. RNERTIME , BOAT TRUST4 /1 Unaudited Trustees, Report and Financial Statements For the year ended 31 March 2024 Rivertime Boat Trust Limited (A company limited by guarantee) Registered num ber: 05659325 Charity number: 1113992
RIVERTIME BOAT TRUST LIMITED (A company limited by guarantee) CONTENTS Page Reference and administrative detalls of the charity, its trustees and advisers Trustees. report Independent examiner's report 9-10 Statement of financlal activities Income and expenditure account 12 Balance sheet 13-14 Notes to the financial statements 15-29
RIVERTIME BOAT TRUST LIMITED IA company limiled by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 President Mr Simon Nathaniel Davis Trustees Mr Christopher Robert Barrett DL, Chair of Trustees Mr Jonathan Richard Barnard Hobbs Ms Judith Ann Diment MBE Dr Diane Patricia Lesley Smylh (Appointed 29 November 2022) Mr Guy Andrew Fisher (Resigned 1 June 20241 Company r8gislered number 05659325 Charily registered number 1113992 Registered office 7 Avior 10 Longworth Drive, Maidenhead, SL6 8XA Prlncipal operating office 7 Avior 10 Longworth Driv8, Maidenhead, SL6 8XA Managing Trustee Mr Christopher Robert Barrett DL Accountants Theresa Bowers Accounting Ltd, 1 Charlotle Close, Caversham, Reading, Berkshire, RG4 7BY Bankers Lloyds Bank plG, 45 High Street, Maidenhead, Berkshire, SL6 1JS Solicltors Gardner Leader LLP, First Floor, 7 Frascati Way, Maidenhead, Berkshire, SL6 4UY
RIVERTIME BOAT TRUST LIMITED (A company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 OBJECTIVES AND ACTIVITIES Policies & Objectives Rivertime Boal Trust I"The Trust") was established by Pal and Simon Davis in 2006. Their objective was to build and operate a boat for disabled and disadvantaged children and adults on the river Thames. Al the lime, no boat provided these facilities between Oxford and Windsor. The Gompany and charity were formed for this purpose and Trustees were appointed to execute these plans. Activities for achieving objectives In 2008 they launched 'Rivertime', a specially constructed 42-fool passenger boat fitted with a ramp and a hydraulic lift for wheelchair users and providing a safe, caring and stimulating environment for both children and adults with all types of disability, however mild or profound. Since the inception of the Gharily the 'Rivertime' cruiser has been used each year from Easter through to October to provide trips for disabled and disadvantaged children and adults. One full time skipper is employed, and a cadre of volunlè8rs provide support as additional skippers and crew member5. Our volunteers ara trainéd al the start of aach annual season to ensure that appropriate levels of saf8ty ar8 maintained on every trip. 'Rivertime' has now taken out over 30,000 disabled 8nd disadvantaged passengers, travelled 19,500 miles, passed through 5,000 locks and benefitted from 13,500 volunteer hours The progress the Trust had made was recognised in 2012 when il was awarded The Queen's Award for Voluntary Service. In 2018 the Trust was awarded the Canal and River Trust 'Living wateayS Award far Learning & Skills,. ACHIEVEMENTS AND PERFORMANCE Following the Covid-19 pandemic the Trust has worked hard to build the numb8r of trips taken lo pre-pandemic levels and the results have increased year on year. The River and Rowing Museum ("RRM"I The River & Rowing Museum and the Trust have worked Collaboratively since 2013 to create educational boat trips for SEND children and young people, This initiative supplements the service that the Museum providos for SEND children and young people and extends the Trust's offer of a river cruisé for tha disadvantaged and disabled. This is a unique experience combining interactive museum workshops with a boat trip to enhance learning about tha river and its wildlife, allowing pupils to enjoy the therapeutic effeGls that being on and around the water can bring. There is no other initiative like this in the UK.
A new Joint Educational Partnership Since February 2024 Rivertime Boat Trust and the River & Rowing Museum have collaborated to create a brand-new educational programme for both neuro-typical children and children with special educational needs and disabilities. The new educational programme has been jointly developed by RBT and RRM to promote eduGation about the River Thames and the natural environment. Her Royal Highness, The Princess Royal launched the programme on 18 September 2023 and met with local children from SEND schools to learn more about the initiative, which highlights important environmental issues related lo wildlife protection, conservation, green living and climate change. Learning Outside the Classroom ILOtC) The Rivertime Boat Trust was re-awarded the Learning Outside th8 Classroom ILOtCI Quality Mark. This has enabled us lo develop educational programmes during the 2024 season where children from SEND settings can learn about the River Thames and its wildlife. Investment policy and performance Th8 Trust has invested funds with CCLA in the Listed COIF Charities Investment Fund Accumulation Units and the Trustees regularly review investment policy. Thèse funds are designated for the replac8menl of 'Rivertim8' when the trustees d8em this to be necessary. Funds and factors relevant to achieve objectives The Trustees, recognising that lo continue to provide the range of services currently offered, will ¢onlinue lo set aside funds lo replace the 'Rivertime'. Further funds are required, and the Trust will continue to seek support from generous donors and grant making bodies lo ensure the Charity is able to develop its service offering in the coming years. Reserving policy The Trustees consider that a minimum reserve in cash and liquld investments of £82,000 should be maintained in order to.. lil enable the charity to continue lo function for at least twelve months in the event of a reduction in income as a result of a major damage or other reason for Ioss Df use of 'Rivertime' for an extended period, including any unanticipated major repair costs., and (ill finance major replacements of mechanical and electrical equipm8nt that may become necessary due to the age of the boat. The Trustees have also created an additional Designated Reserve of £125,789, equivalenl to the accumulated depreciation of Rivertime, to replace it in due course at tha end of ils useful life. The Trustees aim to secure sufficient Cash and investments lo finance this reserve over lime. As of 31 March 2024, the value of unrestricted cash and liquid investments to support these objectives was £139,789. Forward lookin9 Statement Management Changes: Historically, the charity relied on the energy, expertise and time of its founders, and the voluntary work given by the Chair of Trustees, Chris Barrett.
It was decided that, for the charity to continue to offer its specialised service to the very highest standards and, in acknowledgement of the request by Chris to slep back from the day-lo-day management of the charity, that a paid-for managerial role would be created. Ex-Trustee, Guy Fisher, was given the position on a part-time basis to manage the charity from June 2024, and part of his role is to recruit a new Operations Manager for the charity for 2025. Guy has been involved wilh the charity as a volunteer for twelve years and was an active Trustee (before resigning to take up his new role). He has a business background in with River Thames boat hire and small business operations and marketing. Projects Achieved in the 2024 season: The following essential projects were identified 8nd have been completed.. Implementing new electronic booking system and CRM software (completed prior lo 2024 season) A thorough overhaul of all operations, vessel maintenance plan, introducing age limits for crew and skippers, further safeguarding and first aid training Reviewing all charity policies Newslelter provisioning Database overhaul Effective management and accountability for the employed Senior Skipper The re-awarding of the 'Learning Outside the Classroom, {LOtCI Quality Badge Improved reporting management systems Introduction of a customer feedback system
Organisational structure and decision making The Board comprises Trustees who have the experience and relevant skills to carry out the functions of managing the charity. The Trustees meet quarterly and make the relevant decisions. A Trustee is responsible for selecting and managing skippers and crew involved in running our cruiser 'Rivertime'. The Trustee5 are responsible for keeping adequate accounting records that are sufficient to show and explain the charitab5e company's transactions and disclose with reasonable accuracy at any lime the financial position of the charitable company and enable them to ensure Ihal the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the asset5 Of the charitable company and hence for taking reasonable steps for the prevention and d81ection of fraud and other irregularities. This report was approved by the Trustees, on and signed on their behalf by.. Mr Christopher Robert Barrett DL Managing Trust88
RIVERTIME BOAT TRUST LIMITED (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RIVERTIME BOAT TRUST LIMITED (the 'company') I report to the charity Trustees on my examination of the accounts of th8 company for the year ended 31 March 2021. This report is made solely to the company's Trustees. as a body, in accordance with Part 4 of the Charities (Accounts and Reports} Regulations 2008. My work has been undertaken so that I might state lo the company's Truste8S those matters l am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Gompany and the company's Truste8s as a body, for my work or for this report. RESPONSIBILITIES AND BASIS OF REPORT Th8 Trustees {who are also directors of Rivertime 8oat Trust Limited for the purpos8s of company law) are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice}. Company law requires Ihe Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the slate of affairs of the ¢haritabl8 company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing Ihese financlal slalements, the Trustees are required to.. select suitable accounting policies and then apply them consisl8ntly', obs&rve the methods and principles in the Charities SORP. make judgments and accounting estimates that are reasonable and prudent- prepare th8 financial statements on the going concern basis unless it is inappropriate lo presum8 that the charitable cornpany will continue in operation.
RIVERTIME BOAT TRUST LIMITED IA company limited by gu8ranteel INDEPENDENT EXAMINER'S REPORT {continued) FOR THE YEAR ENDED 31 MARCH 2024 INDEPENDENT EXAMINER'S STATEMENT I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe- accounting r8CDrds were nol kept in resp8Ct of the company as required by section 386 of the 2006 Act., or th8 accounts do not accord with those records., or the account5 do nol comply with the accounting qUireMentS of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination; or the accounts have been prepared in accordance with the methods and principles of the Statement of Recommended PractlC8 for accounting and reporting by charities applicable to charities pr8paring their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order lo enable a Proper understanding of the accounts to be reached. Signed- Dated.. Theresa Bowers FIFA FCCA Theresa Bowers Accountancy Ltd 1 Charlotte Close Caversham Reading Berkshire RG4 78Y 10
RIVERTIME BOAT TRUST LIMITED (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Total funds 2023 INCOME FROM: Note Donations and grants Charitable activities Other Revanue 23,854 32,420 431 9,500 33,354 32,420 431 91,629 22,822 TOTAL INCOME 114,451 EXPENDITURE ON: Raising funds Charitable activities.. Other charitable activities Governance 57,332 8,809 19,195 76,527 61,668 6,148 TOTAL EXPENDITURE 66,141 NET INCOMEI(EXPENDITURE) BEFORE INVESTMENT GAINS (9,436) {9,6951 (19,1311 46.635 Net gains on investments 12 494 NET INCOME I (EXPENDITURE} BEFORE TRANSFERS (4,915) (9,695) (14,610) 46.141 Transfers Between Funds 16 863 863 NET INCOME I (EXPENDITURE) {4,052) {10,558) (14,6101 46,141 RECONCILIATION OF FUNDS: Total funds brought forward 210 023 241 689 195,548 TOTAL FUNDS CARRIED FORWARD 205,971 21,108 227,079 241,689 The notes on pages 13 to 26 form part of th8S8 financial statement 11
SUMMARY INCOME AND EXPENDITURE ACCOUNTFOR THE YEAR ENDED 31 MARCH 2024 Total funds 2024 Total funds 2023 GROSS INCOME IN THE REPORTING PERIOD 70,726 113,957 Less.. Total expenditure 67,816 NET INCOME FOR THE FINANCIAL YEAR (14,6101 46,141 12
RIVERTIME BOAT TRUST LIMITED IA company limited by guarantee) BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note FIXED ASSETS Tangible assets 68.083 80.382 Investments 12 127,628 135,406 CURRENT ASSETS Debtors 13 19,999 14, 779 Cash at bank and in hand 101352 107 140 121,351 121,919 CREDITORS: amounts falling due within one year 14 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES 227,079 241,689 CREDITORS: amounts falling due after more than one year 15 NET ASSETS 227 079 CHARITY FUNDS Restricted funds 16 21,108 31,666 Unrestricted ftjnds 16 205 971 21 023 TOTAL FUNDS 13
RIVERTIME BOAT TRUST LIMITED IA company limited by guarantee) BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2024 The Gompany's financial slatements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. The Trustees consider Ihat the company is entitled to exemption from th8 requirement to have an audit under the provisions of section 477 of the Companies Act 20061"the Act") and members have not required the company to obtain an audit for the year in question in accordance with s8Ction 476 of the Act. The Trustees acknowledge their responsibililies for complying with the requir8ments of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements were approved and aulhorised for issue by the Trustees on on their behalf. by.. and signed Mr Chrlstopher Robert Barrett DL Managlng Trustee The notes on pages 15 10 29 form part of these financial statements. 14
RIVERTIME BOAT TRUST LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES 1.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 2015) - (Charities SORP (FRS 10211, the Financial R6POrting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Rivertime Boat Trust Limited meets the definition of a public benefit enlily under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otheise stated in the relevant accounting policy. The trust has sufficient reserves to ensure its continued operation for at least the next twelve months and the Trustees are therefore confident that the charity will be able to continue as a going concern. The financial statements have been prepared on this basis. 1.2 Company status The company is a company limited by guarantee, incorporated in the United Kingdom and reglslored in England and Wal8s, registered number 05659325. The address of the registered office 15 7 Avior, 10 Longworth Driv8, Maidenhead SL6 8XA. The members of the company are the Trustees named on pag8 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. 1.3 Income All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Donated services or facilities are re¢ognised when the company has control over the item, any conditions associated with the donated ilam have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP IFRS 102), the value of general volunteer time Of friends is not recognised. On receipt, donated professional services and donated facilities are recognised on the basis of Ihe value of the gift lo the company which is the amount the company would have been willing to pay to obtain seNices or facilities of equivalent economi¢ benefit on the open market., a corresponding amount is then recognised in expenditure in the period of rec8lPt. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised al the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the inv8Stment income is receivable. 15
RIVERTIME BOAT TRUST LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 1. ACCOUNTING POLICIES {CONTINUEDI 1.4 Expenditure Expenditure is recogni5ed once there is a legal or constructive obligation to transfer economic benefit to a third party, il is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each aclivily. Direct cos15 attributable to a single adivity are allocated directly to that activity. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the ass@I's use. Support costs are those costs incurred directly in support of expenditure on the objects of the company. Governance costs are those incurred in Connection with administration of the company and compliance with conslitulional and stalutory requirements. Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. Charitable activities and Governance costs are costs incurred on the cornpany's operations, including support Costs and costs relating to the governance of the company apportioned to charitable activities. All expenditure is inclusive of irrecoverabl8 VAT. 1.5 Tangible flxed assets and depreciation All assets costing more than £250 are capitalised. A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities incorporating income and exp8nditur8 account. Tangible fixed assets are carried al cost, nel of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual valu8, over their expected useful lives on the following bases.. Boats Equipment 5 % straight line 10'/o Straight line 1.6 Investments Fixed asset investm8nts are a form of financial instrument and are initlally recognised at their Iransaction cost and subsequently measured al fair value at the Balance sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are Gombined and shown in the heading 'Gains/llosse5} on investments, in the Statement of financial activities incorporating income and expenditure account. 16
RIVERTIME BOAT TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 1. ACCOUNTING POLICIES (CONTINUED) 1.7 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by Ihe company., this is normally upon notification of the interest paid or payable by the Bank. 1.8 Debtors Trade and other debtors are r8cognised at the settlement amount after any trad8 discount offered. Prepayments are valued at the amount prepaid nel of any trade discounts due. 1.9 Cash at Bank and in hand Cash at bank and in hand includes cash and short term highly liquid investments wilh a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.10 Liabilities and provlsions Liabilities are recognised when there is an obligation at the 8alanc8 sh8et date as a result of a past event. il is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised al th8 amount that the company anticipates It will pay to s8ttle the debt or the amount it has rec81V8d as advanced payments for the goods or services it must provide. Provisions are measured at the best 85timate of the amounts required to settle the obligation. Where the effect of the lime value of money 15 material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liabillty. The unwinding of the discoLtnt is recognised within interest payable and similar charges. 1.11 Financial instruments The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 1.12 Penslons The company contributes to the skipper's defined contribution personal pension plan. The pension charge represents the amounts payable by Ihe company to the fund in respect of the year. No amounts were due at the year end.
RIVERTIME BOAT TRUST LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI 1. ACCOUNTING POLICIES (CONTINUED) 1.13 Fund accounting General funds are unrestricted funds which are available for us8 at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. Designated funds comprise unrestricted funds that hava been sel aside by the Trustees for particular purposes. The aim and use of each designated fund is sel out in the notes to the financial statements. Restricted funds ara funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restrict&d fund is set out in th8 notes to the financial statements. 1.14Judgements in applying accountlng policies and key sources of estimation uncertainty In preparing these financial statements, the trustees are required to make judgements, estimates and assumptions about the carrying amount of the assets and liabilities that are not obtainable from other sources. Judgements, eslimales and assumptions are based on historical experience and other factors that are considered to b8 relevant. Actual results may diff8r from these estimates, but are unlikely to b8 material. 18
RIVERTIME BOAT TRUST LIMITED (A Company limited by guarantee> NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) INCOME FROM DONATIONS AND GRANTS Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Donations Grants Government grants 23,349 505 23.349 10,005 33, 149 58.480 9,500 Total donations and grants 33,354 97,629 Total 2023 58,169 33,460 91,629 INCOME FROM CHARITABLE ACTIVITIES Unrestrlctad Restricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Rivertime - Boal18ltings Accessible Boating bell boatlng days 31,670 750 31,670 750 22, 822 Total Income from Charitable Activities Total 2023 22,822 22,822 ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES Unrestrlcted Restricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Rivertime Accessible Boating 57,332 19,195 76,527 58,426 3,242 Total expenditure on Charitable Activities 57,332 61,668 Total 2023 37,888 23,780 61,668 19
RIVERTIME BOAT TRUST LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) Accessible Boating Total 2024 Total 2023 Rlvertime 'Rivertime" running costs Accessible Boating Gosts Promotional & Fundraising costs Licences Staff training Professional fees Wages and salaries Pension cost Subscriptions Equipment Depreciation Support costs (Note 61 14,356 14,356 4,970 6,083 518 347 6,614 29,664 3,103 225 6.083 518 347 6,614 29,664 3,103 225 4, 702 91 1670 108 29,664 3,103 934 12,299 4,127 12,299 3,318 12,299 3,318 67,668 TOTAL 2023 58,426 3,242 61,668 SUPPORT COSTS Unrestricted funds Total 2024 Total 2023 Website costs Computer costs Office costs Wages and salaries 288 643 2,387 288 643 2,387 19 810 3,082 216 In the year ended 31 March 2023, all support Gosts were expended from unrestricted funds. 20
RIVERTIME BOAT TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) GOVERNANCE COSTS Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Independent examination Accountancy, bookkeeping and payroll Insuran 750 2,785 5,274 750 2,785 5,274 550 1,262 4,336 6,148 In th8 year ended 31 March 2023, all governance costs were expended from unrestricled funds. ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE Staff costs Depreciatlon Other costs 2024 2024 2024 Total 2024 Total 2023 Rivertime Accessible Boating 32,767 9,057 3,242 31,461 73,285 3,242 58,426 3,242 Charltable activi1Ses 32,767 12,299 31,461 76,527 61,668 Expenditure on governance 8,809 8,809 6,148 40,270 67,816 TOTAL 2023 32,767 12,299 18,472 67,816 21
RIVERTIME BOAT TRUST LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) NET INCOMEI{EXPENDITURE) This is stated after charging.. 2024 2923 Depreciation of tangible fixed assets- owned by the charity Independent 8xamination 12,299 12,299 During the year, no Trustees received any remuneration or benefits in kind. Christopher Barrett receiv8d reimbursement of exp8nses of £012023 - £60). 10. STAFF COSTS Staff costs were as follows- 2024 2023 Wages and salaries 29,664 29,664 Other pension costs 3,103 3,103 32, 767 The average number of persons employed by the company during the year was as follows.. 2024 2023 No. Skipper No employee received remuneration amounting to more than £60,000 in either year. 22
RIVERTIME BOAT TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 11. TANGIBLE FIXED ASSETS Boats Equipmont Total Cost At 1 April 2023 222 071 Depreciation Al 1 April 2023 Charge for the year 146,762 6.897 153,659 At 31 March 2024 16 N8t book value At 31 March 2024 At 31 March 2023 12. FIXED ASSET INVESTMENTS Listed securities Market valuo At 1 April 2023 Disposals Revaluations 55,024 Al 31 March 2024 Investments at market value comprise.. 2024 2023 Listed investments: COIF Charities Investment Fund Accumulation Units All the fixed asset investments are held in the UK 23
RIVERTIME BOAT TRUST LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 13. DEBTORS 2024 2023 Trade debtors Other debtors Prepayments and deferrèd 8xpenditure 15,185 4,814 10.290 4,489 14. CREDITORS: Arnounls falling due within one year 2024 2023 Trad6 creditors Other taxation and social security 354 359 460 136 Accruals and deferred income 21,187 15,040 15. CREDITORS: Amounts falllng due after more than one year 2024 2023 Other credilors (Note 20) 24
RIVERTIME BOAT TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) 16. STATEMENT OF FUNDS STATEMENT OF FUNDS - CURRENT YEAR Gains I (Losses) Balance at 31 March 2024 Balance at 1 April 2023 Transfers Inlout Income Expanditure Designated funds Rivertime Boat 117932 125 789 General funds General funds Total unrestricted funds 210 023 863 205 971 Reslrlcted funds Classroom Fund The Davis fund Berkshire Community Foundation National Lottery Henley Educational Trust Shanley Foundation 15,000 2,273 15,000 (2,273) 3,600 6,500 5,000 {8,5501 {6,500} 50 1,010 1,010 1,495 4,500 {3,005) Give Them A Sporting Chance Oxford Community Fund Mobbs Memorial Fund 2,000 1,160 400 2,400 20 11,140) Total restricted funds 863 Total funds 241,689 66,205 85,336 4,521 227,079 25
Aim and us f desi nated funds The designated funds represent funds designated by Ihe trust8es for specific future purposes. Where these have not been expendèd during the year they are carried forward. Details of the designated funds are as follows.. Rivertime Boat Fund - The Irustees have aulhorised a designated fund to be set aside for the replacement of Ihe 'Rivertime' boat at an anticipated Cost of £350,000. The fund is calculated as an amount equal to thé accumulated depreciation on the "Rivertime" which on 31 March 2024 was £125,789. Aim and use of restricted funds The reslri¢led funds represent grants and donations receivéd for specific purposes. Where thes8 have not been expended during the year Ihey ar8 carried forward. Details of the restricted funds are as follows.. Classroom Fund comprises funds donated for the construction of a floating classroom. The trust8es have deemed this project is unviable and funds have been returned in 2024125. The Davls Fund was established to fund special projects. The donor has now agr8ed that the remaining funds may be treated as unreslricled. The other funds listed were provided to finance many trips on Riv8rtime by SEND schools. 26
SUMMARY OF FUNDS- PRIOR YEAR Gains I (Losses) Balance at 31 March 2023 Balance al 1 April 2022 Transfers Inlout Income Expenditure Designated funds Rivertime Boat 110 068 117 932 General funds General funds 494 Total unrestricted funds 157 764 494 210 023 Rastricled funds Classroom Fund Accessible Boating fund Th8 Davis fund Louis Bayliss fund (LOTC) Shanley Foundation Berkshire Community Foundation National Lottery Give Them A Sporting Chance 15,000 17,114 4,670 1,000 15,000 11,3161 (1 5,7981 (2,3971 (1,0001 (5,000) 2,273 5,000 4,800 9,900 2,000 (1,200) {3,400} 3,600 6.500 2,000 Henley Educational Trust Arnold Clark Oxford Community Fund Barcapel Foundation Mobbs Memorial Fund 2,560 2,000 3,200 2,000 {2,560) {2,000) 12,040) 12,000) 867 1,160 Total restrlcted funds Totsl funds 114451 (494) 241 689 27
RIVERTIME BOAT TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED> 17. ANALYSIS OF NET ASSETS BETWEEN FUNDS CURRENT YEAR Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Creditors due in more than one year 68,083 59.545 100,243 (21,9001 68.083 59.545 21,108 121,351 (21,900) 205,971 21,108 227,079 PRIOR YEAR Unrestrictgd funds 2023 Restricted funds 2023 Total funds 2023 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Creditors due in more than one year 80,382 55,024 90,253 115,637) 80,382 55,024 31,666 121,919 {15,6371 210 023 31 666 241 689 28
RIVERTIME BOAT TRUST LIMITED IA Gompany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 18. PENSION COMMITMENTS The company operates a defined contributions pension scheme. The assets of the scheme are held separately from Ihose of the company in an independently administered fund. The pension cost charge represents contributions payable by th8 company to the fund and amounted to £3,103 {2023- £3.1031. 19. MEMBERS, LIABILITY Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while helshe is a member, or within one year after helshe ceases lo be a member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before helshe ceas8S to be a member. 20. RELATED PARTY TRANSACTIONS Hobbs of Henley Limiled (of which Mr Jonathan Hobbs is a Director) logelher with a number of other organi5ations and individuals also provide a number of services such as boat transfers, mooring and us8s of other facilities free of charge. The value of these services cannot be readily quantified, 29
RIVERTIMT , BOAT TRUST- Iww.rivertimeboattrust.org.uk