2024-03-31-accounts

REGISTERED COMPANY NUMBER: 06243293 (England and Wales) REGISTERED CHARITY NUMBER: 1122941(England and Wales} LONDON YOUTH ROWING LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Cox Costello & Hom• Chartered Accountants and Slalutory Auditors Batchworth Lock House 99 Church Street, Ri¢kmansworth WD3 1JJ

LONDON YOUTH ROWING LIMITED CONTENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Legal and Administrative Detai18 Chairman's Report Trustees Report 3 to 10 Report of the Independent Auditors 11 to 13 Statèment of Flnancial Activities 14 Balance Sheet 15 Statement of Cash Flows 16 Notes to the FlnanciaS Ststements 17 to 29

LONDON YOUTH ROWING LIMITED LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES Mr N J Baker Mr A Burrun Mr l D Edmondson Ms S H M Hosking MBE Ms A Johnson Mr U Mansoor Ms K A Morfts Dr l J Pickup Ms S A Robinson MrJGPSage Ms M Sikorowska REGISTERED COMPANY NUMBER C6243293 (England and Wales) REGISTERED CHARITY NUMBER 1122941 (England and Wales) AUDITORS Cox Costello & Horne Chartered Accountants and Slalutory Auditors Balchworth Lock House 99 Church Street, Rickmansworth WD3 1JJ BANKERS National Westminster Bank plc 135 Bishopsgale London EC2M 3UR WE8SITE Nww.londonyouthrowing.com Page 1

LONDON YOUTH ROWING LIMITED CHAIRMAN'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees are pleased lo present their report. along with the Chaiman's Foreword and financial statements for the year ended 31 March 2024. Chairman's Forèword Oear Supportets. Partners, and Fiiends, As Chair of London Youth Rowing ILYRI, it is my pleasure to welcome you to our Annual Roport. This past ye8r has been a notable peri¢)d for LYR. marked by significant ach￿vern&nts and steady prc>gress in our mission to empower young people Ihiou9h rowin9, LYR has continued lo deliver 3ubslanlial impact on the lives of young ￿ople, both within London and across the naliin. With invaluablf support from Biilish Rowing and the Henley Royal Regatta Charitable Trust. Wo have been able to 9Xtend the reach ol our Active Row PTogramme 10 include the vibrant city of Biistol. Thls expansion signifies an important slep fO￿ard in bringing tho physical and mental benefits ol our pfogrammès lo more young people in need. Our dedicated team 81 LYR has honed their approach through years of experi8nc8, refining our programmes to better serve our participants. This year, a$ every year, they faced the ongoing challenge of raising sustainable funding to keep these important programmes running. l am proud of how th& team has addressed these challengès with maturity and Collegiale spirit. demonslraling th6 resilience and slienglh of our organisation's culture and leadership. We look fO￿ard lo Ihe future as we continue our work with strategic partners and long-standing funders. These rel81ionships are key in shaping L YR'S activities In the coming months, and we will be working closely to énsure these collaborations will help us continue our progress In the y8ars to come. One of our significant developmènts has been establishing a base al the Queen Elizabolh Olympic Path, with the support of thè London Legacy Oevelopmenl Corporation. As hoped, this locaty'on is becoming an integral part of our community programming and ¢orporal8 engagement, offering a dynamic venue for our activities and slrenglhening our presence in the aiea. In response lo the challenging tsmes faced by charities everywher8, we h8ve made efforts lo diversify our revenue slreams, ensuring oui financial rèsilience. A notable achievement in this regard is b8coming the UK Ir8nchisee for Lite Boats. which offers accessible rowing boats lor recreational use on all types ol water, This inilialive supports our linancial stability and aligns with our mission of making rowing accessible lo all, On a personal note, my lem as a Tfuslee ol L YR condudas this y8ar. after Se￿ing three rewarding 3-ye8r terms. 11 has been a privilege to contribute lo the gfowth and success of this charity. l am pleased lo announce that. followin9 a recruilmenl process led by our Nomin81ions Committee and fellow TrLtslee lan Pickup, I will be passing the role of Chair lo a highly experienced and capable successor. I have absolu16 confidènce that they will ¢ontinue to sl8er L YR towards a bright fvlure. In ¢lo$ing, l extend my sin¢￿re thanks to our supportèrs, partnèrs, and everyone who has beèn part of Ihe LYR iourney during my time as Trustee and Chair. Your dedication and contributions have been instrumental in our progress. As I step back, I look forward lo s88in9 the continued positive impact ol LYR on the lives of young paople across the UK In years lo com8. Thank you for your support. Mr l D Edmondson Chair Date". This Annual Report and Financial Slalemenls document is available lo download from our website at https.'Ilwww.londonyoulhrowing.comlabout-us#Gov-Accounls. Page 2

LONDON YOUTH ROWING LIMITED TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustee3 of London Youth Rowing Limiled ('LYR' or the "Charity"), who are also directors for the purposes of company law, are pleased to present their Report and Financial statements for the financial year ending 31 March 2024. prepared in accordance with the special provisions lor small companies under Part 15 of the Compani85 Act 2006, Ihe Charity SORP "Accounling and Reportin9 by Charities.. Statement of Recommended Practice applicable lo charities prepaiing Ih8ir financial stslements in ac¢ordan¢8 with the Financial R8POrting Slandard applicable in the UK and Republic of Ireland IFRS 1021 {effective January 20221" and FRS 102 ilsell. The Trustees have complied wslh the duty in Section 4 of the Charities Act 2011 to hav8 due règard lo the public benefit guidan￿ published by the Chafily Commission in determining the activities undertaken by the Chanty. Alm8 and ObJg¢tlv•£ The inspiration for the founding of LYR was, and rem8in$, a belief that rowing and other fomis of physical activity promote whole-lile health benefits, including sglf.development, teamwork and enhanced self-esleem. LYR works lo make these benefits accessible lo young people frt)m all backgrounds, abilities and walks of life. The objectives of the Charity. 85 described in ils Mamorandum ol A8sociation, are to provlde fa¢illlie$ and services f indoor, outdoor and adaptive rowing (for those wlh physical disabililiesl, and other sports or aclivilies, lo improve tha health, fitness and well-being of young people in the inlefests of sorjal welfarè. LYR works with people aged 11 10 18 in London and other locations In the UK who, by rèason ol their youth, disability or cir¢umslancEs, would not olh&rwise have a¢ces$ lo these activities. Our dedicalad coaches and d8velopm8nl team aspire to help all our participants grow through sport lo reach IheiT true potential in their daily lives. Hence our motto. Making Champions Every Day,. LYR continues to support our staff by committing to paying the real Living Wage both in London and Natsonally and will look to become a Living Wage Affiliated organisalion this coming year. Actlvlllos To achieve these objectives, LYR aims to.. D&velop and deliv8r inspiring indoor and on.water rowing programmes o¢ro$$ the UK,. Provide both the coaching and equipment required to support these programmes,, Piovide awards schemes and a ¢ompolilion framework lo increase participelion and molivalion,. Provide training, ¢8rtificalion and support for school leachers and youth 18aders to ensure a high slandard of delivery lor our programm8S', Raise awareness ol rowing and fitness among young people of all abilities acro$$ the UK.. Develop all our young rowers lo a competent level, and the m08t18lented lo the highest levels; Provide opportunities for all to enler comp8tillons- as Individuals or in school or dub teams. A¢hlevement• and Perfomianc• For LYR, 2023124 was an opportunity lo ¢ontinue to build on the successes of the post pandemic years and lo begin the process of consolidating and sustaining the delivery of our expanded programmes acr085 the UK. Our mission remained unchanged, namely to dev81op young people through physical activity and to open access lo lowing and other walersports al all18vel8. We supported young people lo become confident, capable, and activ8 through rowing and. increasingly, other water sports, Through our programmes we use sport as a tool lo engage young peopl8 and help thom develop key life skills. In 2023124, LYR worked with 4,855122123.. 5,5771 young people across our Core programmes We ¢ontinue lo bnng the sport of rowing, together with other walersports. to an inciedibly diverse audienc8. Over the year, 41% (22123., 50%) of our participants were female. 60% (22123.. 59Vol came from ethnic minority backgrounds and 140/tt122123.' 13%} were young people with spe¢ial educational needs or who regarded themsèlves as having a disability ISENOI. AS in p￿ViouS years, we ran a series ol prograrnmes and events for young people through th• year. focusiThJ on thréè main themes, Outreach and Enga9emenl, Talenl In¢lu$Son and Inclusive Competition and the development of Life Skills. In addition, we ran a series of fundraising events for partners and supporters to generate unrestricted thjnds lo support the work of the Charity. Each of these is descrit*d in mor8 detail below. A key achievement was the launch ol a new Active Row prograrnmè in Bfi5tol. Page 3

LONDON YOUTH ROWING LIMITED TRUSTEES REPORT (CONTINUEOI FOR THE YEAR ENDED 31 MARCH 2024 Oulrea h&En AGtive Row London We were able lo deliver another Suc￿SSIu1 year 8clivity through our flagship Active Row London prograrnme. LYR en9aged with more than 50120123. 601 schools across London. with 1,559122123 1.9811 young people taking part in the sport through Active Row. Of those taking part, 42Vo122123. 420AI were lernale, 76.10 {22123: 870hl came from an ethnic minonty background and 22% {22123". 14Vo) had special educational needs or a disability. All but one slate secondAry schools in Islinglon took part in the progfammfr thanks to ￿ndIng provided by the London Borough of Islinglon and th& Henley Royal Regatta Charitablo Tru$l, with further support from Morgan Sindall. 12 schools from Newham 8180 look part in the programme. as w¢ll as a number of "n8tsvotk schools. path'cipating in the programme from Boroughs across London. The Alternative Provisions programme, a part of Active Row London funded by the Vintnérs, Company, also ran throughout th8 year. coming to a close In January 2024. The progfamme focused on working with young people who are excluded from mainstream education and used a focused 12-we8k programme of on-v4ater rowing to help them improve self_conlrol. aspiration and teamwork, key skills needed to help them Ihfive and support a return lo mainstream schools. 86122123. 1031 young people from 6122123 81 different Allernalive Piovisions took part in the programme this year. Activè Row SEND. funded by City Bridg8 Trust, is a fijrthér strand of thè Active Row London programme focused on working wilh young peop58 with special adu¢alional ne8d8 or a disability. A $pecialised coach works with SEND schools and units lo deliver th8 Active Row programme, including indoor, on woler and Competition events. ile we now run numerous programmes beyond London, tho capital romains a key focus. The past year has seen a significant continued usage ol LYR'3 water sports pontoon on the Queen Elizabeth Olympic Park lor both community and corporate events. We continue lo run a wide range of programmes and sessions at the Royal Docks. supported by the Royal Docks Trust and oper81ing in ctose partnership with the Royal Albert D￿k Trust and Marine Society & Sea Cad•l$ Beyond London . Actlve Row Leeds. Nottingham, Brlstol & Kent Active Row Léeds. which launched in September 2021, has had a very successful third academic year of operation. Continued funding from Henley Royal Regetta Ch8ri18ble Twst and additional 5UPPOrt from the Boat Rae8 Fund means that the programme has continued lo operate in 22 122123.. 271 schools across Leeds, Bradford and Wakefield. 961 122123. 4301 young people look part in tho programme this year, of which 40%122123.' 49Vol ware female, 440/0 122123.. 590kn1 came from ethnic minority backgrounds and 6Q/ty 122123.. 120/ul had special educational needs or a disability The progr8mme has seen more on-waler rowing this year thanks lo our partnership with Leeds RC, making use of the Rovndhay Pat1( boathouse. In addits'on, 272 young people from 16 Active Row Leeds schools répr8senled their schools al the National Junior Indoor Rowing Championships INJIRC) in Leed$ in February. Active Row in Nottingham has had a very su¢cessful second year. With hjnding from Henl8y Royal Regatta Charitable Trust and the continued use of rowing machines donaled in 2022 by Concept 2 UK. The pro9ramrn8 has allowed 12 {2022123.. 10) stale secondary schools lo offer rowing to their pupils. The prcgramme has been benefitted from continued support by volunteers from the University ol Nollingham, with on-waler rowing facililaled by the of Nottingham & Union RC. Numerous additional schools in ltte area have expressed an Interest in taking part and we are exploring options lo expand the progfamme as we move into ils third year. 315 {22123'. 201) young people took part in the programme this year, ol which 390A {2022123." 36Vg1 were female, 39Qh 12022123.. 21Vo) came from elhnic minority backgrounds and 6% 12022123.. 6Vol had special educational needs or a disability. During the past yoar we have 8190 lurther developed Active Row Kent. A second year of lunding from the Port of London Authority and Biilish Rowing allowed us lo build on the progress made in 202212023. We have built on our partnership with Gravesend RC lo allow nLtmerous schools takin9 part in the progfamme to P8rti¢ipale in on-waler Towing. During the year we worked with 11 12022123.. 51 Stale secondary s¢hools in the Gravesend area. 55012022123.. 7311 young people look part in the programme this year We were delighted to launch Actsve Row in Bristol in ma￿h, our latest geographical expansion. With funding from both Bri115h Rowing and Henley Royal Regatta Charitable Trust. we launched the programme with a taTgel lo work with 10 slate se¢ondary schools in the city. The programme has been supported by volunteers from Bristol Ariel RC and City of Bristol RC, and we are looking forward to the first full academic year of operation from September 2024. Over 370 young people look part following the programme'$ launch in March. Page 4

LONDON YOUTH ROWING LIMITED TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 In all of these locations, Active Row continues lo deliver a high level of social impact and great value for money, as demonstrated by Ihe 202212023 Social Cost Benefit evaluation ol the Active Row programme in London completed by social value consultancy Slate ol Life on LYR'S behalf. The resulls of th8 report suggested that for every £1 invested in Ihe programme from 2017-2022, young people exFefienced £40 of benefit in terms of improved personal wellbeing, while each of the key indicators of personal wellbeing {as measured by the Office of National StalisliG51 improved for those taking part in the programme. as compared lo their non-participating peers. The largest benefits accrued lo those facing particular disadvantage - young wopl8 from mintsrity ethnic back9rounds experienced 3x the positive impact ol their peers, while young people eligible for pupil premiurn payments experienced 4x the benefit as compared lo their peefs not eligible for pupil premium. We also use the Skills Builder framework to measure progress of young people tsking part in the programme in developing Life Skills Al the most recent point of measurement, 950kn of Active Row parti¢ipant$ tracked across the year improved their skill levgls, on average by 3.5 points of a 16 point development scale. Talgnt In¢[ 91 Inclusive C eti io L YR Club LYR Club exists to help build a pathway from our Active Row school progfammes to on-waler and dub rowing. This is becoming an ever more important element of our work and we expect lo ¢Jo more in this area in the coming years. Funded by Sport England, the programme consists of a senes ol LYR "Open Clubs" Ihat run across London, providing youth club style weekly sessions to encourage young people to tske the step from the Active Row programme to rowing beyond the school setting. The Open Club feed into LYR Boat Club {BCI. a water sports club with inclusion as its core ethos. LYR BC has been running yeai-round al the Olympic Paik and the Royal Docks. Talent Pathways . Actlve Paddle & Ea$t London Porfomjance Development Academy The year to March 2024 also saw the second year of Active Paddle, our East London partnership wilh Paddle UK. The programme combines elem8nts of outreach to local schools, together with the gradual establishment of a performance paddling group to help young people from the East London area develop Ihe1r skills and feed into British Canoeing's lalenl pathways. As part of Active Paddle. we have been able to purchase kayak canoes to operate at the Olympic Park, adding another elemént to our mulli-sport offei. In September 2022, LYR launched a joint programm8 to establish a GB Rowing Performance Development Academy training squad at the Royal Docks, wort(ing in partnership with 8filish Rowing and the University of East London. The programme prodU￿d notable successes by using Active Row London as a base for Talent ID. One ol the athletes identified is now a national age group champion and training al Hartpvry College as part of the British Rowing PerformantA Development Academy. Aft8r tho success of th6 pilot year. in September 2023 the East London programm8 was taken in-house by British Rowing, bul we continue to work closely with the P&rfomian¢e Development leam to provide access to young people taking part in Active row. Mossboume Rowlng Academy The Mossbourne Rowing Academy, based al Mossboume Federatson stale secondary schools in Hackney, has continued lo perform strongly over the last year, despite facing a year of Iransilion. Head Coach Tom Wlkinson moved on to a new role, replaced by James Hyder who joined from the British Rowing Perfomance Development Academy programme. The squad competed in numerous Head races and Regattas through the season, with go¢yJ fesulls highlighting the potential for the future rtow that an established coaching team is in pla￿. We were also pleased lo work with Mossbourne to offer waler5POrts session5 to Year 8 primary school studonts, as part of their post-SATS activity programme. The pn)gramme continues to deliver on its aim to widen access lo rowing to Communities underrepfesented in the sport. 34Q/o 122123.. 36%) of Mossboume rowers through the year are from minority ethnic backgrounds (compared to 5% 01 rowers nalionallyl: 19Yo 122123.. 22¥41 come from low-income households {compared to 2Wo of rowers nationally),. and 140/. 122123.. 13Vol have special education needs andlor disabililie$. Parents ol the Mossbourne rowers once again supported the programme by taking part in large numbers in fundraising events including Race The Thames. Page S

LONDON YOUTH ROWING LIMITED TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 NatlonalJunlor Indoor Rowlng Champlonshlp (NJIRC) LYR On￿ again held INJIRCI in locatsons. London and Leeds, building on the success of 2023 and ensuring we maximise accessibility lor junior rowers outside London and the South East. There was a ￿Cord attendan￿ across the vo vènues, with 2,34312022123.. 1,9301 young people entering in London from 15912022123.. 1291 schools and clubs, while the Leeds event built on the succ8ss ol the first year to attfacl 75912022123.. 801) young people from 4912022123.. 441 schools and clubs. Medals were awarded to event winners in each location on the day, with a national winner {faslest from acros5 both venues) subsequently awarded a Irophy. Support from British Rowing and the Henley Royal Regatta Charitable Trust helped make the event inspirational lor young people taking part, while as ever the support ol Concept 2 lo run the day was both essential and greatly appreciated. Actlve Row Llle Skllls The development of Life Skills is a cor8 objective of the Active Row programrn8. LYR uses thè Skills Builder framework and focuses on building one of five core "Active Row Life Skills. leamwoik, slaying positive, aiming high, leadership and problem solving. Through the academic year we ran S 12022123: 61 Ilfe skills workshop days in London, biinglng Icgether corporatè partn8rs and schools lo leam rowing and life skills, working with 8 lolal of 146 12022123.. 6331 young people and numerous volunteers from our corporate partners, The Lif@ Skills y8ar culminated in the Active Row Festival al the end of June, with young people Irom 9 12022123.. 201 Acbve Row London schools taking part in water sports and life skills building a¢livilies al the Olympic Park. This programme has been generously supported this year by the Wellington Investment Management Foundation. wilh a number of olher partners Pfoviding volunteers lol the Life Skills Wofkshop Ihfough the year. "Slep Up" Coaeh Developmont We a150 comp1818d the final year ol our 'Step Up" Coach Development prograrnme, which aimed lo help ensure LYR, team ol coaches is the best il can be. The programme was funded by The Henley Royal Regatta Charitable Trust, whose support has allow8d LYR lo recruil a cohort of coaches from a divefse range of backgiounds, looking well beyond "Iradilional" rowing. Each coach went Ihrough a fy¥o-year programm& with tho aim of becoming a highly ￿tr￿lIve grassroots rowing coach, helping lo make our progr8mmes even more engaging and ac¢essibl& lor the young people we work with Step Up a150 SUPPOrted a longer.lewm syglemic goal of maklng rowing a mor6 diverse and inclusive sport, by creating a group of coaches with the mindsot and skills lo increase engagemenl in rowing and other sports acrosg the country. Although the programme has now formally come to an end. we will lake the learnings from Slep Up into our conlinu8d training and development for coaches across LYR. The year also saw L YR run a seriès of fundraising events, with the aim of raising awareness of our work with the r¢)wing community. corporate partners and other stakeholdors and raising vital unrestricted fvnds to support the ongoing operations of the charity. In December, we ran the fourth edition of our 'Rac& The Thames Virtual. event, 87 122123,. 1071 teams look part from corporate partners, rowing clubs, parents. schools and the genefal publi¢. The forrn8t remained unchanged, with each team taking on a 346km I'Riv8r Thames"} or 72km ('Tidal Tham8s"I challenge. Teams Iraeked their progres5 towards their goal cver race week on an online "LYR Arena" 8LlPPOrting and sustainin9 engagement in the event. Overall, the evgnt was once again a gieat success, raising vital tunds whieh were shar8d be￿e•n LYR and other charities nominated by each team. We were also delighted lo work with OCS lo njn a version ol 'Race The Thames Virtual" for 45 teams from across tho company in March, raising fvnds for both LYR and OCS Foundation, plus a number of IcKal ¢haiilies. In July 2024, we onc4 again ran the Oarsome Challenge. inviting crews 018 lo row in stable, fixed seal boats rowing through central London Irom Greenwich to Chiswick. A total of 26 teams 122123.. 231 took part in this year's evenl, including 12 in one day from the real estate sector, thanks to oui close partnership with Art Invest UK. During the year LYR was also appointed as the sole UK distributor lor Lileboats. We are excited to purse this opportunity Ihiough our trading subsidiary. Regatta London Limited, as a way of gen8raling unrestricted income and building towards social enterprise model lo support LYR'S future programmes. P8ge 6

LONDON YOUTH ROWING LIMITED TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Although the m8jority ol LYR'S prcgramme8 8r8 deliv8red by our qualified G08ching team, LYR once again made substantial use ol volunteers in the 2023124 year, and we are looking to make fvrther use ol volunteèrs in the fulure. Over 12012022123.. 2501 volunteers supported the delivery of NJIRC across th8 London and Leeds venu8S. Wlth people from our corporate partners and the rowing community giving up a day ol their time lo help run the event, In Nottingham and Leeds, we partnered with university sludenl volunteering programmes lo paif up volunteers with Active Row Clubs, helping lo support the sustainable delivèry ol those programmes. We will also pursue this approach in Bristol. We also used volunteers from our corporate partners lo help deliver our life skills workshop days in London throughout the year, helping yovng people boost skills and introducing them to induslne$ and potential career paths. As we develop the scale ol volunteering in the coming year5, we will continue to develop our systems and processes lo ensure we can manage volunteering efficiently and make guie all our volunteers continue lo have an excellent experience working wilh LYR. The Board have outlined fouf medium-lem alms for the future development of the Charity, which the management team will continué lo wort( towards in the Coming year. These all have the over-riding aim of enabling young peoplg from di5advanlaged backgrounds lo access the bènèfits of participating in rowing and other watei sports, in line with LYR'S mission. The objectives are to.. Deliver safe and impactful programmes that ali9n Wlth the goals of our funders and charitable objectives Champion the growth ol syiversity in lowing l& olher water sports) around the UK Establish finan¢i81 resilienc8 by developing effective partnerships and diversifying incom& Tell LYR'S story in a cleor arKI compélling way io enable thg continued suc¢ess and suslainabilily of the charity Once again, il has been a hugely busy and successful year whlch we b8lieve leaves LYR very well positioned for continued success as we go Inlo the new financial and school years. Fln•ncl•l Revlow Thé Charity's income was £1,120,220 12023.. £1,358,309) in the financial year ended 31 March 2024, The total &xp8ndilure foi the year was £1,221,72012023'. £1,370.5471. The fvll Stalemenl of Finanrial Activities is sel oul on page 14 of these financial statemen1$. Dufing the year the Chartty acqulred £41,11312023: £77,334) of fixed a5sels. The fund balanrk carried foThvaid as at 31 March 2024 was £408,40412023 £509,9041 cons￿ling of £229, 758 12023: £369,176) of unreslricleé fijnds and £178,64612023.' £140,728) of restricted funds The year to March 2024 was challonging financially for the Charity, The Charity recorded a deficit of £101,500 12023.. deficit £12,238). Both income and expens&s fell as compared to the prior year. Income generation has been particularly challenging. with bolh grant lunding from Trusts and Foundations and donations from fundraising events both lower than hoped. This reft8¢ts a wider challenge for the charity sector and the impact of the cosl-of-living crisis on charitable giving. Whilst reseNes and the Reserves Policy a￿ deemed sufficienl to withstand the ￿rrent ¢ondilions and provide support for this anticipated amount. the Charity is fooused on addressing these challènges Ihrough a varièty ol moasures, induding the lomiation ol a social enterpris8 project. joint Finance 8nd Fundraising Committee mealings on a bi-monthly Tegu1ar basis lo revkew grant applications, fundraising lar9els and expenditure and engaging with people who will research new revenue streams from Local Authorities, Health budgets and Mulli Academy Trust8. The Charity is also aclively exploring how we can expand our collabor&lion and engagements with corporal8 donors. There was a modest increase in restrieled fund balances durin9 the year, due in large part lo the use of lunding ftjr the purchase ol rowing machines lo support the launch of the Active Row Bristol programme and a build of funds for Active Row London due to staffing changes. The balance for Mossbourne will unwind befofe Ihe end of the current phase ol the programme in August 2024. Other restricted funds arg detailed in Nolg 12. LYR'S prin¢ipal funding during the period came from don81ions and grants from, amongst others, Sport England, Henley Royal Regatta Ch8ri18ble Trust, British Rowing. The Mossbourne F6deratson. The Royal Do¢ks Trust, The Vintners, Company. The Boat Race Fund. Wellington Investment Management Foundatson and City Bridge TfU8t. Many of these grants are multi-year and linked to the delivery of our range of programrnes, while others support core operating costs or event delivery. Page 7

LONDON YOUTH ROWING LIMITED TRUSTEES REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 In addition to these key fundeTS, we also have importanl operating partnerships with a number ol organisations, includin9 the Royal Albert Dock Trust al our base in the Royal Docks and with the London Legacy Development Corporation lol our work on London'3 Olympic Park. We also maintain close working relationships wilh other bod￿$ and organisalions r6levanl to our work, including British Rowing, the Port of London Authority and Concept 2. th8 leading manulaclurer of indoor rowing machines. Reserrfe8 Poll¢y The Charity's current R8sèNes Policy lemained in place durin9 the year 2023124. The policy considers the likely financial impact ol a number of adverse scenarios which could affect LYR, and against which the Charity should hold reserves. For each of these scenarios, the likely costs to manage the s￿nariO have been e51imaled lo give an eslimal6 of the reseNes needed lo safeguard against 6ach advar$8 event. Following a further review of the policy and scenarios in JanL*ary 2024, the Truslees agreed that unreslricled funds which have not been des19naled for $￿elriC usè should be maintained al a lev8101 £150,000. This figu18 comprises the upper end of the costs of thè s¢8narios considèred and an additional 'bufferf' to cover unantrcipaled cos15 or chan96s in thé underlying eslimale5 of responding lo each adverse scenario. The Trustees consider Ihal reserves at this level are appropriate lo ensure that the Charity will be able lo continue with its current activities if faced with all bul the most extreme of Ihe adv8rs8 scenarios considered. LYR will review the policy aTh the sc8narios considered on an annual basis and adjust the18v81 of Teserves held accordingly. Structurn. Governinee and Mlnagement The 8881¢ Arrangoments LYR was incorporated as a company limited by guarantee on 10 May 2007 and became a registered Charity on 25 February 2008, having been established in June 2004 as a virtual organisation with th8 aim ol attracting mor6 young people into rowin9 and olh8r physical activity. 11 adopted new Articles of As$o¢iali¢n on 6 December 2010. which provide for a minimum of tsvo and a maximum of hvelve Trustees, most of whom are elected by the members. Artides were again updated in October 2017, limiting Trustee5 to serving lor up lo three lenns ol three years. The Trustees, who meet al least quarterly. are responslble for finance, development and planning. New Trustees are Tecruiled by the ¢urrenl Trustees, having particular regard to the desirability of a broad range of professional skills assessed through a skills rnalrix. Meètings of the Trustees can be attendgd by Advisory Directors. appointed by Ihè Trustees. and sele¢led lo complement the skills ol the Trustees. Advisory Directors have no votes bul th8ir views ale consideied by the Trustees. The Trustees The Trustees, wh0 served dunng the year and up to the date of signature of the financial slalemenls We￿.. Mr N J Baker Mr A 8urrun Mr l D Edmondson Ms S M Hosking MBE M5 A Johnson Ms K Morris Mr U Mansoor Dr I Pickup Ms S A Robinson MrJGSage Ms M Sikorowska Page 8

LONDON YOUTH ROWING LIMITED TRUSTEES REPORT {CONTINUEOI FOR THE YEAR ENDED 31 MARCH 2024 Day lo day running ol the Charity is delegated to the Senior Management Team.. Pfogrammos D1￿ctor MsECoe Mr B Morgan Head of Operations and Coach Development Mr M Rostron Chief Executive Officer {CEO) Mr O Shephard Queen Elizabeth Olympic Park and AGlive Paddle Manager Mr O Tinnion Chief Opofating Officer Ms C Ward FinancA manager The Board reviews Ihe pay of the senior management team on an annual basis, typically timed lo leed into tho budgeting prO￿3S in the final quarter of each financial year. The process is led by the Chair, the Finance Committee and the CEO. who togelhèr review the perfomanc8 and responsibilities lor each member ol thè management team and carry out simple benchmarking to ensure pay is appropriale ralabve lo comparable roles in similar organis81ions. The recommendations for pay are also considered in the context of Ihe upcoming year's budget and lh8 slate of the employment market and general changes in pay levels. Thè Chalr works with othef m&mbei$ of the Finan¢8 Committee lo complete th8 sam8 pro¢es$ for the CEO. A recommendatson 18 made to the Board, who thon can dis¢uss and adopt or adjust any changes to Pay levèl$. Any changes 8greed by the Board ar& then carried forward into the budget and lh8 management team are notified ol th8 outcome. Rl8k Managemont The Trustees have a$sessed tho risks Ihat LYR faces and have developed an approach lo risk management that reflect8 Ils core activities, working with young people in sporting and wal6f-based aclivllie$, StallBrd Kan& Associate5 Ltd I'slallard Kane"), consullanls specialising in heallh. salety and risk mana9emenl, conduct annual reviews of risk policies and procedures and, in the role of Company Compatenl Pergon, are responsible for advice on overall strategies for health. safety and welfare within the Charlty Slallard Kane are also re$ponslble for providing Human Resource support and advlce lo the charity and are availabl8 lor both generic and specific issuos and advice. There Is a Salety Plan for each venue including indoor rowing c¢)mp81itions and overnighl stays reqvired al various races and regattas which foms a complete series of ri8k assessments for all ol tho aclivilie$ that LYR undertakes. Slallard Kane, the Trustees ar¢d LYR managément hav& developed procedures for LYR progT8mmes and activities. identifying potential risks, implementing procedures lo miligale thosè risks and establishing contingency plans lo address particular issue$ to minimise any impact on the Charity should a problem anse, This is part of 8 much larger a$$essmenl of the 'Risk Register, ft)r LYR ay a whole. which incorporates all areas of governance, opefalions and finanrA. Employees are required to opèrate in accordance with LYR'S policieg and procedu￿9 including ils Equal Opportunib'ej and the Safeguarding and Protection ol Young People Policy, devised with relerence lo British Rowing's guidelines. All Coaching staff are members ol British Rowing and adhere lo their coaching guidelines. LYR has appointed 8 laad trustee to oversee safeguarding and all trustees are provided with safeguarding training. Governan¢e and Dlvornlty During the year LYR has continued lo locus on maintaining the high standard of Governance we achieved when th8 charity achieved compliance with Tier 3 of the Code for Sports Governance at the end of March 2020. We recognise that 900d governane6 8UPPOrts LYR'S resiliencé as a small charity and will continue working with Sport Eng18nd and othèr experts to improve our knowledge and standard$ in this aiea, including a review of oui ongoing compliance with Ihe updated Code which began in April 2023. During the ye8r we recruited one additional Trusl8es-elecl to bring new skills and lo add greater diversity lo our board, to r6pla¢e the outgoing Trustees who reached the end of his lerm at the 2024 AGM. The Board currently has 18% elhni¢ minority iepresentalion and 45% female repfesentstion, bul we remain committed to working towards greater diversity on the Board. The Board and whole team at LYR remain delomined to improve our approach lo diversity and inclusion in all areas of the organisalion and in all our work. Marianna SikoTowska has taken on a role as lead trustee for Diversity and Inclusion and supported the Work of the management team to develop an updated Diversity and Inclusion Action Plan IDIAP} which is currenlly awaiting appfoval by Sport England. W8 look lojward lo implementing this plan in the coming years. Page 9

LONDON YOUTH ROWING LIMITED TRUSTEES REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 STATEMENT OF TRUSTEES. RESPONSIBILITIES The Iruslees Iwho are also thé directors of London Youth Rowing Limited for the PLrposes of company lawl are responsible lor preparing the Annual Report and the financial slalemenls in accordants wilh applicablè law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financjal Reporting Stsndard applicable in Ihe UK and Republic of118land" TO THE MEMBERS OF LONDON YOUTH ROWING LIMITED Company law requires the Iruslees lo preparè financial slalemenls for each financial year which give a true and fair view of thè state of affairs of ihe charitable company and of Ihe incoming resourcEs and application of resource5, including the income and oxp8ndilure, of ihe chanlable company for that period. In preparing thos8 financial stalem•nts. the trustees are Tequiied lo select suitable accounling policies and then apply Ihgm consistently.. observe the methods and principles in the Charity SORP., make judgements and eslimales that are reasonable and prtsdenl., sla18 whether applicable accounting standards have been followed. subject lo any malgrial departures disclosed and explained in the financial slalèments.. prepar8 the financial slalemen15 on the going concern ba6is unless it Is Inappropriate lo pr88ume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting rocolds which disclose with reasonabl8 accuracy 81 any time the financial position of Ihe charitable company and lo enable them lo ensure that the finan¢ia1 slalemenls comply with the Companies Act 2006. They arè also responsibl& for safeguarding the assets of the charilabla company and hon¢8 for taking reasonable steps for the pr8venlion and detection of fraud and other iiregularilies. In so far a$ the truslees are awafe.. there is no relèvant audit InfO￿allon ofwhich the charitabl8 company's auditors are unaw8re'. and thé trustees have taken all steps thal they ought to have taken lo make themselves aware of any relevant audit inlomalion and lo establish that the auditors are aware of that informats'on. These financial slalemenls have been preparèd In accordance with the provisions applicable lo charitable companies subject lo the small companies regime. AUDITORS The auditors, Cox Coslollo & Horne, will te PfOPOS8d for re-appointment al the forthcoming Annual Gen&ral Meeting. Report ol.. th Iruslèè$, approved by ordei of the b08rd of trustees, as the company directors, k.¥i.. and signed on the board's behalf by.. Mr l D Édmondson- Truslee Page 10

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF LONOON YOUTH ROWING LIMITED Oplnion We have audited th8 financial statements of London Youth Rowing Limited {Ihe 'charilable company.) fof the year ended 31 March 2024 which comprise the Slatem8nl of Financial Activities, the Slalement of Financial Posilion, the Statement of Cash Flows and notes lo the financial stalemenls, including a summary of significant accounting policies. The finanaal reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic ol Ireland. In our opinion the financ¢al statements.. give a true and fair view of the state of the eharitable company's affairs as al 31 March 2024 and ol its incoming resources and application of resources. including Ils income and exp8ndilure, for the year then ènded.. havo bèen properly preparod in aeeordanc• with United Kingdom Generally Accepted Accounting Praclice. including Financial Reporting Standard 102 'The Financial Reporting Standard appIl￿ble in the UK and Republic of Ireland and have been prepared in accor¢Jan¢e with the requirements of the Companies Act 2008. Basis for oplnlon W8 conducted our audit in accordance with International Sland8fd5 on Auditing IUKI IISAS (UK)) and applicable law. Our responsibililEs under those standards are further descTibed In the Auditors, responsibililies for the audit of the financial slalemenls section ol our report We are independent ol the charitable company in accordance with the ethical reqLtiremenls that are relevant to our audit of the financial statements in thè UK, including thé FRC'S Ethical Slandaid, and we hav& fulfilled our olhar èthical responsibililieg in ¥c￿rdanCe with these requirem8nts. We beli6v8 that the audit evidence w8 have obtsined is sufficient and aPPfopfi8te to provide a basi8 for our opinion, Conclu8lon8 relatlng to golng ¢on¢frrn In auditin9 Ihe finan¢i81 statemen15, we have concluded that tha trustees, use of the going concern basis of accounting in the preparation of the financial slalemenls is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating lo events or conditions that, individually or collècts'vely, may cast significant doubl on Ihe Chafilable company's ability to continue as a going concern for a penod of al188St Aelve months from when the financial statements are authorised for issue. Our responsibilities and th8 responsibilitie8 of the INStees with respect lo going concm are described in the relevant sections of this report, Othor Infomatlon The IfUSte88 ara responsibl8 for the other infonnalion. The other infom)o1ion cornprises the information included In tha Annual Report, other than the financial statements and our Report of th8 Independent Auditors Ihoreon. Our opinion on the financial 8tstemenl8 do88 not cover Ihe other infoimalion and, excepl lo the gxtenl othe￿iSe OXPliGilly slated in our feport, we do not express any fom ol assuiance conclusion Ih8reon. In connection with our audit of the financlal slatemenls, our responslbllity is lo read tha other information and, in doing so, consider whether the other infom81ion is matèrially inconsisl8nt wilh the financial slatemenls, or our knowled98 obl8ingd in the audit or othe￿15e 8ppear$ lo be m81orially misstalod. 11 we identify Such maleriol inconsislencigs or apparent Tnalerial misslalemenls, we are required to delemiine whether Ihi$ gives rise lo a material misstalemenl in the financial statements themselves. If, based on the work we have performed, we conclud8 that there is a material misstatement of this olhei information, we afe required lo report that lact. We have nothing to report in this regard. Oplnlons on othèrmattgrs prescrlbod by tho Companle8 Act 2006 In our opinion, based on the work undertaken in the course ol the audit.. the information given in the Trustees Report fof the financial year for which Ihe financial slalemenls are prepared is consistent with the financial statements.. and the Report ol the Trustees has been prepared in accordance with applirAble legal requirements. Matters on whlch we are requlrod to report by oxceptlon In Ihe light ol the knowledge and understsnding of th8 charitable company and ils environment oblained in the course of th& audit, we have not identified material misslatemenls in the Trustees Report. We h8ve nothing lo report in respect of the following matterg where the Companies Act 2006 requires us lo report to you il, in our opinion.. adequate accounting records have not been kept or feturns adequate for our audit have not been ￿ceiVed from branches nol visited by us.. or Page 11

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF LONDON YOUTH ROWING LIMITED the financial statements are not in agreement with the ac£ounting records and returns.. or certain disclosures of Iruslees, remuneration specified by law are not mado.. or we have not f￿1Ve￿ 811 the information and explanations we reqvire for our audit.. or the Iruslees were not enlilled to take advantage of the small companies exemption from Ihe ￿quIrement to p￿pare a Strategic Report or in preparing the Trustèe5 Report. Rgspon$lbllltlg8 of truste•s As explained more fvlly in the Slalemenl of Trust&8s' Responsibilities. the trustees {who are also th& directors ol th8 charitable company for the purposes of company lawl are responsible for the preparation of the financial slalemenls and for being satisfied that they give a true and laii view, and lor such inl6rnal control as the trustees delemine is necessary lo enable the preparation ol financial slalemenls that are free from material misslalemenl. whether due lo fraud or effor In preparing the financial slalemen15. the trustees are responsible lor assessing the charitable company's ability lo ¢onlinue as a going concern, disclosing, as applicable, matter$ related lo going concem and using the going concern basi5 of accounting unless the Iru$lee$ either intend lo liquidate Iho charitable company or to cease operations, or h8Vè no realistic allernalive bul lo do so. Our rosponslblllt108 lor the audlt of the flnanclol statemont6 Our obieclives are to obtain reasonable assurance about whethèr th8 financial slalemenls as a whole aTe free from material misstalemenl, wholher due lo fraud or error, and lo issue a Report ol the Ind8pendenl Auditors that includes our opinion. Reasonable assurance Is a high laval of assurance bul Is not a 9uaranie6 that an au(Jil conductsd In I￿Ordance with ISAS IUKI will alway5 delecl a m8lefial missialomenl when it exists. MIs51alemenls can arise from Iraud or error and ale Considered material if, individually or In the aggregate, they could reasonably be èxpected to influence Ihe economi¢ deci8ions of users taken on the basis of these fin8ncbal statements. The extent to which our procéduras are capable of detecting irregul8rilies. including fraud is detailed below.. We designed procedur&s in line with our responsibilities outllned above. lo del8cl malerial misslalemenls in respect of Irregularil18s, including fraud. Wè obtained an underslanding of tho legal and regulatory framèworks that the charity operates in, and identified the key laws and regulations Ihal.. had a direct effect on the dèlerminalion ol material amounts and disclosur88 in the financial stalemenls. These included the Chafily's constitution, tax legi$l81ion and Companies Act 2006,, and do not have a direct effect on the financial $lalemonl$ bul compliance with which may b8 fvndamentsl to th6 Ghar11y's ability lo opèrat8 or lo avoid a malenal penalty. These included the Charity Commission lor England and Wales (Charity Commission) regulations. Heallh and Safely Act. employment law, pensions legislation. Charities legislation and Child 5aleguarding. We identified areas of laws and regulations thal could re8sonably bo expected lo have a material effect on the financial slalgment5 from our. general commercial and sector exper￿nce, through verbal and writt•n communications with those charged with govemance and other management,. and via inspoclion of the Charitablè company's regulatory and legal correspondonce. We discussed with those charged with govèrnance and other management the policies and procedures regarding compliance with laws ancl regulations. We communicated identified laws and regulations lo our team and remained alert lo any indicators ol non-compliance Ihfoughoul the audit, we also specifically considered where and how fraud may occur within the Charitable company The potential effect of these laws and regulations on the financi81 statements vaiies considerabty. Fir311y. the Charitable company is subject lo laws and regulalitsn$ Ihal directly affect the financial slalements, including.. the company's con3lilulion, relevant financial reporting standards.. company law,, and tax legi51alion and we assess the exlenl ol compliance with these laws and regulations as part of our procedu￿5 on the related financial stalemenl items International Auditing Standards (UK) limit the required procedures lo identify non-compliance with these laws and regulations, and no procedures over and above Ihose already noted are required. These limited Pro￿dureS did not identify any actual or suspected non-compliance with laws and regulations th21 could have a material impact on the financial statements. Pago 12

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF LONDON YOUTH ROWING LIMITED In relation lo fraud. we perfom)ed the following speofic procedures in addition to those already noted.. Challenging assumptions made by managem8nl in its significant accounting 8s1imales", Identifying and lesling journal entries during the penod ano also up lo the point of signing the audit report, in particular any 8nlfies posted with unusual nominal ledger account combinations, journal enlries crediting cash or any revenue account, and journal entries posted by senior management., Performing analytical procedur&8 to identify unexpected movements in account bal8nc&s which may te indicative ol fraud,. and Ensuring that lesling undertaken on both the perfomance statement and the Balance Sheet includes a number of items selected on a iantJom basis. These procedures did not identify any actual or suspected fraudulent irregularity that could have a mal8rial impact on the financial stslern8nts. Owing lo the inhefenl limitations of an audit, there is an unavoidable risk that we may not have detected some material misslalemenls in th8 financial 51atemenls, even though we have pioperly planned and performed our audit in accordance with International Auditing Standards IUKI. For example, the further removed non-complian￿ with laws and regulations is from the evenl$ and Iiansaclions reflected in the financial slalemenls, the les8 likely the procedurès that wè 8Te required lo undertake would identify il. In addition, as wilh any audit. thefe remains a high risk ol non4eleclion of irregu13filies, as these might involve collusion. forgery, intentional omis$ion$, misrepresenlalion, or tho override of internal ￿ntrol$. We are not r88ponsibl& lor preventing non-compliance with laws and regltlalions or Iraud and cannot be expecled lo delecl non-compliantA with 811 laws and regulatsons or every incidence of liaud. A furthér descripiion of our responsibilities for the audit of the financial slalemenls 1$ located on the Financial Report￿ng Council's websile al www.fic,org uklauditorsresponsibiliti8s, This description forms part of our Report ol the Independent Auditors. U•• of our roport This report is made solely to th8 charitable company's members. as a body, in accordance with Chapter 3 of Part 16 01 the Companies Act 2006. Our audit worl( has be6n und8rt8kon so that W8 might stale lo the charitable company's members those matters we are requifed to $t8le to them in an auditors, report and for no other purpose. To the fullest exlenl permitted by law, we do not accept or assume responsibility lo anyone other than the charitabl8 company and the chafilable company's memb8rs as a body, lor our audit work, lor (hi8 report, or fof the opinions we h8ve formed. Mi¢hael F Co CA jsenior Slalutory Audilorl lor and on behalf ol Cox Cosle11o & Home Chartered A¢counlanls and Slalulory Audi1018 Batchworth Lock House 99 Church Sifeel, Rickmansworth WD3 1JJ Dale Page 13

LONDON YOUTH ROWING LIMITED STATEMENT OF FINANCIAL ACTIVITIES IINCLUDING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2024 Unrèstrlcted fund8 2024 Re8trl¢t8d funds 2024 Total Unr08trl¢ted R•$trl¢téd funds funds 2023 2023 Totsl Noles 2024 2023 In fr Donations 106,495 22.787 129.282 215,743 12,423 228,166 Charitable activi118S 146,019 834,704 980,723 217,571 890.345 1,107,916 Inter8$1 recéivablè Other income 4,127 6,088 4,127 6,088 1,527 20.700 1,527 20,700 Totsl Incorne 262 729 867 491 1120 220 902 768 13S8 309 onditur Raising Funds 47,821 47,821 62,603 82,603 Charilable activities 354.328 819,573 1,173.899 398,993 908,951 1,370,547 Not lexpondSturelllncome for the yèar 1139,4181 37,918 {101,5001 16,055) 16,1831 112,2381 Transleis (29,4441 29,444 Reconclllatlon of funds Fund balance5 al 1 April 2023 12 389,176 140 728 509 904 404 675 117,467 522,142 Fund balanc08 at 31 March 2024 229 758 178 646 408 404 369 176 140 728 509 904 The notes form part of these finan¢ial slalements Page 14

LONDON YOUTH ROWING LIMITED BALANCE SHEET 31 MARCH 2024 31.03.24 31.03.23 Notes FIXED ASSETS Tangible assets 104,033 105,071 Investments 104,034 105.072 CURRENT ASSETS Debtors Cash at bank 193,120 407,688 103,010 528,288 600,808 631,298 CREDITORS Amounts falling due within one y&ar 10 1296,438) 1277,1061 NET CURRENT ASSETS 304.370 404,192 TOTAL ASSETS LESS CURRENT LIABILITIES 408,404 509.904 NET ASSETS 408 404 509.904 FUNDS Unreslricled funds Reslricled lunds 12 229,758 369,176 140 728 TOTAL FUNOS 408,404 509 904 These financial statements have been prepared in accordance with the provisions applicable lo charitable companies subject lo the small companies regim8. lalements weré approved by the Board of Trustees and aulhorised lor issue on .2%)iy. and were signed on ils behalf by.. The financi Mr l D Edmondson- Trustee REGISTERED COMPANY NUM8ER. 06243293 (England and Wales) REGISTERED CHARITY NUMBER.. 1122941IEngland and Wales) The notes foim port of these financi81 statements Page 15

LONDON YOUTH ROWING LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 31.03.24 31.03.23 Note8 Cash flovA from operating activitlO8 Cash generated from operations 14 83 6141 109,046 Nel cash {us8d inyprovided by operating activities 83,6141 109,046 C#$h flows from investlng actlvltles Purchase ol tangiblè fixed assets Interest received 141,1131 177,3341 Nel cash used in investing activities 36,9861 75,8071 Change In cash and cash èqulvalènts In the raportlng period 1120,6001 33,239 Cash and Cash equivalents at the boglnnlng of the rèporting period 528,288 495,049 Cash and ca8h èqulval•nts •t thè •nd of the reportlng perlod 407 688 528.288 The notes fom part of these financial statements Pago 16

LONDON YOUTH ROWING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Basis of preparlng the financlal statfrments The financial slalements of the charilable company, which is a public benefit entity under FRS 102. have been prepared in accordance with the Chan118s SORP IFRS 1021 'Accounling and Reporting by Charities.. Statement ol Recommended Practice applicable lo charities pieparing their financial stslemenls in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 102} ieffective January 20221., Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ire13nd' and the Companies Act 2006. The financial slalemenls have b••n prepared under the historical cost convention. The charity has p￿sented its results as a standalone enbty rather than on a consolidated basis as al the balan¢• date Il only had one subsidiary undertaking, which was immaterial and not necessary for providing a true and fair view. The linancial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded lo the nearest £. Golng ¢oncern Al the lime of approving th8 financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources lo continue in operational exlslence for thè Iofeseeable fulure and at least one year from the da18 01 approval of the financial slalements. and no material uncertainties exist. Thus the Trustees continue lo adopt the going concern basis ol accounling in preparino the financial 51alornenls. Incorng All incom8 is recognised in the Incom6 and expenditure once the charity has enlillement lo the funds, il 1$ probable that the Income will be r8C•iV8d and thè amount can be measured reliably. Cash donations are recognised on receipt. Other donations afe recognised once the charity has be8n notified of the donation. unless performance conditions require deferral ol the amount. Income lax fecoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the lime of the donation. Donated professional sérvices and facilities are recognised as income when the charity has control over th8 Item, any conditions associated with the donated item have beèn mel, the recèipt of economic bènefil from the use by Ihe charity of the Item 18 probable and that economic benefit can bo measured reliably, In accordance with the Charities SORP IFRS 1021, the general volunteer time is not recognised. On receipt, donatèd professional sèNices and facilitie$ are recognised on the basis ol the value ol the gift lo the charity which is the amount the charity would have boen willing lo pay to obtain Services or facilities ol equivalent economic benefit on tha open maikal., a Cofresponding amount 1$ then recognised in expenditure in the poriod of receipt. Income from conlracls, government grants, and olh&r grants, whether ealegorised as 'capilal' or 'revenue.' Is recognized when the charity is entitled lo the funds, any perfoTmance Conditions attached lo the grants have been fulfilled. th¢ ￿ceIpt ol income is probable. and the amount can be rèliably measured wilhoul deferral. Income received In advance for a future fundraising event or lor a grant received relating to the following year are deferred sjnlil the crileria for income recognition are mel. ExpendltUTO Liabilities are recognised 85 expendilure as soon as thero is a legal or constructive obligation committing the charity lo that expenditure, il is probable that a transfer ol economic benefits will be required in sèttSemenl and the amount of the obligation can be measured reliably. ExpendiluTe is accounted foi on an accruals basis and has been dassified under headings that aggregate all cost related lo the category. Where costs cannot be directly attributed to particular fieadings, they have been allocaled lo activities on a basis consistent with the use of resources. Direct costs, including d1￿cl1Y attributable salaiies are allocated on an actual basis lo the $trale9ic areas ol activity. Grants made are conshlered lo be part of the costs of the a¢lNilies in furthgranc6 of the objects of th8 charities. Support costs are those costs incurred di￿¢11Y to support 6xpenditure on the objects ol the Charity and are allorAled lo activities on a eonsislenl basis. Govefnance costs include those cost5 associated with meeting the constitutional and slatulory requirements ol the Charity and are allocated lo activities on a consislenl basis. Page 17

LONDON YOUTH ROWING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES - contlnued Tangible fixed assets Tangible fixed assets are initia15y measured at cost ani) $ubsequ8ntly measured at Cost, nel ol depffjciaiion and any Impaimonl losse5. Plant and machinery 8oats - 5 years., Rowing machinès - 3 years.. Storage ￿nIOrnerS . 4 years Fixtures, fittings & equipment 3 years The gain or108$ arising from the disposal of an asset is determined as the difference be￿en the sale Pf¢)ceèds and the carrying value of the asset and is reoognised in income and expendilure. Taxatlon The charily is exempl from corporation tax on ils charitable activities. Fund aceountlng UnTeslricled funds can be used in a¢¢ord8nce with the charitable objèctives at the discretion of the Irusle8S. Reslri¢led lunds can only be used lor parti¢ular reslricled purposes wilhin the objecls ol the charity. Re$lnclion8 arise when specified by the donor or when funds are raised lor particular reslricled purposes. Further explanation of the nature and purpose of each lund is inctuded in the not•$ to th• financbal $tatemanl$. Pen81on costs and other po8t-retlrement bgngflts The charitable company operates a defined contribution pension schèmè. Conlribulion8 payable to the charitable company's pension scheme aré charged lo income and expenditure in the period to which they rel816. Finanelal Instruments Th8 Charity only enteis basic financial insliumenls Iransaclion8 that result in th8 recognit￿n of financial assets and liabilities like trade and other debtors and trade Cfedilors and olhei creditors. Financial assets and liabilities are offset. and the nel amount reported in the balance sheet when there is an enlorcoable right lo sel off thè recognised amounts and there is an intention lo settle on a net basis or lo realise tha asset and settle the liability simultaneously. Basic financial assets. including liadfj and othei debtors. are initially recognised at liansaction price, unlèss the arrangement conslilules a financing Iransaclion. where the Irans8clion is measured al the piesenl value of the lulure re￿Ipts discounted al a mafkel rate ol interest. Such assets are subsequently cairied at amortlsgd cost sing Ihe effective inleresl method, less any impairment. Cash and Cash equivalenls.. Cash and cash 8quivalenl$ a￿ represented by ¢8$h in hand, deposits held al call with financial inslilulions. and other short-lerm highly liquid investments that mature in no more ihan three monihs from Ihe dale ol acquisition and that are readily convertible to known amounlg ol cash with insignificant risk of changg in valu9. Basic financial liabilities, including trade and other creditors, are initially recognised al transaction price, unless the arrangement conslilules a financing Iransaclion, where the debt instrument is measured al the present value ol the future payments discounted al a market rate of inlere$l. Such Instruments are subsequently carried al amort15ed cost using the effective interest method. Inl6resl income.. Interest incomo is recognised in income and expenditure using the effoclive interest method. Flxed asset Inve$tmfjnts Investments in subsidiaries are carried al cosl less accumulated impaiment. Page 18 conlinuod...

LONDON YOUTH ROWING LIMITED NOTES TO THE FINANCIAL STATEMENTS - Gontinued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES- ¢ontlnu8d Flnanclal Instruments Employee ben•flt8 The cost ol any unused holiday enlitlemenl is recognised in the period in which th8 employee's servios are received, Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to lerminale the employment of an employee Of to providè lemiinalion benefits. Lea809 Rentals payable under operating leases. including any leas& incèntives received. oré charged as an expense on a slfaighl-line basis over Ihe term ol the relevanl18as&. Crltl¢al a¢countlng e$tlmatss and Judgements Eslimales and judgements are continually evaluated And are based on hi8tOftcal expefienee and other laclors, including expeclab'ons ol future events that are believed to be reasonable under the circumstances. The Charity makes eslimal85 and assumptions concerning the futur8. Th8 resulling arxounling 8s11mal8s and assumptions will. by definition, seldom equal the related actual results. No judgements (apart Irom those involving 6slimates} have been made in thè process ol applying the above accounting policies. The key assumptions concerning tha lulur8 and key sources of eslimalion ol uncertainty at the reporting dale Ihat have a significanl risk ol causing a material adjustment lo the cafrying amounts of assets and liabilities within the next financial year includ8'. èslimalion ol the usoful economic life ol plant and machinèry. fixtures, fittings and equipment, INCOME FROM CHARITABLE ACTIVITIES Cour8es and Fltne88 and 100 In¢ome health 31.03.24 Total 31.03.23 Total Core and events 52.610 2,913 55,523 79,736 Grants 925 200 925 200 1028 180 928113 980 723 1107916 Grants received, included in the above, are as loll¢)ws 31.03.24 31.03.23 Sport England London Borough of Islinglon London Borough ol Newham Other lincluding National Programmes} 139,743 75,000 2.244 708213 366,889 52.500 608.811 925,200 1,028,180 Page 19 continued...

LONDON YOUTH ROWING LIMITEQ NOTES TO THE FINANCIAL STATEMENTS- continuèd FOR THE YEAR ENDED 31 MARCH 2024 INCOME FROM CHARITABLE ACTIVITIES . continued Charitable income received, included in Ihe Statement of financial activilies for 31 March 2024 and 31 March 2023 is as foSlows'. Actlve Row Natlonal Talent London Prograrnmes In¢lusion (Outside London) Fundralsing Other Events Total 2024 Core and events Grants 46.S28 421011 1,292 155,950 7,703 55.523 925.200 257.093 91,146 467.539 157,242 257,093 7,703 91,146 980,723 Reslficled Unreslricled 388,511 79,028 155,950 1,292 257,093 33.150 834.704 146,019 7.703 467,539 157,242 257,093 7,703 91.146 980,723 Actlv• Row Natlonal London Programmgs IOul8lde London) Talent Fundral8lng Incluslon Events Oth•r Total 2023 Corè and events Grants 35,904 512,618 1,482 93 683 18,762 23.588 79,736 122,513 1028 180 299 366 548,522 95,165 299.366 18,762 146,101 1 107,916 Reslricled Unreslri¢ted 459,618 88.904 93,883 1.482 299,366 37,678 108.423 890,345 217 571 548 522 299 366 148 101 1 107916 Page 20 continued...

LONDON YOUTH ROWING LIMITED NOTES TO THE FINANCIAL STATEMENTS- corltlnued FOR THE YEAR ENDED 31 MARCH 2024 CHARITABLE ACTIVITIES COSTS Acllve Row Natlonal London Programme8 {Out8id• London) Talent Fundralslng Other Incluslon Events Total 2024 Dlrect Cost Depreciation Staff costs Social secunty Pensions Other costs Programme costs Advertising Fundraising costs 14,993 281.213 15,387 5.369 6,227 139,898 19,815 86,311 7,769 1,202 11,593 14,913 6,291 173,926 15.9C 3,479 3,498 62.823 1.691 115,182 10,251 2.368 58.329 4.224 5,067 21,509 42,790 703.303 54,952 13.165 79.661 221,858 12,824 46,671 5,639 747 14 7.757 26,312 463.087 141.803 265,923 87,140 218.621 1 176374 Govemancg co¥ts Wages Audit & Accounlancy Professional fees Trustees, expenses Confefences and meetin9S 25,036 7,141 4,328 1.051 25,036 7.141 4,328 1,051 Total 463.087 741603 265 923 87.140 263 967 1,221 720 Reslricled Unresliicted 384,617 78.470 135.117 265,923 33,917 87 140 230 050 819,574 402 146 463.087 141,603 285 923 87 140 263 967 1,221720 Pago 21 ¢ontinued...

LONDON YOUTH ROWING LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 CHARITABLE ACTIVITIES COSTS- continued Actlv• Row Natlonal London Programmes Ioutslde Londonl Talent Fundraislng Inclu8lon Ev•nts Other Total 2023 Dlrect Cost Depreciation Staff costs Social se¢urity Pensions Other costs Pfogramme costs Advert15ing Fundraising costs 15,173 321.359 27,526 5,261 42,973 84,421 313 11,559 52,349 6.519 1.246 8.130 15,971 1,202 201,399 18,834 3,599 26,713 52.477 1,253 1,850 185,930 15,936 3,045 29.036 57,041 21,616 8.373 29.784 773,346 72,437 13,843 116,143 228.163 31.327 62,603 12,309 3,622 892 9,291 18,253 8,145 54,230 497,026 95,774 305,477 106,542 322,827 1327646 Govornan¢o ¢08tg Wages Audit & Accountancy Prol8ssional fees Tfuslees, expenses Conferences and meetings 9.848 2,332 6,737 1.296 5,701 6,900 2,798 412 25,914 6,900 2,798 412 9,848 6.737 1,296 22,688 42,901 Total 506 874 312 214 107 838 345 516 1370 547 Reslricled Unresllicled 461,543 98,096 10 312.214 37,097 308 418 908.950 461597 107838 506 874 98,106 312,214 107,838 345,515 1,370,547 NET INCOMEIIEXPENDITURE) Nel incomellexpendilurel is slated 8fter ¢hargingllcredilingi', 31.03.24 31.03.23 Auditors. remun&rglion Auditors, remuneration for non-audil work Oeprecialion - owned assets Oihei operating leases 6,900 4,569 42,791 178.600 6,900 2.798 29.763 205.398 TRUSTEES. REMUNERATION AND BENEFITS There were no Iruslees. rgmuneralion or othei benefits Iof the year ended 31 March 2024 nor lor the year ended 31 March 2023 Tru8te•8' oxpen8e8 During the year, lolal travel expenses incurred by the Trustees amounted to £nil12023'. £601. Number of Irusieas Involved in tho reimbu￿8m6nt of expgnses nil12023.' 11 Page 22 conb"nued...

LONDON YOUTH ROWING LIMITED NOTES TO THE FINANCIAL STATEMENTS- contlnuod FOR THE YEAR ENDED 31 MARCH 2024 STAFF COSTS 31.03.24 31.03.23 Wages and salaries Social security costs Other pension costs 733,372 56.862 13.400 799.260 72,437 13,843 803.634 885,540 Amounts lotalling £71.96412023'. £126,849) ￿Presents total renumeralion paid to staff in relation lo fundraising aGlivllie$. The average monthly number of employees during the year was as follows.. 31.03.24 31.03.23 Man39ement Adminislralion Chafilablè activities - salaried Charitable aclivili88 - zero-houf8 13 18 16 37 31 The number of employee3 whose employee benefit$ (èxcludin9 employ8r pension coslsl exceeded £60,000 was.. 31.03.24 31.03.23 £70,001- £80,000 £80.001 - £90,000 Total remuneration for key management personnel during the year was £357,707 12023,. £372,454). Page 23 continued..

LONDON YOUTH ROWING LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnugd FOR THE YEAR ENDED 31 MARCH 2024 TANGIBLE FIXED ASSETS Fixtures and fitting5 Plant and machinery Tolals COST Al 1 April 2023 Addition8 Disposals 751.969 40,412 23,653 701 775,622 41.113 Al 31 March 2024 792,381 815,322 DEPRECIATION At 1 April 2023 Charge for year Eliminated on disposal 653,061 37,949 16,850 4,842 669.911 42,791 Al 31 March 2024 691010 20,279 711,289 NET BOOK VALUE Al 31 Mar¢h 2024 101,371 104 033 Al 31 March 2023 98.908 6,803 105711 FIXED ASSET INVESTMENTS Shares in group undertaking5 COST Al 1 Aprll 2023 and 31 March 2024 Ther8 wefe no investment assels outside the UK. During the 2022123 financial year, the charity acquired the share capital of limited company by the name of R&gatta London Limited foi ils nomin81 value ol £1. The lalesl published financial slalernenls as of 31 March 2024 show a loss of £71 and nel liabilitses of £71. The ¢ompany is incorpofaled in England and Wales and the regislefed addross is CIO Cox Costello & Horne, Balchworth Lock House, 99 Church Slrael, Rickmansworth, England, WD3 1 JJ. Page 24 ontinued...

LONDON YOUTH ROWING LIMITED NOTES TO THE FINANCIAL STATEMENTS . contlnuod FOR THE YEAR ENDED 31 MARCH 2024 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.03.24 31.03.23 Trade deblors Other deblofs Prepayments and accrued income 167,659 1,000 84,890 406 17.714 193,120 103.010 10. CREDITORS.. ANIOUNTS FALLING OUE WITHIN ONE YEAR 31.03.24 31.03.23 Trade ciedilors Oiher credito Accruals and deferred Income 27.286 1,918 267.234 34,335 18,867 173,904 296.438 227 106 DEFERRED INCOME 31.03.24 31.03.23 Balance as a11st April Amount released to income during the year Amount deferred In tho year 153,132 1153,1321 244.845 118.938 {118,9381 153 132 Balance a$ al 3151 March 244 845 153 132 Deferrad income represents funding recéived from the relevanl fvnderg are Sport England £56,044 (2023.. £nill, British Rowing £50.000 12023'.£15,000}, Henley Royal Regatta Charitable Trust £43,417 12023:£10.4171, Wellin9lon £14,583 12023.. £14,583). LB Islinglon £31,250 12023'.£31,2501, John McAvoy Foundation nil (2023.£25,0001. Worshipful Company of Vinlnefs Énil {2023.£10,416}, London Legacy Development Cofporalion £nil12023.'£10.0001 and Other £49,55112023'.£36,4651, Delerred income ¢ompfiS85 funds that relate lo projects or programmes to be exp8nded during the 2024-2025 financial year. 11. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows., 31.03.24 31.03.23 Within one yèar Bet￿8&n one and five years In more than five years 24,600 120,000 27,198 120,200 58 000 178,600 205,398 Page 25 contsnu8d...

LONDON YOUTH ROWING LIMITED NOTES TO THE FINANCIAL STATEMENTS- contlnugd FOR THE YEAR ENDED 31 MARCH 2024 12. MOVEMENT IN FUNDS ANALYSIS OF RESTRICTED FUNDS 8alan¢8 al IncomSng Outgolng 31.03.23 Resources Resources Balance 31.03.24 Funds Mossbourne Rowing Academy Allernalive Provisions "Set Up. Coach Development Active Row London Aclive Row Konl Active Row Leeds Active Row Nollingham Active Row Bristol Tackling Inactivity NJIRC Royal Docks Pfogramme Talent Inclusion Olhei 155,687 31,874 67.850 175,561 17.100 54,850 41,000 43,000 19,226 56,500 40,000 121,693 33,150 1146.0551 133,6561 169.7851 1143,2321 122.1991 161.1401 135.6571 116.1201 131,1061 161,5001 145,3381 {119,8671 33,918 9,632 1,782 1,935 32,329 11,9281 24,987 7.515 26,880 2,231 3,171 31,277 2,172 14,111 5,000 35,095 45.417 768 29,757 47,243 Total Movement In Re8trlctsd Fund• 140 728 857 491 819573 178 646 The Active Row Kent restricted fund Shows 8 deficit 01 £1,928 due to 8 liming differencè. ANALYSIS OF RESTRICTED FUNDS- COMPARATIVE Balance at 31.03.22 Incomln9 Re80urceB Outgolng R080ur¢e8 Tri Balance 31.03.23 Fund8 Mossbourne Rowing Academy Allernalive Provisions "Slep Up Coach Developm8nl Active Row London Active Row Kent Aclivg Row Leeds Active Row Nollingham Tackling Inactivity NJIRC Royal Docks Prograrnme Talent Inclusion Other 16,950 14,8121 168 6.348 S,S41 35.493 147,824 31,875 45,250 282,493 7,500 51,183 35,000 22,969 so.000 so,000 163,964 14710 1194,0181 125.2811 143.4831 1289.0411 19,8701 155,3991 132,828) 18,8581 145,0001 {58. 7551 1118.7771 29,244 1,782 1,935 200 3.171 31,277 2,172 14,111 5,000 35,095 45,417 768 43,250 230 14,298 Total Mov•mgnt In Rostrlcted Funds 117,466 908 950 902 768 L 140 728 TRANSFERS The charity has a number of projects Ihal are primarily funded by reslricled funds, however, the charity also Supports these projects through ulilising ils unrestricted funds. Transfer5 solely represent contributions from the harity's unreslric18d funds. Page 26 continued..

LONDON YOUTH ROWING LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 Mos8bourn• Rowlng Academy This fund is aimed al providing rowing aGtivibes and challenges lo childien based In stale schools in Hackney. The academy has particularly benefitted children from underrepresented backgrounds Alternative Provisions Funded by the Vint8rs' Company. this project rep￿Sen15 a tsvelve-week Pfogramme focused on helping children excluded from mainslieam education lo reinlegral6 into the system by instilling values such as self-conliol, aspiration and teamwork. "Step up" Co•¢h Dgvelopment - Funded by The Henley Royal Regatta Charitabk8 Trust, Ihls programm8 Is aimed al recruiting and developing coaches from diverse backgrounds to deliver charitable aims and aclivilies. A¢tlv• Row London - This programme is aimed al engaging children from a wide v8riely of backgrounds into rowing aclivilies and challenges. Actlvè Row Kont - Delivered In partnership with Gravesend RC, this programme provsdes rowing activities lo hildren In K&nl The Active Row Kent reslricled fund shows a deficit of £1.928 due lo a liming diffeience. Actlve Row Leed8 Launched with thè support of The Henley Royal Regatta Chanlable Trust and the Boat Raoe Fund, this programme provides rowing aclivili8s lo children based in L8eds. Bradford and Wakefield. Actlvo Row Nottlngham This programme is aimed at Pfoviding rowing a¢livilies lo children in Nottingharn with the support ol Concept 2, a leading rowing machine manufacluref and The Hénley Royal Regatta Charitable Trust. Actlvè Row Brl8tol Launched with the support of Henley Royal Regatta Charitable Trust and Brit18h Rowing. this programme provides rowing aclivili8s to children in 8ri5101. TAckllng In•¢tlvlty Through the yaar this programme has worked wilh the NELFT branch ol the NHS Io Pfovide opportunities for NHS mental health workers lo be active during their working day, locusing on healthcare Sèttings in Barking & Dagenham and Redbridge. Natlonal Junlor Indoor Rowlng Champlon8hlp8 INJIRC) - This programme is awned 8t providing Inclusive indoor rowing competition open lo young people across the UK Royal Dock$ Programrne Delivered in partnership with Royal Docks Trust and the Royal Albert Dock Trust. this programme offers rowing, sailing and canoeing opportunilies lo young people aged 11-14 on the Royal Docks Adventure silg. T•lont Inclu•lon This rowing PfO9fammè has benefitted ¢hildren, those particularly from ethnic minority backgrounds who comprise over 80W¢ ol the uptake. who gain th• opportunily lo build Ihoir skills in rowing with the aim of accessing lalenl development pathways run by British Rowing and olh&ts. 13. RELATEO PARTY DISCLOSURES Th8re were no related party transactions for the year ended 31 March 2024 or 31 March 2023 olher than key management compensation. Refer to note 6 lof lurther details. Page 27 continued...

LONDON YOUTH ROWING LIMITED NOTES TO THE FINANCIAL STATEMENTS- ¢ontlnued FOR THE YEAR ENDED 31 MARCH 2024 14. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES 31.03.24 31.03.23 Not Oxpgndlture for the reportlng porlod la8 per the Statement of Flnanclal ActlvitieBI Adjustments for: Depreciation charges Interest received Ilncfease)Idecrease in debtors Increasè in credilofs 1101,5001 (12.2381 42,791 14,1271 190.110} 69.332 29,784 {1,5271 29,238 63.789 Net cash lusod Inyprovldod by operatlons 83,6141 109.048 16. ANALYSIS OF NET ASSETS BETWEEN FUNDS R•Atrlcted Unr•strlct•d fund8 funds Total 2024 Re8trlcted fund8 Unreytrlcted fund8 Total 2023 Fund balances at 31 fvAar¢h 2024 are represeftled by Tangiblè assets Curreni assets Cuffent li8bililies 6,803 283,127 97.231 317,681 104,034 600,808 296 438 6,803 245.208 98,909 386,090 115823 105,712 631.298 178.646 229 758 408,404 140 728 369 176 609,904 Page 28 continu8d...

LONDON YOUTH ROWING LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 16. INCOME AND EXPENDITURE IN RELATION TO PUBLIC INVESTORS Sport England L8 18llngton L8 Newham Non.Publlc Investor Total 2024 Revenue Revenue grants Course lees Other Incomo 139,743 7S,000 2.244 713,377 15,196 174,660 930.364 15,196 174,660 Total Income 139743 903 233 1120 220 Expense• Programme staff cosls Pfogramme staff social security Programme staff pensions Other cosls Programme costs Fundraising Costs Depfecialion 132,266 9,430 2,343 12,8971 23.992 56.172 5,424 1,341 1.266 6.664 1.737 113 32 51 303 538,163 39.985 9.450 101,553 190.873 60.644 30,529 728,338 54,952 13,166 99,973 221.832 60.644 Total •xp¢ndlture 171610 971 197 1221 720 Not Incomelloxpendlturel for tho y•ar 17. INCOME ANO EXPENDITURE IN RELATION TO PUBLIC INVESTORS- COMPARATIVE Income and expendilufe in relation to public investors lor the year ended 31 March 2023. Sport England LB Isllngton Non-Publi¢ Invo¥tor Total 2023 Revenue Revenue grants CoLsrse lees Other income 366,869 52.500 608.810 22,183 307.947 1,028.179 22.183 307.948 Total Income 366 869 938 940 1358 309 Expen8e8 Programme staff costs Equipment hirelpur¢hase Hire of lacililies Promolionlpublicily Coaches fee51expenses Travelltransport Competilion costs Fundraising Costs Other costs Core ¢osts Depreciation 189,179 5,783 28,688 132 4.548 3,972 15,891 50.297 324 605,932 47,069 38,311 41.535 13,700 26,851 93.037 6,561 106.070 845.408 53,176 84,999 41.751 19.040 30,937 108,928 6.561 144,933 25.032 29.782 84 794 114 38,411 25,032 3,111 452 3.802 22 869 Total expondlture 312 745 1001935 1370 547 N•t Incom•l<•xp•ndltur•l for th• year The note above discloses the nel surpluslldeficill generated Irom the charity's public investors. the most prominent being Sport England and Lgntton Borough of Islinglon in the interest ol transparency lo these Iwo main bodies. Page 2g