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 PL*rposes 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 conc*m 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.
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