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$ume Ihat the
harilabk Gompany wlll ¢ontlnue In operation.
The trust88# are respOnS￿le for keeping adequato accounting records that are sufficient to show and oxplain the
hayitable cpmpany's transactions 8ftd disclose with r&8sonable accuracy At 8ry time the financial position of the
aritsble company and enablè tr*m to ensure that the financlal 8tstèments compfy with the Companies Act 2006.
They ar8 also rosponslble for 5afeguardOng the assets of the charftablè ¢ompany arKI hgnce for taking reasonabl&
staps for the prevention and detection of fraud and other irregularities.
This report has hèn prepared in acc(*danrg With the provisvJns applkabkn to small compantes subJeGt to the 8m811
c(¥i)panie8' reglme in Part 15 of th8 Companles Act 2006.
b the board of Iruslee8 on .21 ..c9.:.X.l and siJn•d on Its behal by:
ren¢•
Chair of the Board ol Trust•O$

## **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 

6 



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 V*Drk of the charity but do not
d￿ctlY r91818 to its aclivilies. have been allo￿ted belv+*en charrtable actsvitses and Invesln*nt 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 r8c*lvable 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