Reglstered number: 07012582 Charity number: 1133063 WHITLINGHAM BOATHOUSES FOUNDATION LIMITED (A Company Limited by Guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
WHITLINGHAM BOATHOUSES FOUNDATION LIMITED (A Company Llmlted by Guaranlae) CONTENTS Page RoferenGe and Admlnlstratlvo Dètalls of thg Company, its Trustees and l$erS Trustoes. Report Indepondent Examlnorfs Report Statement of Flnanclal Activltles Balance Shoet Notes to the Flnanclal Ststements 10-21
WHITLINGHAM BOATHOUSES FOUNDATION LIMITED (A Company Llmlted by Guaranlge) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. rrs TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022 Tiustees CJHScott P J Steele ADRoss H F Mbddlelon D Barrell Company reglstered number 07012582 Charfty registered numbor 1133063 Reglstered office 7 Wainwright Clos9 Lowestoft England NR32 4WG Accountants Larking Gowen LLP Chartered Accountants 1st Floor, Prospect House Rouen Road Norwich NR1 1RE Page 1
WHITLINGHAM BOATHOUSES FOUNDATION LIMITED (A Company Llmltod by Guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 The Trustees present their annual re tje1her Iha finawal stslgments of the company for the year 1 January 2022 to 31 Decemb8r 2022. Th8 Annual Raport Satves the purposes of both a Trustees, report and a directors, report under company law. Tho Trustees confim Ihal the Annual Report and financial slalements of the charitable company comply with th8 curronl statutory requirements, the requirements of the charitable companls goveining document and the provisions of the Statement of Recornmended Practice ISORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicabl8 in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Since the company qualffies as small under tiOn 382 of the Companies Act 2006. th8 Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. Structure. governance and managernent a. Constltutlon Whillingham Boathouses Foundation Limited is registered as a charitable company limited by guarantee and was sel up by a Memorandum of Associat¥)n. The principal object of the company is lo advance amateur sport for Ihe public benefit and in particular water sports including rowin9 and canoeing by managin9 and assisling in the provision of facilities al Whillingham, Norwich b. Methods of appointrnent or electlon of Trnstees The management of the company is the responsibilty of the Truste8s who are elected and co-opted under the lefms of the Memorandum of Association. In addrtion. new members are provided with detailed informalion about the Charity and are encouraged lo read Charity CommissN)n and other newsletters designed to keep them abreast of their duties and responsibilities. c. Organlsatlonal structure and decision4naking policles The Trustee board currently comprises one representative drawn from each of the 5 founding clubs, namely. Norwich Rowng Club. Norwich Canoe Club. Universty of East Anglia Boat Club. NOl¢h School Boat Club and Norwich High School Rowng Club. The Truslees meet al least 3 times each year. The Trustees have established an Operabonal Management Committee. which meets lo oversee the day to day operations of the fa¢ility. 11 includes representation from each of the founding clubs. Objgctives and activities a. Pollcles and obje¢tlVgS In setting objectives and planning for aclivib"es. the Tru51ee5 have given due consideration to general guidance published by the Charity Commission ielaling lo public benef. including the guidance 'Public benelil.. running a charity {PB2I'. Pagè 2
WHITUNGHAM BOATHOUSES FOUNDATION LIMITED (A Company Llmltèd by Guarantee) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Objectlves and actlvltles (contlnued) The ini1181 objective of the charity was to devekw a new Commun boathouse for rowiThJ and cano8ing in Whillingham Country Park on land leased from the Whitlingham Charitable Trust. and this was achi8ved in August 2015. The focus has slnce moved to enhancing tha facility and maintaining th8 Srte for the b8nefit of thg community. The Trustees have adopted a rdnge of best PfdcIic8 wlicies tlUdIng water safety, child prol8Ction and vulnerable adults as promulgated by British Rowing. In addib.on and where applicahla, British Canoe Union policies have been 8dopted. b. Actlvltles for achlevlng obJectlve8 Whillingham Boathouses Found8lion {Registered Charity 11330631 was established to develop and maintain a community rowing and canoeing facil-rty in Whillingham Country Park lor the beneffl of Norfolk and Norwich. The founding dubs (Norwich Rowng Club, Norwich CarK)e Club. Universty of East Anglia Boat Club. Nofwich School Boat Club. and Norwich High School Rowing Club) joined fo8 under the banner of the "As One... Campaign" to raise funds to develop a new community bOathSe, thereby expanding the existing lacilitses adjacent lo the River Yare. During the fundraising phase (2009 to 2015) the Trustees approached a number of grant giving trusts and charities lo support the project. The focus has since moved to the operalion of the facilities. Achievement5 and perforniance Review of activities Phase 1 of the new boathouse dev8lopmènl was completed in May 2011= this (yjrnprised the shell and core of the building and ground floor storage for rowing boats and canoes. Phas8 2. the fit out of the first floor. was completed and opened lo users in August 2015. In 2022 Norwich Rowing Club held only one junior and three adult Leam2Row courses providing coaching lo 43 beginners with each course lasting up lo 3 months. Norwich Canoe Club held in excess of 14 leam to kayak courses in 2022 and hosted 6 schools for kayaking during term lirne. It also took part in the Festival of Sport al Holkham Hall, all of which led to 150 juniors and 36 adults experiencing kayaking during the year. The UEA Boat Club and all of the school boat clubs encouraged their students and pupils respectively to take up rowng. In 2011. the Iruste9S established the first disabl8d rowing and can(Eing facility in Norfolk wth the arrival of both adapb.ve canoes and rowing boats. They were able lo expand this fleet in 2012 with a joint grant from British Rowing and th8 Broads Authority Sustainable Developmer)l FurMI which enabled the launch of 2 quadruple sculling boats and 2 double sculling boats. These boats have been used for people of all ages and abilities as a stepping stone into wider rowing activity. The trustees have continued lo emphasise the safety aspects of both sw)rts both on and off the water. Following on from the eslablishtnenl of a defibrillator in 2013. the company has played a key role in working with its own users and the Bioads Authority lo enhance powefboat skills for wa¢h8s as well as working with other users lo coordinate river based activib"es. Page 3
WHITLINGHAM BOATHOUSES FOUNDATION UIqITED (A Clmnpany Llmlted by Guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 Objèctlves and activltles (continu) Thanks to the generosity of the )rWiCh North Apha LIONS Club and the TIK)mas Cook Children's Charity, the Iruslees were able to establish a bursary scheme for tIM)se from deprived communities to allow them to take part In rowing or canoeirKJ acttvibes regardless of th8ir means. There were no apPltiOnS for bursaries during the year. The financial focus continues to be on the operation of the facilthes and generating income. One training camp for Brits'sh Cano&ing and tsvo rong camps tfy)k place during the year. Flnanclal review a. Going concern After making appropriate enquiries, the Trustees have a reasonab expectation that the company has adequate resources lo continue in operational exislenoe for the foreseeable fubjre. For this reason, they continue lo adopt the going concem basis in preparing the financial statements. Further details regarding the adoption of the going concem basis can be found in the &counting policies. b. Rgsorves p¢llcy The charity ur)dertook sigr)ificant IrraisIng aclivtiies to finance the buikling of the new boathous8 al Whillingham. Al the 31 December 2022 the charity has unrestricted reservas of £978,501 12021. £1,016,129} and reslricled reserves of £16,800 {2021.' £31.3271. The charity has nel current liabilities, not represented by restricted funds of £12,462 {2021'. nel Current assets of £8.747}. The charity has no free reserves, being unreslricled funds exduding those represented by tangible fixed assets. All unrestricted reserves. less Ihosa sel aside for the adminislralion of the charity. are currently being appl*d lo the boathouse. The reserves policy is lo maintain reseryes sufficient for the operation of the charity and the ongoing fflainlgnance of the boathouse. The Iruslees reconsidered the reserves policy when the boalhousB construction was comple18d. The revised policy is lo relain a free reserves level of approximat81y 3 months ol operational expendilufe ar)d the trustees are working towards establishing this level of funding. Page 4
WHifuNGHAM BOATHOUSES FOUNDATION LIMITED IA Company Llrnited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR ThE YEAR ENDED 31 DECEMBER 2022 Statemont of Trusteès. responslbllltles The Trustees (who are also the directors of the company for the purposes of company lawl are responsible for preparing the Trustees, Report and the financial statements in accordance wilh applicable law and United Kingdom Accounting Standards (United Kingdom Generalty Accepted Accounting Practice). Company law requires the Tnjstees to prepare ffinancial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of tis incoming resources and application of resources, incILing ils income and expgndilure. for that period. In preparing these financrdl statements. the Trustees are required to.. select suitable accounting and then appty them con$k8tenl. obserye the methods and pr¢nciples of fhe Charibes SORP {FRS 102)., make judgments arKI accounting eslimatos that are reasonable and Pfudent., stale whether applicable UK AccountirKJ Standards {FRS 1021 have been followed, subject lo any mal8rial departures disclosed and eXplaiTd in the financial statements., prepare the financial statements on the g)ing coeM basis un18SS it is inappropriate lo presume that the company will continue in business. The Tmslees are responsible for keeping adequate accounting rordS that are sufficient lo show and explain the companls transactions and disclose hth reasonable accuracy at any time Ihe financial posltion of the company and enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding th8 assets of the company atKI hence lor taking reasonab19 steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by.. CJHScott Date.. Page 5
WHITUNGHAM BOATHOUSES FOUNDATION LIMITEO IA Company Llmlted by Guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER2022 Independent Examlnerfs Report to the Trustees of Whltlingham Boathous85 Foundation Limlted I'the compan) I rewrt to the charity Trustees on my examination of the accounts of the company for the year eryled 31 DecembBr 2022. Responsibllltles and Basls of Roport As the Trustees of the company land ils directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance the requiraments of the Companies Act 2006 {'Ihe 2006 Acl,). Having satisfied myself that the accounts of the company are not required to audited under Part 16 of the 2006 Acl and are e1ible for independent examination. I report in respect of my examination of the companls accounts carried out under section 145 of the Charities Act 2011 {'Ihe 2011 Acl'l- In carrying out my examination I have followed the Directions given by the Charty Commission und8r seclion 14515llbl of the 2011 Act. Independent Examinar's Statemenl I have completed my examination. I confirm that no matters have o)me lo my attention in connaclion with the examination giving me cause lo believe.. accounting record5 were rt kept in resp8ct of the company as required by section 386 of the 2006 Act,. the accounts do not accord wth those records: or the accounts do not compty with the accounting requirements of section 396 of the 2006 Act other than any requirement Ihal the accounts give a 'true aThJ fai¢ view which is not a matter considered as part of an independent examinalion.. OF the accounts have not been prepared in accordance with the methods and principles of the Siat9menl of Recommended Practice for accounting and reporting by charities lapplicab19 to charities preparing their a¢counls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 10211. I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. This report is made solely lo the companls Trustees. as a body, in aOrdanCe with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might stsle lo thè compan5ls Trusl8es those matters l am reqUId to stale lo them in an Independent Examiner's Report and for no other purpose. To the fullest exlenl permiited by law. I do not accept or assume responsibility lo anyone other than the company and the comp8nls Trustees as a body. for my work or for this report. Signed.. Dated.. Christopher Yeales FCA DChA Larking Gowen LLP Chartered Accounianls Norwich Page 6
WHITUNGHAM BOATHOUSES FOUNDATION UMITED IA Company Llmlted by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDrruRE ACCOUNTI FOR THE YEAR ENDED 31 DECEMBER 2022 Rgstrtcted Unrestrlctod funds funds 2022 2022 Total funds 2022 Total funds 2021 Note Income from: Donations and legacies Charitable activits'es Investments 50 50 80.435 2,060 61,254 80,435 Total Income 80,491 80,491 63,318 Expendlture on: Charitable activities 132.646 132,646 103.268 Total expèndlture 132,646 132.646 103,268 Net expendituro Transfers belween fundg 152.155) 14,527 {52.155) (39.950) 13 114.52n Net move*ment In funds (14,5271 137,628} 152,1551 (39,950) Reconclllatlon of funds: Total funds brought forward Nel movement in funds 31,32T 114.527) 1,016,129 137.6281 1,047,456 152.1551 I,OB7,406 (39.950) Total funds carrled forward 16.800 978.501 995,301 1,047,456 The Statement of Financial Activitie5 includes all gains and losses recognised in the year. The notes on pages 10 to 21 forni part of these finawal statements. Page 7
WHITLINGHAM BOATHOUSES FOUNDATION LIMITED (A Company Llrnltod by Guarantee) REGISTERED NUhlBER: 07012582 BALANCE SHEET AS AT 31 DECEMBER 2022 2022 2021 Nole Flxed assets Tangible assBts Current assots 1.019.708 1,046,842 Debtors Cash al bank and in harKI 10 34.349 36,087 20.197 64.804 70.436 85,001 Creditors.. amounts falling due 1th1n one year 11 {66,0981 (44,927) Net Gurrent assets 4,338 40,OT4 Total a55ets less current Ilabllltles 1.024.046 1,086,916 Creditors.. amounts falling du8 after more than one year 12 {28.745) (39.460J Totsl net assets 995,301 1,047.456 Charlty funds ReslrKted funds Unreslricled funds 13 16,800 978,501 31,327 1.016. 129 13 Total funds 995,301 7,047,456 Page 8
wHLINGHAm BOATHOUSES FOUNDATION LIMITED (A Company Llmfted by Guarantee) REGISTERED NUMBER: 07012582 BALANCE SHEEf (CONTINUED) AS AT31 DECEMBER 2022 The company was entitled to exemptlon from audit under section 477 of the Companies Act 2006. The members have not reguld the company to obtsin an audit for Ihe year In question in accordance with section 476 of Companies Act 2006. The Trustees acKn08dge Iheir rosponsibilities for COmpj with the requiremenls of the Act with respect lo accounting records and preparation of financk21 statements. The financial slalements have been prepared in accordance with provisions applicable lo entle8 subject lo tha small companies regime. The finanal statements were approved and authorised for is8ue bythe Trustees and signed on their behalf by.. -. 4 gi.-C:.-ta CJHScott The notes on pages 10 10 21 form part of these financial statements. Page 9
WHITUNGHAM BOATHOUSES FOVNOATION UMITED (A Company Llmlted by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Ggnwal Infommtlon Whitlingham BoallM)USgs Foundalion Limited is a charttable company limited by guarantee, charity number 1133063 and company number 07012582. The register office is 7 Wainwright Close. Lowestoft, Norfolk. NR32 4WG. Accounting pollclos 2.1 Basls of proparatlon of financlal statements The financial statements have been prepared in accordance with the Charitses SORP IFRS 1021- Accounting and Reporknng by Charities: Statement of Recomm8nded Practi applicable lo charities preparing their accounts irb accordarKe the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) lefleclive 1 January 2019}. the Financial Reporting Standard applKable in the UK and Republ of Ireland (FRS 102) and the C¢panIeS Act 20(. Whillingham 8oalhouses FoUndatn Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al histor1 cost or transaction value unless olher4vise staled in the relevant a¢¢ounting polry. The financial statements are presented in sterling. which is the functional curr8ncy of the Company, and rounded to the nearest £. 2.2 Golng concern The Iruslees have consbjered the charitls posttion at th8 time of sKJning the financial statements. The trustees have prepared budgets and forecas(s through to August 2024 which indicate the charity will have sufficient funds lo meet ils liabilities as they fall due. The trustees have also consid8red the financial resources available lo the charity, and ability lo raise additional funds through raising setvlce charges or reduce costs should Ihis required. Based on Ihis, the Iruslees have concluded that they have a reasonable expectation that the charity will have adequate resources lo continue in operational existen¢e for the foreseeable lulure, and al least e1ve months from Ihe dale of signing these financial slalements. They therefore continue lo adopt the going concern basis of accounting in preparing these financrdl slalemenls. 2.3 Fund accounting General funds are unrestricted funds which are available for use al the dis¢tIOn of the Trustees in furtherance ol the general obje¢lives of the company and which hav8 not been designated lor other purposes. Resiricled funds are funds which are lo be used in accordance wlh specific reslriclions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fLJnd. The aim and use of each reslricled fund is s81 out in the notes to the financial statements. Investment income. gains and losses are allocated lo the appropriate fund. Page 10
WHITUNGHAM BOATHOUSES FOUNDATION UMITED (A Company Llmfted by Guarantee) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlng pollGles Icontinuedl 2.4 Income All incom8 is recognised once the company has entiuement to the income. il is probable that the income will be received and the amount of income receNable can i measured reliabty. Income tax recoverable in relation to investment incorne is recognised al the time the investment income is receivable. 2.5 Expenditure Expenditure is recognised once there is a legal or consIntive obligation to transfer economic benefit to a third paty, il is probable that a transfer of ecO[KTrm benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by aclivty. Th8 Costs of each activity are made up of the total of direct costs and shared costs. including support costs involved in undertaking each actmty. Diiect costs attributable to a single aclimty are allocated directly lo that activity. Shared costs which contribute lo more than one acb.wty aThJ support costs which are not attributable to a single activity are apportr>ned beeen those activities on a basis consistent with the use of resources. Central staff costs a allocated on the basis of bm8 sp&nl, and depreciation charges allocated on the portion of the asset's use. Expendrture on charitable activities is incurred on directy und8rtaking the activities which further the companys objectives. as well as any associated support cosis. All expendifvia is inclusive of irrecoverable VAT. 2.6 Interest recelvable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company., this is nomially upon notification of the inl8resl paid or paable by the institution with whom the funds are deposited. 2.7 Tanglble fixed assets and depreclatlon Tangible fixed assets costing £500 or more are capilalBe(J and recognised when future economlc benefils are probable and the Cost or value of the asset be measured reliably. Tangible fixed assets are initialty recognised al cost. After recognition. under th8 cost model, tangible fixed assets are measured al cost less a¢cumulaled depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should b8 included in the measurement of cost. Depreciation is charged so as lo allwate the cosl of tsngible fixed assets less their residual value over their eslimaled useful Iwes. Depreciation is provided on the followng bases= Long-term leasehold property Equipment 2.10 slraighl line 10 10 slraighl line Page11
WHfTLINGHAM BOATHOUSES FOUNDATION LIMITED (A Company Llmlted by Guaranteè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEP4lBER 2022 Accountlng FboliGles {Gontinued) 2.8 Dabtors Trad8 and other debtors are recognise(l al the settl8menl amount after any trdde di5courit offered. Prepaymènts are valued at the amount prepaid net of any trade discounts due. 2.9 Cash at bank and In hand Cash at bank ar in hand indudes cash and sh)rt-term highly IKiuid investments with a short maturity of three months or less from the dale of wuisikn or opening of the deposit or similar account. 2.10 Uabllitles and provisions Liabilities are recognised vthen there is an oLligation al the Bance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in setdemenl, and the amount of the settlement can be estimated reliably. Liabilities are recognised al the amount that the rnpanY anbcipales il will pay lo settle the debt or the amount il has received as advanced payments for the goods or services it must provide. Provisions are measured al Ihe best estimate of the amounis required lo settle the obligation. Where the eff1 of the lim8 value of Money is material. the pr(Msion is based on the present value of those amounts, discounted al the pre-tax discoijnl rale that reflects the risks specrfic to the liability. The unwnding of the discount is recognised ir¢ the Statement of Financial Acliwligs as a finance cost. Incomg from donations and legacles Unrestrlctgd funds 2022 Total funds 2022 Donations 50 50 Unrestricted funds 2021 Tot81 funds 2021 Donations 2,060 2.060 Page 12
WHITLINGHAIIJ BOATHOUSES FOUNDATION LIMITED IA Company Llmfted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2022 Income from charltablo aGtfvftles Unrestricted funds 2022 Total funds 2022 Servic8 charges. kitchen inwme and facililies hire 80.435 80,435 Unrestrict8d funds 2021 Total fvnds 2021 Sgrvice charges. kitchen income and facilities hire 61,254 61.254 Analysls of expenditure on charltable actlvltles Summary byfvnd type Unrestricted funds 2022 Total 2022 Boathouse operating costs 132,646 132.646 Restricted Unrestriclgd funds funds 2021 2021 Tolal 2027 8oalhouse operating costs Bursaries 102,836 102,836 432 432 432 102,836 103.268 Page 13
WHITUNGHAM BOATHOUSES FOUNDATION LIMITED {A Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Analysis of oxpendltur¢ by actlvmles ArtMtle$ undertaken directly 2022 Support osts 2022 Total funds 2022 Boathouse operatin9 costs 117.140 15.506 132,646 Activities undertaken dir8CtIy 2021 Support costs Tolal funds 2021 2021 Boathouse operating costs Bursarie8 89.257 432 13.579 102,836 432 89,689 13,579 103.268 Analysls of diract costs Boathouse project 2022 Total funds 2022 Bursaries 2022 Rent 7.500 7.063 27,134 73.293 2,150 7,SOO 7.063 27,134 73,293 2,150 Legal and professional Depreciation Operaling costs Governance costs 117.140 117.140 Page 14
WHITUNGHAM BOATHOUSES FOUNDATION UMITED (A Company Llrnitgd by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Analysls of expendlture by activltles (contlnugd) Analysls of dlreGt Gosts {contlnu¢d) Boathouse projecr 2021 Total lunds 2021 Bursaries 2021 Rent Legal and professional Depreciation Bursaries Operatin9 costs Governance costs 5.518 6,060 28.909 5,518 6,060 28,909 432 46.820 1,950 432 46,820 1,950 89,257 432 89,689 Analysls of 5UPPOrt costs Boathouse project 2022 Total funds 2022 Administration Insurance 2.793 9,821 2.892 2.793 9,821 2.892 Finance costs 15.506 15.506 Boalhouse project 2021 Total funds 2027 Administration Insurance Finance costs 688 9,346 3.545 685 9.346 3,545 13,579 13,579 Page 15
WHITLINGHAM BOATHOUSES FOUNDATION LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Independent examlns remuneratlon The independent examinerfs remuneration amounts to an iNJependgnl 8xaminer fee of £2,150 12021- £1,950). Trustees. remuneration and expenses During the year, rN) Trustees received any remuneration or other benefits (2021- £NILJ. During the year ended 31 December 2022. no Trustee exnseS have ten incurred (2021- £NIL). Tanglble fixed assets Long4emi l•asehold property Plant and machlnery Total Cost Al 1 January 2022 1,278.235 43.073 1,321.308 At 31 De¢emb8r 2022 1,278.235 43,073 1,321,308 Depreciation At 1 January 2022 Charge for the year 236.301 25.565 38.165 1,569 274,466 27,134 Al 31 December 2022 261.866 39.734 301,600 Net book value Al 31 December 2022 1,016,369 3,339 1,019,708 Al 33 December 2021 1,041,934 4,908 1,046,842 10. Debtors 2022 2021 Due wlthin one year Trade debtors 34,349 20,197 Page 16
WHrrLINGHAM BOATHOUSES FOUNDATION LIMITED IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 11. Creditors: Amounts falling due wlthln one year 2022 2021 Bank loans Other taxation and social security Accfuaks and deferred income 10,642 11,256 44.200 9,923 6.615 28.389 66,098 44,927 Bank loans due wilhlfl one year relate to the capilal repayTnents lo be made over the course of the next year. Interest lolalling £2.89212021= £3.5451 was charged to the charitabl8 company during the year. 2022 2021 Deferred income Deferred income al 1 January 2022 Resources deferred during the year Amounts released from previous perK)ds 23,637 34.696 123,6371 22.868 23,637 (22,868) 34,696 23,637 Deferred income relates to annual seNice charges received in advance in relation to the 2023124 pgriod. 12. Creditors: Amounts falllng due after rnore than one year 2022 2021 Bank loans 28,745 39,460 The bank loan from The Charity Bank Limited is secured by a fixed char9e over th81oasehold property. Bank loans due in more than one year relate lo capital repayrnenls lo be made on the loan. Interest lo be charged on the balance due in tnore than one year amounts lo £2.402 (2021.. £4.575). Page 17
WHITLINGHAM BOATHOUSES FOUNDATION LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEfvIENTS FOR THE YEAR ENDED 31 DECEMBER 2022 13. Statement of fund$ Statement of funds - ¢urrent year Balance at 31 December 2022 Balance at I January 2022 Transfers Inlout Income Expondlture Unre$trlcted funds General Funds - all funds 1.016.129 80,491 (132.646} 14,527 978,501 Restrlcted funds Coaching 80315 & Equipment Boathous8 Bursaryfund Disabilty hjnd 3,980 11.039 3,980 (11.039) 13.4881 4,820 8.000 4,820 8,000 31.327 {14,5271 16.800 Total of funds 1.047.456 80,491 {132.646> 995,301 Page 18
WHITLINGHAM BOATHOUSES FOUNDATION LIMrrED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2022 13. Statement of funds Icontlnued) statemont of funds - prfor year Balance at 31 Decembe 2021 Balance al l J8nuary 2021 Income Expenditure Unrestricted funds General Funds- all funds 1.055,647 63,318 (102,836) 1,016, 129 Rostricted funds Coaching Boats & Equipment Boathouse Bursary fund Disability fund 3.980 11.039 3.488 5,252 8.000 3.980 17,039 3.488 4,820 8,000 (432) 31.759 (432) 3t,327 Total of funds 1.087,406 63.318 (103.268) 1.047,455 The coaching fund is to assist wlh coaching costs associated wlh the 'Explore Rowing. programme. The boats and equipment furhd is lo finance the purchase of tW boats and equipment. No reslriclion has been placed on the fulufe use of the equipment so transfers are made lo general funds as the equipment is purchased. Grants have been received lowards the building of the new boalhouse_ No reslriclion has been placed on the future use of the boathouse. hence they are transferred lo unrestricted once spent. The bursary fund is to 'sponso¢ the costs of young people either in training or lo help them with subscription costs. The disability fund is to provide increased access for the disabled and help Ihose with learning difficulties. Transfers during the year are in relation to restricled funds that had been fully spent in previous years. Page 19
WHITUNGHAM BOATHOUSES FOUNDATION UMITED (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 14. Analysls of net assets botwggn fund5 Analysls of net assets betweon funds - current year Restricted Unrestrlcted funds funds 2022 2022 Total funds 2022 Tangible fixed assets Current assets Creditors due within one year Creditrjrs due in more than one year 1,019.708 53,636 166,0981 128.7451 1.019,708 70,436 (66,0981 (28.7451 16.8C Total 16,800 978.501 995,301 Analysls of net assets between ndS - prlor year Reslricled Unresfricted funds funds 2021 2021 Total funds 2021 Tangible fixed assets Current assets 1,046.842 53,674 (44.927) (39,460) 1,046,842 85,001 (44,927) f39.460J 31,327 Creditors due within one year Creditors due in more than one year Total 31.327 1,016, 129 1,047,456 15. Operating Igasg commitments Al 31 December 2022 the company had commitments lo make future minimum lease payfflenls undor norkcancellable operating leases as lolk)ws= 2022 2021 Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years 7,500 37,500 442.500 7.500 37,500 450,000 487,500 495,000 Pagè 20
WHITUNGHAM BOATHOUSES FOUNDATION LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 16. Related party transactlons The company has not entered Nito any related party transaction during the year. rr are there any outstanding balaTrs owng between related parties and the MpanY at 31 December 2022. Page 21