River Thames Boat Project General Report and Financial Statements 2023-24
Company Number: 3953201 Charity Number: 1080281
| Contents | |
|---|---|
| Directors' Report |
1 |
| Directors' Report - Review of the Year | 5 |
| Public Benefit Statement | 9 |
| Financial Results | 10 |
| Clients | 12 |
| Donors and Benefactors | 13 |
| Volunteers | 15 |
| Financial Statements - Accounts for 2022-23 | 17 |
| Notes to the Financial Statements | 21 |
| Independent Examiner’s Report on the Accounts | 30 |
Directors’ Report
General Information
River Thames Boat Project is a not-for-profit company limited by guarantee that is registered with the Charity Commission.
The charity’s mission is to give people opportunities of experiencing river and waterways environments for the benefit of their personal, social and educational development. We focus especially on children, young people, older people and those with disabilities from London and the South East.
Patrons:
Baroness Jane Campbell of Surbiton DBE Anne Usher (née Dickins) MBE Sir David Suchet CBE
Honorary President : Richard Robinson
The Trustees and Directors of the Company are:
Paul Barry David Bell (retired May 2023) Richard Boult Jon Chapman (retired November 2023) Heather Dawson (Vice Chair from November 2023) Chris Deavin (Chair to November 2023) Matt Harrison (elected November 2023) Maria Netley (elected November 2023) Jane Newman John Tamsitt Steven Wibberley (Vice Chair to November 2023, Chair from November 2023)
Company Secretary: Linda Varney
1
Principal activities
River Thames Boat Project provides therapeutic and recreational cruises and educational activities on the Thames, using our community boats, Thames Venturer and Thames Discoverer. Our boats are crewed by volunteers working with trained skippers. We run therapeutic full-day and half-day cruises, designed to provide a beneficial experience for people with physical or learning disabilities, and for older people.
We offer a range of educational programmes and activities, mainly (but not exclusively) for younger people. These include School on the River and Eco Venturers days, which are for primary school aged children, and shorter sessions for youth groups. Our educational activities are professionally led and supported by volunteer teachers.
Further information about how we deliver our charitable purpose and what we do is available on our new website, www.thamesboatproject.org.
Community presence and fundraising
As part of building community links, and for fundraising purposes, we take our boats to local riverbased events, and work with other river-based organisations.
In 2023/24 we delivered presentations to community groups in the area, attended some local fairs over the Summer and ran water stations at various running events across Richmond and Kingston boroughs, for which the charity received a donation from the organisers.
In May 2023 we held a very successful volunteer recruitment day at our dock, which led to a large number of new volunteers on both the cruising and education side of the charity.
We also use our boats, when not on core client or community business, to earn additional income to support our work, ensuring that these events and activities are in line with our charitable purpose. We offer the boats for evening cruises, for experiential learning opportunities, for community hospitality events or meetings, to Friends of the River Thames Boat Project (an organisation run by volunteers to bring financial support to the charity) and to volunteers for their own gatherings and fund-earning events.
Details of events, training days and income-raising cruises in 2023-24 are provided in our Public Benefit Statement on page 9.
2
Staff and volunteers
Our activities are managed and delivered by a team of part-time staff, each with specialised talents and skills in their area of responsibility. In 2023-24 these were:
Hannah Bottomley - responsible for managing our education and learning activities.
Pippa Butterfield - responsible for client bookings, office management and finance.
Glenn Collins - responsible for skippering both boats and the management, safety, upkeep and maintenance of our boats.
Neil Couzens - General Manager of the team and responsible for marketing and fundraising, including grant funding and community liaison.
James Huddleston (left November 2023) - responsible for deputising for Glenn Collins in responsibility for maintenance of both boats and skippering.
The charity benefits from the support of many volunteers, who act as skippers, boat crew and teachers, as well as event and fundraising supporters and office helpers. A full list of our volunteers is given on page 15.
Equality, training and people development
The directors pursue a policy of equal treatment towards people with physical or mental disabilities, who form an important part of our clientele. Thames Venturer was converted to make it possible for wheelchair users to access all passenger facilities on board, including the toilets and shower. Thames Discoverer was specially designed as an accessible boat, with the needs of our client groups in mind.
We apply a policy of equal treatment for all staff and volunteers, who need to be able to perform the duties required of them in a safe, timely and effective manner, recognising that our clients' health, safety and welfare remain paramount.
This means that we devote a significant number of days a year to developing staff and volunteers’ skills. Crew training covers boat operations, health and safety, emergency drills, safeguarding and disability awareness; in addition, we run teacher training days for those working on our education programmes and activities.
3
Risk
Because of the nature of our work on the water, it is our policy to keep business risk and operational risk assessments up-to-date and to adopt measures to mitigate or minimise identified risks to the greatest extent practicable. We have a thorough Risk Assessment process based on risk severity and mitigation.
We began our busiest period of the year with the river in flood, making it unsafe for navigation, leading to a delay in the start of the cruising season. This coupled with mechanical issues on both boats, and with Thames Discoverer in particular, impacted our ability to earn cruising income in the season.
The issues have been resolved and the Trustees and Boat Manager have worked hard to invest in and maintain the operational effectiveness of both boats. We have also recruited and trained more volunteers to crew and skipper both vessels, in order to increase our capacity for both cruises and education.
Repair works to Teddington Lock Bridge meant that the majority of our Autumn school sessions had to be moved to our dock. Fortunately most schools were happy with this and we only lost 2 school days as a result of the relocation.
The Directors are working on strategies to increase income to cover this impact on our boat maintenance reserves and to return us to operating break even. This was also a key objective of the General Manager, who joined the team in April 2023. The investment in boats and in our staff will strengthen our operations and our ability to help those in need through our services for many years to come. Signing the long-awaited lease for Canbury Wharf will allow us to develop the wharf as moorings for boats and a hub for our activities. Our vision includes creating a safe, accessible space that becomes an integral part of the local community. Having the security of the wharf will help us plan for the future.
4
Review of the Year
Summary
During 2023-24 River Thames Boat Project continued to provide time on the river for those who otherwise couldn’t have access.
Our education work continues to connect children with nature and enriches the educational experiences of young people by bringing the curriculum to life. Our cruises provide respite and therapeutic time on the river, supporting mental well-being and connection with the natural world.
We ran a total of 82 cruises and 65 education days, slightly down on the previous year, with a total of 2,908 people joining us on the river. However, the 2024 season has seen a number of schools telling us that parents cannot afford the cost of a day with us, and recent bookings from schools have been slightly down. We continue to receive very positive feedback from our clients and have recently started a new evaluation process with them. Teachers scored us 4.7 out of 5 for quality of services and 71% of children gave a happy face response versus only 3% giving a sad face!
We've had a really wonderful day. It's been fantastic and the activities fit perfectly with our curriculum. Thank you, you are amazing. (Teacher)
We have continued to work hard to recruit, train and support our volunteers. In May 2023 as part of the UK wide “Big Help Out” we ran a volunteer open day at Canbury Gardens with over 65 potential volunteers coming to talk to us, see the boats and have a short trip on Discoverer.
Upkeep of both boats inevitably is a never-ending job. In Spring 2024 Venturer had its five-yearly dry dock inspection and hull survey. Our anxieties about the condition of the aging hull were justified and some of the steel was only a few millimetres thick. However following some welding on of plates and other repairs, the surveyor was happy with the condition of TV and she is back on the river. This again has prompted the question about her long term viability and the Trustees and other colleagues continue to explore options for the future.
Following successfully agreeing the lease of Canbury Wharf, we have started works on improving pathways and installing electricity. There is now a smart new fence and gates securing our space. Sewage and a permanent water supply are proving more of a challenge. This work has been supported by a grant from Kingston Council.
Our funding continues to be a challenge. Income from charging clients covers around 40% of our expenses and we need to raise the remaining 60% from a range of sources including donations, trusts and foundations, and corporate partners. Like many charities we see funders tighten their
5
criteria or even close altogether for new applications. We continue to be very grateful to the Trustees of CH Dixon and Kaye Pemberton trusts who provide generous support. This year we were also successful in securing funding from the National Lottery Awards for All fund.
This trip is ideal for our client group who are severely disabled but do respond to new and different environments. The crew were, as always, exemplary! (residential home )
All of this work wouldn’t be possible without the hard work
and commitment of all our volunteers, staff and Trustees. Particular thanks go to Glenn Collins, Boat Master, Hannah Bottomley, Education Manager, and Pippa Butterfield our Office Manager, who continue to run the charity with professionalism and passion. I would also like to thank our President Richard Robinson, whose support and wise words have been so valuable.
I would like to pay tribute to David Bell and Peter Low, both former RTBP Trustees. David had lived with cancer for many years and died in May. He was a generous and committed volunteer who made a significant difference in helping RTBP keep the boats running and shared his deep knowledge of all things mechanical and electrical, being of particular help to Glenn. Peter Low had previously stepped down as a Trustee. In his work with the charity he always displayed great energy and a positive and practical approach. His nautical experience including understanding marine law and regulations, were a huge asset. He was a true gentleman. We will miss them both.
Finally, after four years, I am stepping down from the Board. I am leaving with fond memories of my time with the charity and what we have achieved together. I remain full of admiration for all my colleagues who commit so much time and energy to providing access to the river for those who need it most.
6
Operations – cruises and educational activities
In 2023-24 we again faced a number of challenges: The river being in flood at the start of the season, Thames Venturer requiring significant works and Thames Discoverer suffering a mechanical fault, which led to her being out of service for a number of weeks. We are fortunate to have two boats, so many of the cruises could be transferred onto Thames Venturer , although a few had to be cancelled or postponed to the following year, which accounts for a lower number of cruises than anticipated.
Despite these challenges we still had over 80 cruises and welcomed back many organisations, as well as securing bookings with organisations new to us. Feedback was very positive.
Neil Couzens joined us at the beginning of the financial year 2023-24 and worked to bring in many new grants, notably from Kingston Council and the National Lottery. Neil left the charity in May 2024 and Gary Farmer has been working with RTBP on a freelance basis, until a new permanent Fundraiser is recruited. James Huddleston, who deputised for Glenn in maintaining and skippering the boats, finished his paid contract with the charity in November 2023 but has continued to volunteer as a skipper.
Education had a busy year, with Hannah leading an enthusiastic team of volunteers. She trained a number of new teachers (most or whom joined the project following our Volunteer Recruitment Day); updated our Eco Venturers programme; developed Venturer Club, a school holiday programme and trialled a pre-arrival pack for schools, designed for children with Special Educational Needs.
Due to the repair works on the bridge at Teddington Lock, many of the Autumn school sessions were delivered at our dock in Kingston, which presented some challenges, mainly not being able to experience the lock and the weir. A custom jetty was built upstream from the lock to ensure we could place our gangway safely and remain fully accessible to clients. After many delays the jetty was finally ready for use at the end of October, and we were able to return to Teddington for the school sessions in November. Feedback remains very positive as highlighted in the Review of the Year summary on page 5.
7
Fundraising
Like many charities we are experiencing a squeeze on our finances. Boat costs can be unexpected, even with the best management, and we are working hard to secure new funding and grants.
The amount raised from fundraising in 2023-24 was slightly higher than in 2022-23, as were the amounts received from all revenue streams, particularly donations, which meant that our income this past year was significantly higher than in 2022-23.
The work that we do on the river is also supported each year with donations from regular individual funders, as well as from trusts and other charities. These individuals and organisations, who recognise and appreciate the important benefits provided by our days on the river, include the CH Dixon Charitable Trust, the Elizabeth and Prince Zaiger Trust and the Kay Williams Charitable Foundation. We are grateful for their continued support.
We were very fortunate to receive grants during the year from The Barnes Fund, Hermitage River Projects, the Kaye Pemberton Trust, the Prince of Wales Charitable Trust, Richmond Parish Lands Charity and the Rotary Club of Twickenham upon Thames.
The continued support of the Friends of the River Thames Boat Project was key during the year. This regular income, through subscription fees and from associations, provides important stability to the charity and we really appreciate it. During the year, we were sad to lose a few Friends from the RTBP family but pleased to welcome some new Friends.
Bookings of the boats for private and volunteer fell slightly in 2023-24. These activities take place in the evenings and at weekends, outside our core charitable activity time, and this productive use of our boats provides much needed income.
Other fundraising activities in 2023-24 included managing water stations for running events, for which the charity receives a donation from the organisers, a quiz night and volunteer social events, such as Bangers and Fireworks.
It is a strategic priority of RTBP to increase income next year.
8
PUBLIC BENEFIT STATEMENT
In considering the charity’s activities, the Trustees have due regard to the published guidance on public benefit.
In line with our charitable aims, we run a variety of programmes and cruises for schools and for socially-excluded groups, and provide transferable skills training for our volunteers. People of all ages benefit from our services and activities, including those who are vulnerable, isolated and disadvantaged through having disabilities (including mental health conditions), older people, disadvantaged service and ex-service men and women, carers of all ages, young people and school children.
We also offer a highly rewarding environment for local people who want to volunteer with us, including those in retirement. All our volunteers benefit from this active and stimulating form of volunteering. In 2023-24, we had 101 volunteers.
In 2023-24 we provided:
-
82 Therapeutic cruises on the river for 880 clients
-
65 Education days for 2,028 school children, accompanied by teachers and helpers.
-
6 Cruises for volunteers and private community hire
We held:
- regular crew training and maintenance days for our volunteer crew and skippers, and 5 teacher training days for our volunteer teachers and teaching assistants.
9
FINANCIAL RESULTS
For the year ended 31[st] March 2024, the charity incurred a shortfall of £22,887.
It was a challenging year financially with Thames Discoverer out of service at various times during the season, due to high river levels and a mechanical fault, which led to the cancellation or postponement of various trips. This resulted in both a loss of fee income and significant spends on repairs and maintenance. Our fee income from client activities pre-Covid in 2019-20 was £61,403 and represented around 30% of our income. 2023-24 was looking to be a good year both cruising and education-wise. However due to the problems with river levels and Thames Discoverer, cruise income was not as high as anticipated and total fee income was £52,645, about 28% of income.
The operational loss was the result of lost cruising time during the year when the river was not navigable and Thames Discoverer was out of action due to the mechanical fault, as well as expenses incurred due to essential repairs to both boats. Most of the money for this work was taken from the Designated Development Fund.
At the end of the financial year, the Designated Development Fund (DDF) balance was £195,838. In time, this will reduce as further capital investment is required to maintain and improve the Canbury Wharf site in Kingston where our boats are moored, in line with Kingston Council’s wishes, and further investment will be needed to maintain and repair our boats. This expenditure will ensure a consistent and reliable service and will allow the charity to increase the scope of its activities and increase its client base.
10
Financial Audit
For the year ended 31[st] March 2024 the charity was entitled to exemption from audit under Section 477 of the Companies Act 2006 and under Section 144 of Charities Act 2011.
The statements that the directors are required to make in such circumstances are attached to the Balance Sheet. Jon Blythe, a registered chartered accountant, has conducted an independent examination of the accounts and a copy of his report is attached to the accounts.
Steven Wibberley Chair of Directors
1[st] November 2024
Signed with the approval of the Directors on their behalf
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Clients 2023-24
Client groups marked with an asterisk were new clients in 2023-24. Clients in bold are umbrella organisations which booked cruises for the organisations listed below them starting with a hyphen.
| Abbeyfield - Cheslsea & Fulham | Galvani Charitable Foundation* | Newland House School |
|---|---|---|
| Access Project | Gemma Hindi | Norwegian School |
| Achievingfor Children | Giles Dimock | PutneyHigh School |
| ActivityStation | HANDS | Refugee Action Kingston |
| Alexandra Primary | Hugh Fells | Richmond YoungCarers |
| Barnes Primary | JennyMeers* | Roehampton Limb Users Group |
| BishopPerrin* | Kingston Centre for Independent Living | Royal Hospital for Neurodisability |
| Brinsworth House | Latchmere School | Sight for Surrey |
| British Polio Fellowship | Lathom Junior School | St Marys & St Peters C of E PrimarySchool |
| Buckingham Primary | Leopold PrimarySchool | St Andrews & St Marks C of E Junior School |
| Care UK | Lest We Forget | St John the Baptist Junior School* |
| - Greville House | - BLESMA | St Marys C of E PrimarySchool |
| - Sherwood Grange | - Care Ashore | St Pauls C of E PrimarySchool |
| - Tennyson Grange | - Friends of Sussexdown | StanleyPrimarySchool |
| - White Farm Lodge | - Royal Alfred Seafarers | Thomas Buxton PrimarySchool |
| Crentral & Cecil Housing Trust - Cecil Court |
- Royal Green Jackets | T.R.E.E.S. |
| Chase Bridge PrimarySchool | - The Royal Star & Garter Home | - Alfriston DayCentre |
| Choice Care | - Scotty's Lttle Soldiers* | - Ali's Home |
| Colliis PrimarySchool | - St David's Home | - ApplebyHouse |
| Coombe Hill Junior School | - Stoll | - Banstead Road |
| Crossroads Care | Lynde House | - Ducklys Farm Centre |
| Earlsfield PrimarySchool | Marlborough PrimarySchool | - Links Close |
| Edison PrimarySchool | MayburyPrimarySchool* | - Raleigh House |
| Edward Betham PrimarySchool | Meadlands PrimarySchool | Worple PrimarySchool |
| FiSH Neighbourhood Care Scheme | Mottistone Grove | Yorda Adventures* |
| Friends & Neighbours |
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Donors and Benefactors 2023-24
Our work is made possible only by the generosity of the charity’s numerous supporters. The Directors would like to thank all the many individual and corporate donors, charitable trusts, companies and other organisations that have contributed through donations, grants and gifts in kind. The list of all those who have given so generously, including all the Friends of the River Thames Boat Project, is too long to be fully given. We would particularly like to mention the following:
| Awards for All(National Lottery) | RosemaryDoidge | Jane & Jim Jewell |
|---|---|---|
| BarryAdams | Dutch Barge Association | KayWilliams Charitable Foundation |
| David Baker | Paul Edelin | Kaye Pemberton Charitable Trust |
| Barnes Fund | Sarah Edmonds | KBC Special Events Ltd |
| Paul Barry | Elizabeth and Prince Zaiger Trust | John Kennett |
| David Bell | Euromonitor International | Kingston Charitable Foundation |
| Josephine Bonfield | Duncan Faircloth | Keith Knox |
| John Brocklebank | Peter Finch | Chris Lemon |
| Val Butterfield | Leigh Fincke | Peter Lindsay |
| Paul Bywaters | Diane Fraser-Watson | John Maguire |
| John Cannon | Friends of Sussexdown | Graham Marshall |
| Jon Chapman | Bamber Gascoigne | Sue & Ian McNuff |
| Chapman Charitable Trust | The Good Companions | Mike Mendelson |
| ChemFlow Environmental Ltd | Roger Goodier | Clive Mitchell |
| Michael Cooper | Adrian Gray | WendyMoss |
| Edward Corbett | KerryGreaves | Willie Munday |
| PennyCowell | Jim Green | Jane Newman |
| Peter Cowell | Zaria Greenhill | NHP Leisure Developments |
| Bruce Cryer | Margaret Harrop | NHS Winter Engagement Fund |
| Bob Darke | Hermitage River Projects | Kate Oatham |
| Rob & Anna Davison | Sarah Herrick | John Ormsby |
| Heather Dawson | Celia Hodges | Christine Pickard |
| Giles Dimock | John & Jacqui Humphreys | Sarah Price |
| CH Dixon Charitable Trust | Susannah Hughes | Prince of Wales Charitable Foundation |
| Kate & Matt Dodds | AnthonyHutchinson | Derek Plummer |
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| Alan Powell | Louise Sibley | Waitrose |
|---|---|---|
| Mark Prest | Noel Simmons | Vivian Walker |
| H RichardQuinn | Carolyn Smith | MaryWeber |
| Richmond Parish Lands Charity | Mike Sullivan | MaryWebster |
| River Thames Society | Tamesis Club | Rosamund Webster |
| Ellen Robins | John Tamsitt | Steven Wibberley |
| Richard & Jane Robinson | Gillian Thorpe | Anthea Wilkinson |
| Rotary Club of Teddington and the Hamptons |
Martha Tressler | Tim Williams |
| RotaryClub of Twickenham | Twickenham Women in Fellowship |
Marilyn Wood |
| RotaryClub of Twickenham upon Thames | Linda Varney | JessanyWooding |
| Elaine Russell |
14
Volunteers 2023-24
Our thanks go to the many volunteers who make our work possible. Volunteers perform a wide range of roles in our charity: skippering, crewing, teaching, maintenance, event organisation and manning, catering, administrative and IT support, communications and running the Friends of the River Thames Boat Project. The charity functions over such a wide spectrum of activity due to the many wonderful people who give their time so generously each year.
| Paul Barry | Ian Galloway | Jane Newman |
|---|---|---|
| David Beaumont | David Garcia | Maria Netley |
| David Bell | Fred Green | Kate Oatham |
| David Bentley | Catherine Greenwood | Richard Oatham |
| Pamela Bentley | Emma Greenwood | Brian O'Connor |
| Richard Boult | PennyHamer | Tim Parish |
| Ian Boyd | James Hamilton | Alan Parry |
| Jane Bradwell | James Harding | Hilary Pereira |
| Mark Bridger | Matt Harrison | Melanie Pratt |
| David Brown | Hazel Hayes | Alan Sammonds |
| Paul Bywaters | Sarah Herrick | Mike Seignior |
| John Cannon | Bernie Hewitson | Josh Smith |
| David Carter | Vanessa Hodder | Kevin Smith |
| Jon Chapman | Dan Holden | Warren Stein |
| Ian Chappell | Julian Holden | Rik Stickney |
| Frances Chattaway | Stephanie Horsfield | Juliet Strong |
| Steve Crelley | James Huddleston | Mike Sullivan |
| Heather Dawson | Anne Hutchins | John Tamsitt |
| Chris Deavin | Phil Hutchings | Jane Thompson |
| Damian deBacker | Richard Kersey | Patrick Thornton |
| Hannah Dempsey | Peter Kitchen | Martha Tressler |
| Giles Dimock | Keith Knox | Chris Vallender |
| Colin Dipple | Lenny Langridge | Linda Varney |
| Jenni Dipple | Marilyn Larden | Julian Walford |
| Neil Dipple | Runa Larsen | Jane Walton |
| Kate Dodds | Richard Leeson | Alastair Whyte |
| EmilyDundon | Peter Low | Steven Wibberley |
| Paschal Egan | Graham Marshall | Anthea Wilkinson |
| Lesley Eiloart | Heather Mathew | Barbara Williams |
| Melanie Eyers | Julian Meers | Mick Williams |
15
| Peter Finch | Mike Mendelson | Nigel Williams |
|---|---|---|
| Mike Freeman | Juliet Mills | John Wilson |
| John Frye | PennyMoss | Simon Worthington |
| Pete Gallon | Jane Muir |
16
River Thames Boat Project
Statement of Financial Activities
(Including Income and Expenditure Account)
for the year ending 31st March 2024
| River Thames Boat Project Statement of Financial Activities (Including Income and Expenditure Account) for the year ending 31st March 2024 |
||||
|---|---|---|---|---|
| Income: Donations and legacies Income from Charitable activities Other trading activities Income from Investments TOTAL INCOME Expenditure on: Raising Funds Charitable activities TOTAL EXPENDITURE Net income/(expenditure) Gains/(Losses) Net movement in funds Reconciliation of funds Total Funds 1 April 2023 brought forward Net movement in funds Total Funds 31 March 2024 carried forward |
Unrestricted Funds £ 93,336 52,645 6,031 4,468 156,480 (476) (176,798) (177,274) (20,793) 0 (20,793) 759,513 (20,793) 738,720 |
Restricted Funds £ 30,843 0 0 0 30,843 (51) (32,886) (32,937) (2,094) 0 (2,094) 27,140 (2,094) 25,046 |
Total Funds Notes 2023-24 £ 124,179 3 52,645 3 6,031 3 4,468 3 187,323 (527) 4 (209,683) 4 (210,210) (22,887) 0 (22,887) 786,653 (22,887) 5 763,766 |
Total Funds 2022-23 £ 111,854 34,245 5,482 2,476 |
| 154,057 | ||||
| (1,164) (210,082) |
||||
| (211,246) | ||||
| (57,190) 0 |
||||
| (57,190) | ||||
17
River Thames Boat Project
Balance Sheet
as at 31st March 2024
| Fixed Assets: Current Assets: Stock Debtors Deferred expenses Cash at bank and in hand Total Current Assets Liabilities Creditors: Amounts falling due within one year Net Current Assets Total Assets less Current Liabilities The funds of the charity: Unrestricted Income Funds: General Fund Revaluation Reserve: TV Revaluation Reserve: TD Designated Major Repairs Fund Designated Development Fund Total Unrestricted Funds Restricted Income Funds: Restricted - TV Refit Other Restricted Funds Total Restricted Funds |
2023-24 Notes £ 570,678 8 310 43,515 850 242,542 12 287,217 (94,127) 9 193,089 763,767 20,706 10 176,000 10 317,177 10 29,000 10 195,838 10 738,721 24,000 10 1,046 10 25,046 10 763,767 |
2022-23 £ 571,402 310 14,749 1,364 232,669 |
|---|---|---|
| 249,092 (33,840) |
||
| 215,252 | ||
| 786,654 | ||
| 21,499 176,000 317,177 29,000 215,838 759,514 24,000 3,140 27,140 |
||
| 786,654 |
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These accounts are prepared in accordance with the special provisions of Part 15 of the Companies
Act relating to small charities and constitute the annual accounts required by the Companies Act
2006 and are for circulation to members of the company.
The notes at pages 21 to 29 form part of these accounts
Signed S Wibberley
Name STEVEN WIBBERLEY, Chair of Trustees on behalf of the Trustees
Approved by the Trustees on 1[st] November 2024
19
River Thames Boat Project Statement of Cash Flows
for the year ending 31st March 2024
| Cash flows from operating activities: Net cash provided by (used in) operating activities Cash flows from investing activities: Interest income Purchase of tangible fixed assets (net of specific income) Net cash provided by (used in) investing activities Cash flows from financing activities Repayment of borrowing Net cash provided by (used in) financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Total cash and cash equivalents at the end of the year |
2023-24 2022-23 Notes £ £ 4,681 (49,084) 11 4,468 2,476 724 - 8 5,192 2,476 0.00 0 0.00 0 9,873 (46,608) 232,669 279,276 12 242,542 232,669 12 |
|---|---|
20
Notes to the Financial Statements
for the year ending 31st March 2024
1. Accounting Policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
Basis of Preparation
The financial statements have been prepared on the basis of historic cost, except for the revaluation of the Dutch Barge, Thames Venturer, in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) and the Companies Act 2006.
Income
Income is recognised in the Statement of Financial Activities (SoFA) when:
-
the charity becomes entitled to the resources;
-
any performance conditions attached to the item(s) of income have been met;
-
it is probable that the resources will be received; and
-
the monetary value can be measured with sufficient reliability.
Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Grants where restrictions on use apply have been identified as restricted income on the SOFA together with the related expenditure.
For legacies, entitlement is taken as the earlier date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution.
Income with related expenditure
Where income has related expenditure (as with fundraising) the income and related expenditure
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are reported gross in the SoFA.
Tangible fixed assets
No valuation of Thames Venturer was undertaken in the Financial Year which ended 31st March 2024. Thames Discoverer completed in the year to 31st March 2018 is valued at cost.
Capital expenditure
Capital expenditure on the Thames Venturer is written off in the year of expenditure as the barge is re-valued on a periodic basis. Capital expenditure on Thames Discoverer is also written off in the year of expenditure. The boat will be revalued as appropriate.
Tax reclaims on donations and gifts
Incoming resources from tax reclaims are included in the SoFA when they are received, which may not be in the same financial year as the gift to which they relate.
Gifts in kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised.
Gifts in kind for use by the charity are included in the SoFA as incoming resources when receivable, with an equivalent amount in Expenditure in kind.
Donated services and facilities
These are only recognised in income (with an equivalent amount in expenditure) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations or grants which the donor has specified are to be solely used for particular areas of the charity's work.
22
Volunteer help
In accordance with the Charities SORP (FRS 102), the value of any voluntary help received is not included in the accounts but is described in the trustees’ general report.
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Pensions
Employees of the charity were automatically enrolled into the NEST pension scheme in January 2016,
(or when they joined the charity if it was after that date), which is funded by contributions from employee and employer, but are entitled to opt out after enrolment.
The employer's contributions made to the scheme in 2023/24 were £2,321 with an employer's contribution rate of 3% of pensionable pay and an employee's contribution of 5% of pensionable pay.
2. Legal Status of the Charity
The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
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3. Analysis of Income
| Donations and legacies Donations Friends Contributions Donations in kind Legacies HMRC Gift Aid Rebate Grants: The Hampton Fund Richmond Parish Lands Charity The Barnes Fund Hermitage River Projects The Prince of Wales Charitable Trust Total Donations and legacies Income from Charitable activities Fees and charges Total Income from Charitable Activities Income from other trading activities Fundraising Events Sale of Goods Total Income from charitable activities Income from Investments Bank Interest Receivable Total Income from Investments Total Income |
Unrestricted Funds £ 66,424 10,699 13,479 0 2,735 93,336 52,645 52,645 6,021 10 6,031 4,468 4,468 156,480 |
Restricted Funds £ 13,893 0 0 0 0 0 8,000 2,800 3,650 2,500 30,843 0 0 0 0 0 0 0 30,843 |
Total Funds 2023-24 £ 80,317 10,699 13,479 0 2,735 0 8,000 2,800 3,650 2,500 124,179 52,645 52,645 6,021 10 6,031 4,468 4,468 187,323 |
Total Funds 2022-23 £ 63,813 10,853 15,282 0 2,206 9,000 7,500 3,200 0 0 |
|---|---|---|---|---|
| 111,855 | ||||
| 34,245 | ||||
| 34,245 | ||||
| 5,394 88 |
||||
| 5,482 | ||||
| 2,476 | ||||
| 2,476 | ||||
| 154,057 |
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4. Analysis of expenditure
| Raising funds: Fundraising expenses Cost of Goods sold Total Expenditure on Raising funds Charitable activities: Staff Costs Office Rent & Running Costs Boat Repairs and Maintenance TV restricted repairs Boat Running Costs Equipment Insurance Bank charges & interest Professional Fees Administration of the company Office Move Expenditure in kind Total Expenditure on Charitable Activities Total Expenditure |
Unrestricted Funds £ (476) 0 (476) (124,109) (11,825) (17,861) (4,524) (164) (4,037) (50) (536) (214) 0 (163,319) (13,479) (176,798) (177,274) |
Restricted Funds £ (51) 0 (51) (27,706) (1,158) (1,904) 0 (440) (1,164) (430) (5) (57) (23) 0 (32,886) 0 (32,886) (32,937) |
Total Funds Notes 2023-24 £ (527) 0 (527) (151,814) 6 (12,983) (19,765) 0 (4,964) (1,328) (4,467) (55) (592) (237) 0 (196,204) (13,479) (209,683) (210,210) |
Total Funds 2022-23 £ (951) (213) |
|---|---|---|---|---|
| (1,164) | ||||
| (110,871) (9,773) (51,793) 0 (11,312) (558) (4,074) (77) (6,153) (190) 0 |
||||
| (194,801) (15,282) |
||||
| (210,083) | ||||
| (211,247) |
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5. Reconciliation of movement in reserves
The movement in unrestricted reserves from last year is a reduction of £20,793, being the unrestricted loss for the year.
The movement in restricted reserves from last year is £2,094. This is broken down as follows:
| Grant income (b/f from 22/23) spent Misc Income (b/f from 22/23) spent Grant income received in year unspent Total |
(2,750) (390) 1,046 |
|---|---|
| (2,094) |
6. Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel
| Salaries and wages Social security costs Pension costs |
2023-24 £ 135,212 7,721 2,321 145,255 |
2022-23 £ 103,294 4,273 2,214 |
|---|---|---|
| 109,781 |
The total of staff costs in note 4 differs from the total above as it includes staff training expenses and recruitment costs.
No employee had benefits in excess of £60,000 (2023: None).
The charity trustees were not paid and did not receive any other benefits from the charity during this year, neither were they reimbursed expenses during the year (2023: £0). No charity trustee received payment for professional or other services supplied to the charity (2023: £0).
The key management personnel of the charity comprise the Trustees, the Office Manager, the General Manager / Marketing and Fundraising Manager, the Environmental Education Manager, the Boat Manager and the Deputy Skipper/Maintenance Worker.
The Deputy Skipper / Maintenance Worker left the charity in November 2023.
The total employee benefits of the key management personnel of the charity were £0 (2023: £0).
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7. Staff Numbers
The average monthly head count was 4.67 (2023 4.17) and the average monthly number of full-time equivalent employees during the year was 3.12 (2023 2.46 FTE).
8. Fixed Assets
| Dutch Barge: Thames Venturer Thames Discoverer Dock Development |
2023-24 £ 176,000 393,557 1,121 570,678 |
2022-23 £ 176,000 393,557 1,845 |
|---|---|---|
| 571,402 |
9. Creditors: amounts falling due within one year
| Creditors Charge Card Deferred Income |
2023-24 £ 1,687 0 92,440 94,127 |
2022-23 £ 1,610 0 32,230 |
|---|---|---|
| 33,840 |
Deferred income represents payments received for services to be provided in the next financial year.
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10. Reserves
Unrestricted Income Funds
Unrestricted funds are available to spend on activities that further any of the purposes of the charity.
General Fund
The general fund is used to account for all financial resources that are not restricted to specific purposes or otherwise required to be accounted for in another fund.
Revaluation Reserve - TV
Starting in the financial year 2002, when Thames Venturer was re-valued, a Revaluation Reserve was created to record the increased asset value. Periodically the vessel is appraised for insurance purposes and the Revaluation Reserve is adjusted to reflect the changed figure.
Revaluation Reserve - TD
As at 31st March 2018 the new vessel Thames Discoverer was commissioned. The Revaluation Reserve details the restricted income, donations/match-funding, used to build the new boat.
Designated Major Repairs Fund
The Directors have authorised the setting aside of funds to meet major repairs, including emergency dry docking operations which are essential to the continuing operation of the charity’s boat(s).
Designated Development Fund
The Directors have authorised the setting aside of funds for development of the charity, including refitting Thames Venturer , developing new programmes / activities and developing additional charity facilities.
Restricted Income Funds
Restricted funds are donations which the donor or grantor has specified are to be solely used for particular areas of the charity's work.
Restricted - TV Refit Fund
The Restricted - TV Refit Fund is made up of donations specifically towards the refit of the Thames Venturer .
Other Restricted Funds
Other Restricted Funds are grants or donations towards particular areas of the charity's work excluding the Thames Venturer refit, which have not been spent during the financial year being reported on.
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11. Reconciliation of net movement in funds to net cash flow from operating activities
| Net movement in funds Add back depreciation charge Deduct interest income shown in investing activities Decrease (increase) in stock Decrease (increase) in debtors Increase (decrease) in creditors Increase (decrease) in deferred expenses Net cash provided by operating activities 12. Analysis of cash and cash equivalents Cash in hand Current account Notice deposits (more than 3 months) Overdraft facility repayable on demand Total cash and cash equivalents |
2023-24 £ (22,887) 0 (4,468) (0) (28,766) 60,287 514 4,681 2023-24 £ -34 117,575 125,000 0 242,542 |
2022-23 £ (57,190) 0 (2,476) 213 (4,767) 14,802 335 |
|---|---|---|
| (49,083) | ||
| 2022-23 £ 166 57,293 175,210 0 |
||
| 232,669 |
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Independent examiner’s report to the Trustees of the River Thames Boat Project
I report on the accounts of the River Thames Boat Project for the period ended 31[st] March 2024, which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow statement and the related notes 1 to 12.
Respective responsibilities of trustees and examiner
As the charity’s trustees you are responsible for the preparation of the accounts. You consider that an audit is not required for this year under Section 477 of the Companies Act 2006 and under Section 144 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to examine the accounts under section 145 of the 2011 Act, follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5) of the 2011 Act, and state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
-
which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with section 130 of the 2011 Act; and
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
-
have not been met; or
-
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
J. D. Blythe FCA
206 Upper Richmond Road West, London, SW14 8AH
22[nd] October 2024
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