Charfty Reglstratlon No. 1147548
Conyany Reglstratlon No. 07982029 {Engl￿d and Walesl
GLOUCESTER BOATHOUSE LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

GLOUCESTER BOATHOUSE LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr P F Markey
MrSDRose
Mr J C Gamer
Mr Pl J Taylc
Charity number
1147548
Company number
07982029
Reglstered office
Ilar House
1131115 Bath R08d
Cheltenham
Gloucesterthire
Uniled Kingdom
GL53 7LS
Independent examlner
Sardh Case FCA ￿hA
lets Audrt Serw
"Ilaf House
11>115 Bath Road
Cheltenham
G1￿j¢e$Èer$￿lre
United Kingdcrfn
GL53 7LS
Bar*•r•
Uoyds Bank Flc
High Street
Cheltenham
GIoU￿sterShIre
United Kingdom
GL50 1 EW
Solicltors
Harrison Clarft Ri(*wtys LLP
cjo Hwison Clark Ric*erbys Limiled
ElenbDrough House
Wellington Street
Chellenham
Gloucestershire
United Kingdom
GL50 1YD

GLOUCESTER BOATHOUSE LIMITED
CONTENTS
Page
TnJstees' report
Independent examinerfs report
ststement of fin8nc381 athmlies
B8lance sheet
Notes to the fin￿001 *atements
9-18

GLOUCESTER BOATHOUSE LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORn
FOR THE YEAR ENDED 31 MARCH 2021
The trustees present their ret4xt and fin8na81 statements fwlhe year ended 31 Marth 2021.
The financaal ststements have been tKepared in aru)rdan￿ with the aco)unb"ng ￿lICIeS set out in note 1 to
the finanaal ststements gnd compty V•ith the chan￿$ Memorandum and Artides of Assoaation. the
CoMpan￿S Ad 2006 and 'AcC￿nt.ng and RePO￿"ng by Ch8riti"es'. Statement of Rec￿)Mended Prath"¢e
applicable to chanties preparing thety accounts in accord￿ce ￿￿th Ihe Fin*toa Repo￿n9 Standard
applicable In the UK and R8puL4ic of Ireland (FRS 102) leffecb.ve 1 January 2019)"
Objectlves and a¢tlvltl•s
Ob￿ctIveS and aims
The objeth'ves of the rharity are to promole communrty P8rfJ"cipats"on in healthy activities by the provision of
facilities for rowing, canoeing and other sports that are rapat4e of promoting healthy re¢yeth"on. The chanty
Sims to athieve these ob]'eciNes thmugh the ¢xn51Nclion and operation of a new centre for rowng and
canoeing in Gloucester.
The trustees have paid due regard to guidance issued by the Charrty CommissM in de(a(ting vknat aCti￿tieS
the charity should undertake.
Publle bond
The Trustees are aware of the PuÈ4iG Benefit proviss¢Ms of the Charities Act 2011 and of the guid￿rE on them
published by the Charity CommissTron. They are satisfied that the Ob￿Cts of the Charity and the 8ctiwtr.es of the
Charity are wthin the definitions of CharitabFe Purposes as set down in the The TNstees are not aware of
any public detriment caused by the Charitys ￿leCt3 or ac*"wts"es and nor are they aware of 8nyone receiving
any private benefit froffl the Charitys adiwb"es.
Achlevemen15 perfonnance
Charltable activities
During the year 2020r21. the Cow&19 pandemic has severely impaLtsd the acliMti88 of the tharity and tis
users. There were long periocjs wfien the boathouse was dosed due to Govemment enforced lodtdowns aThl
at other kn"me$ users were onty 8t4e to make limrted use of the faulty. It was not posSi￿e for users to run any
events during the year.
Further development of the srte has been limited by lad( of knds and the pandemic has rneant that the
condits.ons have not been right for fUndraI￿n9 athMt¢es or grant apF4icab"ons
many grant giving bodies
stopped tsking ap￿jGa￿.0ns during the pandemio Donations for the year totamed £5.200 induding abjut
£2,000 trom Canoe Club members and most of the rest frL¥n the eff(¥ts of R￿ing Club members.
The spoil heaps from eadier constr¥Jcts'on have finalty been di$￿ed of l¢osts"ng £33,600). ScTeeding has been
put dovm at the first-floor entrance Ic4Jsb"ng £900). The cyjnduit for the phone l intemel connects.on has been
laid across our srte tNJt connects.on to the ne￿Ork 1$ unlikdy to happen vthile the adjacent Comd t￿ts"n9 centre
conts.nues to operate.
Constwclion of 8ddition81 external ra¢kFng to accommodate boats brwghl ste s•then the old boathouse
dosed in September 2020 has been started and the work wll be completed as soon as Iot*down restriction$
pemiit. The wor* has mosljy been done by vobjrrteer labour trom the Rowing Club.
Assets bought this year were a lawn mthver Iwhith rpduce property M*nten￿te costs in 2021r221 and
accessories for a boat rack Ulvned by Gloucester Rowng Club to enatle it to be used as a mokn.le rad( within
the boat bays.

GLOUCESTER BOATHOUSE LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
Flnanclal ￿vIeW
Principal funding 3ource•
Dunng 2020r2021, the CoNi&19 pandemic has Se￿ impa¢Aed the usets. ath"Mts"es Ythith in redur4d
GBL'S incThne. To ease any finan(i81 p￿sSUre on the user organisations. GBL reduced ils storage fees by
20% for the year but this was more than compensated for by NNDRknrelated grants from the Govemment
lotalling £42,500. The re(luced aclimty did reduce GBL expendthjre during the year. The overall outcome was
8 surplus of £4.701 ￿ the operational incx>me and eypendilure. exduding grants and dgn*ions.
AS 8 ￿su￿ the tharity has recorded a surplus of £20,12512020'. £67,122), 8n additional £2.750 set asde
for fiJiure maintenance. The chanty ha5 totsl unrestsided fijnds carried forward 01 £54,50912020.' £24.5641,
which £5,000 is earmarked lor installing pennanent balustrades on Ihe extern￿ slaircase as a result of
previous fijnd raising by user5, and resln.cted funds ¢8rried fryward of £1,436.41312020.' £1,446,233). The full
details of these are given in the notes to the am)unts.
The Injstees are satisfied vthh the results for the year but recognise the ongoing wuirement to generate
fijrther income to ensu￿ the witinued athieknEment of the thanty's obJ"ecb"ve.
R•senwes pollcy
The trustees have forecasl the lewel of free reserves (thal is Ihose reserves not b.ed up in fixed assets.
resth"cte(J or destgn8ted 1undsl the tharily *ill require to sustain operations.
It has been the pc4icy of the trustees to hotrj al least 50% crf the thwity$ annud Nnning costs ￿thIn free
reserves. Running costs f(* 2021r22 are predithd lo be £38.800 and accordingly the reserve8 be
£19,400.
The De&gnated Funds are for the purpose of meet.ng GBL'S ob1￿a￿"0n to contn"bLrte 5% to the ￿$t of
maintaining the m8in Hempsted Meadows site mad., al the end of FY 20r21 the fiJnd Stood at £2.750. In the
fvture, this fvnd wll also be used as a ￿nkn"ng fijnd for caffwng wt maintenance on the boathouse and
associ8led assels. For now. to wotecl against the possibibty of unexpeded maintenan(t costs. the Trustees
aim lo in￿aSe the operab.onal reserve to £25,000 rather than inLYease the De￿gnated Fund.
The TeseTrEs requiremerrts have also been taken a￿ount of as part of the risk assessment referred to below.
As further facilities are completed, income and expenditure ￿111 rise and the reserve requirement be
reviewed to ensure rt Is maintained at an appmpnate level.
v•stment polcy and oftlecthles
Under the Memorandum and Arlides of Association. the tharty has the power to invest in any way the
trustees wish.
Rlsk management
The trustees have examined the princapal areas of the tharity$ operations and considered the major risks
fa￿d. In the opinion of the knJstees, the tharity has estabtished resources and reNiew systems which, under
normal conditions, should allow these risks to be M￿g*ed to an acceplable levd in tts day-lfrday operations.

GLOUCESTER BOATHOUSE LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORD (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
Plan• fwfubjre perfod8
In the coming year, the pnorities Wbl be to.. open Ihe ffoor and fit il as 8 gym.. improve the surface of
the acLess road leading to our Ste.. fiJrther develop the first of the t￿￿se.. and inc¥ease operationar
use. There also be some maintenance tasks arising from wear and tear on the fabric., some of b8ve
been detsyed due to the pandemi
Opening the 2nd floor and filts.ng (( out to take existing gym equipment and eryos esb'mated to CA)St £71,000.
A grant of £33,C#JO has been promised by Sport England condibon81 on the remainder of the fiJnd5 being
raised by July.
The last sedion of Ihe Hempsled Meadows sile mad leading to the boalhouse gle has neMEr been ccrfnpleted
and it is in a poor state of ￿paIr. Previous efforts to patth the potholes have not lasted long and it has become
a priority lo effect better repairs and lay a permanent surface. Any work done requires the apwoval of the Crty
Counal as landowner but the Cr*Jnc41 is unlikely to be wlling to share the cost,. inTti"al wth Counal
offiaals has confirmed approval for the wiwks (subject io any planning C￿nsent requiredl. The cost of
preparing the road fN resurf8ciri9 is esttmated to be about £1.0￿ and re5urfaang about £15.000. The initi31
preparatson will be paid for trom cperational reserves bui it will be neCe￿ry to rarse *)therfunds to Pay for the
surfaang.
It is expected that the area formerty ocupied by the swl heap b& landscaped using volunteer effort
It was ak¥ays intended that operational use of the building w0￿d be managed by the users. A User Committee
was fomed in 2017 but rt needs to be re4nMgoraled and this V*ill be addressed a5 lothduwn ￿$(ri¢￿'0￿5 arg
lrted.
There wll also be a push to In(￿aSe Health & Safety Awrness among usu& Some prep￿￿ work lo
im[￿0Ve GBL H&S pKoce55es has already been done.
It is sts'll our aim to recfuit a part-time boathouse manager as soon as p0s￿ble The rde indude overseeing
JTrenl operab.ons and supporting new inits8tives to bnng ffl￿e users to the faalty. As r￿/ ac*"Tr*lies increase
rBv8nue. rt is expe¢Aed that wll fiJnd inueased hour5for the boathouse manager.
Prior to Ihe arrival of the adJ"acent comd testing ¢￿tre, ac£ess to our site was restri(*ed by the limited
distribubon of keys for the City Counc41 cMtroOed barrier at the Hempsted Meadows entrance. Dis¢ussons
ave been held with Counal about how access can be Im[￿0ved ￿en the testmg ￿tre le8*s {possibly later
in 2021 or more likely in the Spring of 20221. Some opb.ons are under consideration bLrt the Council is
unwilling to cxjmmit to anything until the future use of the site is dearer. Whatever the out¢ome. GBL and rts
users will be expected to ￿nIn'bUte to any improNEments to access wTru"¢h may u)sl up to £50,000.
Fund TrlJing forfurthw constructton
To fund our plans for the coming year at least £58,OCW] is requirEd- balustr8de$ ÈS,000, gym £38.000 and ste
road £15.000. At the end of 20r21 there was £51,759 available wrthin general Un￿StrIded filnds and
donation of £5.000 was received in ea￿ April.
Grants lotalling abrrtrt £15.01]O have been a￿led for to support the gym development and some additional
applicabons for smaTher amounts w7118lso be submitted." there is no guarantee that any of the bids will be
successlul. There are plans for a tsrgeted appe81 for donations that be made soon and tentstive plans for
additional fijnd raigng 85 the CoNitJ restrith'ons ease later in the year.

GLOUCESTER BOATHOUSE LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
stNclure% govemance and management
Govemlng document
Gloucester Boathouse Limited is a company Iwnited by guarantee, govemed by its Memorandum and Art'des
of Assoaalion vthith were ￿vIsed and adopted 29 Fet￿ary 2016. The CoM￿Y was inrjyporated on 8
Marth 2012 and was registered as a tharity on 31 May 2012 tmth the Chanty Commission.
The mernbers of the company a￿ GIOU￿st¢r Rowng Club Ltd. Che￿enhaM Ladies College and Harwry
UniverW. In the event of the u)mp8ny being wound LÈP. the liabilrty in respect of the gLtarantee is limited to
£10 per member of the company.
In 2018, Hartpury &￿ege became Harwy Univeth under a statutory instrurnent made by Par1￿mellt ISI
No 20181927). From 14DriI 2021, the operalion of Gloucester Rcpmng Cfub wll be conduded by Gloucester
Rwng Club Ltd. To reflect these thanges a Deed of Novab"on has been signed (dated 1214r21 but wef
114r21) to update the 2016 Investor Member5 Agreement between GIou￿Ster Boathouse kn"rnited and th8
three member organisats"on& S￿"eCt to by the Chanty Commiswon, Ihe AJlide$ ofAssociatson wiu also
be updated.
The tnlstees, who 8re also the diredors for the purpose of ￿rnpanY law. arKI seThed during the year and
up to the date of Signatu￿ of the finanraal statements were..
Mr P F Markey
MrSDRose
MrJ C Gamer
Mr M J Taylor
In acconlanee wth the Artides of Assoraation. there shal be no more than nine trustees and no fewer than
th￿e. Eath shall serve a minimum term of three yearn, wrth the excepts.on of Nominated Trustees from
Gloucester Rowing Club. Chdtenham Ladies Comege and Hartwry Cdlege. shau setve for as long gs
th￿r home toanisats.on th￿Se$.
A total of seven nominated trustees may be apwnted by the M￿nb￿ ond Certain u%r cryanisalion4 and
vo appointed Irustees may be 8w)ointed by the nominated trustees.
Ctynisatlonal structure
The tharity is govemed by rts trustee3 who are responsit4e for fcrfmulaling the strategies and poliaes of the
charity induding the exercising of financial corrtrol&
The trustees, from time to time. TrMII 8pp(xnt the members of an CWats"or￿l Commrttee vknith contrc4 the
day to day organisats'on and running of Ihe tharity.
Induct5on and tralnlng ol newtnmtees
All new trustees are given an indudion session where Ihey are made aware of th￿r leg￿ okAigab"ons as
trustees of a co￿orate th*ity. Al trustees gi¥E theirtime K￿rilY and receibE no benefits from the chanty.
The trustees. reportwas approved by the Board ofTruslee&
Trnstee
Dated". 13 September 2021

GLOUCESTER BOATHOUSE LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF GLOUCESTER BOATHOUSE LIMITED
I report to the trustees on my examinatFon of Ihe fina￿al statements of Gloucester Boathouse Limited (the
charity) Yor the year ended 31 March 2021.
Respon$lbllttle$ and ba¥ls of report
As the trnstees of the thanty land also its dire￿015 for V)e purposes of company lawl you are responsible
for lh& weparats.on of Ihe finanaaj statements in accordance ￿ the requirements ol Ihe Companies Act
20C6 (the 2006 Act).
H8wng satisfied myself that the financAal ststements of the tharrty are not required lo be audrted under Part
16 of the 2006 Act and are eligible for independent examinalion, I report in re5pe¢A of my examination of the
charitys finanaal statements caffied out Untjer section 145 of the charib.es Acl 2011 (the 2011 Attl. In
carrying out my examinats.on I have fdlry*e(1 91 the awAicable D￿e￿￿On5 giNtn by the Charity Commission
under 5eth.on 14515llbl of the 2011 Art
kndependent examlnefs •laternnt
I have completed my examinab"on. l ¢onfimi Ihat no matters have c4Jme to my attenb.on in connection
tr¢e examination giving me cause to believe that in any material respe
accounting records were not kept in respect of the tharity a$ required by seLlion 386 of Ihè 21]l% Act..
the finanad statements do rn)t acoyd vAth those records.. or
the finanaal statements do not compty V￿th the accounting requirem8nts of seclion 396 of the 2006 Acl
other than any requirement that the accounts give a true and fair View is not a matter C*Jnsidered
as part o18n independent examinats'on. or
the finanoal statements have not been WBPa￿d in awdance with Ihe methods and wnc4ples ol the
Statement of Recommended Pr8dr¢e for a(fA)unting and reporbng by tharitss applicable to tharits'es
preparing their accA)unt$ in accordance wth Ihe Finanaal Repo￿"ng Standatd aw4i¢aL4e in the UK and
Republic of Ireland IFRS 1021.
I have no conc4ms gnd have o)me a(xoss r¢0 other matters in connecton the examination to whk
attenbon sh¢)uld be drawn in this report in orderlo ena￿e a proper undersl8nding of the finanaal statements
to be reathed.
Sarah Case FCA DChA
Azets Audit SeNces
Pillar House
113-115 Bath Road
ChelteTrham
Glouceslorshire
GL53 7LS
United lfjngdorn
Datod.. 16 September 2021

GLOUCESTER BOATHOUSE LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2021
Curvent flmnclal year
Total
lunds
2021
fvnds
2021
20
2020
Donats"ons and leg4aes
47.709
47.709
90,541
Use and rental of fauhties
29,020
29.(r20
40,226
Tolal Incom•
76.729
76,729
130.767
Use and rentsl of faalib.es
Other ￿sts
14,663
14,e63
41.941
27,083
36.562
32.358
Total Charllable expendltwe
24.246
32,358
63,645
Net Incominglloirtgolngl rn*our¢•s befor•
52,483
132.3581
20,125
67,122
Gross transfers belween funds
(22,53BI
22.538
Net IncoTrxl{expen(rrturel for the yearl
Net movement In lund$
29,945
19,8201
20,125
67,122
Fund balances at 1 April 2020
24.564 1.446,233 1.470,797 1.403,675
Fund balancu at 31 March 2021
54,509 1.436,413 1.490,922 1,470,797
The Statement of financial adiwbes indudes all gains losses reccqnised in the year.
Ail income and t%￿rtUre dwive fT(ffn ccffttynuing a(knbes.
The slatement of finanaaE athvitie5 also COMFI￿9 with the requirements for an incune and expenditure account
under the CompaniesAct 2006.

GLOUCESTER BOATHOUSE LIMITED
STATEMENT OF FINANCIAL ACTRVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2021
Prfor fln4n¢lal year
Unrestrlcted Restricled
fund¥
nds
2020
2020
Tot*1
2020
Nrt•$
Donations and legacies
In
efrom
arita￿e activiti
Use and ￿nt￿ of facdities
3.041
87.500
90.541
40,226
40.226
Total income
43.267
87,500
130,787
Use and rental ol facihtses
Other costs
27.083
6,383
27,083
36.562
30.179
T1￿1 charftalAe expenditure
30,179
63,845
Net Inc¢)mlngl{outgoing) re•ource• befove transle
9,801
57,321
67,122
Gross translers befvRen lunds
(12.210)
12,210
Net In¢omellexpendlturel for the
Net movement In fund$
(2.409)
69.531
67,122
Fund balanc8S At 1 April 2019
26,973 1,376.702 1.403,675
Fund balances at 31 March 2020
24.564 1.446,233 1,470,797
The ststement of fin8nc981 adivilies indudes all gans and k)sses reo)gnised in Ihe year.
All income and eypBndilure derive from cth)tynu¢no aQivilie&
The statement of finanrial aclivities 81so ccrfnplies wth the requirements for an income and expenditure accwnt
under the Companies Act 20CIS.

GLOUCESTER BOATHOUSE LIMITED
BALANCE SHEEr
ASAT31 MARCH 2021
2021
2020
Notes
Flxed assets
Tangible assets
Currnnt assets
Debtor3
Cash at bank and in hand
1.441,141
1.439.877
5.026
91,497
1,720
67.464
gS.523
69,184
Creditor¥: amourt• falNng due wlthln
one year
146.742)
138,264)
Net oJrrent assets
49.781
30,920
Trthl asséts l•ss eumint U•blllll•s
1,49),
1,470,787
In¢ome fvnds
Reth"cted lunds
13
1.436,413
1,446.233
Designated funds
General unre5tn"¢Aed lund3
12
2.750
51,759
1.750
22,814
54.509
24,564
1.490.922
1.470,797
The company is entslled lo the exempb.on from the oudit requirement D)nlained in sec*"on 477 of the Companies
Act 20C6, for the year ended 31 Marth 2021.
The INsloes aCknO%￿edge th*r responsitrM"litses for ensunng Ih81 the charity keeps accounting reo)rd$ vknith
comply with section 386 of the Act and fcK prewing finanaal statements give a true and fair view ol the
state of affairs of the company a5 at the end ol the financial year and of its incoming resources and application of
resources, induding rts irKoffle and eypenditure. for Ihe finanaal year in aC0)rdan￿ the ￿qU1￿mentS of
sections 394 and 395 and which otherwise comply the requiremerrts of the Companies A¢A 2006 relating to
financ4al statements, so far as applicable to the company.
The members have not r8qLHred the company to obt*"n an audrt of its financia ststements for the year in
quests.on in acc(Ydance with sec*on 476.
The6e finanoaS statements have been prepared in aCc(xd8n￿ the promisions aFplicable to companies
subject to the smal companies regime.
The finanual statements were appTDN*d by th& Trnstees on 13 September 2021
MrSDRose
Tnjslee
Company R•glstratton No. 07￿2029

GLOUCESTER BOATHOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
Accounting p(4l¢les
Charlty Infornmtlon
Glotjcesler Boathouse ￿Mited is a wivate (x￿nP8nY limited by guarantee incorporated in England and
Wales. The regISte￿d office Is Pillar House. 1131115 Bath Road. Cheltenham, GIouE*Stershire, GL53 7LS.
Unrted ￿"ngdoM.
The liabih'ty of the members is limiled and ea(* has untjertgken to contribute a sum not exceeding £10 in
the event of the winding up of the Djmpany.
1.1 A¢¢ountlng ¢4)nvenllon
The financ481 statements h8ve been prepared in aCcc¢dan￿ with the charity's goveming docjdment. the
Cixnpanies Ad and "ArU￿n￿"ng and Repcrfly"ng by Charibes" Statement of Recommended Praclice
applicable to tharits.es preparing their a¢£ounts in a(xxJrdance V*ith the Finanaal Repo￿"ng St8ndar¥J
applicable in Ihe UK and Republic ol Irdand IFRS 1021 leffecb.ve 1 January 2019)" The thaÈity is a Public
Benefit Entity as defined by FRS 102.
The thanty has taken adYJntsge of the provI￿On5 in the SORP fN smaller tha11￿e$ not to prepare a
ststement of Cash Flows.
The financtal statements aiE Fry*Ed in stetth"ng. is Ihe fvnctional cU￿encY of Ihe thanty. Monetary
amcyjnts in these fina￿la1 SLitements rwnded to the r￿areSt £.
The financial statements have been wepared under the hist￿Cal cost convention. modified to indude the
revaluation of treehold [Kope￿"e5 and lo indude investment properties and certain financial insbiJnMIs 8t
fair value. The prinapal accounts.ng polioes adopted are set out below.
1.2 Golng con¢em
At the time 01 appro¥ing the fin8na81 ststements. the trusiees have a reasonat4e that the
tharity has adequate resources to conb.nue in op￿￿'onal e￿stenCe for Ihe fcffesee8ble lubjre. Thus the
trustees contsnue to adopt the gOWIg con¢em basis of acccMJnb"ng in preparing the finaft0￿ statements.
1.3 Charflable fvnds
Unre5tricaed lund$ a￿ avwlat4e for use al the disuets.i￿ of the Irustees in further8nce of th￿r charitat4e
objectives.
Designated funds comprise fvnds ha￿ been set a&de at the dis(xelion of Ihe trnstees for ¥ecific
pU￿OseS. The purposes *KI uses of the ￿￿gnated funds are set (￿rt ￿ the notes to the fin8nu81
Restricled funds are subjeci to specTfic condilions by donors as to how they may be used. The purposes
and use5 of the restricied funds are set wt in the noles to the financial statements.
Further explanati￿ ol Ihe nature and purpose of eath fijnd is induded in the nole$ to the finanLyal
Statements.
1.4 Intomlng resources
Income is recognised vthen the tharity is leg￿ enblled to it after wy perfomiance conthb'ons have been
me( the aM￿JnIS can be measured reliatdy. and it is Fwobable Ihat income be recaved.
Cash donatrons are ￿￿nIsed ￿ reC￿l Clher donalians are rec£wFised once the d￿lity has been
nob.fied of the donation, unless pwfom8ntx cOnditi￿S reqLHre deferral of the am￿nt InGome tax
recoverable in relab.on lo donath.￿S received under Gfft ￿"d or deeds of covenant is fecognised * Ihe time
of the don8ti0n.

GLOUCESTER BOATHOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
A¢¢ountlng pollel•s
Icontlnued)
Lega¢ies are Tecognised ￿ r￿1p1 or othe￿ise rf the tharity has been notsfied ol an impendrng
dislribub"on. the amount is known, and recapt is expe¢Aed. If the am￿nt is not known. the IBgaGy is treated
as a conb"ngent 8sseL
Assets given for use by the tharity are reC￿gniSed when rec•V8￿*.
Income trom govemment and other grants 15 recognised the thaiity has entiuement lo Ihe funds, any
performance conditi'ons attathed to the grants have been meL it is prrt*atle that the income wiN be
received and the amount can be measu￿0 ￿￿'8bly.
Inccffle from use and rental of facil￿8$ is measured at the fair vakbe of the consideration recaved or
receivable and represents ￿noUnts receivable for goods and Se￿iceS probided in the nDrm81 of
busnes3. net of di5￿Un￿ VAT and other sales related taxe&
1.6 Re•our¢es el￿nded
Liabilities are recfjgnised as expenditure as soffi as the￿ is a leg81 or constsuctiNE o￿lgatiOn committing
the charity to that expenditure, it is probable that a tr8nsfer rrt economic beneffts will be required in
sethement and the amount of the obligab.on ogn be measured reliably. Expenditure Is accounted for on an
accruals basis and has been dassFfied under headings Ihat aggregate all c05t related to the category.
Where costs cannol be ¢Jir• 8ttn"bvted to parli￿lar headir*gs they have been allocated lo activ￿"e$ on a
b88is con&stent with the use of resour￿ SLtpport costs are allocated to actiwti'es ijn an ataual invJrred
basi&
Irrecoverable VAT is charged against the categ￿Y of ￿ts0￿r¢e$ expended for it is incurred.
1.6 Tanglble flxed assets
Tangible fixed assets are insbaly meawred st C¢￿t 8nd subsequenty meA￿d al cost or valuatson. net of
depreQab.L￿ and any impainnent105ses. C05t indudes wrthase cost and otsr costs threctly attributable
to making the asset capable of operatsng as intended.
Deweciation is recognisèd so as to wriie off the cost ￿ T￿u8110n of assets less their residual values over
their useful lives M the following bases..
Freehold bU1￿1ng5
Fixtures and fittings
Freehold land
2%- 10% straght Sne
20% straight line
nla
Freehold land and assets in the ¢)Jurse of constnK*ion are not deF￿eCla1ed.
Assets under the CA)urse 01 ccffistrUcli￿ relates lo the Costs of the owoing build proieci for the new
boathouse. indudirwj those the company has a c￿S1￿c￿ve obligation to CAJmplete. Assets
reicognis•d under a cons1TU(*NE oblbgaljon are measured at the In￿al estr.mate of the cost to fulfil that
obligation.
Freehold propth relates to the phasgd ¢￿StrUc110n wc¥ks. Deweath"on h85 oy)mmenced as the majority
ol the build is now complete and the building is now in use.
1.7 ImpilTMe￿ of flxed assets
At eath reporb.ng end date, tr* tharity re%iews the car￿ng ¥m￿nts of rts tangible assets to determine
whether there is any Indicati￿ that those assels have sufferefl 8n impairnient loss. If any such indub.on
exists, the recOveral￿e amourrt of the a55et is estimated in order to deterniine the extent of the im￿81M7enI
loss Irf any).
10-

GLOUCESTER BOATHOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
Ac¢ountlng polle￿8
Icontlnuedl
1.8 Cash and ¢ash equlval•nts
Cash and cash equNalents indude ￿$h in hand. dep034ts held at Gall V•ith banks. other short-term liquid
investments with original maturities of th￿¢ months or less, and bank overdrafts. Bank overdrafts are
shown wthin borr(wing$ in current liabilities.
1.9 FIMn¢lal In¥tnun
FInana￿ instruments are recognise(l in the chaiity's balance sheet vthen the tharity becomes party to the
eontrarAual provisons of Ihe instrument
Finanaal assets and liabil￿"eS are offset, the net amounts presented in Ihe finanaal statements. when
there is a legally enforceable right to set off the ftcthjnised am(Mmts and the￿ is an intenb.on lo setde on a
net bags ￿ to rea￿se the asset and setlle the ￿Stillity %mullaneously.
Baslc ffnan¢lalassets
Basic finanoal assets. vthith indude debtots and cash and bank b818nces, are initialy measured
tr8nsathon price induding transaction costs and v*e subsequenlly carried at aM[￿￿"Sed cost Using Ihe
effecb've interest method unless the aTrangement consbtutes a finanryng transac*on, where the transacb.on
is measured at the present value of the ftrture rewpts discounted at a markel rate of interesL Finanri81
assets dassrfied as receivable within one year are not aM0￿.$ed.
Ba¥k ffnaneial liabililies
Basic financ¢al liabilities, induding c¥ethtoTr and bank loans a￿ initiolly recognised at transaction price
unless the arrangement consliiules a finanang transai*on, the debt instrument is rnea5ured at the
present value of the luiure payTrents discourrted at a market rate of interesL Finanoal liat¥1￿.es dasyfie
as payable one year a￿ not am￿lIse(l.
Debt instrufflents are wbsequentty cwried at amortbsed ItJy( using the effeclive u7tere8t rate methc*J.
Trade ¢7editors are otdigations to pay for goods or serviw that have bean ai>winl in the ordinary course
of operatrons from suppliers. hrn¢)unts p8y81Ae are dassified as c￿rrent liabilib.es rf paymerrt is due wthin
one year or less. If not. they a￿ presenled as noHJJrrent liabilAies. Trade uedrtor5 are recognised inibally
at transao*"on pnce and subsequenty measured at amortised cost ￿￿ng the effethve interest method.
Finanual liabil¢bes a￿ dere¢)Jgnised when the charitys c(mtraclual otligations expire or are discharged or
cancelled.
1.10 Taxation
The tharity is exempt frirfn corporation lax on income and 98ins falling wthin sethon 505 of the Taxes A
1988 or section 256 of the Taxatson ol Ch8rgeak4e Gains A¢t 1992 to the extent that these are applied to
the tharitsble c*J'ect
1.11 Provlslons
Prowsions are rer4wni$ed wthen the ttiarity has a legal or construdive present obligabon as a re￿IL of a
Past event. it is probable that the tharity 4MII be required to settle that obligatson and a reliabk estimate Can
be made of the amount ofthe oblbgation.
The amount recognised as a prOVi￿on is the best eslimate of the c4)nSIderati¢￿ required to settle the
present obligats.on at the reporb.ng efHI date. taking into 8LXX)unt the risk$ and uncertainties surrounding the
obligats"on. ￿ere the effed of the b.me v81ue of M*￿eY is materiaf. the amourrt expected to be reqsjired lo
settle the obligation is recognised at present vahje. lthen a pro¥isTron is measured at present value, the
Un￿ndIng of the discount is rBcognised as a finance cost in net inc0melle￿endItrjre1 in Ihe period in wlNth
rt arises.
11

GLOUCESTER BOATHOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
Donation¥ Ind lega¢l
Unrnstrl¢led Unrestrictsd Resthc1ed
funds
d5
funds
20
2020
2020
Totsl
2020
Donab"Dns and gffts
Grants
Donated goods and services
5.209
42.500
3.041
50.000
53,041
37,500
37,500
47.709
3,041
87.500
90,541
Grnnts veceivable for ¢ore actlvltl•s
CotridNNDR related govemment grY4ts
42.5LNI
42,5fy)
Donated goods and •er¥l
In the prior year donated We￿ received in Ihe fcKm of cfedil notes totslling £37.500 to be offset
against costs in￿rred. No suth income was received in the Current finanaaf peTtod.
IncomE from Charftal￿e a¢Uvlll•s
Use and
Use and
rentsl ol rental of
f4clllde$
facllitles
2021
2020
Use and rental of faiilitses
29,020
40,226
12-

GLOUCESTER BOATHOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
ExpendItU￿ (
charttable a¢tlvllles
11 ol fxluties
Depreciation and
impaimenl
Rates. ulilities & deaning
Web o)sls
Fund raising costs
Bank (*)arge$
Health & safety
W8s18 dispos
Insurarbce
33,898
33,898
12.281
57
31.596
31,5
23,563
60
236
87
2,248
1,272
3,721
12.281
23.563
57
60
236
87
81
81
1.517
1.517
2.248
1.272
3,878
3.878
3,721
14,663
38,110
52.773
27.083
35.7C#J
62,783
Share of govemarKe costs
(See note 5)
3.831
3,831
14,663
41,941
27.083
63.645
Anatysls by fund
Unrestricted funds
Restrithd funds
14,663
24.246
32.358 32,358
27,083
33,466
30.179
30,179
14.663
41,941
27,083
36,%2
63,645
Supwt ¢osts
2021
Support Govemance
osts
2020
costs
Accountancy fees
Legal fees
1.196
2,635
1,196
2.635
3.831
3,831
Anatysed be￿een
Charitable adiMtse$
3,831
3,831
None of the tFUStees lor any ply3￿$ C￿nec*ett V•th them) remuneration, other beneffts
reimbursement of eypenses from the thaity during the year (2020". £Nill.
13-

GLOUCESTER BOATHOUSE LIMITED
NOTES TO TrIE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
Enyloyee$
There were no em￿oYeeS during Ihe year {2020." None)
TangllAe fixed *5sets
At 1 April 2020
Additions
1.440.426
34.550
7,085
612
63.108
1.510,619
35,162
At 31 Marth 2021
1,474,976
7.697
63.108
1.545.781
Ehpreclation and inyalrnxnt
At 1 ￿ri12020
Dwe¢jat[￿ thgrged in the ye8r
69.313
32,358
1.429
1,540
70.742
33,898
At 31 March 2021
101.671
2.￿9
104,640
Carrylng amou
At 31 Marth 2021
1,373.3D5
4.728
63,108
1,441,141
At 31 M8rth 2020
1.371.113
5,656
63.108
1.439,877
2021
2020
Amwnts fallng due *ithin one year.
Trade debtors
Cxher debtors
PrepayThents ar￿ acuued incclne
3.552
1,474
192
1,419
5.026
1,720
10 CrpdltoTr: amDunts falhig due vlthln one y￿r
2021
2020
Other taxatson ￿￿1 sooal se(wiity
Tr8de aEdrtors
ACC￿alS and deferred inccffie
17,362
29,380
3,622
34,556
46,742
38,264
Induded within acL¥uals and deferred income are amounts loialing £25,43012020'. £33,343) in relthon to
rad(ing fees invoiced in 8dwan¢e. These amounts be recognised in income v*hen the rjiteria for income
re0))gn￿.0￿ are meL
14-

GLOUCESTER BOATHOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 hlARCH 2021
12 D•slgnal•d lunds
The income funds of the thanty indude the fdlowng designated funds have been set a$￿e out of
nrestricted *Jnds by the trustees for speafic pU￿oSes..
Movement In fun
31 M￿￿ 2021
Designated funds
1,750
1.750
1,QY)O
2,750
1.750
1.750
1.C(10
2,750
Designated ftjnds ts18te to amtyjnts set aside by the Trustees for fuhwe repairs lo and maintenance of the
site access road.
16-

GLOUCESTER BOATHOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
14 Anatysls of net assets bet*Ten funds
UnTp¥trirtsd Restslcted
fvnds
fund$
2021
2021
Tolal Unrestn'cled Restricted
funds
fijnds
2020
2020
Total
2021
2020
Fund balan￿S at 31
March 2021 ore
represènted by..
Tangible a55etS
CU￿ent assetsl
(lla￿.11tieSl
4,728 1,436.413 1.441.141
5.656 1.434,221
1,439,877
49,781
49.781
18,908
12,012
30,920
54,509 1,436.413 1,490.922
24,W 1.446,233 1.470.797
15 Flnancial conwnllment4 guarantees and ￿rtIngent Nabiths
As al 3f March 2021 the Chanty had an otherfin8naal commthent of £500,00012020". £500,000) that only
becomes due should the Charity deo¥Je to sell the Freehold property for ￿1¢h certain grants have
p￿￿7￿51Y been received. There were no significant other finanaal commitments. guarantees or contingent
liabilities as at 31 March 2021 12020= £Nil).
16 R•lat•d party transactlons
During the year the tharrty trustee S Rose w8$ 81s0 ￿ offiaal of (Jou¢ester Rov•ing Club. Gloucester
Rowing Club made donab.ons to the thanty during the year wth a value of £Nil12020." £50,OL)01 and wa8
tharged usage fees of £13,440 12020". £22,104). Wthin rxedrtors al the yeaf end is £18,664 12019".
£18,500) relats.ng lo GIOu￿ster Rowing Club fees paid in advan￿.
The tharity tnjstee P Markey is olso a dire¢lor of Markey Construction Limited and MG Markey Group
Limrted. Dunng the year, Gloucester Boathouse purc*Jased £8SO {2020'. £23,865) of services from Markey
Construction Limrted and received donated services in the form of credrt notes totaming £Nil 12020".
£37,500) from MG Markey Group Limited to ts offsel against amounts owed to Markey Constructwi
Limited. At the year end amounts owing to Markey Consiruction Limited totalina £Nil are induded wthin
trade creditors {2020". £Nill.
18-