8•n•fft Thè trusto88 hav8 had dug regard lo the guirlance Issued by the Charlly Commission on publk bwb•fit when rnvlèwlng the charills ot4'ecb'ves an(1 planning for the futur8. Sport England resèarch shows that boosting participation in sport can generat8 a variety of socIC￿e¢Onomlc beneflts. Sport can. and doe¥, make 8 profound and posllive impact on indivtduals. Communities and wider society. HEALTH IMPACT.. Physical acllvty, Includlng 8POrt. Is Ilnked to reduced risk of over 20 iltnasses, including cardiovascular diseasé and some ¢ancors. SOCIAL AND CULTURAL IMPACT: the positivé effects of sport on educaticffl indud8 improved attainment, kther absenteeism and drop-out, and inGrea8ed progrèssion to higher education. For instance, young P80ple'8 particlpation in sport improves Ihdr numfrracy scores abov8 rson-parti¢ipants. SOCIAL CAPACITY AND COHESION.. sports programm¢s have the potential to strengthen soclal n8iworks arKI Mmmunity idenlity, according to several inlgmational sludles. The chaT6ty consldars that Its activti4os lead to Significant public benefft In all araas hlghlightod by Sport England. c. Acllvlti•• Tho charfty Invests In the provision of h191￿qua￿ty facilities fr)r communlty recrealion 8rtd has focused on making enhanced provision of facllitte$ and leadèrship for thildrgn, young people arbd disadvanlaged groups. The chality. toyolh8r wlth the Sklff CILÈb Tnjsl, owns the freehohl of a ￿ver$ide site at Teddington comprislng boathouses. changing rooms, trainlng and recreallon faeilitss. These faciliti•s. tog8ther wth an adjacent site on Trowlock Island {¢Mned by Canoe Club Freohold Lkntt•d. tradlng as Teddlnglon Watersports Cenlre). are used by four dubs who

ROYAL CANOE CLUB TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 delfver the sportkng actsvit￿ thtyhsefves: the Royal Canog Club. the Skiff Club. Walbrook Rowing Club and lQngSton Royals Dragon Boat Chjb. The fr8ehokl site also Incfudes r8skd8nli41 property. whlcl) Is rènted to indlvlduals who provide lo the tn￿1. to sludants aNI yrArng athletes to gén•rale fvnd$. Thg tharty has a Commerc￿1 mortgage with Nallonal W•stminstsr Bonk, vthich was taken out In 2007 to enable investment a major proleet lo Tel￿11d the Island site al Te(l¢finuton. redevelopm6nt wort¢ was comp18ted in 2008 and substanlialty InGreasod the Chonging room spacè, training 8re8 and pro¥ided extra space for coachir￿, preparation ond other aclivltte8, Including acc85s and faGillUes dedlcat8d to physlcalty dlsable(I peopl8 {whl¢h ￿Te prevtously lacking).The new facilities al￿Wed expansion of the range and depth of activities. with increased membershlp and participatlon aGross Ihe raNJ• ofwalerspcrft an¢J othw leisure activities that ihg charity Supports. Tha chadty makos grants toT•ddlngton Watersportscentre and to Ihe Sporting dubs in a¢cordanca with ils GharStab PU￿0$8- prmnarlly to improve the sporting facilili8s or lo purchase Si￿S equipment. The charity. up to 31 December 2020. made a grant payment to th8 Skiff Club for Ihe refurbL8hmenl of hislor¢c Thames Skiffs. Dècisions on grants arè made by tho Board of TTU51egs, who have an 8xpert undersknding of on? or ￿re of the wat•r sports actNitS0s. Tar9et uyoups for Increased pariicipÉtion are.. youth & juniors., wom•n & girfs., dlsadvantaged and other groups. Rowing and canoeing conllnuè to attract a considerable number of junlor participants through organised coaching programmes and links with local schools. The Trust contiftually examinès way$ it can fvrther asslsl th& Clubg In atlrading more young people to Ihe 8Ct•vities as a con8equgnc8 the Trust has employed an 'anlmator' lo lead the proyrammes of knstructton. A partlculaty dlfflcult year for the Trust due to the COVID 19 pandemic resulted In the facllltles having little use from Marth 2020 onwards. athough the accommodation c¥>ntinugd lo be occupted in order to providg a security presen on the slte. The op8rallon of th& resident Clubs was SLtspended for the latter 9 months of the yaar and conseqLtenty the activity of the Trust's partners, and thus income, has bèèn affected. The impact may b8 f811 In futura yèars howèvèr the impact cushlonod by tha significant bequest from the estate of Mary FTamplon - decisions on th8 long-terrn investment will be delayed whilst the (>)nsequ8nce ol COVID 19 are assossed and worked Ihrough the accounts of TWC and thé Twsl. Achlevements and perfornian In Ihg yaar endgd 31 0￿mber 2020, th8 charlty rp)ntinued to repay mortgag8 debt and mode further grants to thg sporting dub5. Our faclilies are used by all age groups and by users who rènge from potential Otympic athletes to complets b8ginner5. Membership of each of thg 4 Clubs b8¥ed at Teddlngton has declined due to COVID and the Trustees have Monitor￿ ihe ¥nmediato impact artd will remaln 9)nGery￿ until the Imp8Ct of the 'lockdown', hos been worked Ihrough dur¥w 2021 2022. Up to March 2020 ihe Sprfir￿ aclivllles ¢arried out by the cknbs based al Teddinglon, lo benefit groups in¢lude.- young people: free taster sessions encourage children from loGal schools lo join as junior members. okler people:"leam tr) rovl course$ attract oklef people and dayiSme rowing for those not in work is now very Ft)pular and being expanded further to Friday momings. disadvantaged people: club5 ty to offer 8fftJrdable fees or discounts for thosg on low incomas wlv) ¢8nnot afford feè l•vels. Subsequènt lo March Ihe Royal Cano8 Club I Wa*Jrook Rowing Club ran programmes for juntors of land training, strètchffig & flexibility over the intemglwhlch onioyed consld•rabla support. Thè charity 1$ concerned about the impact upon several open sporting 6venls and regat&￿ In canoeing, rowing. skiffing and dragm boating tho1 are held ai tha Teddington site. Using the facilities that we provide. This is bewso they provldsd revenues to SUp￿rt eath of the actlvltles.

ROYAL CANOE CLUB TRUST TRUSTEES. REPORT FOR ThE YEAR ENDED 31 DECEMBER 2020 W& make our facllities available for other $FK)rting aclivilles or aclfvllrè$ wllh a public benefiL the mafvity of which was suspended during 2020. Future plans The Tru$tses are concemed about the knpa￿ upon the f8¢ihlies as a Gonsequence of thè long period of low or Use. We are évaluating the investments we n88d to mako in recovering the quallty of the laci1Stie$ we provide. Flnw)cl•l revl•w In the y8ar gnded 31 December 2020: In¢om& was £106,57￿ ￿lch compares to £217,975 in 2019. A $Ltbslanl￿I legacy was recgived in 2019 of £138.259. £71.233 of Ihe income recetved this year wa$ feslrlcted in nature, compored lo £44,467 in 2019. This year's restrictgd funds were in the form of donallons mad• towards coachlng at Royal Canoo aub and facllity improvements by Teddlngton W8tersports Centre. Totsl expenditure was £51,326- which wmpared to £49,330 In 2019. A surplus arose of £55,253. compared lo a surplus of £188,645 in 2019. The 2019 surp￿5 induded an Incrèaso in the fair value of Ihg Inv8slm8nl property of £20,000. Totsl funds at year-end were £712,978. which includ¢s £90.408 of résirfcled fvnds. In 2019 funds carried ft>rward were £657,725. of whi¢h £53,833 were restricted. The Iruslges ¢onsider tho financial results for tho year lo be satlsfactory. The charity conllnu8d to repay debt and invest In sporting facilili8s. The cash reservès position romalns very healthy and wll enable th8 charity to cthitinue to achleve ils alms in the following years. R•8tsrves The Charit￿$ Foliey on resorve$ is conserVat￿e. Tho irustees reaffirmed at thg 2017 AGM that the Trust should aim to hokl al least 15￿ of annual costs Ica. £25.000) as a reserve. since there could be very substantial costs if major building works were necessary at the slle. This would equalo to ca. £37,500. The policy and approach ha$ not t*ang8d. At the balance sht•l dale. free unrestrfcled ￿serveS {defin6d a5 unrestricted funds exduding tangible fixed assets And loans secured t￿reon) amounted lo £209.470 (2019.. £197.1231. Tho charfty has been building unrestricted reseNe5 over recent years to reach the target. Thls has boen a¢hi8ved and, al and 2020. they exceeded th& level indicated by the reserves polrcy. As a consequence of the Mary Frampton bequest tha Trust now has exlenslv8 ra￿rVeS - suffici8nl to covgr repaymont ol the mortgagè. The Tru$l will reflect on the opportunities thi$ lovel of reserves presents once thè impact of COVID has been worked through. Trn¥te•s' r•sponslblllti Th& Iruslees, who a￿ a150 the direGfor8 of the company for thg puri)os8s of wmpany law. are responglbl8 for prgparfng the Trustees, Report and Ihe financSal statements In accordanc& with appllcable law and Unrt8d Kingdom Accounting Stamlards (United Kingdom Generally Accepted Account￿9 Practice). Company law requires the Ifust8es to prepa￿ financial statements for aath finan¢ialyear. Under that law the Iru5tge8 must not approve the flnancial stalements unless they are satisfied that they gfve a trLre and fak view of Ihe state of affair5 of the charitable company and of the Incoming resources and application of resources. Including the income and expenditure, ol the charltabl$ Gompany lor that peri¢￿. In Fwiaring these financial staloments, the trustèes arè requlrgd to: select sultable a￿0￿￿tIng poh'cios and than apply them consistentty. observe ts melh¢)Js and principles in th8 Charilles SORP.

ROYAL CANOE CLUB TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 make judgments and ac¢ounllng e8tlmat•s that are rgasonabte and wudgnl: and propare thg financial statements on the going concérn basis tsnfess il is Inappropriate lo pr8$ume Ihat the harilabk Gompany wlll ¢ontlnue In operation. The trust88# are respOnS￿le for keeping adequato accounting records that are sufficient to show and oxplain the hayitable cpmpany's transactions 8ftd disclose with r&8sonable accuracy At 8ry time the financial position of the aritsble company and enablè trm to ensure that the financlal 8tstèments compfy with the Companies Act 2006. They ar8 also rosponslble for 5afeguardOng the assets of the charftablè ¢ompany arKI hgnce for taking reasonabl& staps for the prevention and detection of fraud and other irregularities. This report has hèn prepared in acc(danrg With the provisvJns applkabkn to small compantes subJeGt to the 8m811 c(¥i)panie8' reglme in Part 15 of th8 Companles Act 2006. b the board of Iruslee8 on .21 ..c9.:.X.l and siJn•d on Its behal by: ren¢• Chair of the Board ol Trust•O$

ROYAL CANOE CLUB TRUST

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

I report to the charity trustees on my examination of the accounts of the Royal Canoe Club Trust (the Company) for the year ended 31 December 2020.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

………………………………… Amy Healey FCA CTA DChA Lindeyer Francis Ferguson Limited Chartered Accountants North House, 198 High Street Tonbridge Kent TN9 1BE

Dated: 27 September 2021

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ROYAL CANOE CLUB TRUST STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2020 2020 2020 Unr•strfcled Restrfct•d fund$ fund• 2020 Total funds 2019 Total fund¥ Not• InMmo from: alions and legaaes Charitable aclNiliès Invèstments: Réntal incoma Bank Int¢r&sl 25 13.200 71,233 71,258 13,200 183,890 13,200 22,097 24 22,097 24 20,862 23 Total incoma 35.346 71233 106,579 217,975 Exp•ndllure on: In￿stment manag8m•nl (x)sts'. Rental propety costs Charitable a¢tlviltes 9,877 6,851 9,877 41.449 8.985 40.345 34.598 Total axp8nditure 16.728 34,598 51.326 49.330 Nel galntr on Inv&stmonts 20.000 Net Income and net movement kn funds 11 18,618 36,635 55.253 188.645 RoGonclllatl+)n of fund8: Totsl fvnds bro￿ht lorward.. 803.892 53,833 657,725 469.080 Totsl fvnds carrl8d foThvard 17 622,510 90.468 712,978 657.725

ROYAL CANOE CLUB TRUST BALANCE SHEET AS A T 31 DECEMBER 2020 2020 2019 Not• Flx•d assets Tanglbk assgts Invesknent property 12 13 284.C63 220,￿0 288.438 220,000 Currnnl a8Mts Debtors Cash at bank and tn hand 14 307,213 258,065 308,311 258.065 Curr•nt Ilablllt19S Credliors: amounls falhng due vthin one year Ngt curront a￿•￿ 15 (19.1151 (17,5831 289,196 240,482 Credllors". ￿nOUnts falling the after more Ihan ong 16 180,281) 191.193) Total net as#•t• 712,978 657,725 Th• fund* ol tha charlty Unr8Stricted funds Restricted income funds 17 822,510 90,468 603,892 53.833 712,978 657,725 Forth& flnanclal yoar ended 3108cambèr 2020 the th)mpanywas en￿ded to èxomptl'on from audit under s8clion 477 of the Cfymp8nie$ Act 2006. Trusta88' responslbllllles.. The members have not requirad the company to obtain an audit of its financlal statements for the year in quesllon In accordance wth section 476; 8nd - The truslees acknovledge thgir responsibilitt8s for ¢ornp￿ng vAth the r6qUIr￿nI$ of lh8 Act wilh respect to accwnting record$ and the pmparation of financial statements. proved by the board of Irustees on 21:..c9....21....... and signed on its behalf by. Davld Lawren¢• Chair James Clark Tn￿le8 coM￿Y numb•r. 2857013

ROYAL CANOE CLUB TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 STATUS Royal Canoe Club frust Is a charltable company tsmited by guarantee inwrporated in England and Wales. In thg event of the company belng wound up. the liability in respect of the guarantee 15 limited lo £1 per member of the tharity. The address of the registered office is Thè Clubhous8, 1 Tro5￿0Ck Island. Teddlnglon. Mlddlesex TW119QY. ACCOUNTING POUCIES The principal accounlng poUd¥s adopted. fvdgemènts and key Sources of ostlmatlon uncertalnty In th• proparalkjn of the finandal stalem8nts at8 as foll0v￿.. 2.1 Ba•h of pr•paratlon The financtal ststemenls have been pr6parod in accordance ￿￿th 'AGc4)unlirsg and Reportlng by CharllEes: Statsment of Rewnmend¢d PraGliGe appllcable to L*arfti•s preparing Ihelr ac£ounl$ In accordance the Flnanclal ReportiNJ Standard applcablg in the UK and Republic of Ireland (FRS 102). {effectlve 1 January 20191- (Charities SORP IFRS 10211, the FinarKial Repo￿ng Slandard applcabb in the UK and Republic of lieland IFRS 102) and the Companles Act 2006. Royal Canoe Club Trust meets the definllon of a public b8nefil entity under FRS 102. Assets and Ilabilllles are Inlflally recognised at historical cost or transaclion value unless 0th8Nse $lat8d in the re￿vant aC¢oUnt￿9 poky notelsl. Thert arg no mat•rial uncartaintifrs about the charitys abilily to contlnu6, and so thfr golng concem basls of accounting has adopted. Th6 firwKial statements are prosgnted in pounds sterling and round8d to the nearest pound. 2.2 In¢om• Income from donation8 and grants is reC(￿nIsed then the chartty Is enllll8d to the funds, the recelpt Is probabl• and Ihe amounl can be meaSu￿d reliably. For donations. this is usualty on receipt. For grants. this 1$ Usually vknen a lormal offei is made in writing, unless the grant contsin$ lenns and conditions t)ulside of Ihe aritls control which musl be met bofore Ihe charlty Is entilled to the fLtnds. Income from chafitable activitt8s and invéslnpnls comprise rental income from rentals in the furtherancg of the charitable oblecls or lo ggner3le funds lor the Charl￿ble objocts respecllvely. and bank Interest. R8ntsl inry)me is rncognis•d over the period lo vthich il r8tat8s. Bank interasl Is ro¢ognlsgd wthen recelvable. The charity is not VAT•register8d. 13 Exp•ndit4we Expendituro is recoynised when a present legal or constFudive obligation exists at the balance sheet date as a resull ol a past event. il Is probable that a transfer of economic benefits will be required to settle the oblgation. arbd the amount can be e$timaled reliab￿. Expènditure h88 been cknssffied under headings that a Irrecoverable VAT. regale all costs related to Ihe $2te9cry and includes

ROYAL CANOE CLUB TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 ACCOUNTING POLICIES ¢ontlnu•d 2.3 Exp•nditurn ¢ontinuod Grants paydbl8 arg recognlsed Ythen lh8 grnnl has been formaly approv8d by th8 trustees ancl confkmed lo the grantse. Support C05ts. vthlch 8re Ihos• ¢osts retating to funct¥Jns which assist tho VDrk of the charity but do not d￿ctlY r91818 to its aclivilies. have been allo￿ted belv+en charrtable actsvitses and Inveslnnt managemenl livibes on the basts of inoome genèrated. 14 Fund xcountlng Unrestricted funds can be used in 8ccordance V+ilh the charilable obkcuves al thè discretion of tho trustees. Regtrietèd funds can only be used for the partlcular restricted purposes wlhin the objects of Ihè charity. Re$lrfclbn& arise vthen speclfigd by tha donor or when funds are raised for particular rèslricled purposes. IS Tanglbl• ffix•d ss•ts and dttpreclatlon Tanglble fixed assets are staled #t co$l18sg depreciatk¢t. DeFwlatlon Is prtivided at rates cakul8ted lo write oft the Lwt less eslimated reallsable value of èach asset ovgr Its expected useful Ilfe. a$ follow8". Freehold land Freehold bulldlngs Not depreciatsd 2% straight line 18 Investment propèrty Investm￿t prO￿rtI9$ are initially recognised a* Ihelr Iransaclion cost and subsequently mèasured al fair valug al ihe balance sh8et dale. Changes in fair valu8 are shown In the $talem8nt of finanoal advities. 2.7 Flnanclal In#trum•nts The charity only has Ilnancial assets and finan¢ial liabilllies of a kind that qualtty as baslc financlal Inslrum6nts. Basic financial instwmenls aro inllially recognisod al transaction valu8 and subsequèntiy measured at thelr $8tt1gment valug wlh the exc8Ptlon of bank loarts which are subs8quenlly measured at amrtised co81 using the effecliva interest melhod. 10

ROYAL CANOE CLUB TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEAI8ER 2020 IMCOME FROM DONATIONS AND LEGACIES 2020 2019 Donations Logaci08 71.258 45.631 138.259 71,258 183.890 4 INCOME FROM CHARITABLE ACTIVITIES 2020 2019 Acllvlty.. supportlng Water￿elated and otheramaleursports Prov15ion of facllities for Ihe benefit ol waleTSPOrts clubs 13,200 13.2CIO 13,200 13.200 5 RENTAL INCOME 2020 2019 Rent of sludenl accx)mmod811on at Rob Roy House 22,097 20.862 22,097 20.862 RENTAL PROPERTY COSTS 2020 2010 L¥Jht and heat Water and wunGil rotes Allocallon of support costs 2.875 3.053 3.949 2,772 1,960 4,253 Not• 9 9.877 8,965 11

ROYAL CANOE CLUB TRUST NOTES TO THE FINANCIAL STATEMENTS R)R THE YEAR ENDED 31 DECEMBER 2020 EXPENDITURE ON CHARrrABLE AcnvmES 2020 2019 Admiy.. suppothng water4vlatedand otheramat•ursport8 Grants to inslilutions Staff costs- head c08d) All¢￿tion of support 1,751 33.088 6,610 24.832 8.792 6.721 Note10 Note 9 41,449 40,345 Grants to Institutlons comwiso £1,751 to the Sklff Club 12019: £nil), £N￿ to Walbrook Rowin9 Club12019: £11,026), 8nd £NlI to the Royal Canoe Club12019.' £13,086). Th8 supp¢Jrt costs relate to the yovlsbn of facllitles for the benefit of vmtarsports club$. RESTRICTED INCOME AND EXPENDmiRE Duiing prbr porlod r￿trIcted Inco￿ from donations of £44,467 was receivable. Dunno prior porfod eXp￿dIture on charitable activlliès includèd restrided expendilur8 of £19,526. SUPPORT COSTS 2020 2019 Othor 8dmlni8trativo expen888 Deprgciation Bank loan inleiesl Govornance cosl8.' Aco)unlancy and independenl examination 1,238 4,374 2.247 892 4.374 2,935 2.700 2,773 10.559 10.974 10 STAFF COSTS 2020 2019 Wages and $818ries Social s8curity costs Pension rthts 32.307 8,500 292 781 33,088 8.792 Thè avérage number of ?mploy8es on a hoadcounl basis, during the yoor was 112019: 1). No enwloyee re¢èiv811 emph)y60 b•nefrts of n￿re than £60,OIXI in thg current or precedng ytrar. 12

ROYAL CANOE CLUB TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 11 NET INCOME 2020 2019 Nel kncom• is stated aft8r chargin9". Ind8p•ndent examinerfs fee5- examination Ind8pefKlent exaThIn￿$ fog$- accounts Depreciation 1.873 4,374 4.374 12 TANGIBLE FIXED ASSETS Freèhold property Cost Al 1 January 2020 and at 31 D￿ernber 2020 388.014 Dopr•¢iatlon At 1 January 2020 Charge for the year 99,577 4.374 At 31 Dotsmber 2020 103,951 Net book valu• At 31 Decembw 2020 284,063 At 31 Dgcomber 2019 288.437 Freehold propoty Incljdes land valued al £169,310 (2019: £169,310) which is not d8prociat8d. 13 INVESTMENT PRopeRTY Market value as at 1 JaThJary 2020 and 31 Dac8mb8r 2020 220.000 The inveslmont Pro￿ty was valued at the yeaf end by the tru81ees based upon ils localon and al80 its situation above the Boot House. 14 DEBTORS 2020 2019 Gift aid recov6rnb Other debloTS 394 704 1.098 13

ROYAL CANOE CLUB TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 15 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2020 2019 Bank loans Nel wages cnnlrol account Other tax and social se￿ty other creditors Accruals 10.742 2.144 606 163 5.460 10.474 2.222 2,127 2.760 19.115 17,583 16 CREDITORS.. AMOUNTS FALUNG DUE AFTER MORE THAN ONE YEAR 202 2019 Bank loans 80.281 91,193 Amunls repayabk after more than five years: By ￿stalMentS 34,532 46,587 The bank loan Is the charfb/s only financial Instrument Tr*asured al amortised cost. Thé interest expense for the ￿ar recowised on the bank loan was £2,24712019.' £2,935}. Th8 bank loon is secure¢J by way of 8 fitst legal charge over th9 freehold propoty. The108n be8rs fftter6st 8t a rate of 2% abovg base rate and is repayable over 25 years. 14

ROYAL CANOE CLUB TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 17 MOVEMENT ON FUNDS Gqlns I At31 (LOS￿¥) 2020 Jan 2020 Cwrfrnt y•ar. Unre$trfeted funds General fvnd Incom• Exp•ndllure 603.892 (16.7281 622.510 603.892 35,346 116,7281 822,510 R••trld•d fund$ Walbrook Rowing Club- equipment Coaching Teddlngton Wa10rsports Cèntre- new faclNlie$ Th8 Skifl Club- sportthg 6qulpment 1,075 5,141 46.107 1.510 1,075 24.286 52.233 (33,0881 19,QIXI 65,107 11,6101 53,833 71.233 (34,5981 90.468 657,725 106.579 (51.3281 712,978 The ￿st￿ted lun¢Js arf88 from grants and donations to fund partScular propcts or items of exp8nditUfè. and unused inwm8 is carrled forward lo cover futuré expendltura on those areas. Gains I {Lo8$es) At31 D•¢ 2019 Jan 2019 Prlov y•ar: Unro$trlct•d funds Gpneral fund In¢om• Expendltur• 440.188 173,508 { 29.8041 20,000 603,892 440,188 173,508 129.804) 20,000 603.892 Rgstrl¢led funds Walbrook Rol￿ng Club - coaching Walbrook Rowing Club- equipmgnt Royal Canoe Trust- coaching Teddington Watersports Centre- new I The Skill Club- sporting equlpment 7.026 75 9.266 28,O¢yJ 100 (7,0261 14,0001 { 8.500) 5,000 4,375 18,107 1,410 1.075 5,141 46,107 1,510 28,892 44.487 { 19,526) 53.833 469.080 217,975 (49.330) 20.000 857.725 15

ROYAL CANOE CLUB TRUST NOTES TO THE FINANCIAL STATEME FOR THE YEAR ENDED 31 DECEMBER 2020 18 ANALYSIS OF NET ASSETS BETWEEN FUNDS Ra$trfetod UnM$trlcted lunds fund8 2020 2020 rotal funds 2020 Currnnt ￿•r. Fixad assets N61 currgnl assots Crèditors due In rrKKe than ¢no year 504.063 198.728 180.281) 504.063 289.198 180,281) 90,468 90.468 622.510 712.978 R••trfetsd Vnrngtrl¢tsd funds funds 2019 2019 Total Prlor y•ar: 2019 Ffjxed assets Nel eurrent assets C￿di￿r$ due in more than one year 508.436 186.649 191,1g31 508,436 240.482 191,1931 53.833 53.833 603.892 657.725 19 OPERATING LEASE COMMITMENTS As shown in In¢ome from charrtable acliviti•$ the charity fents its freehold propgrty for watersport tivilies. Th8 charfty ha8 fvture minimum leas• paymonls r8clvable of £13,200 whlch are due In not latar than one y8ar12019.' £13.2001. 20 RELATED TRANSACTIONS Th? Irust••s ar• considered to be th$ tharlvs key managemèni pgrsonnel. None of the trusteos received any remuneralion, reirtiUrs￿ gxpen888 or other benefits during ihe ¢xrrenl or pdor perfod. Expanses waived are not consldgred lo be materlal. Tho daughter of Akn Willlams, Ifuslee. rented out one of th• charit1$ stud￿1 accommodations in tho prfor year. The amount ree6iVO(I In the year ps £Nil12019: £5,005). Jonathan Bofvi. tntst88. rontpd out cTh of tho charws 8lud¢nt accommodations in th• prior yeaf. The an￿Unt recelved in the was £NII12019.' £3,948). 16