LONDON CORINTHIAN TRUST
TRUSTEES. REPORT AND UNAUDrfED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

LONDON CORINTHIAN TRUST
TRUSTEES. REPORT AND UNAUDITED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
INDEX
Page
Trust reference and admlnlstratFve detall8
24
Trust888' report
Independent examlners. rnport
Statement of flnandal actlvltl88 Includlng
the Income and expendlture account
Balance Sheet
8-16
Notes to the accounts

LONDON CORINTHIAN TRUST
TRUSTEES, REPORT AND UNAUDITED AcCou￿rS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
TRUST REFERENCE AND ADMINISTRATIVE DETAILS
Charity Regi8tratlon Number 1084734
Company Registration Numb8r 04027792
Tru8te88 and company
officers
S M C AI8X8nder
appolnted 27 June 2018
resigned 8 July 2024
appolntsd 22 June 2022
resigned 8 July 2024
appolnted 25 June 2020
re8lgned 8 July 2024
appoint8d 3 August 2021
appolnted 23 June 2021
appointed 27 June 2018
appointed 27 Jun8 2022
r881gned 8 July 2024
appolntsd 25 November 2021
appolnted 17 Octobar 2023
appolntsd 21 Jun6 2023
reslgned 31 July 2024
appointed 21 June 2023
reslgned 8 July 2024
appoint8d 21 June 2023
appolnted 23 October 2023
P N Blackadder
J G De Lagarda
D Gollancz
P L Llncoln ITrea8urer)
M Mcconway
S Nunez De C8la
J Tan (Chair)
L Scrlne ( Company Secretsry)
S J F￿zpatrIck
E E S Rlccardl
C J Saynor
B Walnwrfght
Registered offlce and
principal 8ddre88
Llnden House
60 Upper Mall
London W6 9TA
Independent examlner
DMB Davles Ltd
Broyan House
Priory Street
Cardigan
SA43 18Z
Solicltors
Russell-cooke LLP
2 Putney Hlll
London
SW156AB
Bankers
Metro Bank PLC
137 Chiswick Hlgh Road
Chlswlck
London W4 2ED
P4e1

LONDON CORINTHIAN TRUST
TRUSTEES. REPORT (INCLUDING THE DIRECTORS REPORTI
The Trustees present their report and the unaudited acrx)unts of the Trust for the year ended 30 September
2024. The Truslees have adopted the provlslon5 of the Statement of Recommended Practice (SORP)
"Ac￿lunting and Reporting by Charities. (FRS 102) in preparing the annual report and accounls of the Trust.
The accounts have been prepargd In accordance wlth the accounting policAes set out in notes to tho
acwunts and ￿MplY with the Trust's governing docum8nt, the Charities Act 2011 and Accounting and
Reporting by Charities.. Statement of Rec£¢mmended Practice applicable to charlties préparing their accounts
in ac¢ordan¢e with Ihe Financial Reporting Standard applicable In the UK and Republic of Ireland published
n October 2019.
OBJECTIVES AND ACTIVITIES
The objectives of the London Corfnthlan Trust ('th8 Trusv) are, In summary, lo:.
l. provide water sports facilllies in Hammersmlth In th8 Int8r8sts of soclal welfare.,
11. preserve bulldlngs of heritage value in Hammersmlth for the benef￿ of the nallon at large., and
111. undertak8 any other cha￿table purpose.
The Trust owns Llnden House, a Grade11 Ilsled bulldlng of beauty and hlstorfcAI Int8r8st sltuated on the
rlverside in Hammersmith. It carrles out It8 purposes for the publlc benefit by m8lntalnlng and oper8ting
Llnden House as a w8*8r sports centre,
Th8 Trustees confirm that they have had regard to the gUIdar￿ on Publlc Beneflt publlshed by the Charfty
Commission in September 2013 when exerclslng any powers or undertaking any duties to whlch that
guldance is relevant,
ACHIEVEMENTS AND PERFORMANCE
The Trust provldes water sports facilities at an affordable eo81 to a salllng club and a rowlng club by means
of licen888. The yearly access charge for 2023r24 was set at the equlvalanl of £140 per member.
The London Corlnthlan Sailing Club was establlshed In 1894 and has around 500 members. Th8 Club
provides salling throughout the year, wlth dlnghy salllng on the Thames at Hammersmlth and Offs￿re salling
on the Solent and further afleld. The dlnghy programme Includ88 rac88 and cruises most weekends and mld-
we8k In the Summer. Dlnghy sallors also participate in trainlng and events away from the Thames, including
weekends on the South Coast. The Offshore programm8 covers cruislng. raclng and tralnSng. member8
P8rt1¢ipate In established rogattas and events including Cowes Week, Round th8 Island Race and the
Fastnel Race. The Club 81s0 has an èxiensive crulslng pr(h3ramme and runs several overseas trlps oach
year. The Club Ss a Royal Yachting As50clatlon (RYA) training centre and provldes an extenslve rarge of
RYA and non RYA tralnlng for dlnghle8. offs1￿)re 8nd powerboats.
Sons of the Thames Rowlng Club ('Sons'l is a registered Communlty Amateur Sports Club though find8 th8
£520 partldpatlon cost limit almost impossible to achieve after the inflallon of expenses that has been
experienced in recent y8ars. It offers affordab18 rowing to men and women of all ages, both competitivg and
recreational. It has around 60 members. It provldes club boats for all members to use and coaching for those
who wlsh to (x)mp8te. Crews fr8quenlly take part in local regattas on the tldal Thames and sometlmes futher
afield. The committee's focus In 2023124 was to improve the coachlng slruclure 8nd reinslale the learn to row
courses for beglnners. These objectives were both achleved and the benefit has been felt In tha current year.
Both Clubs also have an active soclal schedule with Llnden House providing a superb venue for club nights,
so(ial events and parties throughout the year.
London Corinthian Services Ltd. the Trust's trading subsidlary. operates a bar for the sports club members
and ralses funds for the Trust through provision of room hire and catering to external customers. Services
donated £58.485 in the year (£84,524 in 2023). Extemal booklngs of communlty benefit Included The R
Cross, RNLI & the Royal Yachting AssocAation. The trust rK)ntinued to ensure support to its members thrO￿h
the modemisallon of the Llnd8n House faclllty. Major projects induded mainlenance to the building exierior
and interior. refurbishment of Ihe18dies changlng rwms as well as efforts to $8cur8 8 long8r18as8 Period
over the boat storag8 area.

LONDON CORINTHIAN TRUST
TRUSTEES. REPORT (Contlnued)
PLANS FOR THE FUTURE
The Trust will continue to deliver on its objective8 by con8tantly looking for way8 to improve the facilities and
participation in water sports in Hammersmith and by eX￿ling a planned programme of maintenance to
Linden House to ensure It$ ¢ontlnulDg preservatlon.
The Trust wlll be refurbishlng the boat yard gates, continuing to improve fire securfty by removing redundant
gas pipes and maklng improvements to the commerclal kltchen and functlon rooms as well as continuing Its
programme of repairs and maint8nance.
The Trust continu88 to support London Corlnthlan Sepilc88 Ltd as th8y 8voIv8 In a changlng market.
FINANCIAL REVIEW
The Trustees consider the financlal r8sutts for the ye8r, vthlch are summad88d on p8ge 8. to be good glven
th8 chall8nging financial clrcum8tanc88 In year. Th8 Trust had taken advantagè of long t8mi IIx8d rats8 for
It utilitla8 and was not therefore exp08ed to Increa8e8 In costs over the la8t year.
Major malntenance projects Included the refurbS8hment of the ladles changlng room, extenslon of property
leases and kltchen equlpment. Detslls are Included in Note 11 to the financlal Ststements, Capital Spend
durfng the yearwas £31,129 {FY23 £43.220).
The Trust's general fund target, l.e. the unr88trfct8d and r8adlly rea118abl8 financial re8eN88, remain8
unchanged. Thls target18 the total of'.-
l. nlne months, operatlonal and govemance costs (excluding repair6 & maintenance and depreciation);
11, slx months, of cash 8XP8ndlture on repelrs, m81ntenence and addlUon8 to fixed assets aver8ged over a
five vear Deriod,. and
111 a slnklng fund (for large long￿ele replacement Items and Investrnent In new f8cllltle8) gThlng over
time to £30,000.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Trust is incorporated as a company limited by guarantee and is governed by Its memorandum and
artlde8 of association. The Ilability of Its members 18 limited to £1 each. The Trustses are the directors of
the charltable company.
The Trust has a wholly owned tradlng subsldlary, London Codnthlan SeNlces Ltd ('SeNlces'). Servlces
occupl88 part of th8 Trust's freehold property under licens6 and carriès out commèrcial activities includlng
the hire of rooms and provision of bar and c8terlng. It pays an anns lenoth occupattonal Ilcen88 fee to tha
Trust, and. in addition, gifts its net profits to the TNst. The Servlces BoaTrd comprises dlrectors nomlnated
by the Trusl and the clubs and, if considered appropriate. approved by the Trustoos. The Services Board is
responslble for dlrectlon and overslght of all aclivities of S8Nicas in compliance with relevant regulations.
The Services company employs 8 full-tim8 manager to manage ihe day to day operations of thg Trust end
its trading subsidiary, including the ￿¢rUitment and oversight of staff and contraGtors.
The Trust has established a group of volunteers to manage repairs and malntenance of Linden House. the
adjoining leasehold property and the boating facilit188. Th8y are r88ponslb18 for manag8m8nt of all property-
related work In compllance wtth relevant regulations.
Pag8 3

LONDON CORINTHIAN TRUST
TRUSTEES. REPORT (Contlnued>
The Trusts8S 8Stabli8h th8 Strategy through whlch th8 Trust achl8v8s lis charltab18 obJ8CtIv8s. They
approve the Trust's annual budget. review and approve key appointments and strategic decisions m8de by
the Services Board. and review and approve key decisions of the Facilities Committee. They bear ultimate
responsibility for the health arKI Safety of staff and visltor8 to Llnden Hou86. except In relation to the clubs,
sports activities.
The TN8t88s ar8 ultlmately r8sponslbl8 for th8 Id8ntlflcatlon of th8 major rlsks to whlch the charlty18
eXPO8ed, the assessment of those rlsks and the e8tsbli8hment of control procedure$ to mitlgate them. The
Facilities Committe6 provides expert assistance on the propety-related risks. The SeNices Board provldes
insight Into the commercial rfsks. The manager operates the malorfty of the control procedures. The
Trusi888 r8Vi8w th8 major rfsks and controls at18ast y8arfy. Th8y conslder health and safety Incld8nts arKI
nevAy identified h8zards (rf any) at e8¢h regular meeting. They arrange Insurance cover for the Tnjst and
Services, includiro buildings all risks, employer Ilablllty and publlc Ilablllty.
APPOINTMENT OF TRUSTEES
N8w Truste88 are usually recrult8d from the member8hlp of the charfty by &mall advertls8ment or word of
mouth. At18a8t three but no mor8 than fv481v8 of th8 Tw8t888 must be elected at 8n annual g8n8ral
meetlThJ; up to flve more may bg CO￿pted. Tru8tee8 mu8t retlre after three years but they remaln ellglble
for rewelectS¢)n.
The Tru8te88 who 88r¥ed during the accountlng pertod and to the date of th18 report are 8hown on page 1.
The followlng Tru8te8 currently 88rve8 88 a dlrector on the Serwlces Board.
C J Saynor
The charttsble company has taken advantage of the 8mall companl88' exemptlon In preparfng the report
above.
The Tru8iee8 declare that they have approved the Trustees, report (Including dlrector8' report) above.
Signed on behalf of the charlvs Trustees
JTan
Trustee
Page 4

LONDON CORINTHIAN TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LONDON CORINTHIAN
TRUST ON THE UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
I report to th8 charity trustees on my examination of th@ accounts of the company for the year ended 30
September 2024 which are set out on page6 6 to 16.
Responslbllltles and ba818 of report
As the charfty trustees of the ¢omp8ny (and also Its directors for th8 purpo888 of company law) you are
responslble for the prepar8tlon of the accounts In accordance vAth the requlrements of the Compan188
Act 2006 ('the 2006 Act,).
Having satisfied myself that the accounts of th8 company a￿ not requlred to b8 auditsd under Part 16
of the 2006 Act and are ellglble for independent examination. l ￿port In respect of my 8xamlnation of
your company's accounts as carfed out under section 145 of the Charftles Act 2011 {'the 2011 Act,). In
carrylng out my 8xamination I have followed the Dlrectlons glven by the Charfty Commisslon under
Sectlon 145(SXb> of the 2011 Act.
Indopondont 8xamlnar'8 stat•m•nt
I have ¢ompletsd my 8xamlnatlon. I confimi that no matters have com8 to my attentlon in conn8Ctlon
with the examlnation glvlng me cause to believe that In any material respect..
accountlng record8 were not kapt In respect of the company as requlred by section 386 of the
2006 Act: or
2. the accounts do not accord with th088 records; or
the accounts do not comply with the accountlng requlrements of 8ectlon 396 of the 21x16 Act other
than any requirement that the accounts gEve a 'true and falr VI8￿ whlch Is not a matter consldered
as part of an independent examinatlon; or
th8 account8 have not been prepared In accordanc8 wlth the method8 and principles of the
Statemgnt of Recornmended Practic8 for accountlng and reporting by charllle8 applicable to
charities preparlng their account8 in ac¢ordan¢e wlth the Flnanclal Reportlng Standard appllcable
In the UK and Republlc of Ir8land (FRS 102).
I have no Concems and have come across no other matters in Connectlon with the examlnatlon to
which attantion should be drawn In th18 report In order to enable a proper understanding of th8 accounts
to be reached.
DMB Davies Limlted
Broyan House,
Prlory Stre
Cardigan SA43 1 BZ
Date:
Page 5

LONDON CORINTHIAN TRUST
STATEMENT OF FINANCIAL ACTIVITIES
(INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Unrestrfcted Restrlcted
funds
fund8
Total funds Total fund8
2024
2023
In¢om•:
t)onatlons, grants and legacle8
Incoma from ch8n't8ble 8Ctivitles
Op8ratlon of club f8cIIIti88- capltatlon f888
Income fmm other tradlng 8CtMtle8
Tradlng 8ub8ldlary operations
Investments
25,000
58,746
58.746
87.285
87.285
113.324
15.828
15,828
8,502
T¢)tal Income
161.859
161,859
201,270
Expondlturn:
Grant8
3,147
3,147
20,000
Expenditure on charltable 8ctlvltl88
OperatSon of club facllltle8
119,488
19,622
139,090
120.519
Total ￿pendIturn
122,615
19,622
142,237
140,519
N•t In¢omo1(•xpgndlture)
39,244
119,6221
19.622
60.751
RoMnGlllatlon of fund8:
Total funds brought forward
346.355
224.080
570.415
509.664
Total fund8 carrlod forward
385,599
204.438
590.037
570.415
All Income and expenditure derive from contlnuing activÉiies.
The ststement of financlal actlvities Includes all gains and108888 reGcgni8ed during the year.
Page 6

LONDON CORINTHIAN TRUST
BALANCE SHEEf AS AT 30 SEPTEMBER 2024
Notes
2024
2023
Flxed assets
Tangible assets
Inve8tment
11
12
403,715
409.184
403,716
409,185
Currnnl as•gts
Debtors
Cash at bank
13
5.788
217,239
36.007
154,877
223,027
1￿),884
Credltor8: amounts falllng due
wlthln one ￿ar
14
36.707
29,654
Not ¢urr•nt as•ots
186,321
161.230
Not a880ts
s￿.037
570.415
Charfty funds
Unrostrlcted funds
Rostrlcted funds
15
15
385,599
204,438
346,356
224,060
Total charlty fund$
16
590,037
570,415
For the year endlng 30 September 2024 the company was entltled to exemptlon
from audlt urKler 8ectlon 477 of the Companies Act 2006 relating to small
(x>mr)AniflR.
Trustees, ra8pon81blllU88:
Tho m8mbers have not requlred the company to obtaln an audlt of It8
accounts for the vear in Question in accordance with section 476;
The TN8teeB acknowledge their responsibilities for complying wilh the
requlrements of the Act wlth respect to accountlng records and th8 preparation
nf He￿.aunts.
These accounts hav8 b8en prepared in accordance ￿ the provlslon8 appllcabl8
to companies Subject lo the small companies ￿gIm0.
Approved by the board of Trustees and slgned on their behalf by:
JTAN
TRUSTEE
The notes on pag88 8 to 16 form part of th888 accounts.
Company registration number. 04027792
Page 7

LONDON CORINTHIAN TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
1. Summary of slgniflcant accountlng pollclas
al G•noral Informatlon and bas18 of preparatlon
London Corfnthlan Trnst {Ihe Trust,) Is Incorporated as a private company Ilmlted by guarantee in
England and Walés and is govemed by its memorandum and artlcles of assoclatlon. In the event
of the Trust being wound up, the liabilty in respect of the guarantee is limited to £1 per member of
the Trust. The address of the registered offic8 is given in th8 Trust infonnation on page 1. Th8
n8tur8 of the Trust's operatlons and pTlnclpal actlvities ar8 glv8n on page 2 of the Tru8ts88' report.
The Trust con5tltutes a public benefft entty as defined by FRS 102. The accounts have been
prepared In accordance with Accountlng and Reporting by Charities: Statement of Recommended
Practice appllcable to charities preparing their accounts in accordance Wth th8 Flnanclal
Reportlng Standard appllcable In the UK and Republlc of Ir81and (FRS 102)18Bued In October
2019, the Flnan¢lal Reporting Stsndard appllcable In the Unlted Klngdom and Republic of Ireland
(FRS 102). the Charities Act 2011, th8 Companl8s Act 2006 and UK Generallv Accepted Practlce.
The a¢tlvlti88 of the subsidlary company have not been been consolldated as the Trust has tsken
advantsge of th8 exemptions avallab18 to it under the Companies Act and under the Charltles
SORP (FRS 102) as a Small group.
The Trust accounts do not Include a cash fiow statement on the grounds that it is a small charlty.
The 8¢count8 are prepared on a golrKJ Concern bas[6 under the hlstortcal cost convention. The
accounts ar8 prepared In 8t8rtlng whlch18 the functlonal currency of the Trust and rounded to the
near88t pound,
The 8ignlflcant acoountlng pollGles applled in tho pr8P8r8tlon of th88e accounts are sat out below.
The88 pollcles have been con8iStentlv appll8d to all year8 pr88ented unle88 0thorwi88 8tatod.
bl Incom•
Income from donations and grants18 re¢ogn18ed when the Trust18 entltled to the fvnds, the recelpt
18 probable and the amount can be measured rellably. For donations, th1818 usually on re¢aSpL For
grants. thls Is usually when a fonnal offer is made In wrlting, unl8ss the grant contalns tenn8 and
condltions outslde of the Tru8t'8 control vthlch must be met before the Trust IB entltled to the funds.
For legacies, entitlement18 tsken 88 the earller of tt18 d8t8 on whlch 8lth8r: the charbty 58 aware
that probate has been granted. the 88tate h88 b66n finallsed and notlficatlon has been made by
th8 executorf6) to the Trust that a dlstrfbutlon ￿11 be made, or whan a dlstribution is received from
the e8tste. Recelpt of alegacy, In whol8 or in part, Is only considered probab18 when th8 amount
can be mea8ur8d rellably and the chadty h88 been notlfled of the executorfs Intention to make a
dlstslbutlon,
Income from charftable actlvltl8s18 made up of capltatlon fees rKelvable from the clubs whlch
occupy the Trusvs freehold propety under licance. Incom818 r8cognl8ed when receivable.
In¢i)me from other trading actlvltle8 are made up of income from the sub8idlary company to
generate funds for th8 charltab18 objects. O¢cupational licence fees are r8cognlsed when
receivable and donations from the subsldlary company are r8cogni8d wh8n thay ar8 received.
Income from investrnents is made up of rental Income and bank interest, Bank Interest Is
r8cognised when receivable and rental Income Is re¢ognised over the period to which it relate8.
No amount is included In th8 accounts for volunteer tlme in line with the SORP (FRS 102). Further
detall Is given in th8 Trust888' raport.
c) Expendlturo
All expenditure is accounted for on an accruals basis and has been classlfted under heedlngs that
aggregale all costs relat6d to the category. Expondlture is recognised where therè is a legal or
constructive obligation to make payments to third parties, it is probabl8 that the Settlement wlll bo
required and the amount of the obligation can be mgasured reliably.
Any attributable Irrecoverable VAT is charged as an expens8 and where Idendfabl8 against the
activlty for which exponditure arose.
Grants payable are recognised when the grant has been fonnally approved by the Trustees and
¢onfimied to the grantee.
Page 8

LONDON CORINTHIAN TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 (Contlnued)
1. Summary of slgnlflcant accountlng pollclès (continuod)
d) Fund accountlng
Unrestricted funds are avallable for use 8t the discretion of the Trustees in furth8ranc8 of th8
general obiectlves of the Trust and vthich have not been designated for other purposes.
Funds held by the company ar8 8ither unrestricted general or designated funds, vthich Can b8
U88d in 8¢¢0rdanc8 wilh the charitable obiects at the di8cretlon of the trustees.
Deslgnated funds comprf8e unrestricted funds that have been set aside by the Trust888 for
partlcular purposes. The alrn and u68 of each deslgnated fund Is set out In the notss to the
a¢¢ounts.
Restrlcted funds can only b8 used for partlcular restrfcted purposes ￿h1n th8 obl8cts of th8 Tru8t.
Re8trf¢tlons arfse when Sp￿lfied by the donor or grantee or when funds are r8ised for particular
r88tricte(I purposes. The alm and use of each restrfct8d fund18 Set out In the notes to the
8ccounts.
Further d8tall8 of 8ach fund ar8 d18cIo88d In not8 15.
el Tanglble fixed as8•ts and d•pMclallon
Tanglble fixed ass&ts ara Stated 8t co8t1888 accumulatsd deprecl8tion and accumulated
impalrment1088e8. C08t includes c08ts dlrectly attrlbutable to maklng the asset capable of
OP8ratlng 88 Intended and where appllcable any attribuiable Srrecoverabl8 VAT.
All assets c08tlng more than £1,000 are cap1ts118ed and valued at h18todc cost.
Depreci8tion is provlded on all tsnglble fixed a88ets. at rat88 calcul8t8d to writ8 off th8 c08t,1888
estlmated residual value, of each a8set on a 8yStematlc ba818 OV8r its expected u8eful IEfe a8
follows:
Freehold bulldlng8
Freehold building improvements
Fixiures and ftttlngs
fj Inve8lmont
Investm8nt In the sub81dlary Is measured at cost le88 impaiment.
g) Debtorn
Pr8P8yrnents are valued 8t th8 amount prepald net of any trade d18¢0unts.
h) C88h at bank
Cash at bank includes ¢8sh held in current accounts and Instant aCC988 depostt accounts.
l) Credltor8
Creditors are recognlsed wh&n a pr8sent legal or con8tructlv8 obllgatlon exists at the balance
sheet date as a result of a past evenl. It is probable that a transfer of economlc b8nefiis will be
r8quir8d to S8tt18 th8 obigation and can be estimated rellably.
2Vh straight Ilne basls
50kn stralght Ilne ba618
50h. 10 %. 20% or 25 /0 stralght Ilne bas18
All creditors are Inltlelly recognlsed at a transactlon price. Accrua18 ar8 subseqently measured at
the setUem6nt amount.
J> Tax
The Trust is an axempt charity within the meaning of schedule 3 of the Charities Act 2011 and Is
considered lo pass the tests set out In Paragraph 1 Schedule 6 Flnance Act 2010 and, th8r8fore it
meets the definition of a charitable company for UK corporation tax purposes.
k) Going concern
The accounts have been prepared on a going concem basis as the truste88 belleve that no
material uncertainties exist. The Trustees hav8 considered the level of fvnds held and the
expected level of Income and expendlture for 12 months from authorising these accounts. The
budgeted income and 8XP8nditure 1$ sufficient with the level of reserves for thg charfty to be able to
continue as a going ¢onorn.
Page 9

LONDON CORINTHIAN TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 {Contlnued)
1. Summary of slgnlll￿nt accountlng pollcles (conllnued)
l) Flnanclal Instruments
The Trust only has financial instruments assets and liabillties of a klnd that whlch qualify as basic financlal
instruments. Basic financial instwments are initially recognised at transaction value and subsequently
measured at their settlement Value.
rn) Penslon8
The Trust operates a defined contributlon plan for the benefit of its employees. Contrlbutlons are expensed
as they become payable.
Unre8trlcted Ro8trlctod Total fund8 Total funds
funds
fund8
2024
2023
2. Income from donatlon81 grants and l•ga¢l••
Donallons
Legacles
25,000
25,000
The donatlon8 received durtng the year are detslled In Restrlcted funds note 15. In 2023 Income from
donatlon8 wa8 from the Madon SGrlne Memorfal Fund.
3. Income from othor tradlng actlvltl•4
Tradino sub81dlary operatlon8
Glfted from the trading 8ub8idiary (note 12)
Occupational Ilcence fee8 recelvable from the
dlna subsidiarv Inota 121
58,485
58,485
84,524
28.800
28,800
28,800
87,285
87,285
113,324
4. Incomo from In￿StM•nt8
Rental Income
12,000
3,828
12,000
3.828
5,850
2,652
Bank deposlt Interest recelvable
15,828
15,828
8.502
Rental income derives from the rental of the managerfB flat in Llnden House used by a London Corfnthlan
Trust employee under a licence agreement be￿een London Corlnth18n Trust and London Corinthian
S8rvice$ Ltd.
5. Grants
Marlon Scrfne Memorial Fund
London Corlnthlan Salllng Club
20,000
3,147
3,147
3,147
3.147
20.000
Page 10

LONDON CORINTHIAN TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 (Continu4d)
Unr•8trlct•d RostriGled Total funds Total funds
funds
funds
2024
2023
6. Expendituro on oporation of club facilitle•
Prernlses oxpandlturo
Rates and water
Buildings and maritime Insurance
Heat and light
Repair8 and malntenance
Waste disposal
Pontoon fee$
a88ning. in¢ludlng wages costs £2477.50 {202& £796.50)
Depreclauon - premlses
5,228
9,440
20,846
33.779
2.772
6,445
3,679
8,030
5,226
9.440
20,846
33,779
2,772
6.288
8.674
17,865
26.534
2.380
5.492
2.057
14.901
3.679
15.717
7,687
90,218
7,687
97.905
84,191
Admlnl8trntlon •xp&ndfturo
S818ry C08ts
Légal and profe66ional fee8
Consultancy
Gener81 expan888
Independent examIne￿8 r8muneralh)n
P•fgon81 DonallonB Eliglble for Gfft
Depreclatlon - flxtur88, flttlng8 and equlpment
2,228
2,228
1.500
4.596
2.750
1,500
4,596
2,750
9.229
20.881
4.231
2,750
9.229
2.706
18,175
21,898
29,249
11,935
41.184
36,328
Total costs
119,488
19,622
139,090
120.519
In 2024 eypendlture on ￿sts of op8r8tlon of dub factiit188 w8$ £139,090 ￿1¢h £119,488. was from unrestrictsd
furKl$ and £19,622 from rethd8d fund8.
7. N•t oxp•ndlturn for tho ygar
The net eypendlture for the year is stsled after charglng:
Independent examlnerf8 remuneration
Depreciation
2,750
26,205
2,750
36,598
2,750
36,799
10,393
8. Ind•pond•nt •xamlnorf8 rnmun•rntlon
The independent examlners ￿Mu￿Bration amounts to an independent examlnatlon fee of £1,150 12023- £1150)
and 8ccountan¢y Servlces of £1,600 {2023- £1,600).
Page 11

LONDON CORINTHIAN TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 (Conllnued)
Unrestrlcted Restrfcted Total funds Total funds
fund
funds
2024
2023
g. Staff costs
Wages and salarles
Sodal security ¢o$ts
Defin￿ conlributlon pensk)n c08ts
7,588
545
113
11
15
11
15
4.706
4.706
8,246
The average number ofemployees Involv8J In management aNI administration were part time
employees12023- same). There are 8180 P8rt-tlme cleanlng 8t8ff. An estimate of equlvalent full tlma
employees is one12023- same). No employees had emoluments In exGess of£60.000 {2023- same).
10. Trusteo•' expenses and remunorntlon
Th8 Iru8tees all gave frealy Ihelr tlme and exp8tho ￿￿thOut any form of remunwalton, other benefft In cash
or klrKI or exp￿￿86 durlng tha year12023- same).
11. T•nolbl• fix•d ass•t•
Fr•ehold
land and
bulldlngs
Flxtur••
and
flttlng•
Totsl
At 30 September 2023
Addltlons
498,943
24,948
523,891
318.720
6.181
817,663
31,129
At 30 September 2024
324.W1
848.792
Depreclalkin
At 30 Septemb8r 2023
Charge for year
199,583
15.717
208,896
20,881
408,479
36,598
At 30 Septembor 2024
215.300
229,777
44S,077
Net book value
At 30 Seplembar 2024
308,591
95.124
403.715
Nei book value
At 30 September 2023
299.380
109,824
409,184
C8pltal pro￿¢1$ laddluons) durlng the year InclthJ8d the refurblshmant ol thè ladles charrfJlng room
(£20,906), extenslon of the lea88 of the boat storage are81£4.0421. heotéd gsnty1£1,8981 & new freezer
1£4,4831.
2024
2023
12. Invo8tm•nt
Investment In sub8ldlary ￿MpanY 8t cost
The sub81dlary company, London Corinthlan ServlGes Llmlted18 reglstered in
ErvJland and Wales. company number 04306827, aTrd Is reswnslble for Ih
commerclal 8Ctfvlle8 Involved in the operation of LirKlen House. IncI￿lIng
runnlng a bar and provldlng catering. The Trust holds one ordlnary shares of
£1 In thls subsldlary, belng 100Vo of the issued Share capital of thal ￿rnpanY.
A 8ummary of the tradlng results Is shown below.
Turnover
Less:
Cost of sales, admlnlstratlva expen888, grants and inlerast retèlv8bl6
Occup8tlonal Ilcence fees paid to the Trust
403.510
317,632
316224
28.800
Net profit
OpgnlrvJ relaln&J eamings
GWI aid paymnt to the Trusl
Retslwj profit In the subsidiary
38,472
65,047
158,485)
45.034
58,486
91.085
{84.524)
65,047
Pago 12

LONDON CORINTHIAN TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 (Continued)
2024
2023
12. Invo8tment (contlnued)
All the profits for the current year wrll be paid up to the Trust under the Gift Aid
scheme bv 30 June 2025.
Th8 assets and Ilabllities of the sub8idlary were:
Current assets
Prepayments and accrued income
Credltors.. amounts f811ing due within one y8ar
Creditors.. amounts falling after mor8 than on8 year
107,180
143.582
{50,728)
<11,418)
(59.740)
{18,795)
45,034
65.047
Share capttal and reserves
Share capitsl
Profit and108s account
45,033
65,046
45.034
65,047
13. Debtors
Amounts owed by subsidiary company
other debtors
Prepayments and accrued Income
10,590
20.562
4.855
36,007
5.788
5,788
14. Crodttor•: amount8 falllng du• wlthln one ￿ar
Other creditor8
Othertsx and soclal Securfty
Amounts owed to Subsidiary company
Accruals
5,416
18,363
8,605
4,323
6,562
19,278
3,814
38.707
29.654
15. Fund roconclllallon
Unrestrfctod fund8
Balance
blfwd
Bolanc•
clfwd
Income
Exp•ndltur• Tran•fers
General fund
Deslgnated tanglble fixed 8888t8 fund
150,068
196,287
161.859
(122,615)
(4,924)
4,924
184,388
201.211
346,355
161,859
(122,615)
385,599
Prevlous yoar
General fund
Deslgnated tangible fixed assets fijnd
100,738
179,041
176,270
(109,694) {17,246)
17,246
150,068
196,287
279.779
176.270
(109,694)
346.355
The Trustees have set aside a designated fijnd which represents a88ets tied up in tsngib18 f￿8d ass8ts
other than those tangible fixed assets alrea(ty included in restricted funds. These fijnds being tied up in
essentlal flxed assets are not therefore avallable as free reserves. The transfer repre8ents a movement of
£4.924 (2023 £17,246) from the general fund to the designated tsngible fixed assets fund.
Page 13

LONDON CORINTHIAN TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 (Continued)
15. Fund reconclllatlon {¢onllnuad)
The target lev81 frjr the general fund at 30 Soptembgr 2024 In accordance with the reserves pollcy. as stated
in the Twstees, report. was £99,000 calculatsj as follow5:
2024
2023
Elemgnt
Annua118ad eosts
TorAet
Op8rations and 8dmini8trallon
£58,215 (2023- £57.1861
9 months
52.IX)O
43,000
D.a. - see rK)te 6.
Repairs arnl malnt8nane8
£71,006 (2023- £67,235)
average p.a. over five
year8.
6 months
39,000
33.000
Sinklng fund
£30.000
99.000
84.(KJO
Re•trlcled fund•
Balance
Balanc•
Incim•
Expondlturn
Bulldlng 8PP8al fund
Sport ErwJlaThJ Lottery bulldlng fund
Sport ErKJland Lottery F4)ntoon fund
Roiln John80n l&Jacy fund
Salllng fund
Bruce Maclachlan rowlng equlrynant fund
Marion Scr1￿ Memorlal Fund
Fell¢lty Dunn memorlal fund
61,305
125,176
26,418
587
1.347
3,750
5,000
479
(2.576)
(5.1111
{2,7061
58,729
120,065
23,710
587
1.347
(3,750)
(5.000)
1479)
{19,622)
224,060
204,438
Prevlou• yoar
Bulldlng appeal fund
Swrt England Lottery bulldlng fvThJ
Swrt England Lottery ponloon fund
Robln Johnson le9a¢y fund
SalllTrJ furKI
Bruc8 Maclachlan rowlro equipment f￿d
Marion Scrinè Memorial Fund
Fellclty Dunn meffKirial fund
63,881
130.719
29,122
587
1.347
3,750
12,5761
{5,543)
{2.706)
61,305
125,176
26,416
587
1,347
3.750
5,(KJO
479
25.ociI
{20,000)
229.885
25,000
{30,825)
224,060
The Sport Eng18nd Lottery bulldlng fund represents lottery funds rècelved to purchase and re￿￿1$h the
freehold DfoDertv at Linden How, UDDer Mall. London W6.
The Swrt England Lottery Fontoon fund represents lottay funds recelved to furMI the construcllon of a third
p￿n on the waterfront at Linden House.
The Robln Johnson legacy fund represents a bequest received for $alllno purposes.
The Salllro fund represents don8tions re￿1Ve￿ S￿¢IfICallY for salllng wrp0s6S.
The Bruce Madachlan rowing equipment fund and Ihe Marion Scrfne Memorial FurKI represerrts donatlons
recelved specifically for rowing equipment purposes.
Th8 Felicity Dunn memorial fund represents a donation received swifically for kitch￿ g]uitwnent purposes.
Page 14

LONDON CORINTHIAN TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 (Continued)
16. Analy818 of net assets between funds
Goneral Designatsd Rastrictèd
funds
funds
fundg
Total funds
Tanglble fw assets
Investments
D8btors
Cash at bank
Creditors
201211
202.504
403.715
5.788
215.305
(36.707)
5.788
217,239
(36,707)
1.934
184.388
201.211
204.438
590.037
Provlou• yg•r
Tangible fixed assets
Investments
Debtors
Cash at bank
Credrtors
196,287
212.897
409.184
28,778
152,943
(29,654)
9,229
1,934
38.007
154.877
{29,654)
150.068
196,287
224,080
570,415
17. R•lat•d party tranucllons
The Trust has a elose relallonship wlth the London Corfnlhlan Salling Club and the Sons of the Thames
Rowing Club. Both clubs occupy the Trusl's free￿Id property under IlcenGe.
The Tru81 has a subsldlary company London Cortnthlan Servlc88 Llmited as detailed in note 12.
The followlng tran8adlons took place durlng the year..
2024
2023
London Corlnthlan 8alllng Club
Capltstlon f￿8 recalvable from the club by the Trust
Grant pald by the Trust to the club
50,378
3.147
46.688
Sons ofth• Tham• Rowlng Club
Capltatlon fees recetvable from the club by the Trust
Granl pald by the charlty to the club
8.368
8.750
7,756
20,000
LorKlon Corfnthlan 8orvlce8 Llmltod
Licence fees payable to tha Trust
Donation paid by the subsidiary to the Trust
Net recharges made by Ihe subsidiary on behalf of the Trust
28,800
58,485
16,954
28,800
84.524
26,145
Atthe yoarand tho balan¢o8 wor¢:
London Corlnthlan Services Limited {induded in debtors)
London Corinthian SeThlces Limited (included in craditors)
10,590
8,605
The licence fees due from thè subsidiary company are payable on dem8nd and Interest Is charged at 4%
above base on all outstsrxling amounts until pald. Donations due from the subsidiary company are paid withln
nlne monlhs of the year end. Capitation fees due from the clubs are due on nonnal (x)mmerdal temis. A
commercial IT consultancy contract exlsts belweon trustee Mr Mark McConwaY5 Comp8ny and London
Corinthian Servlces Limited. th8 value of this contract for 2024 was £2529.
Page15

LONDON CORINTHIAN TRUST
NOTES TO THE AccouKfs FOR THE YEAR ENDED 30 SEPTEMBER 2024 (Contlnued)
18. Control
The charitsble company is under the control of lis dlrectors and TnBtees.
19. Capital commitments
The Trust had no contracts for capltal expendlture not provlded forthe year er#J {2023 - Same).
20. P•n81on8
Th8 Trust oparates a defined Contrlbuilon penslon plan f¢x Its empk)yees. The amount recognlsed as an
exp8ns8 In th8 year w88 £15 (2023- £113). The defined Contributlon Ilablllty18 allocated to unrestrlcted
funds.
Page 16