LEEDS ROWING CLUB AGM Minutes
Date: 15[th] of October 2022 Time: 10am Location: The Stourton Boathouse
Attendees
David Saul (DS) – Chairman and Head of Rowing David Cottrell (DC) – Membership Secretary Gavin Coates (GC) – Development Director Jessica Brush (JB) - Treasurer Naomi Assame (NA) – Secretary Susie Franklin Jess Foster Matt Parry Aisha Omri Kirstie Murphy Mark Tarrant Anne-Marie Folan Lucy Conn Ella Murphy Oliver Moxon Fraser Moxon Tom Bramham Butts Hannah Batten Annie Aspinall Holly Linford Hannah Moore Georgia Campbell Grace Hartley Phoebe Keates Charlotte Sandell Connor Bull Matt Dawson Tom Robinson Tom Menzies Tom Roe Oliver Lumley Jack Turnham Lowri Mumford Ross Goodman Jordan Miguel Lopez Evan Gillespie 1. Welcome
Matt Parry Kirstie Murphy Georgina Ashley Lucy Conn Matthew Bertola
David Saul welcomed everyone to this year’s AGM.
2. Chairman’s Statement
David Saul provided an overview of his report below:
At the time of last year’s AGM it looked as if the worst of Covid was behind us and the Club was returning to something like normal. Covid hadn’t, and still hasn’t gone away but we were able to have a Club dinner albeit with a few Covid abstentions and went on to have a very enjoyable and successful rowing season.
As reported in the Membership and Treasurers reports, the Club is thriving. Our membership is stable with leavers being balanced by newcomers to the Club and despite buying an additional 8 and coxed quad last year, the club finances remain quite healthy under the stewardship of our new treasurer who was appointed to the Committee at the 2021 AGM.
For 2022, the racing calendar returned to something like normal although there was so much national enthusiasm to race that many events were oversubscribed, and we had to be very organised to get our entries in and accepted. From a rowing point of view the Club is heading to its most successful Calendar year. With a couple of races left, we have currently recorded more event wins at this stage than in any year to date and we can confidently expect to surpass the previous highest number of race wins for the full year. This has been done by the largest number of people ever racing and success throughout the squads at all levels from the highest performers to our newest rowers who have all been given the opportunity to improve and race.
Winter training for next season has already started with great enthusiasm. We have had a large number of new members join the club adding to the quality in the senior squads and the Club can look forward to an even more successful 2023 for the seniors.
The Junior Academy is growing with around 30 young people now rowing regularly. The Club had four Juniors who were selected to row for Yorkshire in the Junior Interregional regatta, but they were prevented from racing due to the horrendous weather on the day. We have appointed a full-time coach, Rob Mackenzie, who joined the club at the end of August and has already made an impact on the enthusiasm and quality in our junior squad. We look forward to more juniors being selected for Yorkshire and adding to the trophy haul.
No questions were posed by the membership to the Chairman.
3. Treasurers Report
Jessica Brush provided an overview of the Treasurers commentary and the clubs statement of accounts and the which can be seen below. This is the first year the current Treasurer is in post.
What are the point of accounts?
My main purpose is to give you confidence that you can see that we continue to have a healthy balance, and that all payments are evidenced and justifiable, in line with our Constitution, our duty as Trustees, and as per regulation. Using these statements to make financial and strategic decisions about the club, without any of their context, comes with the risk that numbers are misinterpreted. So, if club members wish to do this, we advise them to talk to the Treasurer to appreciate some of the subtleties.
How the club earns its money
The primary source of income is through membership fees from all members and coaching fees paid by junior members. Membership fees have been depressed for the previous two periods due to rebates given during the pandemic. Learn To Row (L2R) income has been lower than in previous periods reflecting capacity issues, however we have recently started training new rowers. We have had a successful year in obtaining grant income with the majority of grants relating to our projects to support junior rowing. We are also kindly supported through a number of past and present members who regularly donate to the club.
How the club spends its money
The majority of our expenditure goes towards the purchase and maintenance of boats for the club. We have continued purchasing equipment, including an 8+, 4x+ and a trailer. We continue to review the fleet to ensure we invest appropriately. Our maintenance and upkeep spend has been stable over the past two years, but we spend a significant amount maintaining the fleet. "Coaching investment" is primarily our outlay for junior coaching.
This year the club contributed £1,000 in boathouse investment for the installation of motion sensitive lighting. We received a rebate on rent payable to the boathouse in light of the continued impact of the pandemic. Other key costs for the charity include City Council costs for the use of Waterloo Lake, fuel for the launches, cleaning supplies, CaRT licences, BR affiliation fees, and miscellaneous expenditure, all of which is receipted and verified by the treasurer.
Our financial performance
As a club we are solvent (we have plenty of money in reserves), we are liquid (we can make payments as and when we need to), and we have made sure that fixed costs for the next 12 months are affordable and don't impact our solvency or liquidity. Our reserves have significantly increased due to the significant grant received from Sports Aid in relation to our junior programme, this was anticipated to be offset by costs of employing a full-time co-ordinator but due to delays the costs associated with the
junior programme are likely to be incurred in the upcoming year. Please note our balance sheet just counts our financial assets – we do not value our fixed assets like boats in our year end accounts (although we do for insurance purposes). When we purchase a boat, we recognise this as a loss making
activity with an immediate reduction in reserves.
What do we do to manage the club’s finances?
1) Robust banking controls, including "levels of delegated authority" codified in our Constitution so major transactions can only be made with the whole committee's collective approval. We do not own a club credit card, or a club debit card, so money can't be spent without our explicit knowledge and pre-approval.
-
2) These statements - prepared annually - that are examined by an
-
"Independent Examiner" and recorded on the Charity Commission website
-
3) Membership status and payments are monitored by the Membership Secretary
-
4) Race fee payments and provisions are monitored by the Director of Rowing
-
5) The chairman's re-imbursement account is independently reviewed by the Treasurer
6) The Director of Rowing maintains, with the support of the Treasurer, a financial forecast for the next 12 months. These plans are collectively reviewed to make sure key expenditure is in line with our strategy and we remain solvent.
Treasurer recommendations for the next twelve months
Based on the club's finances, I make the following recommendations: 1) Ensure boats and equipment are looked after. Although expenditure on maintenance is expected and unavoidable, remedying loss or accidental damage to equipment is a significant expense.
2) Continue to ensure that membership provides good value for money and the club is a great place to be. Membership is a key source of income, and we want to ensure we retain and reward our members.
3) Check with your employer whether they offer a volunteering grant for charities or consider whether there is anything you could do from a volunteering perspective to support the club.
Matthew Bertola sought clarification on the value of outstanding race fees that were detailed in the 2021 AGM minutes. JB advised that the position had improved significantly in the last 12 months and that the outstanding amount was now very low. DS advised that anyone with outstanding race fees would not be entered for races. Attention was drawn to the club’s hardship policy and members were invited to approach any of the committee if they wanted to discuss the repayment of race fees through agreed instalments.
3S.S37 5.797 41332 518 1.697 zi 1310 &323 13 Z191 13 &711 S.037 9231 1.616 I13 272TT 1.119 615 373 695 1.5 037 X705 51175 7J7 1%374 1626 21m5 261 11.102) 1.744 IZ3261 2.237 2&tsJ 19.637 .70S 21.IXrf> 11.413) 133 637 21fft51
4. Membership Report
David Cottrell provided an overview of his report below.
Membership
Club membership has remained stable during the year. Those leaving mostly do so because of changing jobs, having babies, moving out of the area, etc and feedback from members is positive.
As of October 1[st,] we have 109 adult squad members and 31 junior squad members, with another 20-30 people who have just started rowing with us but have not yet been invited to join.
We started adult L2R again and this has led to some new members, and we continue to get a steady stream of rowers who move to the area and want to continue rowing with us.
As standards improve at the canal, we have found it increasingly hard to integrate L2R graduates, who used to spend a few weeks in the novice squad before transferring to the canal. After a few weeks they are not ready for transfer but if we keep running L2R courses, the graduates from those courses make the novice squad too big. We have therefore disbanded the novice squad at the lake and replaced it with a new development squad. We are currently running a L2R course for 14 people from the waiting list who will join 4 novice squad members and form a development squad that will row twice a week at the lake, as well as attending Land training mid-week with a view to racing in the Spring and transferring en masse to the canal next summer. If this goes well, we will repeat it every year.
Last year’s junior L2R group have all graduated to the canal and were racing for the first time this summer. Another new J14 group completed L2R in the Spring/Summer of this year and have just transferred to the canal.
Parents Group
This year the parents of the J15-16 squad have formed a parent’s group with the aim of supporting the club and in particular the junior section. The new J14 parents are about to be included in the group. The parents group organised refreshments at the fun regatta held in early September to welcome the new J14s to the canal and raised money for the club at the same time. The group are exploring other methods of fundraising and sponsorship – for which we are very grateful.
Waiting Lists
Enquiries from juniors and adults have continued to come in and the adult waiting list having reduced as we recruited for the development squad has started to grow again. Currently we have about 20 on the wait list for the development squad but another 20 who want to learn to row but who wish to row more recreationally. We are not sure how we are going to accommodate this second group. Anyone interested in helping run L2R for this group at the lake please let me know!
The new junior system of selecting after a testing session means we no longer have a waiting list for juniors. Instead, we have a list of people waiting for the next testing session.
Safeguarding & Safety
Kate Riley has agreed to continue as Club Welfare Officer and David Coverdale as Club Safety advisor. Our thanks to both of them for their often unseen but always essential contributions to the smooth running of the club.
David Coverdale has recently completed an inspection of all the boats in our fleet. They are mostly in good condition, but he was concerned about several boats with missing/ unattached heel restraints. Heel restraints are an important safety feature and must be present and securely attached. If you notice any damage or anything wrong with any of our boats, please report it immediately to David Saul (or to me if the boat is at the lake) so that it can be fixed.
Thanks
None of the above would be possible without regular volunteering from club members. Without their input the club itself could not function. We should all be grateful to:
Kate Riley and David Coverdale for taking on Welfare Officer and Safety Advisor respectively. Thanks also to Bev Brennan and Chloe Kelly who have agreed to assist Kate with CWO duties.
Dani Markendale for regularly coaching the Novice squad, and now the first development squad session, ably assisted by Kate O’Connell. Nathan Maude for co-ordinating the development squad sessions and coaching the second session, assisted by Jenny Hughes, Jessica Foster and Susie Franklin.
And a whole bunch of people who volunteer to help Dani at the lake on an ad hoc basis: Helen, Atkins, Matthew Bertola, Jessica Brush, Lucy Conn, Paul Doherty, Niamh Forde, Paula Moses, Ruth Mullins and Lynn Smith
Thanks also to all our J15-16 juniors who helped with the new J14 L2R sessions at the lake this year.
My sincere apologies if I have missed anyone from this list.
If anyone in the club would like to help at the lake by assisting at the occasional adult L2R or Development Squad session please let me know, we are always looking for more help.
5. Club Development Report
Gavin Coates summarised his report below:
This last year has been a bit of a blur with rowing at the club getting back into gear and lots of programmes starting to take off at the club.
My work as Development Director this year has been split between the development of the Junior Academy and funding.
Funding
This has been a challenging year relating to grant funding. Many of the larger grants which we have previously accessed both prior to Covid and during Covid have changed, with the emphasis switching to community engagement and health related projects as opposed to purchases for capital equipment to widen participation. We have also seen major funders such as Sport England move away from grant funding to match funding and the onus being on clubs to crowdfund with Sport England then deciding whether to provide match funding.
We continue to target smaller grant applications up to £1000 which enable us to purchase essential items such as safety equipment and we were successful in securing a Leeds Sport Foundation grant to purchase a stock of new buoyancy aids for the lake with further applications in process for new launch safety equipment. We were also successful in securing a grant from the Rowing Foundation which funded 50% of the costs of a refurbished coxed quad from Janousek for the juniors.
Going forwards, we need to be more creative in finding funding. The boat fleet requires investment as our club membership grows and this includes both new boats to fill the gaps in our current fleet but also to begin replacing boats which are reaching the end of their useful life as competitive boats. As you know this is not cheap but is essential if we want to continue to have the right equipment to continue to race in.
If people have ideas for fund raising, crowdfunding, know potential sponsors or donors then please let me know. As a club we don’t have a massive behind the scenes membership base of non-rowing social members, or alternate revenue streams to boost the coffers. If anyone has ideas or wants to help plan or coordinate fundraising activities, just let me know.
Junior Academy
This year my work on the Junior Academy has been related to assisting David Saul with the recruitment of a full-time coach on the programme and the ongoing development of the academy itself. The recruitment process was challenging, with Covid proving a barrier to recruitment, but we got the person we wanted, and Rob is already making his mark with the juniors and it’s great to see some positive changes already. I continue to support David in the development of the junior academy with support behind the scenes on how we target the schools, the recruitment and selection process and advice on delivery so that we can increase
participation and find those children from deprived areas who will have their lives changed by rowing.
Other work
Boathouse. You will have seen the work done in the foyer over the summer in preparation for the new season, this continues to be a work in progress (we need more pennants!) but one of my big beliefs is that the boathouse is not just an empty shell, it should be somewhere that we can show off our success. Thank you to everyone who has assisted with making the boathouse feel more like a rowing club than a bland building.
Social Media/Website. As you know I run the social media accounts and update the website and we are now seeing more and more enquiries coming direct to our social media pages as well as through the website. I encourage everyone to keep tagging in our social media accounts (perhaps not in Otley Run images…) as this only boosts our ability to attract and recruit more experienced athletes into the club.
Grants Received
Active Leeds - £300 for new buoyancy aids. The Rowing Foundation - £2125 part funding to purchase new coxed quad.
Fundraising
Junior parent’s fundraiser – £165 refreshment selling at fun regatta. Explore Rowing Regatta - £256 raised by the Recreational Squad selling refreshments at the Explore Rowing Regatta at the lake.
6. Election of Executive Committee
David Saul advised attendees that the current committee were each happy to stand again for their positions and that these positions had not been contested.
7. AOB
No motions were brought in advance of the AGM.
David Saul thanked everyone for attending and closed the AGM at 10:37.
Leeds RC accounts 2021 -22.xlsx
12/10/2022
Leeds RC - Treasurer's commentary to the accounts
v3 - Prepared on 12/10/2022 - For presentation at AGM
This is the first year the current Treasurer is in post.
What are the point of accounts?
My main purpose is to give you confidence that you can see that we continue to have a healthy balance, and that all payments are evidenced and justifiable, in line with our Constitution, our duty as Trustees, and as per regulation. Using these statements to make financial and strategic decisions about the club, without any of their context, comes with the risk that numbers are misinterpreted. So if club members wish to do this, we advise them to talk to the Treasurer to appreciate some of the subtleties.
How the club earns its money
The primary source of income is through membership fees from all members and coaching fees paid by junior members. Membership fees have been depressed for the previous two periods due to rebates given during the pandemic. Learn To Row (L2R) income has been lower than in previous periods reflecting capacity issues, however we have recently started training new rowers.
We have had a successful year in obtaining grant income with the majority of grants relating to our projects to support junior rowing.
We are also kindly supported through a number of past and present members who regularly donate to the club.
How the club spends its money
The majority of our expenditure goes towards the purchase and maintenance of boats for the club. We have continued purchasing equipment, including an 8+, 4x+ and a trailer. We continue to review the fleet to ensure we invest appropriately. Our maintenance and upkeep spend has been stable over the past two years but we spend a significent amount maintaining the fleet.
"Coaching investment" is primarily our outlay for junior coaching.
This year the club contributed £1,000 in boathouse investment for the installation of motion sensitive lighting. We received a rebate on rent payable to the boathouse in light of the continued impact of the pandemic.
Other key costs for the charity include City Council costs for the use of Waterloo Lake, fuel for the launches, cleaning supplies, CaRT licences, BR affiliation fees, and miscellaneous expenditure, all of which is receipted and verified by the treasurer.
Our financial performance
As a club we are solvent (we have plenty of money in reserves), we are liquid (we can make payments as and when we need to), and we have made sure that fixed costs for the next 12 months are affordable and don't impact our solvency or liquidity.
Our reserves have significantly increased due to the significent grant received from Sports Aid in relation to our junior programme, this was anticipated to be offset by costs of employing a full time co-ordinator but due to delays the costs associated with the junior programme are likely to be incurred in the upcoming year.
Please note our balance sheet just counts our financial assets - we do not value our fixed assets like boats in our year end accounts (although we do for insurance purposes). When we purchase a boat we recognise this as a loss making activity with an immediate reduction in reserves.
What do we do to manage the club's finances?
1) Robust banking controls, including "levels of delegated authority" codified in our Constitution so major transactions can only be made with the whole committee's collective approval. We do not own a club credit card, or a club debit card, so money can't be spent without our explicit knowledge and pre-approval.
2) These statements - prepared annually - that are examined by an "Independent Examiner" and recorded on the Charity Commission website
3) Membership status and payments are monitored by the Membership Secretary
4) Race fee payments and provisions are monitored by the Director of Rowing
5) The chairman's re-imbursement account is independently reviewed by the Treasurer
6) The Director of Rowing maintains, with the support of the Treasurer, a financial forecast for the next 12 months. These plans are collectively reviewed to make sure key expenditure is in line with our strategy and we remain solvent.
Treasurer's recommendations for the next 12 months
Based on the club's finances, I make the following recommendations:
1) Ensure boats and equipment are looked after. Although expenditure on maintenance is expected and unavoidable, remedying loss or accidental damage to equipment is a significent expense.
2) Continue to ensure that membership provides good value for money and the club is a great place to be. Membership is a key source of income and we want to ensure we retain and reward our members.
3) Check with your employer whether they offer a volunteering grant for charities or consider whether there is anything you could do from a volunteering perspective to support the club.
Jessica Rose Brush
Leeds RC Treasurer 2021-22 and Trustee
1
Leeds RC accounts 2021 -22.xlsx
12/10/2022
Income statement for the period ending 31 Aug 2022
| Income type | Aug 2022 | Aug 2021 | Aug 2020 |
|---|---|---|---|
| Memberships & Racking | 35,537 | 33,687 | 45,332 |
| Coaching fees | 5,797 | 0 | 0 |
| Grants | 34,908 | 9,518 | 50,250 |
| Sponsorships & Donations | 3,000 | 1,800 | 1,697 |
| Online fundraising | 27 | 118 | 62 |
| Events & Corporate Sponsorship | 2,394 | 520 | 2,100 |
| Learn to Row | 1,865 | 3,310 | 1,140 |
| Race Fees & Transport | 8,436 | 5,323 | 729 |
| Bank interest | 13 | 2 | 13 |
| Other income | 2,191 | 1,754 | 5,711 |
| Pass through income | 0 | 2,695 | 5,037 |
| TOTAL INCOME | 94,167 | 58,727 | 112,071 |
| Expenditure type | Aug 2022 | Aug 2021 | Aug 2020 |
| Regatta Fees & Transportation | 9,231 | 4,814 | 1,813 |
| Events | 1,616 | 0 | 1,845 |
| Boat & Equipment Purchases | 20,685 | 27,277 | 82,048 |
| Boat & Equipment Maintenance | 5,346 | 5,357 | 4,498 |
| Boat & Equipment Insurance | 7,366 | 7,832 | 228 |
| British Rowing Affiliation | 1,119 | 963 | 1,283 |
| Boathouse Investment | 1,000 | 181 | 9,308 |
| Leases & Rental | 2,600 | 5,300 | 7,600 |
| Coaching investment | 9,020 | 3,661 | 0 |
| Licences | 609 | 1,038 | 300 |
| Fuel | 615 | 648 | 655 |
| Other expenditure | 1,254 | 373 | 1,538 |
| Pass through expenditure | 0 | 2,695 | 5,037 |
| TOTAL EXPENDITURE | 60,462 | 60,139 | 116,153 |
| Surplus / (deficit) for the year | 33,705 | (1,413) | (4,082) |
Balance sheet for the period ending 31 Aug 2022
| Assets | Aug 2022 | Aug 2021 | Aug 2020 |
|---|---|---|---|
| Cash at bank | 52,175 | 19,374 | 21,825 |
| Debtors | 787 | 2,626 | 261 |
| Prepayments | 3,225 | 2,200 | 1,500 |
| Total assets | 56,188 | 24,200 | 23,586 |
| Liabilitites | Aug 2022 | Aug 2021 | Aug 2020 |
| Other liabilities | (1,102) | (2,326) | (805) |
| Memberships deferred + creditors | (1,744) | (2,237) | (1,731) |
| Total liabilities | (2,846) | (4,563) | (2,536) |
| NET ASSETS | 53,342 | 19,637 | 25,133 |
| Reserves | Aug 2022 | Aug 2021 | Aug 2020 |
| Brought forward reserves | 19,637 | 21,050 | 25,133 |
| Surplus/(deficit) for the year | 33,705 | (1,413) | (4,082) |
| CLUB RESERVES | 53,343 | 19,637 | 21,051 |
2
Independent examination of charity accounts checklist (CC32a)
A recommended checklist for examiners
This checklist is not suitable for the examination of voluntary group accounts.
1. Self-assessment checklist
The questions in this checklist are designed to help the examiner to undertake their independent examination in accordance with the legal requirements and good practice recommendations set out in the Commission’s guidance on Independent examination of charity accounts: Directions and guidance for examiners (CC32).
The examiner is recommended to use the checklist alongside the Directions for independent examination. Not all the checks listed will apply in the case of every independent examination and so the checklist is not a substitute to the examiner using their own judgment as to what is necessary.
The prompt ‘step done’ may prompt a ‘yes’ or ‘no’. A ‘no’ answer does not always indicate a problem because it may simply be that the step was either not applicable or found not to be necessary to the examination undertaken in which case the words ‘not applicable’ or ‘not necessary’ might be entered in place of a working paper reference.
Some answers may be ‘no’ because the evidence or information that was needed could not be obtained and this will need to be considered when the examiner makes their report. It is recommended that all the steps for each Direction are completed with a working paper reference added.
It may be that the examiner completes the checklist as they go through the examination or as a completeness check at the end as they bring their examination to a conclusion and prepare their report. There is no legal requirement to use this checklist and examiners may substitute their own checklist or take an alternative approach.
If the checklist is completed it is recommended that this forms part of the formal record of their independent examination undertaken and is kept in the file of examiner’s working papers.
Checklist
| The Directions and documentation | Step done? |
Working paper reference |
|---|---|---|
| Direction 1: Check whether the charity is eligible to have an independent examination |
||
| Checked the charity audit threshold applying to the accounts to be reviewed |
Y | |
| Checked an audit is not required for anyother reason | Y | |
| Confirmed the charityis eligible for independent examination | Y | |
| Confirmed the amount of the charity’s income to figure shown the accounts (including any branches) and confirmed that income and assets are below the audit threshold or, if applicable, obtained a copy of the letter from the Commission approvingan audit dispensation |
Y | |
| If the charity has one or more subsidiaries confirmed that group accounts are not required bylaw |
N/A | |
| If a charitable company checked that the audit exemption statement has been made |
N/A | |
| If applicable, rechecked the threshold calculation during the examination |
N/A | |
| If the charity’s income is more than £250,000 confirmed that the examiner is a member of one of the listed bodies |
N/A | |
| If applicable, informed the trustees that the charity is not eligible for an independent examination |
N/A | |
| If receipts and payments accounts have been prepared, checked that the charity’s gross income is less than £250,000 and that it is not a company |
Y | |
| If receipts and payments accounts have been prepared, check that there is no requirement to prepare accruals accounts in the charity’sgoverningdocument or for anyother reason |
Y | |
| If applicable, informed the trustees that the charity is not eligible toprepare receipts andpayments accounts |
N/A | |
| Direction 2: Check for any conflict of interest that prevents the examiner from carrying out their independent examination |
||
| Confirmed that there are no close personal relationships with the trustees that compromise independence |
Y | 1 |
| Confirmed as having no the day to day involvement in the administration of the charity |
Y | 1 |
| If providing other services to the charity then confirmed that all the criteria in Direction 2 necessaryfor independence are met |
N/A | |
| Identified that there are no circumstances in the examiner’s judgment that would reasonably lead to the perception that the examiner is not independent |
Y | 1 |
| The Directions and documentation | Step done? |
Working paper reference |
|---|---|---|
| Considered whether sufficiently skilled to carry out the examination and, where required, confirmed membership of a listed body |
Y | |
| If applicable, informed the trustees that you are not eligible to carryout the independent examination |
N/A | |
| Direction 3: Recordyour independent examination | ||
| File of working papers prepared to document the work undertaken (see the Direction for guidance on key working papers) |
Y | |
| Evidence of appointment on file | ||
| If issued,letter of engagement signed bythe trustees on file | N/A | |
| Documentation of steps required byDirection 1 are all done | Y | |
| Documentation that steps required byDirection 2 are all done | Y | |
| Analytical review documented | Y | 3 |
| Areas of concern identified and noted whether these were resolved or if unresolved and significant have included them in the examiner’s report |
Y | |
| Verification and vouching procedures undertaken and any checks made are on file |
Y | 4 |
| Copyof approved accounts on file | Y | |
| Copyof trustees’ annual report on file | N/A | |
| Copies of information relied upon as part of the examination are on file |
Y | 4 |
| If applicable,copies of written assurancesgiven | N/A | |
| Recorded the conclusions drawn as an outcome of the independent examination that support the examiner’s report are on file |
Y | 5 |
| Recorded any matters of material significance about which a report must be made direct to the Commission |
N/A | |
| Recorded whether to exercise discretion and report on relevant matters direct to the Commission |
N/A | |
| Direction 4: Planyour independent examination | ||
| Obtained an understanding of the charity’s constitution, objectives, organisational structure, the funds managed, its activities and accountingrecords and systems |
Y | |
| Planned specific examination procedures appropriate to the circumstances of the charity |
Y | |
| Reviewed whether any areas for improvement were advised to the trustees in the previous year’s independent examiner’s report (or audit report and management letter) and looked to see if anyaction taken |
N/A | |
| Considered the financial risks identified and, where accruals accounts prepared, considered whether the trustees have evidence that shows that the charityis agoingconcern |
N/A | |
| Noted any implications for the examiner’s report and for separate reportingto the Commission |
N/A |
| The Directions and documentation | Step done? |
Working paper reference |
|---|---|---|
| Direction 5: Check that accounting records are kept to the required standard |
||
| Checked that accounting records have been kept are complete and considered if theyhave been kept to the required standard |
Y | |
| Asked the trustees about how they ensure the accounting records are complete |
N/A | |
| If corrections made or records created during the examination, the trustee approval for these has been sought and obtained |
N/A | |
| Asked the trustees if they carried out a review of the charity’s internal financial controls in theyear reported |
N/A | |
| Noted any implications for the examiner’s report and for separate reportingto the Commission |
N/A | |
| Direction 6: Check that the accounts are consistent with the accounting records |
||
| Compared the accounts with the underlyingaccountingrecords | Y | |
| Checked some entries from the listing of transactions of income and expenditure to vouchers such as invoices, bank statements,and receipts. |
Y | 4 |
| If applicable, confirmed that the trustees have taken the necessary steps to ensure that restricted or endowed funds are correctlyreported in the accounts |
N/A | |
| If additional checks were necessary, the evidence was found that showed the accounting record was complete, voucher present,and both supported the entryin the accounts |
N/A | |
| Direction 7: If the accounts are prepared on an accruals basis and one or more related party transactions took place the examiner must check if these were properly disclosed in the notes to the accounts |
N/A | |
| Checked that the disclosures required by the SORP have been made and are complete |
N/A | |
| Considered whether there are any implications for the examiner’s report and reportingto the Commission |
Y | |
| If receipts and payments accounts prepared and a related party transaction note was provided, then checked the note for anyimplications for the examiner’s report |
N/A | |
| Direction 8: Check the reasonableness of the significant estimates and judgments and accounting policies used in accounting for the types of fund held and in the preparation of the accounts |
||
| Checked with the trustees that the separate funds of the charity have been correctly accounted for and reported correctly in the accounts |
N/A | |
| Checked the reasonableness of any significant estimates or judgments that have been made inpreparingthe accounts |
N/A |
| The Directions and documentation | Step done? |
Working paper reference |
|---|---|---|
| Where accruals accounts are prepared, checked that the accounting policies adopted are consistent with the SORP and are appropriate to the activities of the charity |
N/A | |
| Where accruals accounts are prepared, checked that the accounts wereprepared on agoingconcern basis |
N/A | |
| Noted any implications for the examiner’s report and for separate reportingto the Commission |
N/A | |
| Direction 9: The examiner must check whether the trustees have considered the financial circumstances of the charity at the end of the reporting period and, if the accounts are prepared on an accruals basis, check whether the trustees have made an assessment of the charity’s position as a going concern when approving the accounts |
||
| Asked the trustees whether they expect the charity to be able to settle outstanding invoices, bills and commitments as and when they fall due |
Y | See notes to accounts |
| Asked the trustees about the reserves policy and the adequacy of the level of reserves held |
Y | See notes to accounts |
| Where accruals accounts are prepared, checked that the trustees’ have made an assessment of going concern and that their assessment is reasonable given the information available |
N/A | |
| Where accruals accounts are prepared, checked that the SORP’s disclosures about going concern have been made |
N/A | |
| Noted any implications for the examiner’s report and for separate reporting to the Commission |
N/A | |
| Direction 10: Check the form and content of the accounts | ||
| Where receipts and payments accounts have been prepared, checked that the charity can lawfully prepare such accounts, that all the accounting statements are present and that the funds of the charity are correctly identified |
Y | |
| Where accruals accounts are prepared, checked that they complywith the SORP and applicable accountingstandard |
N/A | |
| If the charity is a company, checked that the accounts also complywith the applicable companylaw requirements |
N/A | |
| Noted any implications for the examiner’s report and for separate reportingto the Commission |
N/A | |
| Direction 11: Identify items from the analytical review of the accounts that need to be followed up for further explanation or evidence |
||
| Carried out an analytical review | Y |
| The Directions and documentation | Step done? |
Working paper reference |
|---|---|---|
| Following the analytical review, selected material items in the accounts for further explanation or supportingevidence |
4 | |
| If the accounts could be materially misstated, additional checks were undertaken and the examiner is satisfied that the item(s) identified were satisfactorily explained and correctly included in the accounts |
N/A | |
| Noted any implications for the examiner’s report and for separate reportingto the Commission |
N/A | |
| Direction 12: Compare the trustees’ annual report with the accounts |
||
| Checked that any figure for reserves quoted in the trustees’ annual report is not materiallyinconsistent with the accounts |
N/A | |
| Compared the trustees’ annual report with the accounts for any material inconsistency |
N/A | |
| Noted any implications for the examiner’s report and for separate reportingto the Commission |
||
| Direction 13: Write and sign the independent examination report |
||
| Reviewed the conclusions from the independent examination | Y | |
| Considered whether the examination has identified a matter of concern that should be reported in the examiner’s report |
Y | |
| Checked that the examiner’s report covers all of the matters required |
Y | |
| If relying on the work of others in undertaking the independent examination, the examiner is fully satisfied with their work and that work has been fullydocumented |
N/A | |
| Signed and dated the examiner’s report | Y | |
| Reported matters of material significance direct to the Commission |
N/A | |
| Exercised discretion and reported relevant matters direct to the Commission |
N/A |
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I confirm that I, as an independent examiner, am independent of the charity trustees and am not involved in the day to day running of Leeds rowing club.
-
I confirm that I am sufficiently skilled to carry out the examination as I have two years of experience in financial statement audit.
-
I have confirmed that he balance sheet and statement of profit and loss are mathematically accurate, with movement on balances since the prior period documented.
-
The following vouching checks have been made. Significant items in the accounts were selected and documentation was requested of the treasurer:
-
i. Round sum £25,000 payment The payment in November 2021 relates to the ‘backing the best’ grant of £50,000 relating to the junior program. The two installments of £25,000 each have been agreed to email correspondence from the grant provider.
ii. Purchase of Trailer The purchase price of the trailer has been agreed to the below invoice.
iii. Purchase of new 8+ boat
The purchase price of the new 8+ boat from City of Bristol rowing club has ben agreed to the below invoice.
iv. Closing bank balance
The closing bank balances have been agreed to the Cash at bank figure in the statement of financial position. No differences have been identified
| HSBC Current account Junior account Donations account Membership account Cash at bank per accounts Difference |
£2,744 £23,269 £6,340 £19,822 |
|---|---|
| £52,175 £52,175 £0 |
- Conclusions
Independent examination of the accounts have shown them to be accurate and appropriate. No misstatements have been identified in items selected for testing.
No matters of concern have been identified.
Signed:
E. Morrell
Elizabeth Morrell
26/05/2023