OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-09-30-accounts

PETERBOROUGH CITY ROWING CLUB ANNUAL REPORT & ACCOUNTS FOR THE YEAR ENDED 30th SEPTEMBER 2022

Registered Charity No. 1095872

Peterborough City Rowing Club

Registered Charity No. 1095872

Principal Address: Peterborough City Rowing Club Thorpe Meadows Peterborough PE3 6LN Objects: 1. The promotion of community participation in healthy recreation for thebenefit of the inhabitants of the Greater Peterborough area (comprising the City of Peterborough and the counties of Cambridgeshire, Lincolnshire, Northamptonshire and Norfolk) by the provision of facilities for rowing and sculling. 2. The advancement of the physical education and development of young people not undergoing formal education. Bankers: Barclays Bank PLC 1 Church Street Peterborough PE1 1EZ Independent Examiner: Mrs Kerry Bedford KB Accountancy Limited 10 Maltby Drive Baston Lincolnshire Accountants and Mrs Kerry Bedford Tax Advisers: KB Accountancy Limited 10 Maltby Drive Baston Lincolnshire Holding Trustees of Property John Canton on behalf of the Charity: Steve Casey Hugo Spiegl

Peterborough City Rowing Club

Year ended 30th September 2022

The following served as Trustees during the year:

John Canton Chairman
Steve Casey
Hugo Spiegl Treasurer
Nick Hubble
Ann Casey Secretary

Peterborough City Rowing Club

Annual Report and Statement of Accounts for the Year Ended 30th September 2022

Contents

Independent Examiners Report 2
Annual Report 3
Income & Expenditure Account 7
Balance Sheet 8
Notes to the Accounts 9
Cash Flow Statement 11

Peterborough City Rowing Club

A registered Charity No 1095872

Independent Examiner’s Report to the Trustees

I report on the accounts of the Trust for the year ended 30 September 2022, which are set out on the following pages.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is needed.

It is my responsibility to:

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 have not been met in the following areas:

Kerry Hall FCCA Fellow of the Association of Chartered Certified Accountants The Poplars, 32 Main Street, Haconby, Bourne, PE10 0UU

08 November 2022

2

Peterborough City Rowing Club

A registered Charity No 1095872

Annual Report for the Year Ended 30[th] September 2022

ACCOUNTS

We are pleased to present this annual report and the accounts for the year ended 30[th] September 2022.

The last 12 months has been a period of gradual and progressive return to complete normality for the club and its members after the Covid pandemic. Outdoor activity had been more or less normal for a time but indoor training and social activity had to continue to be carried in a controlled manner in the first part of the winter with Covid infections still relatively high. When all national restrictions were lifted in the spring the club was able to host training camps and run regattas, without restrictions, once again. Social events have also returned during the second half of the year. This return to normal has allowed the club to increase its income.

Membership numbers ended the year at 264 which is an increase on the previous year reflecting the efforts made by club coaches to bring new people into the sport. This number is not quite back to the level pre-Covid but shows progress towards the ambition of reaching 300 members. It is notable that for the first time in the history of the club female members outnumbered males and this follows a clear trend over the last 7 or 8 years of increasing numbers of women wanting to take up the sport. This number includes 76 under the age of 18. Learn to row courses have again been run through the summer months with a good level of interest from the general public.

This year the club was able to organise its usual winter Head of the River Race and 3 regattas in a normal manner. These are run by Peterborough City Rowing Club Ltd which then donates all surplus funds to the charity. However, the Head of the River Race had to be cancelled at the last minute due to the malfunction of an Environment Agency sluice causing the river to be drained of water. This was a major blow and is the subject of an ongoing claim against the Environment Agency. The club suffered a further blow when it had to cancel its Regatta in August when weed could not be cleared from the rowing lake sufficiently well to allow fair racing. The summer drought and heat wave resulted in the rowing lake being well below its usual minimum level exacerbating the problem of strong weed growth. The club was able to run its annual regatta in June and the dedicated Junior Regatta successfully. Racing success has been very good considering that a number of events were cancelled during the season for various reasons. The club was able to resume boat purchases with funds raised in the previous year.

Income has held up well and the enforced cancellation of two events was counter-balanced by the return to hosting training camps. Overheads have remained steady with only a modest increase after due allowance is made for the building works undertaken in 2021.

The club continues to retain the bequest and donations in memory of Rolls Pollard and this totals £102,850. This sum remains ring-fenced by the Trustees together with other funds raised for the building extension project which has been delayed by the Covid 19 pandemic but which is still a firm ambition.

The overall result this year has been a surplus of some £40,106 after depreciation. This represents a decrease in the surplus from the previous year.

3

The regattas organised by our associated trading company, Peterborough City Rowing Club Limited, were able to be run but the enforced cancellation of the winter Head and the regatta in August badly affected income. The club was able to once again hire out its facilities to other clubs for training camps. The company made a profit of £29,990 most of which will be available to transfer to the charity during the new financial year.

MEMBERSHIP STATISTICS

SHIP STATISTICS
Membership Type Male Female
Full Rowing 78 82
Junior 34 42
Students 0 6
Non Rowing/Coaches/Cox 14 7
Rowability 0 1
126 138
Total
 264

POLICY ON RESERVES

RACING ACTIVITY

For the first time in 3 years there was a full calendar of racing offered throughout the year although some events were cancelled for various reasons. Club members raced at over 70 events with considerable success. They won 116 events and in addition there were some other very notable performances. Some of the highlights were as follows:-

4

Beginner’s courses for adults and juniors were run from spring onwards enabling recruitment of new members which is important for the future. Volunteer coaches again were crucial to the running of these courses. Demand from the public for courses has continued to be. This is only possible because the club has a good number of volunteer coaches. The club encourages its volunteers to achieve British Rowing qualifications at coaching and most coaches are qualified. The club has a substantial number of retired members who make a valuable contribution to the running of the club by offering their time to do essential maintenance.

ROWABILITY - ROWING FOR THE DISABLED

The club has continued to offer rowing for people with disabilities and has been able to improve its specialist equipment thanks to the inspiration of Kate Lindgren, a blind rower. She sets herself the challenge of rowing for 12 hours to raise money for new equipment and inspired some 50 able-bodied members to join her in the challenge. Over £4,000 was raised and a special equipped stable boat has been purchased. The clubs ambition is to recruit more members with disability.

JUNIOR ROWING

The junior section continues to be very strong and has been well organised again by an excellent team of dedicated volunteer coaches. These coaches work closely with the coach in charge of the British Rowing World Class Start programme which continues to use the club as its base for this area. Our junior members have been racing regularly throughout the year to achieve some 54 wins. In addition there were a number of strong performances in major events. A number of younger juniors raced for the first time this season and gained valuable experience for the future.

Demand from new young people to learn to row is always very strong and the club brings in as many as can be properly supervised by the coaching team. However as the club is reliant on volunteers and is very conscious that the levels of supervision must be at a safe level the intake of new young people each year has to be managed carefully. There have been 76 juniors at the club in the past year which is a large number historically.

FUTURE PLANS

The Trustees have nearly completed the drafting a new development plan for the coming years and some of the goals from the last plan will be repeated as the pandemic has prevented them from being achieved. This includes the goals of expanding to 300+ members and the building of extensions. Now that the Covid pandemic is over the club should find it easier to raise more funds to put towards its goals.

The club has planning permission for the proposed building extensions and still holds a substantial fund raised before the pandemic. Additional funds are needed however, and the Trustees are working on opportunities to obtain grants and other sources of support.

The ongoing programme to update the fleet of boats was re-started last year and it hoped to continue this in 2022/2023.

Promotion of junior rowing will remain a priority and significant resources will continue to be committed for this purpose. It is hoped that new members with disabilities can be recruited particularly in view of the new stable boat purchased recently.

J F CANTON

Chairman and Trustee

16 November 2022

5

Peterborough City Rowing Club Income and Expenditure Account for Year Ended 30th September 2022

6
2022
INCOME
Subscriptions
79,897
Grants
1,525
Donations & Non Capital Grants
11,954
Boat & Rack Hire
3,565
Course Income
14,347
Hire of Course equipment to PCRC L
1,800
Interest Received
154
Captains Account
0
Social Account Income
11,260
Clothing Sales
0
Insurance Claim
0
Other Income
0
Charitable Donation from PCRC Ltd
29,221
PURCHASES
Social Account Purchases
9,496
Health & Safety Purchases
449
Captains Account
0
Clothing Purchases
0
GROSS PROFIT
EXPENDITURE
Rent
895
Rates
1,075
Water Charges
1,088
Electricity
4,688
Telephone
2,402
Fire & Intruder Alarm Maintenance
2,258
Boat Repairs & Maintenance
9,833
Property Repairs & Maintenance
2,954
Building Project
0
Course Repairs
16,438
Coaching & Entry Costs
6,694
Non-recoverable VAT
3,641
Insurance
14,988
Cleaning & Waste
8,911
Print, Postage & Stationery
885
British Rowing Fees
1,592
Motor Expenses
650
Audit & Accountancy Fees
1,150
Licences
3,673
Sundries
0
Depreciatio
Note 2
SURPLUS FOR THE YEAR		 2021
72,815
36,975
13,638
3,540
11,487
1,800
31
0
245
0
0
0
27,889
153,722
735
342
523
0
9,945
143,777
895
1,075
689
1,028
2,440
3,200
6,435
21,414
16,439
11,002
4,094
915
19,951
5,335
1,060
1,446
1,334
775
3,106
0
83,815
59,962
19,856
40,106
168,420
1,600
166,820
102,633
64,187
19,856
44,331

Peterborough City Rowing Club Balance Sheet as at 30th September 2022

2022

2021

FIXED ASSETS
Note 1
CURRENT ASSETS
Stocks
Note 7
Prepayments
Note 5
Debtors
Note 6
Cash at Bank
Deposit A/C
General A/C
Bar A/C
VAT
Cash in Hand
TOTAL ASSETS
CURRENT LIABILITIES
Sundry Creditors
Note 8
Accruals
Note 9
NET ASSETS
CAPTIAL FUND
Special Reserve
Note 4
Balance at 1st October 2021
Surplus for the Year
Balance at 30th September 2022		 2,200
395
31,958
355,032
52,880
18,416
3,389
189		 336,762
464,459
801,221
1,040
800,181
7,776
792,405
800,181		 1,949
395
33,946
354,879
21,945
19,926
4,044
185		 323,846
110
930		 110
930		 437,269
761,115
752,299
40,106		 707,968
44,331		 1,040
760,075
7,776
752,299
760,075

7

Peterborough City Rowing Club Notes to the Accounts for Year Ended 30th September 2022

1. FIXED ASSETS

1. FIXED ASSETS
Net Book Additions Disposals Grants Depn Net Book
Value for Year Value
1.10.2021 30.9.2022
Boathouse 224,733 (3,400) 221,333
Boats, Oars & Equipmen 93,213 32,772 (15,852) 110,133
Course Equipment 3,322 (369) 2,953
Safety Equipment 289 (32) 257
Motor Vehicle 73 (24) 49
Bar Furniture & Fittings 1,613 (179) 1,434
Trophies (at valuation) 603 0 603
323,846 32,772 0 0 (19,856) 336,762

2. DEPRECIATION

Depreciation has been provided for at rates estimated to write off the cost of the assets over their expected useful lives.

The annual rates currently in use are:

Boathouse 1% on cost
Bar Furniture & Fittings 10% on reducing balance
Course Equipment 10% on reducing balance
Safety Equipment 10% on reducing balance
Boats, Oars & Equipment 15% on reducing balance
Motor Vehicle 25% on reducing balance

No depreciation is charged on additions during the year. No provision has been made in the accounts for depreciation on the trophies.

8

Peterborough City Rowing Club Notes to the Accounts for Year Ended 30th September 2022

3. ACCOUNTS FORMAT

At a General Meeting held on 7th July 2002, the Club adopted a new constitution and decided to apply for charitable status. Charitable status was subsequently granted and the Club became a registered charity on 7th February 2003. The accounts are prepared on an accruals basis.

4. SPECIAL RESERVE

During 1994/95 a special reserve of £7776 was created as a contingency against future unforseen occurences.

5. PREPAYMENTS

Motor Insurance 395
395
6. DEBTORS
Debtors 1,468
Donation from PCRC Ltd 29,221
Peterborough City Rowing Club Ltd 1,269
31,958
7. STOCKS
Clothing 785
Presentation Plaques 400
Bar Stocks 1,015
2,200
8. CREDITORS
Creditors 0
PCRC Ltd - Regatta Catering 0
Key Deposits 110
110
9. ACCRUALS
Audit & Accountancy 930
930

9

Peterborough City Rowing Club Cash Flow Statement for Year Ended 30th September 2022

2022 2021
SOURCE OF FUNDS
(Deficit) Surplus 40,106 44,331
Depreciation 19,856 19,856
TOTAL FUNDS GENERATED 59,962 64,187
APPLICATION OF FUNDS
Purchase of Boats/Equipment (32,772) (3,385)
Sale of Boats/Equipment 0 150
NET SOURCE/(APPLICATION) OF FUNDS 27,190 60,952
The net source/(application) of funds is
represented by the following
movements in current assets
Stocks 251 (80)
Debtors (1,988) 16,794
Prepayments 0 0
Creditors 0 0
VAT (655) 317
(2,392) 17,031
MOVEMENT IN LIQUID FUNDS
Net Opening Cash/Bank Balances 396,935 353,014
Net Closing Cash/Bank Balances 426,517 396,935
29,582 43,921
INCREASE/(DECREASE) IN CURRENT ASSETS 27,190 60,952

10