Docusign Envelope ID: 4547FA94-E3D9-892D-83B6-FFC1D12E371B ## **REGISTERED COMPANY NUMBER: 08002910 (England and Wales)** ## **REGISTERED CHARITY NUMBER: 1148787** ## **PHOENIX CANOE CLUB LIMITED** **Report of the trustees and** **Unaudited financial statements for the year ended 31 December 2025** Page 1 Docusign Envelope ID: 4547FA94-E3D9-892D-83B6-FFC1D12E371B ## **Phoenix Canoe Club Limited** ## **Contents** **For the year ended 31 December 2025** ||**Page**| |---|---| |Reference and administrative details|3| |Report of the trustees|4 to 10| |Independent examiner’s report|11| |Statement of financial activities|12| |Balance sheet|13| |Statement of cashflows|14| |Notes to the financial statements|15 to 25| Page 2 Docusign Envelope ID: 4547FA94-E3D9-892D-83B6-FFC1D12E371B ## **Phoenix Canoe Club Limited** ## **Reference and administrative details** **For the year period ended 31 December 2025** ## **Registered company number** 08002910 (registered in England and Wales) ## **Registered charity number** 1148787 ## **Registered office** Suite 115, Devonshire House Manor Way Borehamwood Hertfordshire WD6 1QQ ## **Incorporation** The charitable company was incorporated on 23[rd] March 2012. ## **Trustees** Andrew Moore (Chairman) Dittany Bak Olesen Megan Chidlow (Treasurer) Frances Edwards Amanda Gordon ## **Independent examiner** Capital Tax Accountants Limited Suite 115, Devonshire House Manor Way Borehamwood Hertfordshire WD6 1QQ ## **Bankers** Barclays Bank Ruislip Leicestershire LE87 2BB Page 3 Docusign Envelope ID: 4547FA94-E3D9-892D-83B6-FFC1D12E371B ## **Phoenix Canoe Club Limited** ## **Report of the trustees** ## **For the year ended 31 December 2025** The trustees who are also directors of the company for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2025. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice Reporting Accounting and by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The company has no share capital and in the event of liquidation or being wound up the liability of its trustees is limited to £1. The trustees meet regularly throughout the year, with the Centre Development Director. The board of trustees are committed to refreshing the Board when appropriate with new trustees who have the skills and networks needed to help the charity achieve its goals. The trustees have overall responsibility for approval of strategy, policies, plans, risk management, staff appointments and finance. The day-to-day management of the charity is delegated to the Centre Development Director and Centre Activities Manager. ## **Public Benefit Statement** The trustees have had due regard to the guidance issued by the Charity Commission on public benefit when reviewing the charity’s aims objectives and planning the future activities. Sport England research shows that boosting participation in sport can generate a variety of socio-economic benefits. Sport can and does make a profound and positive impact on individuals, communities and wider society. The charity considers that its activities lead to significant public benefit in the areas highlighted by Sport England. ## **OBJECTIVES AND ACTIVITIES** The charity’s objects are the promotion of community participation in healthy recreation for the benefit of inhabitants of Greater London and surrounding areas by the provision of facilities for kayaking, canoeing and other outdoor sports. The Phoenix Canoe Club and Phoenix Outdoor Centre are located next to the Welsh Harp reservoir on the borders of the Boroughs of Barnet and Brent between West Hendon and Wembley. The outdoor centre runs a range of activities for schools, youth and community groups aged from 9 upwards and adults offering: Kayaking Canoeing Bell boating Stand-up paddle boarding Sailing Windsurfing Raft building Powerboat training Orienteering Team building First Aid training Forest Skills The club is very active, meeting most Sundays at the reservoir as well as running a wide selection of river trips and training throughout the year. As well as main stream schools and groups, we welcome participants with additional needs or challenging behaviours. We work closely with a wide variety of specialist groups and organisations to help promote education, personal development and integration in a safe, fun and adventurous environment. Page 4 Docusign Envelope ID: 4547FA94-E3D9-892D-83B6-FFC1D12E371B ## **Phoenix Canoe Club Limited** ## **Report of the trustees** ## **For the year ended 31 December 2025 (continued)** The ethos behind all of our activities is the positive development of young people through sport and activities. As well as learning new skills and having fun, we aim to help unlock young people’s full potential, build confidence, self-esteem and develop other beneficial life skills. Phoenix Outdoor Centre is licensed by the Adventurous Activities Licensing Authority for Kayaking, Open Canoeing, Bell Boating, Improvised Rafting, Sailing and Windsurfing (L72641/R1940). Phoenix Outdoor Centre is a recognised RYA Training Centre for Dinghy Sailing, Windsurfing, Power Boating and First Aid, RYA Sail ability Centre and a Paddle UK Delivery Partner. Phoenix Canoe Club is affiliated to Paddle UK and is accredited with Sport England’s “Club Mark’’. ## **ACHIEVEMENT AND PERFORMANCE** The Club and Centre delivered a full programme of activities in 2025, following the disruption caused by the de-watering of the reservoir in 2023 and 2024. The widened slipway constructed in 2024 has significantly improved access to the water, and the marginal planting on either side is now well established, providing cover for nesting wildfowl and a valuable food source for birds. Our Centre Activities Manager of 12 years left in March 2025, and we experienced difficulties in recruiting a replacement with suitable qualifications and relevant experience before the start of the season. We are pleased to report that a suitable candidate has now been appointed and will commence employment in April 2026. The Club and Centre continue to benefit from a strong and experienced workforce, both volunteer and salaried, who deliver safe, high-quality and engaging activities for Club members and Centre users. Grant funding towards the employment of two seasonal workers enabled us to divert a proportion of earned income towards maintaining and improving all aspects of the Club and Centre. The Centre had a strong year, with bookings from schools and community groups remaining at good levels. We were able to deliver a full range of activities, with kayaking continuing to be the most popular. In 2024, attendance figures were reduced due to the loss of operating time caused by the de-watering of the reservoir, with 7,454 attendances recorded (based on users attending a standard two-hour session) and 374 off-site visits. We anticipate a significant improvement in attendance figures once the 2025 data has been fully collated. Our “Camp Phoenix” holiday courses and activities were well attended during the Easter, Spring, Summer and Autumn school holidays. During the summer of 2025, with the financial support of John Lyon’s Charity and Active Thames, we were able to offer free activity sessions to groups most in need. These sessions were targeted at those facing physical, financial, cultural or emotional barriers that might otherwise prevent participation in water sports. Groups supported included young carers, BAME communities, disadvantaged groups, people with physical disabilities and SEND, religious groups, ex-pat and refugee communities, sports groups, postcode gang harmonisation groups, foster children, arts and dance groups, and holiday club schemes from low-income areas. We delivered fully funded taster sessions and courses in kayaking, canoeing, bell boating and stand-up paddleboarding. Where required, we also provided food and transport, including minibus transfers to and from the Centre. Page 5 Docusign Envelope ID: 4547FA94-E3D9-892D-83B6-FFC1D12E371B ## **Phoenix Canoe Club Limited** ## **Report of the trustees** ## **For the year ended 31 December 2025** We continued to support a wide range of partner organisations by providing meeting and storage space, including Friends of the Welsh Harp, who carry out regular litter picks and site maintenance around the Site of Special Scientific Interest, and The Conservation Volunteers, who connect people to green spaces through volunteering. We also worked closely with, or provided support to, the Welsh Harp Conservation Group, the Canal & River Trust, (our water landlords) and Cool Oak, a local environmental lobbying and activist group. We also a member of the Welsh Harp Joint Consultative Committee which is run by the London Boroughs of Barnet & Brent and all local and national stakeholders. In addition, we remain a Constituent Member of the Welsh Harp Sailing Association, which manages the lease, shared activities and site management on behalf of member organisations. The Club enjoyed a varied programme of river trips, including local flatwater rivers and more challenging whitewater locations further afield. Trips took place in the French Alps, North Wales, South Wales and Dartmoor. Alongside regular Sunday afternoon Club sessions, we also provided whitewater coaching at the Lee Valley Whitewater Centre and a series of indoor pool sessions at Hatch End Pool, focusing on coaching support and recovery skills for our members and user groups. ## **FUTURE PLANS** Progress on the next phase of the project to replace the Centre’s building was delayed while a new lease was negotiated with our Council landlords. Heads of Terms have now been agreed and solicitors are being appointed to complete the lease. In recognition of the Centre’s community benefit, we have been awarded a 100% discount on the site rent. The Building Steering Group has now reconvened, and designs are being updated in preparation for tender. We have appointed a fundraising company to support us in securing match funding alongside the London Borough of Barnet’s NCIL grant. The current planning permission expires in September 2026, and it is anticipated that Phase 1 of the new development can commence within this timeframe. Page 6 Docusign Envelope ID: 4547FA94-E3D9-892D-83B6-FFC1D12E371B ## **Phoenix Canoe Club Limited** ## **Report of the trustees** ## **For the year ended 31 December 2025 (continued)** ## **FINANCIAL REVIEW** The charity’s income in the year for 2025 was £193,429 (2024: £160,667). The increase in income reflects a new grant of £45,000 from John Lyon’s Charity, as well as a return to more normal levels of activity in the spring of 2025 compared to spring 2024, due to the dewatering reservoir repair project which ran until May 2024 and impacted activities significantly. Grants income from trusts and foundations totalled £49,719 in year (2024: £14,433). Grants included the new grant from John Lyon’s charity along with the grant £,4,300 for School Holiday Activity Fund (SHAF) from John Lyon’s Charity. Expenditure during the year to 31 December 2025 was £175,590 (2024: £187,005) of which £109,932 was for staff costs (31 December 2024: £117,086), and £65,658 on other activity and support costs (2024: £69,919) The surplus for the year to 31 December 2025 was £17,839 (2024: deficit of £26,338). The deficit in 2024 was caused predominantly by the reduction in income due to the dewatering project which impacted the income in 2024. In 2025 the charity was able to restore its reserves to a safer level, through additional funding and careful management of expenditure. Net assets held at 31 December 2025 were £98,248 representing unrestricted funds of £92,371 and restricted funds of £5,877 (2024: £80,409 comprising unrestricted funds of £70,076 and restricted funds of £10,333). Page 7 Docusign Envelope ID: 4547FA94-E3D9-892D-83B6-FFC1D12E371B ## **Phoenix Canoe Club Limited** ## **Report of the trustees** ## **For the year ended 31 December 2025 (continued)** ## **RESERVES POLICY** The charity holds the following reserves: **Restricted reserves** comprise funds available for expenditure in accordance with the donor’s intentions for the use of the funding, the reserves held at 31 December 2025 are £5,877 (2024: £10,333). **Designated reserves** are funds set aside from unrestricted reserves at the discretion of the trustees. In the case of Phoenix Canoe Club they represent: - the net book asset of fixed assets, these assets are essential to the operation of the charity and its activities, and should not be considered realisable to meet commitments. Designated funds at 31 December 2025 are £31,273 (31 December 2024: £29,895). - £10,000 of funds designated for future use towards costs of replacing the club’s building. **General reserves** are the balance of the charities unrestricted reserves that have not been designated for a particular purpose, as such they are freely available to the trustees for any of the charity’s purposes. General funds held at 31 December 2025 are £51,098 (31 December 2024: £35,181). The charity seeks to maintain general reserves equivalent to approximately 3-4 months of expenditure, and this policy suggests reserves of around £60,000 - £70,000 are needed. The trustees are aware that the level of reserves held at the end of the year of £51,098 continue to be below the amount suggested by the reserves policy. The fall below the desired level of reserves was caused by the unavoidable impact on income from the reservoir repair project during 2023 and 2024. However, the results of 2025 have meant the charity has been able to partially restore levels of reserves from income from its own activities, as the grant from John Lyon’s Charity covered a proportion of staff costs for the 2025 year. The trustees feel that the charity is still a going concern and will continue to be able to operate in the foreseeable future, but note that reduced reserve levels will mean income and expenditure will continue to need careful monitoring in 2026 as we continue to rebuild free reserves. In 2025 the charity has been awarded a 5-year grant from John Lyon’s Charity to contribute to seasonal instructing staff costs each year and encourage youth participants to become more involved with sport and the club. The funding has been very helpful in ensuring the charity can continue to provide a full range of activities. Page 8 Docusign Envelope ID: 4547FA94-E3D9-892D-83B6-FFC1D12E371B ## **Phoenix Canoe Club Limited** ## **Report of the trustees** ## **For the year ended 31 December 2025** ## **RISK POLICY** In accordance with best practice, the trustees keep a register of risks facing the charity. Risks are reviewed regularly, and actions are taken and controls put in place where appropriate. Through the risk management processes, the trustees are satisfied that the major risks identified have been adequately mitigated where possible. It is recognised that systems can only provide some assurance that major risks have been adequately managed and some risks are outside the control of the charity. The principle risk areas, and the main mitigations are listed below. **Financial and income** : Controls are in place over access to bank accounts and through use of dual signatory controls, along with regular monitoring of financial results and the production of forecasts. The charity reviews income generation sources and costs new activities, grants are applied for where additional income is needed to fund capital replacements or specific activities. **Safeguarding** : The Club and Centre work with young people and have policies and guidance to ensure that there are proper safeguards in place to ensure that participants and staff operate in a safe environment for sport and recreation. Phoenix Canoe Club Limited is fully committed to safeguarding the well-being of its Club members and Centre users. All members and users should show respect and understanding for the rights, safety and welfare of others, and conduct themselves in a way that reflects the principles of the Club & Centre. We believe that taking part in water sport should be positive and enjoyable parts of children’s or vulnerable adults’ lives. **Health & Safety:** It is the policy of Phoenix Canoe Club Limited to ensure, so far as is reasonably practicable, the health & safety of its volunteers, employees and members. The Trustees, volunteer staff and employees are to comply, as far as is reasonably practicable, with the requirements of the Health and Safety at Work etc. Act 1974, and with all its statutory provisions. All members are required to assist in achieving this aim. Overall and primary responsibility for maintaining a safe and healthy working environment within the Phoenix Canoe Club Limited rests with the Trustees. The onus of overall and primary responsibility does not absolve individuals from their specific responsibilities. **Facilities:** The charity reviews insurance regularly to ensure adequate cover is in place. A forward maintenance plan ensures facilities and equipment are renewed as needed. Additionally the club has a back up arrangement with another centre in case of need. Page 9 Docusign Envelope ID: 4547FA94-E3D9-892D-83B6-FFC1D12E371B ## **Phoenix Canoe Club Limited** ## **Report of the trustees** ## **For the year ended 31 December 2025** ## **TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS** Company law requires the trustees (who are also directors of Phoenix Canoe Club Limited for the purposes of company law) to prepare financial statements that give a true and fair view of the state of affairs of the charity at the end of the financial period and of its financial position at the end of that period. In preparing those financial statements the trustees are required to: - select suitable accounting policies and apply them consistently; - make judgements and estimates that are reasonable and prudent; - observe the methods and principles in the Charities SORP; - state whether applicable UK accounting standards and statement of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006 and the Charities Act 2011. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: - there is no relevant information of which the charitable company’s independent examiner is unaware; and - the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the independent examiner is aware of that information. Approved by order of the board of trustees on 1 March 2026 and signed on its behalf by: ……………………………………………………………………… Megan Chidlow Page 10 Docusign Envelope ID: 4547FA94-E3D9-892D-83B6-FFC1D12E371B ## **Independent examiner’s report to the trustees of Phoenix Canoe Club Limited** I report on the accounts for the year ended 31 December 2025 set out on pages 4 to 25. ## **Respective responsibilities of trustees and examiner** The charity’s trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this period (under Section 144(2) of the Charities Act 2011 (the 2011 act)) and that an independent examination is required. Having satisfied myself that the charity is not subject to an audit under company law and is eligible for an independent examination, it is my responsibility to: - Examine the accounts under Section 145 of the 2011 Act - to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and - to state whether particular matters have come to my attention. ## **Basis of the independent examiner’s report** My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items of disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaking do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statements below. ## **Independent examiner’s statement** In connection with my examination, no matter has come to my attention: - (1) which gives me reasonable cause to believe that, in any material respect, the requirements: - to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; and - to prepare accounts which accord with the accounting records, comply with the accounting records of Section 394 and 395 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities. have not been met; or - (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. ## _**Capital Tax Accountants Limited**_ Kumail Walji (Director) Capital Tax Accountants Limited Suite 115, Devonshire House Manor Way Borehamwood Hertfordshire WD6 1QQ Date: 6/10/2026 Page 11 Docusign Envelope ID: 4547FA94-E3D9-892D-83B6-FFC1D12E371B ## **Phoenix Canoe Club Limited** **Statement of financial activities for the year ended 31 December 2025 (incorporating income and expenditure account)** **----- Start of picture text -----**
Unrestricted Restricted Total Total
Year to 31 Year to 31
December December
Notes Funds Funds 2025 2024
£ £ £ £
Income from:
Donations and grants 2 - 49,719 49,719 14,636
Charitable activities 3 140,426 - 140,426 143,602
Trading activities 4 2,090 159 2,249 2,103
Investment income 836 199 1,035 326
Total Income 143,352 50,077 193,429 160,667
Expenditure on:
Costs of raising funds 5 346 - 346 510
Charitable activities 5 120,711 54,533 175,244 186,495
Total expenditure 121,057 54,533 175,590 187,005
Net income/(expenditure) 22,295 (4,456) 17,839 (26,338)
- - - -
Transfers in/(out) between funds
Net movement in funds 22,295 (4,456) 17,839 (26,338)
Reconciliation of funds:
Total funds brought forward 70,076 10,333 80,409 106,747
Total funds carried forward 92,371 5,877 98,248 80,409
**----- End of picture text -----**
There are no recognised gains and losses other than those in the statement of financial activities. Therefore no statement of total recognised gains and losses has been prepared. All the above amounts relate to continuing activities. The notes on pages 15 to 25 form part of these accounts Page 12 Docusign Envelope ID: 4547FA94-E3D9-892D-83B6-FFC1D12E371B ## **Phoenix Canoe Club Limited Balance Sheet As at 31 December 2025** ## **Company no: 08002910** **----- Start of picture text -----**
31 31
December December
Notes 2025 2024
£ £
Fixed Assets
Tangible Assets 10 31,273 29,895
Current Assets
Debtors 11 23,334 16,727
Cash at bank and in hand 82,988 76,242
106,322 92,969
Creditors: amounts falling due within one year 12 (39,347) (42,455)
Net current assets 66,975 50,514
Net assets 98,248 80,409
Funds
Unrestricted funds
Designated funds 14 41,273 34,895
General funds 51,098 35,181
92,371 70,076
Restricted funds 13 5,877 10,333
Total funds 15 98,248 80,409
**----- End of picture text -----**
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025. The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006. The directors acknowledge their responsibilties for complying with the requirements of the Companies Act 2006 with respect to accounting records and preparation of accounts. The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. The accounts were approved by the board of trustees on 1 March 2026 and signed on their behalf by: Megan Chidlow (Treasurer) The notes on pages 15 to 25 form part of these accounts Page 13 Docusign Envelope ID: 4547FA94-E3D9-892D-83B6-FFC1D12E371B ## **Phoenix Canoe Club Limited Cash Flow Statement For the year ended 31 December 2025** **----- Start of picture text -----**
Year to 31 Year to 31
December December
2025 2024
£ £
Cash flows from operating activities:
Net (expenditure)/income for the financial year 17,839 (26,338)
Adjustments for:
Depreciation of tangible assets 11,715 8,796
Investment income (1,035) (326)
(Increase)decrease in debtors (6,607) 7,627
Increase in creditors (3,108) 2,130
Net cash generated from operating activities 18,804 (8,111)
Cash flows from investing activities:
Income from investments 1,035 326
Purchase of plant and machinery (13,093) (11,842)
Net cash from investing activities (12,058) (11,516)
Change in cash and cash equivalents in the year 6,746 (19,627)
Cash and cash equivalents at the beginning of the year 76,242 95,869
Cash equivalents at the end of the year 82,988 76,242
Cash and cash equivalents at the end of the year comprise:
Cash at bank and in hand 82,988 76,242
**----- End of picture text -----**
Page 14 Docusign Envelope ID: 4547FA94-E3D9-892D-83B6-FFC1D12E371B **Phoenix Canoe Club Limited Notes to the Financial Statements For the year ended 31 December 2025** ## **1. Accounting policies** ## **a) Basis of preparation** The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these financial statements. The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. The functional and presentational currency is pounds sterling and rounding is to the nearest pound. ## **b) Income** Income is recognised in the period in which the charity is entitled to receipt and the amount can be measured with reasonable certainty and it is probable that the income will be received. Income is deferred only when the charity has to fulfil certain conditions before becoming entitled to it or where the donor or funder has specified that the income is to be expended in a future accounting period. Investment Income is included in the accounts when receivable. Grants and donations are recognised once entitlement and value have been confirmed in writing. ## **c) Expenditure** Expenditure is recognised once here is a legal or constructive obligation to make a payment to a third party, it is probably that settlement will be required and the amount of the obligation can be measured reliably. Expenditure includes irrecoverable VAT and comprises direct costs and support costs. All expenditure is allocated to the activity headings below, where the cost relates directly to that activity. Support costs are allocated using an apportionment in proportion to staff time working in each area. - Expenditure on raising funds includes all expenditure associated with raising funds for the charity. - Expenditure on charitable activities includes all costs associated with delivering all activities of the charity in the provision of its charitable activities. ## **d) Taxation** No liability to UK corporation tax arose on ordinary activities for the period ended 31 December 2025 as the company has tax-exempt charity status. Page 15 Docusign Envelope ID: 4547FA94-E3D9-892D-83B6-FFC1D12E371B ## **Phoenix Canoe Club Limited Notes to the Financial Statements For the year ended 31 December 2025** ## **1. Accounting policies (continued)** ## **e) Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: Plant and equipment – over 7 years on cost straight line basis Motor vehicles – over 4 years on cost straight line basis Buildings - over 7 years on cost straight line basis for temporary structures and over 20 years for permanent structures Slipway - over 20 years on cost straght line basis ## **f) Debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Accrued income and tax recoverable is included at the best estimate of the amount receivable at the balance sheet date. ## **g) Cash at bank and in hand** Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **h) Creditors** Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. ## **i) Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for specific purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donors. The aim and use of each restricted fund is set out in the notes to the accounts. ## **j) Pensions** The charity operates a defined contribution pension scheme for employees. These assets of the scheme are held separately from those of the charity. The annual contributions payable are charged to the Statement of Financial Activities. Page 16 Docusign Envelope ID: 4547FA94-E3D9-892D-83B6-FFC1D12E371B ## **Phoenix Canoe Club Limited Notes to the Financial Statements (continued) For the year ended 31 December 2025** ## **2. Income from donations and grants** |**Current year**
Donations
Grants - trusts and foundations
**Prior year**
Donations
Grants - trusts and foundations
**3. Income from charitable activities**
**Current year**
Fee income: courses for schools, groups and individuals|**Year to 31**
**December**
**2025**
**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
-
419
**419**
-
49,300
**49,300**
**-**
**49,719**
**49,719**
**Year to 31**
**December**
**2024**
**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
-
203
**203**
-
14,433
**14,433**
**-**
**14,636**
**14,636**
**Year to 31**
**December**
**2025**
**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
140,426
-
**140,426**
**140,426**
**-**
**140,426**| |---|---| Page 17 Docusign Envelope ID: 4547FA94-E3D9-892D-83B6-FFC1D12E371B ## **Phoenix Canoe Club Limited Notes to the Financial Statements (continued) For the year ended 31 December 2025** ## **3. Income from charitable activities** |**Prior year**
Fee income: courses for schools, groups and individuals
**4. Income from other trading activities**
**Current year**
Membership income
Income from fundraising events and activities
**Prior year**
Membership income
Income from fundraising events and activities|**Year to 31**
**December**
**2024**
**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
143,602
-
**143,602**
**143,602**
**-**
**143,602**
**Year to 31**
**December**
**2025**
**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
2,090
-
**2,090**
-
159
**159**
**2,090**
**159**
**2,249**
**Year to 31**
**December**
**2024**
**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
1,500
-
**1,500**
2
601
**603**
**1,502**
**601**
**2,103**| |---|---| Page 18 Docusign Envelope ID: 4547FA94-E3D9-892D-83B6-FFC1D12E371B ## **Phoenix Canoe Club Limited Notes to the Financial Statements (continued) Phoenix Canoe Club Limited** ## **5. Expenditure by activity type** |**Current year**
**Unrestricted funds:**
Charitable activities
Activities for raising funds
**Total unrestricted funds**
**Restricted funds:**
Charitable activities
**Total restricted funds**
**5. Expenditure by activity type (continued)**
**Prior year**
**Unrestricted funds:**
Charitable activities
Activities for raising funds
**Total unrestricted funds**
**Restricted funds:**
Charitable activities
**Total restricted funds**|**Year to 31**
**December**
**2025**
**Staff costs**
**Non Staff**
**Support**
**Total**
**Costs**
**Costs**
**Costs**
**Funds**
**£**
**£**
**£**
**£**
55,649
42,330
22,732
**120,711**
-
346
-
**346**
**55,649**
**42,676**
**22,732**
**121,057**
54,283
250
-
**54,533**
**54,283**
**250**
**-**
**54,533**
**109,932**
**42,926**
**22,732**
**175,590**
**Year to 31**
**December**
**2024**
**Staff costs**
**Non Staff**
**Support**
**Total**
**Costs**
**Costs**
**Costs**
**Funds**
**£**
**£**
**£**
**£**
111,436
33,606
26,704
**171,746**
-
510
-
**510**
**111,436**
**34,116**
**26,704**
**172,256**
5,650
9,099
-
**14,749**
**5,650**
**9,099**
**-**
**14,749**
**117,086**
**43,215**
**26,704**
**187,005**| |---|---| Page 19 Docusign Envelope ID: 4547FA94-E3D9-892D-83B6-FFC1D12E371B ## **Phoenix Canoe Club Limited Notes to the Financial Statements (continued) For the year ended 31 December 2025** ## **6. Support costs** |Property and related costs
Office expenses
Professional fees, accountancy and subscriptions
IT costs
Marketing costs
Governance costs
**7. Staff costs**
Wages and salaries
Employers' National Insurance
Employers pension contributions
Average number of employees during the period/year
Average number of full time equivalent employees during the period/year|**Year to 31**
**December**
**2025**
Year to 31
December
2024
**Total**
Total
**Funds**
Funds
**£**
£
**13,271**
11,750
**1,396**
1,849
**3,484**
9,009
**1,465**
1,422
**629**
162
**2,487**
2,512
**22,732**
26,704
**Year to 31**
**December**
**2025**
Year to 31
December
2024
**£**
£
**106,983**
111,792
**1,813**
3,981
**1,136**
1,314
**109,932**
117,087
**9.3**
7.9
**4.0**
4.1| |---|---| Page 20 Docusign Envelope ID: 4547FA94-E3D9-892D-83B6-FFC1D12E371B ## **Phoenix Canoe Club Limited Notes to the Financial Statements (continued) For the year ended 31 December 2025** ## **8. Trustee expenses** No trustees received any remuneration or expenses from the Charity in relation to the performance of their duties as trustees. No trustee expenses were paid to trustees during the year to 31 December 2025 or the year to 31 December 2024. ## **9. Net income is stated after charging** ||**Year to 31**|Year to 31| |---|---|---| ||**December**|December| ||**2025**|2024| ||**£**|£| |Depreciation of owned fixed assets|**11,715**|8,795| |Independent Examiner's remuneration|**1,200**|1,200| |**10. Tangible fixed assets**
**Cost**
Brought forward
Additions
Disposals
Carried forward
**Depreciation**
Brought forward
Charge for the year|**Buildings and**
**slipway**
**Plant and**
**Motor**
**31 December**
**2025**
31 December
2024
**equipment**
**vehicles**
**Total**
Total
**£**
**£**
**£**
**£**
£
15,016
107,886
19,026
**141,928**
131,206
-
13,093
-
**13,093**
11,842
-
(20,275)
-
**(20,275)**
(1,120)
**15,016**
**100,704**
**19,026**
**134,746**
141,928
1,499
94,058
16,476
**112,033**
104,357
1,046
9,394
1,275
**11,715**
8,796| |---|---| |Depreciation on disposal|-
(20,275)
-
**(20,275)**
(1,120)| |Carried forward
**Net book value**
**As at 31 December 2025**
As at 31 December 2024|**2,545**
**83,177**
**17,751**
**103,473**
112,033
**12,471**
**17,527**
**1,275**
**31,273**
29,895
13,517
13,828
2,550
**29,895**
26,849| Page 21 Docusign Envelope ID: 4547FA94-E3D9-892D-83B6-FFC1D12E371B ## **Phoenix Canoe Club Limited Notes to the Financial Statements (continued) For the year ended 31 December 2025** ## **11. Debtors** |Trade debtors
Accrued income
Prepayments
**12. Creditors**
Trade creditors
Other creditors
Accruals
Deferred income|**31 December**
**2025**
31 December
2024
**£**
£
19,575
13,574
**525**
-
**3,234**
3,153
**23,334**
16,727
**31 December**
**2025**
31 December
2024
**£**
£
**505**
620
**-**
184
**28,203**
23,203
**10,639**
18,448
**39,347**
42,455| |---|---| Page 22 Docusign Envelope ID: 4547FA94-E3D9-892D-83B6-FFC1D12E371B ## **Phoenix Canoe Club Limited Notes to the Financial Statements (continued) For the year ended 31 December 2025** ## **13: Restricted funds** |**Current year**
New Building fund
John Lyon's Charity - SHAF
John Lyon's Charity - 5 year project
Port of London Authority - Thames Active
Staff training|**Balance at**
**Balance at**
**1 January**
**31 December**
**2025**
**Income**
**Expenditure**
**Transfers**
**2025**
**£**
**£**
**£**
**£**
**£**
-
777
-
-
777
-
4,300
(4,300)
-
-
-
45,000
(45,000)
-
-
10,083
-
(4,983)
-
5,100
250
-
(250)
-
-| |---|---| ||| |**13: Restricted funds**
**Prior year**
New Building fund
John Lyon's Charity - SHAF
Port of London Authority - Thames Active
Staff training|**10,333**
**50,077**
**(54,533)**
**-**
**5,877**
**Balance at**
**Balance at**
**1 January**
**31 December**
**2024**
**Income**
**Expenditure**
**Transfers**
**2024**
**£**
**£**
**£**
**£**
**£**
7,719
1,130
(8,849)
-
-
-
4,100
(4,100)
-
-
1,550
10,083
(1,550)
-
10,083
250
250
(250)
-
250
**9,519**
**15,563**
**(14,749)**
**-**
**10,333**| Transfers of funds represents the purchase of fixed assets using restricted grants, where the assets purchased with grant funds are intended for the general purposes of the charity. ## **Purpose of restricted funds** New Building fund Funds raised towards the long-term project of a new centre building for the charity. John Lyon's Charity - 5 year project John Lyon's Charity - Instructor and Club Links funded project to run for 5 years. John Lyon's Charity - SHAF School Holiday Activity Fund (SHAF). Port of London Authority Active Thames "Watersports Inclusive" funding. Staff training Funds received for staff training Page 23 Docusign Envelope ID: 4547FA94-E3D9-892D-83B6-FFC1D12E371B ## **Phoenix Canoe Club Limited Notes to the Financial Statements (continued) For the year ended 31 December 2025** ## **14: Designated funds** |Capital fund representing net book value of fixed assets
Funds designated to new building
**15: Analysis of net assets between funds**
**Current year**|**Balance at**
Balance at
**31 December**
31 December
**2025**
2024
**£**
£
**31,273**
32,942
**10,000**
5,000
**41,273**
37,942
**31 December**
**2025**
**31 December**
**2025**
**31 December**
**2025**
**31 December**
**2025**
**Restricted**
**Unrestricted**
**Unrestricted**
**Total**
**Designated**
**General**
**Funds**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
**£**| |---|---| |Tangible fixed assets|-
31,273
-
**31,273**| |Current assets
Creditors due within one year|5,877
10,000
90,445
**106,322**
-
-
(39,347)
**(39,347)**
**5,877**
**41,273**
**51,098**
**98,248**| ||| |**Prior year**|**31 December**
**2024**
**31 December**
**2024**
**31 December**
**2024**
**31 December**
**2024**
**Restricted**
**Unrestricted**
**Unrestricted**
**Total**
**Designated**
**General**
**Funds**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
**£**| |Tangible fixed assets|-
32,942
-
**32,942**| |Current assets
Creditors due within one year|10,333
5,000
77,635
**92,968**
-
-
(42,456)
**(42,456)**
**10,333**
**37,942**
**35,179**
**83,454**| ||| Page 24 Docusign Envelope ID: 4547FA94-E3D9-892D-83B6-FFC1D12E371B ## **Phoenix Canoe Club Limited Notes to the Financial Statements (continued) For the year ended 31 December 2025** ## **16. Pension commitments** The charity operates a separate defined contributions pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension costs charge represents contributions payable by the charity to the funds and amounted to £1,136 in the year to 31 December 2025 (year to 31 December 2024: £1,314). Contributions totalling £1 (31 December 2024: £184) were payable to the fund at the balance sheet date of 31 December 2025 and are included in creditors. Page 25