Rogist8rnd numbor: 07012582 Charlty numbor: 1133063 WHITLINGHAM BOATHOUSES FOUNDATION LIMITED (A Company Limited by Guarantee UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
WHITLINGHAM BOATHOUSES FOUNDATION UMITED (A Company Llmltad by Guar1¢0) CONTENTS Pa Rafgrnnco and Adminislrativo Detalls of th Company. tts Trust•o$ and AdvIrS Tru$t•os' Report Indop•nd•nt Examin8rfs R8POrt Statsmonl of Flnanclal ActivltO•s Balan Shoot NotOS to tho Flnanclal Staloments 10-21
WHITUNGHAM BOATHOUSES FOUNDATION LIMITEO IA Comparby Llmlt•d by Guarants•) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees CJHScott P J Steele ADRoss H F Middl8ton D Barrell {resiqned 8 May 2024) D C Conway (appointed 8 May 2024) Company roglslered number 07012582 Charlty rggl$ter•d numbgr 1133063 R•gl$tsr•d offi 7 WainwTighl Close Lowesloft England NR32 4WG Accountants LarkSng Gowen LLP Chartered Accountants 1st Floor. Prospect House Rouen Road Norwich NR1 1RE Page 1
WHITUNGHAM BOATHOUSES FOUNDATION UMITED IA Company Llmfted by Guarnnts?) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees present their annual reFQrt together with the finarKial statements of tho company for th8 1 January 2023 to 31 December 2023. The Annual Report serves the purposes of both a Trusts8s' report and a directors, report urKJer company law. The Trustees confimi that the Annual Report and financial statemenls of the charitable company comply wth the current statutory requirements. the Tequifemenls of the charitablo companls governing documenl and prOV10n$ of the Stst8menl of Recommended Practi ISORPI applicable to ¢hariti8s praparing thgir accounts in accordance with the FinarKial Rekxjrting Standard applicable in the UK and Republic of Ireland IFRS1021 leffeclive 1 January 2019). Since the company qualffies as small urbder Slion 382 of the Companies Act 26, the Strategic Report required of medium arml large companies uTrJer the Companies Act 21Y)6 (Strategic Report arnl DiroGIoTS' Report) Regulations 2013 has been omitted. structur• governance and manag•m•nt a. Con$titutlon WhiUiThJham Boathouses Fwndalim Limtted is registered as a charitable company limited by guarantee and wa5 Set up by a Memorandum of Assocration. The princApal object of the company is trj advan amatour srKJrt ft)r the pull bènefft and In partilaT water sports inclLMJing rowing and canoeing by ManIng and assisting in Ihe provi5Kn of facli ilies at Whitlingham. Norwich b. Methods of appointment or election of TThstees The managoment of the company is the resp)nsillty of the Twslees who are elèctsd and c£Fopt8d under the lemis of the Memorandum of Assockation. In addln, new members are PrOed with detailed information about the Charity and are encouraged lo read Charity Commiss and othgr newsletters des3r1ed lo keep them abreast of Ih¢ir duties and re5pon5ibll"es. . Organlsatlonal structure and decls•on4naklng pollclgs The Trustee board currentty compiises one represenlativg drawn from each of the 5 foundir¥J clubs. namely, Norwich Rowing Club. Noiw¢h Canoe Club, University of East Anglia Boat Club. Norwich School Boat Club and Norwich High Sch1 RowrwJ Club. The Trust meet at least 3 times each yEar. The Trustees have eslablish8d an Operational Mantyement Committee, which mo9ts to oversee the day lo day operations of the facility.11 indude5 repre5enlation from each of the founding clubs. Objectives and activities . Pollclgs and obJo¢tlves In setting objectives and planning for actNities. the Trustees have given due Consideration lo general guidance published by the Charity CoMmissn relaliry to public tenefil. including the guidan(*'Publi¢ benefit: running a charity IPB21'. Page 2
WHITUNGHAM BOATHOUSES FOUNDATION LIMITED IA Company Limit•d by Guarnnts•) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 ObCtIVeS and actlvltles (contlnued) The initial objective of th8 charity was to develop a ngw commurmty boa1uSe for rowirwJ and n0¢Ing in Whitlingham Country Park on land leased from the Whiuingham Charitable Twsl. and this was 8¢hievd in A¥Jgusl 2015. The focus has since moved to enhancing the l[lY maintainirwj the site for the benefit of the communty. Tho Truslees have adopted a rarwJe ot best WaCti polKaes Iuding vrdler safety, child protaction and vulnerable adults as pr0Muated by Bribsh Rorg. In addthon and where applicable. British Canog Union policies have been 8dopled. b. Activities for achlevlng obJectlv•s Whitlingham Boathouses Foundation (Registerj Charity 1133} was establk%hed to dovglop and maintain a community rowing and canoeiThJ facilty in WhitliThJharn Country Park for the benefit of Norfolk and Norwich. The founding club5 (Nomch Rowiry Club, Nowch Carw)e Club. UnNersty of East Anglia Boat Club, Nowch School Boat Club. arxj NoThlch High Sc*ool Rowng Clubl J(m lorces under the banner of the 'As One... Campaign" lo raise funds lo develop a new community boathouse. thereby expandirvJ th8 existing facilities adlacenl to the Rfver Yare. During the fundraising phase 12Crf)9 to 20151 the Trustees approached a number of grant giving twsts and charities to support the project The fo(yJ5 has since moved to the oper811)n of the fadlities. A¢hl•vements and porfornianco a. Rovlow of actlvltles Phase l of the new boathouse development was completed in May 2011: thi% comprised the shell and core of the buitding and grou1 floor storage for r(wTh) tM)ats and canoes. Phase 2. the fil out of th8 first Ilcor. was c4Jmpleted and opened to users i) August 2015. In 2023 Norwich RowrKJ Club h&kl fr junK)r and three ad1 Leam2Row courses providirg waching to 64 beginners with each course laskn.ng up to 3 rnonths. Norwich Canoe Club held 18 Learn lo Kayak courses in 2023 and h(6ted 8 schools for kayaking.11 also trxjk part in the Festival of Sport at Holkh8m Hall. Ihr8e feles. the Forum in Norwich and the Roydl Norfolk Show to promola kayaking to all ages. Thè UEA Boat Club the school boat dubs encouraged their students and pupils rgspg¢tivgly lo take up rowng. East Anglia Youth RowirKJ. a charty whh Intr18$ children al Slate schools lo roing, started to opetale on the sile in the summer of 2023. In 2011. the trustees establi%hed the first disabled rowing and Canng facility in Norfdk wlh the arrival of both adaptive canoes and rowiTrJ boats. They were able lo expand this fleet in 2012 wth a joint grant from British Rowing and the Broads Authorty Sustainable Development Fund whh enabled the launch of 2 quadrup sculling boats and 2 double sculling boats. Thw boats have been ed for Peop of all ages ar abililias as a sleppirwJ stone into wider rowing activity. The Iruslees have continued to emphasise safety aspects of both sports both on arKI off the water. FollowirffJ on from the establishment of a defibrillator in 2013. the company has played a key role in working wth ils own users and the Broads Authority lo enharKe powerboat skills for coaches as well as working with other users 10 coordinate rNer based a¢bvities. Pag8 3
YHITLINGHAM BOATHOUSES FOUNDATION LIMITED IA Company LIMIt by Guarantgo) TRUSTEES. REPORT {CONTtNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Objoctlves and actlvltlas (contlnugd) Thanks lo the generosty of the Norwich North Alpha LIONS Club the Thomas Cwk Children's Charty, the Iruslees were able lo establish a bursary scheme for those from depriv c0mrnuneS lo allow Ih&m lo tske part in rowing or canoeing aCteS regardless of their means. Th8re rw) applicath)n$ for bursaries during the year. The financial focus continues to be on the oPeran of the facililie5 and generaliThJ inrne. One trairbing camp for British CanoeiThJ and four rovAr4J camps took pi4ce during the year. Flnanclal revl•w a. Golng concom After making appropriate en(wiries. the Trustees have a reasonable eXptIOn that the company has adequate resources to continue in operational existen for the foreseeablè future. Fof this reason, they continue lo adopt the going conrn basis in preparing the financial statements. Further dtrtails regarding the adoption of the going concam basis can b8 found in th8 acc(NJntirKJ pol&s. b. Reser¥e$ poll¢y The charity undertook sNJnificant fur¥JraIng activities lo finance tha building of the new boathouse at Whiuingham. Al the 31 December 2023 the charity has unrestricted reserves 01 £968,58612022.. £978,501) and r8Strict8d resatvas of £16,80012022'. £16.8001- Tha charity has net rajrrent assets, not represented by restricted lunds of £10,117 {2022: £4.3381. Tho ¢harity has no free reserves. being unreslricte(I lunds exduding those represented by tangible fixed assets. AJI UnreStrted reseives, Sess those sel aside for the adminlslratSon of the charty, are currently beiro applied lo the boathouse. The reserves p)licy is to maintain reserves SLrfficienl for the operation of the charty and Ihe orKJoing maintenanco of the boalhoLtse. The Iruslees reconsidered the reserves w)Iw when Iho tx)alhouse construction was completed. The rewsed policy is to retsin a free reserves level of approximately 3 months of operational expenditure and the trustees are working towards establishiro this level of fuTrJing. Page 4
wHLINGHAm BOATHOUSES FOUNDATION LIMED IA Company Lifflited by Guaranto0) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Statsmènt of Trnstoos. responslbllltlos The TnJslees IWIK) are also the directors of the company for the purposes of company law) are responsible for preparing the Trustee5' Report and the financial statements in accordance with applicab law and United Kingdom Accountirwj Standards (United lQrvJdom Gerra1ty Accepted Accounting Praclice). Company law requires the Truslegs to preparg finanrial stalements for each financial . Undar company law, tho Trustees must not approve the finarla1 swemgnts unless they are satisfied that they grve a true and fair view of the state of affairs of the company and of ils in¢(xning resources arKI application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required lo.. sdect suhable accountiw wlides and then appty them consi81enltr. observe the melhods and 5yinciples of the Charit$ SORP IFRS 1021., make judgments arnl accounting estimates th* a reasonable and prudenL' State whother applrable UK Ac(x)untiNJ Standards {FRS 1021 have been fdlowed, subject lo any material departures disclosed and explained in the financial statements; preparo the financial statements on the going concwn basis unless It Is Inapproprialo to pr8sum8 that tha company will continue in business. The Truslgos are responsible for keepirg adequate aCuntiThj records that are suffKient to show and explain th& companvs tsansacb'ons and disclose th reasonable acCuY at any time the financrdl position of the company and enable them lo ensu that the ffinancial statements Comp with the Companies Act 2006. They are also responsible for safeguardiThJ the assets of the ¢panY and hence for takiw reasonable steps for the prevention and deteclion of fraud and other irreguLgrib"es. Approved by order of members of thg board of Ttustees and on their behalf by. CJHS¢ott Date. Zc.fL &+- Page 5
WHITUNGHAM BOATHOUSES FOUNDATION LIMrrED (A Company Llmltod by Guardntool INDEPENDENT LXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Indopendont Examlnorfs Rgport to th& TrUStS of Whltlingham BoathouMs Foundatlon Llmltad I'tho compan} I report to the charity Trustees cfft my examination of the Unts of the (x)mpany for the y8ar 8nded 31 December 2023. R•sponsiblllths and Basls of R¢port As the Trustees of the company {and its directors for the pUrSeS of company lawl you are responsible for th& preparation of the accounts in acoardan the requirements of Companies Act 2006 Ilhe 2006 AcV}. Having saltsfied mtr that the accounts ol the rnpanY are M>t required to be audited under Part 16 of the 2006 Act and are eligible for independenl examination. I report in respect of my examination of the companls accounts carried out und8r sectKJn 145 of the Charities Act 20111.the 2011 Acri. In canwng out my gxamination I havo followed the Diro¢lH)ns g5ven by the Charity Commission under section 145(5Mb) of th8 2011 Act. Independent Examlnerfs Statement I have completed my eXaminan. I confirm that no matter5 have tt)me to my att8ntion in ccfflnection wth the axamination givir¥J me causo to b81iw8: acct)unllng r8c(Kds wern t kept reSt of th8 ¢))mpany a5 required by stion 386 of the 2006 Act., or the accounts do not accord with those rords.. or the accounts do not comply with the accountiThJ requirements of 88clk)n 396 of the 2006 Act other than any requirement that the accounts glve a and fairf Ithich 15 riot a matter consider•J as part of an independent examination., or the accourbts have not been prepared in acrdar¥ the meth$ and prinaples of the Slatemont of Recommended Practi frir accounting and reporbng by charrties lapplKable to charities preparing their accounts in accordance with the Financial Raporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no conoEms and have (y)me across no other malters In connodM)n with the éxamination to which attention should be drawn in this report in order to enable a propel understanding of the accounts lo be rgached. This report is made solely lo the companls Tmslees. as a body. in accordance wlh Part 4 of thg chareS IAccounls and Reports) Regulations 2008. My Vrk has been undertaken so that I might state lo the cornpanls Trustees those matters l am reqLFired to stale to ttm in an Independent Examinerfs Report and for no other purpose. To the fullest extent permitied by law. I do rK)l acopl or assume responsibility to anyone other than the company and the ¢ompanls Trustees as a trt)dy. for my work or for this report. Signed.. Christopher Yeates FCA DChA Larking Gowen LLP Chartered Accountants Non#ich [15 Dated. 70 gopfre-ber Page 6
wHLINGHAm BOATHOUSES FOUNDATION LIMtTED IA C¢)fflpany Llmlt•d by Guarnntee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDuRE ACCOUNTI FOR THE YEAR ENDED 31 DECEMBER 2023 RestTiCted Unrnstrl¢t•d funds lunds 2023 2023 Total funds 2023 Total funds 2022 Income from: Donations and legacies Charitable acts'vities Investments 80.435 116 Total Incomo gXl.376 90.376 80.491 Expendltur• on.. Charitable activitias 11x1.291 100.291 132,646 Total 0Xnditu 11KI.291 100,291 132,646 Not movgment In funds (9,915) 19.915) (52, 155) Roconclllatlon of lund$: Total funds brought foNard Nel movement in funds 16.800 978.501 (9.915) 995,301 19.915) 1.04T.456 (52, 155) Total fund$ carried forward 16.800 968.586 985,386 995,301 Th8 Ststemonl of Financial Activibes irKlthles all gains and losses rg(xNJniwl in the year. The notes on pages 10 to 21 form part of these finala1 statements. Page 7
WHITLINGHAM BOATHOUSES FOUNDATION LIMThED (A Company Llmltod by Guarant•e) REGISTERED NUMBER: 07012582 BALANCE SHEET AS AT 31 DECEMBER 2023 2022 Flxed assets Tangible assets Curront as$8ts 992.665 1.019,708 Debtors Cash at bank ond in h8ThJ 10 44.322 52,158 34,349 36,087 70.436 Creditors.. amounts fallir*J due wrthin one year {86.363) (66,098) N•t currènt assets 10,117 4,338 Totsl assats l•ss curront Ilabllltles 1.002.782 1,024,046 Creditors.. amwnls falling due after more than one year 12 117.3961 (28,745) Total n9t assots 985,386 995,301 Charlty funds Restricted ftjnds Unrestricted funds 13 16.800 968.586 16.800 978.501 13 Total funds 985.386 995,301 Page 8
WHITUNGHAM BOATHOUSES FOUNDATION LIMITED (A Company Llmitod by Guarantr•) REGISTERED NUMBER: 07012582 BALANCE SHE ICONTINUEDI AS AT 31 DECEMBER 2023 The company was entitled lo exemplK)n from audot under SlI0n 477 of the Companies Act 2006. The members have not requir1 the cx)mpany to obtain an audit for tha yvar in questM)n in accLJrdance with section 476 of Companie5 Act 2Cth. The Trustees acknovAedge thr responsibilities for wth Ihe requirements of the Act with respect lo ocxounting records and preparation of financial statements. The financial statements have been prepared in acojrdance with the provisions appli¢abl8 to entities subject to the small companies regime. The financial statements yre apwoved aufvjrised for issue by Ihe Trustees and signed on thelr half by.. CJHS¢ott Dale.. 2JL •f_gor?o The notes on pages 10 to 21 f(¥m part of Ihese financlal statements. Pagè 9
WHITUNGHAM BOATHOUSES FOUNDATION LIMITED IA Company Llmltod by Guarnnt•o} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2023 Goneral Infomiatlon Whitlingham Boathous8s FOundan Ltmiled is a charilablD company limited by guarantee. charity number 1133(3 and company number 07012582. The regk8t8rgd office is 7 Wairhwright Close. Lowestoft. Norfdk, NR32 4WG. Accounting pollclos 2.1 Basls of prnparatlon offinancial stat8m8nts The financial stal8ments have been pr8par8d in accordance with the Charities SORP IFRS 1021- Accounting and ReIrts"rJ by Charities: Statement of Recommended Practi applicable lo charibes preparing their acwunts w) accx¥danc with the Financial R8p)rtiryJ Standard applicable in the UK and Republ of Ireland IFRS 1021 {effective 1 January 20191. the Financial Reporting Standard applicable in the UK and Republic of IreL4nd {FRS 1021 and the Companies Act 2006. Whitlingh8m Boathouses FouThYation Limited meets the dèfinition of a publ b8n8fft &ntity under FRS 102. Assets and Ikgbilities are inttity rectsJnised at hislori(al cost or trans&lion value unless otheThise Sed irb the relevant acLxNJntiThJ polry. The financial stalements are presented in stsding, whth is lh6 functional currency of the Company. and rounded to the n88rest£ 2.2 Golng concern The trustees have (y)nshlered the charitys Ih)siiN)n at the timg of $3nirwJ the financial slalemgnls. The trustees have prepared budgets aTrJ forecasts whKh indate the charity will have sufficient funds to meet its liabilities as they fall due. The trustees have also considered the financial resources available lo the charity. and abdty to rwse addiknonal funds through raising service charges or reduce costs shouky this be required. Based on this. the truslees have concluded that they have a reasonab expectation Ihal the charity will have adequale rosources to conlinue in operabonal existence for the foreseeab future, and al least twelve months from the date of s¥JnirvJ these financial statements. They therefore continue lo adopt the going concern basis of ac(x)unb"rwJ in preparing these financKfjl stslements. 2.3 Fund ac¢ounllng General furvjs are urirestricted lunds whK are available for use at the discretion of the Trusloes in furtherance of the geneial objectives of the company and whith have not been designated for other purpjses. Restricted fun(ts are furKls which are to be used in accx)rdance with srf1¢ restrictions imposed by donors or which have been raised by the company for parkn"tlar purtx)ses. The costs of raising and administering such funds are charged against the speuk fund. The aim and use of each restricted fund is sel out in the notes to the financial statements. Investment income. gains and losses are allocated to the appropriate fund. Page 10
WHITUNGHAM BOATHOUSES FOUNDATION LIMITED (A Company Limit by Guarant•el NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Ac¢ountlng polici•s Icontinuqd 2.4 In¢om• All income recognised once th& company has enbugment to the incomo, it is probable that th irKome wll receNed and the amwnl of itKome receivable can be measured relkably. Income lax recoverable in relalion to inveslment income is reccgnised at the me the investment irKome is receivable. 2.5 Expendlture Expenditure is recognised On there ts a al or construclive obligation lo transfer economic benefit to a third paty. it is probable that a transfer of econom benefrts wll be required in settlemtsnl and the amount of the oblKJation can be measured rdiabty. ExperKliture is d8SSrfd by aclivty. The costs of each actNity are made up of tho total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct sts attributsble to a single actNity arg allocalgd directly to that activty. Shared costs which contribute lo more than one activity and support costs which are l attributsble to a single activity are appOrtned betsveen tSe athibes on a basis consistent wth the use of resources. Central staff Costs are alkncaled cffl the basis of time spent. and depreciation charges alkKaled on the w)rb"on of the asseys use. Expendityre on charitable actiwties is incurred on directy urKlertakirvJ tho actiwties which further the companls objectives, as well as any associatsd support costs. All expenditure is IrlUsive of irrO¥erable VAT. 2.6 Interest rKelvable Interest on lunds held on deposit is irKILvJed vthen rgcgivable and the amount can be measured reliably by the company. this is normalty ut)n rlificat)n of Ihg interest paid or payable by the inslilulion wtth whom the fvnds are deposited. 2.7 Tangible fixed assets and depreciation TatvJlble fLxed assets costing £500 or more are capitalsed arKI recc*Jnisod when fijlure economi benefits are probable and the cost or value of the asset can be measured reliably. TarKJible fixed assets are initialty rwni%ed al (x)st. After reccMJnition. urKler the cost mtyjel. t8ngible fixed assets are measured at Cost less accumulatwj depreciation and any accumulated impairment 105ses. AJI costs incurred lo bring a tsngible fixed asset into its intended working condition should be induded in Ihe ffleasurement of cost. Deprecialion is charged so as to all(te the cost of tajIb fixed assets less their residual value over their eslimate(l useful live5. Depreciation is provided on the followirg . Lofig-lerm leasehold property Equipment 2% straight lin 10% straight line Page11
WHtrLINGHAII BOATHOUSES FOUNDATION LIMITED IA Company LIMIt by Guarantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting pollcles {continu•d) 2.8 Dgbtor5 Trado and other debtors are rec(KJnised at the settlement amount after any trade discount offered. Prepayments are valued at th8 amwnt prepa#Y net of any tr discounts due. 2.9 Cash at bank and in hand Cash al bank and in hand iludeS cash and short-terni huhty liquid investments wf(h a short maturity of three months or less from the date of wuisition or openiro of the deposit or simiL8r account. 2.10 Llabllltl•s and provhk Liabilities are reccgnised when Ihere is an obligation al the Balance Sheet date as a result of a past avent, it is probable that a transfer of economic benefft will t* required in settlement. 8nd the amount of the settlement can be estimated reliabty. Liabilities are recoJnised al the amount that the company anticlpales il will pay lo settle the debt or the amount il has received as advanc&J payrnenls for the gocd5 or services il mu51 provid8. Provisio arg measure(l at the best estimats of th8 amounts wuired trj settle the obligation. Where the effect of the time value of money is rnaterial. the provtsion Is based on the present value of those amounts. discounted al the pre-tax discount rate that refiects the risks specific lo the Ikgbility. The unwinding of discount is roc(¥Jnised in the Statement of Financial Activities as a finance cost. Income from donations and legacies Vnr•$trlct8d funds 2023 Total funds 2023 t)on8tions Unresthcted funds 2022 Total funds 2022 tlonatNJns 50 Page 12
WHITUNGHAM BOATHOUSES FOUNDATION LIMrrED (A Company Limitad by Guarants• NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 In¢om• from ¢harltabh activiti•s Unrestrlctod nds 2023 Total fund$ 2023 Serwce charges. kttchen income and facilb'es ,260 90.260 Unresfricled funds 2022 Total funds 2022 Serwce charges. kitchen income and facilties INre 80.435 80.435 Analys1$ of •xpendiiur• on ¢harltablo activities Summary by fund type Unrestrfcted funds 2023 Total 2023 Boathouse operating costs 100.291 100,291 Unrestslded fvnds 2022 Total 2022 BoathoLK8e operating costs 132,648 132,646 Page 13
WHrruNGHAM BOATHOUSES FOUNDATION LIMITED (A Company Llmlt¢d by Guarnnta•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysls of oxp•nditurè by actlvltie¥ tlvltlos undertakon diroctly 2023 Support costs 2023 Total funds 2023 Boalhou5e operating costs 83,914 16,37T 100,291 undertaken direGUy 2022 Support costs 2022 Total funds 2022 Boathouse operating ctsts 117.140 Is,6 132,646 Analysls of dlro¢t $ts Boathou$0 project 2023 Total funds 2023 Rent 9.354 603 9,354 603 Logal and professional Dgprecialion Operallng costs Govemance costs 27.043 44,664 2,250 27,043 44,664 2,250 83.914 83,914 Page 14
WHITUNGHAM BOATHOUSES FOUNOATION LIMITED (A Company Llmltad by Guarantsa) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysi5 of ewndltur• by activitios (conlinu Anatysls ol direct costs {contlnuod) Boathouse pmject 2022 rotal runds 2022 Rent Legal and Professional Depreciation Operating costs Governance costs 7.500 7.063 27,134 73,293 2.150 7,500 T.063 27.134 73,293 2, 150 117.140 117,140 Anafysi5 of support costs Boathousg project 2023 Total funds 2023 Adminislratp)n Insurance 3,133 10,996 2,248 3,133 10,996 2.248 Financa costs 16.377 16.37T Boathous& project 2022 Total funds 2022 Administration 2. 793 9.821 2.892 2.793 9,821 2,892 Insuranc8 Finance costs 15,506 15.506 Pa 15
WHtruNGHAM BOATHOUSES FOUNDATION UMITED IA Company Llmltod by Guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Indepondont examlngrf$ romunoratlon The independ8nt examine¢s remunerat amounts to an iThJependent examiner feo of £2.250 12022 - £2,150). Trust. romuneratlon and gxponsos During the year. no Trusteas receiv&1 any remuneration or other teneffts (2022- £NIL). During the year ended 31 December 2023. no Truste6 expenses have been incurred (2022- £NIL). Tangible fixod assats Long4emi loahold Plant and proprty machinory Total Cost At 1 January 2023 1.278336 43.073 1.321,309 At 31 December 2023 1.278236 43,073 1,321,309 Dgpr8clatSon Al 1 January 2023 Charge for the year 261,867 25,565 39.734 1.478 301,601 27.043 At 31 December 2023 287.432 41.212 328.644 N•t book valu• At 31 Dec*mber 2023 990.804 992.665 Al 31 December 2022 1,016,369 3,339 1,019, 708 10. Debtors 2023 2022 Dua wlthln ono year Trade debtS 44.322 34,349 Page 16
WHITUNGHAM BOATHOUSES FOUNDATION LIMITED (A C¢)mpany Limited by Guarnnt•e) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 11. Creditors: Amounts tslllng du¢ withln on• y•ar 2023 2022 Bank loans Other taxat>)n and socid security Accruals and deferred i)Me 11,350 18.080 56.933 10.642 11.256 44,200 86.363 66,098 Bank loans due within one ypar rdate to the capital repayments to be made over the course of the next year. Interest lotrallin9 £2.246 {2022: £2.892) vrds Charged to fv Charitable company during the year. 2023 2022 Dalarrgd Incomo Deferrwl income at 1 January 2023 Regources deferred during the year Amounts released from preVS p8fKKIs 34,696 45,614 134,696) 23.637 34,696 {23,637) 45,614 34.696 Deferred irthme relates lo annual service charges received in advance in relation to the 2023124 perd. 12. Credltors: Amounts falling due after morn than ono yoar 2023 2022 Bank loans 17,396 28, 745 The bank loan from The Charity Bank Limtted is sere by a fixed charg8 over the leasehold propety. Bank loans due In more than one yBar relate to cawtsl repaJTrents to be made on the loan. Interest lo be charged on the balance due in more than one y8ar amounts to £859 {2022.. É2.4021. Page 17
wHUNGHAm BOATHOUSES FOUNDATION LIMITED (A Company Llmlt•d by Guaranteo) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 13. Stat•m•nt of fund5 Statement of funds- wrrgnt yoar Balance at 31 Decemb 2023 Balan at 1 January 2023 Incomo Expondlturo Unr8striGted funds General Funds- all fvnds 978,501 90.376 11110.2911 96B,586 R•strkt8d funds Coaching Bursary fund Disability fund 3,980 4,820 3,980 4,820 8.000 16.800 16.800 Total of fund$ 995.301 90.376 111)0.2911 985,386 Pagè 18
WHITUNGHAM BOATHOUSES FOUNDATION LIMITED {A Company Llmltad by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 13. Statement of funds (continued) ststgm•nt of funds - prlor year Balance al 31 December 2022 8alanc& 8t l January 2022 Transfers in/oul Income &p8ndlturg Unrnstrlctgd funds Gonefal Funds- all funds 1,016.129 80,491 (132.646) 14.527 978,501 Coaching Boats & Equipment Boathouse Bursary fvnd Disability fund 3.980 11,039 3.488 4.820 3,980 (11.039) (3,488) 4,820 8.000 31.327 (14,527) 16.800 Total of funds 1,047,456 80,491 (132,646) 995.307 The coachirvJ furKI is lo a5SiSt coaching c£)sls asscKiated wth the'Explore Rowing, programme. The bursary fund is lo 'SpOn the c4Jsts of yDung peop erther in trainiThJ or to help them with Subscripn c(kSts. The disability fund is to provide increased a$S for Ihe disat4ed and help those wth leaming difficulties. Page 19
WHITLINGHAM BOATHOUSES FOUNDATION LIMITED IA Company Llmltod by Guarants•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 14. Anatysl$ of not a$sgts betWn funds Anatysls of n•t ass•ts between funds- current year Restricted Unrestrkted funds funds 2023 2023 Total funds 2023 Tangible fixod assets Current assets Creditors due wthin one year Creditors due in more than one year 992.665 79.680 186.3631 117.3961 992,665 96,480 (86,363) (17.396) 16.800 Total 16.800 968,586 985.3B6 Analysis of net a55ets bolwwn funds - prlor y Reslricted Unrestricted nds funds 2022 2022 Total funds 2022 Tongible fixed assets Current assets Creditors due within one yEar Creditors due in more than one year 1,019, 708 53,636 (66.098J (28.745) 1,019, 708 70,436 (66,098) (28, 745) 16.800 Totsl 16.800 978,501 995.301 15. Operatlng commltments At 31 December 2023 the company had u)mmrfments to make lulwe minimum lease payn)ents under non-¢an¢ellable operating leases as folhJws= 2023 2022 Not later than 1 year Later than 1 year and not ter than 5 years Later than 5 yEars 7.500 37.500 435,000 7,5(10 37,500 442,500 480.000 48T,500 Page 20
WHITUNGHAM BOATHOUSES FOUNDATION LIMED (A Company Limit by Guarante•} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEhlBER 2023 16. Related party tran¢tIOnS The compary has not entered into any relatsd paty transacti(K) during th8 yBar, nor are ther9 any oulstandiThJ balances owing betweon relatwj parties and the ¢panYa1 31 Decembgr 2023. Page 21