CHARITY REGISTRATION NUMBER: 1151374 All-Aboardl Water Sport and Water Recreational Activity (Bristol) Financial Statements 31 December 2024 JAY & JAY PARTNERSHIP LIMITED Chartered Certified Accountants & statutory auditor 2 Chesterfield Buildings Westbourne Place Clifton Bristol BS8 1RU
All-Aboard! Water Sport and Water Recreational Activity (Bristol) Financial Statements Year ended 31 December 2024 Page Trustees. Annual Report Independent Auditor's Report to the Trustees of All-Aboardl Water Sport and Water Recreational Activity (Bristol) Statement of Financial Activities 11 Statement of Financial Position 12 Notes to the Financial Statements 13 The followlng pages do not form part of the financial statements Detailed Statement of Financial Activities 26 Notes to the Detailed Statement of Financial Activities 28
All-Aboard! Water Sport and Water Recreational Activity (Bristol) Trustees. Annual Report Year ended 31 December 2024 The trustees present their report and the financial statements of the charity for the year ended 31 December 2024. Reference and admlnlstratlve details Reglstered charlty nam• All-Aboardl Water Sport and Water Recreational Activity (Bristol) Charlty reglstration number 1151374 Principal offlce Baltic Wharf Cumberland Road Bristol BS16XG The tru8tee8 Mr S Chapman Ms G Hannan Mr P Golding Mr A Clay Ms J Fionda (Resigned 19 November 2024) (Resigned 11 February 2024) (Resigned S February 2024) (Appointed 24 January 2024) (Resigned 22 May 2024) (Appointed 5 February 2024 and resigned 8 September 2025) Mr P Truss Ms K Dursley MrAJChery (Appoinled 30 January 2024) (Appointed 13 May 2024 and resigned 28 January 2025) Ms S Pyne-carillo Mr S Weeks fvlr R Miller (Appointed 8 September 2025) Auditor Jay & Jay Partnership Limited Chartered Certified Accountants & statutory auditor 2 Chesterfield Buildings Westbourne Place Clifton Bristol BS81RU Bankers Lloyds Bank 25 Gresham Street London EC2V 7HN
All-Aboard! Water Sport and Water Recreational Activity (Bristol) Trustees. Annual Report (eontlnued) Year ended 31 December 2024 Structure. governance and management Organlsatlon All-Aboard is constituted as a Trustee organisation. The minimum number of Trustees to form a quorale is four. The Trustees are selected to provide a wide range of skills and experience appropriate for the charity and include experts in accountancy. law, estate management, disability awareness. marketing, human resources and education . Aclivities are delivered by paid fully qualified activity instructors and supported by trained volunteers. The charity is a Charitable Incorporated Organisation (CIO). Public ben¢flt The Trustees have complied with their duty under Section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. In shaping the objectives for the year and planning activities, the Trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'Public benefit,. running a charity (P82)'. Objectlves and actlvities The object of the CIO is to promote - for the benefit of the inhabitanls of Bristol and the surroundlng area - the provision of recreational facilities for the participation in water sports and such other rèlated activities, for individuals who have need of such facilities by reason of their youth, age, infirmity or disablement. financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the condition of lrfe of of the said inhabitants.
All-Aboard! Water Sport and Water Recreational Activity (Bristol) Trustees. Annual Report (contlnuod) Year ended 31 December 2024 Revlew of actlvltles The aim of the Charity is to enable all members of society to participate in watersports. We operate from the centre at Baltic Wharf, Bristol where specialist boats are equipped to cope with all needs from the fully able to those with very complex needs. The Charity caters especially for children and adulls living with disabilities (physical. learning or cognitivel, long term health conditions, andlor are from disadvantaged backgrounds. Water-based activities offered include sailing, rowing, powerboating and motor cruising, canoeing, kayaking, stand up paddleboarding and raft b(Jilding. Shore-based activities include boal building, Disability awareness and First Aid courses, and use of indoor fitness equipment. Participants visit as individuals, in famlly and social groups, or with their school, support group or other type of community or social group. Additionally during 2024 we commenced a contract with Bristol City Council to provide Wild Water Swimming in Bristol floating harbour at weekends which has further expanded and diversified our user population. Unfortunalely we don't have sufficiently accurate figures lo provide a detailed breakdown of the participanls who utilised our facilities during 2024; it is our intention to better analyse these statistics during 2025. Our ambition remains to reach a target of 50°/o of participants who identify as having a disability or long term health condition, are suffering loneliness, isolation or socio-economic disadvantage, or having other limitations on accessing watersports. A combinalion of granl income and a sound financial position allowed us to continue offering fullylpart funded, or internally subsidised watersport sessions throughout the year to many groups. A Sport England report published in Aprll 2021 recognised that the pandemic had mosl negatively impacted on the activity levels of many of the people that we aim lo reach - women, young people aged 16-24. over 75s, people with disability or long term health conditions, and those from Black, Asian, and other minorily ethnic backgrounds. The benelils to mental health of outdoor exercise and water activity are also well documented and we know th81 participants (and our volunteers) often value the support and social side of our activities as highly as the physical benefits. Our fully funded projects Included watersports for children with long term health conditions land Ihelr close family), sailing for ethnic minorities, sailing to improve mental health. watersports for disadvantaged children and SEN schools, watersporls for young people at risk of homelessness, sailing and rowing for those aged 50+ years, rowing for the visually impaired, and Harbour cruises for those living With dernentia. In addition to Indlviduals, and sociallfamily groups we also provided watersport sessions for,. SEN schools and mainstream schoolslhigher education settings. Community groups 153 sessions delivered with support areas including homelessness, mental health, disability. adoption and fostering, bereavement, domestic abuse, autism, vulnerable young people and dementia. Specialist support services - Child and adolescent mental heallh unit, providers of specialist short break services, professionals supporting NHS brain injury unils. Other community groups including Scout, Cub and Brownie units, and environmental groups working to clean up Bristol harbour. Our weekly SailabilitylPaddleabilitylPowerability sessions for those requiring additional support ran throughout the year and welcomed just under 400 participants over the year.
All-Aboard! Water Sport and Water Recreational Activity (Bristol) Trustees, Annual Report (¢onllnued) Year ended 31 December 2024 There wre a number of highlights during the year',- We We delighted to continue with our 'School Games, which gave 91 SEN pupils from 8 schools the opporlunily to learn sailing, rowing and paddlesports over a 6 week period, culminating in a Regatta where pupils represented their school in friendly competition with other schools an opportunity often denied SEN pupils. There were many other activities where we worked with young people from special schools to provide them with opportunities to experience times on the water that would otherwise not be be available to them. At the beginning of 2024 we were given a year contract to run open water swimming in the harbour in front of our watersports centre. This has proved to be very popular and we anticipate extending this new activity in the harbour beyond the two years. We also held a Disability Inclusive Watersports Festival for 8-16 year olds in which 800/0 of partlcipants identified as having an impairment or disability. The New Horizons Project. organised by the RYA. taught Ilfe skills through learning to sail to 10-20 year olds who had limited access to watersports. We also continued our work with the older generation both Ihrough on waler activities. and onshore in our shed where we provide opportunities for groups to work together to build and maintain watercraft under the supervision of specialist boatbuilders and other skilled individuals. For the more able, our race squad continued to develop young people's salllng skllls In a competltlve environment. Grant funding is vltal to allow us lo continually replace and upgrade our boals and equipment and the financi81 securlty of the charity has been greatly helped by grants and donalions. In particular, we are very grateful for the support from the Scobell Trust. the Nl8b•t Trust and the John Jamos Foundation as well as support from many other organisatlons and Indlviduals wlthoui whom our work would be impossible. Grants have bean received from.. Scobell Trust Nisbet Trust John James Foundatlon Action Funder The Bruce Wake Trust The Sported Foundation Donations have been received from: Simon Chapman John Edgar Andy Holmes Pride of Bristol and a number of other individual supporters to whom we are very grateful.
All-Aboardl Water Sport and Water Recreational Activity (Bristol) Trustees. Annual Report (¢ontlnuod) Year ended 31 December 2024 We are also extremely grateful to our permanent and casual staff who have demonstrated flexibilily and taken on additional responsibility as needed during the year. We continue to recognise the extraordinary contributions made by our dedicated volunieers, who assist participants on the water and shoreside, help maintain and enhance our watercraft and Centre throughout the year, and spend many hours restoring old donated boats for ultimate sale to raise extra funds. Flnanclal revlew Total income for the year was £313,154 which was a 4Q/o decrease over prior year {£327,479). This decrease is primarily due to a 280/0 drop in grants and donations. The board has identified a need for a part-time fundraising officer to address this for next year. Income from charitable activlties was £216,564 (year ended 31 December 2023.. £210,985) and this covers 69 /0 of Ihe associated costs (prior year.'790/0). Total expenditure was 20% higher than the prior year due to the recruitment of two additional staff members employed to strengthen our team. The impact of this additional investment in staff will be felt in 2025. As a consequence of the above staff investment, All-Aboard reported a small net decrease in funds of £13,709 with funds totalling £292,880 al the end of the year. Our cash position remains strong with bank balanS standing at £256,818 at the end of the year (prior year.. £252,724). Reserves amounted to £2g2,880 of which £50,560 is held as our general unrestricted reserve (prior year £46,254). The trustees have agreed to increase Ihe resilience reserve to £80,000 in line with the increase in overheads. Many of the granl-funding streams accessed by All Aboard in recent years hav8 now ended, however we continue to seek new grants lo fund activities for our participants with additional needs, disability or disadvantage. We remain reliani on ihe generosity of our donors to cover on-going shortfalls, while also recognising the need to continue to develop new sources of income and to cultivate rnore relationships with philanthropic individual$ and organisations to support our charitable work. We continually look al the internal structure of the charity to control overheads. This approach means that we enter 2025 on a sound financial and operational footing, and the long term financial security of the charity looks secure. Overall, the Trustees are satisfied with the financial position at 31 Decemb&r 2024. Reserves Pollcy The Trustees consider Ihat reserves are an inherent part of the risk management process. A downturn in funding arrangements could affect Ihe Charity's ability to continue at its present level of activities and in extreme circumstances even lead to closure. To meet its financial commitments the Trustees intend to continue a policy of prudent reseNes provision. Trustees. responslbllltles statement The trustees are responsible for preparing the trustees. report and the financial slatements in accordance wilh applicable law and United Kingdom Acwunting Standards (United Kingdom Generally Accepted Accounting Practice).
All-Aboard! Water Sport and Water Recreational Activity (Bristol) Trustees. Annual Report (condnuod) Year ended 31 December 2024 The law applicable lo charities in England and Wales requires the charity trustees lo prepare financial statements for each year whh give a true and fair view of the slat8 of affairs of th8 charity and of the incorning reSoUrS and application of resources, of the charity for Ihat period. In preparng these financial statements, the trustees are requlred to: select suitable accounting policies and then apply them consistently., observe the methods and princlples in the applicable Charlties SORP; make judgments and accounting estimates that are reasonable and prudent; prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charily will continue in business. The trustees are responsible for keeping adequaie accounting records that ara sufficiant lo show and explain the charrty's transactions and disclose with reasonab5e accuracy at any lime the financial position of the charity and enable iham to ensure that the financial statements comply wilh the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations. and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for t8klng reasonable steps for the prevenlion and detection of fraud and olher irregularities. The trustees, annual report was approved on ..U. 4 !.p.,: J,,ts.. trustees by". and signed on behalf of the board of Mr A Clay Trustee
All-Aboardl Water Sport and Water Recreational Activity (Bristol) Indepandent Auditorfs Report to the Trustees of All-Aboard! Water Sport and Water Recreational Activity (Bristol) Year ended 31 December 2024 Oplnlon We have audited the financial siat8menlS of All-Aboardl Water Sport and Water Recreational Activity (Bristol) (the 'charity') for the year ended 31 December 2024 which comprise the stalemenl of financial activities, statement of financial position and Ihe related notes, including a summary of significant accounting policies. The financial reporting framework thal has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Slandard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinlon the financial statemenls: give a true and fair view of the slate of the charity's affairs as at 31 December 2024 and of ils incoming resources and application of resources, including its income and expenditure, for the year then ended: have been properly prepared in accordance wilh United Kingdom Generally Accepted Accounting Practice. have been prepared in accordance with the requirements of the Charities Act 2011 . Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing (UK) IISAS {UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial stalements section of our report, We are independent of the charity in accordance with the ethical requirements that are relevanl to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and the provisions available for small entitie5, in the circumstances set out below, and we have fulfilled our other ethical responsiblllties in accordance with Ihese requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provid8 a basis for our opinion. In common with many other entities of our size and nature we use our audllors to 8sslsl with Ihe preparation of the financial statements. Conclu8lon8 relatlng to going concern In auditing Ihe financial statements, we have concluded thal the trustees. use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identrfied any material uncertainties relating to events or conditions that, individually or collectively, may $1 significant doubt on the charity's ability to continue as a ooing concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
All-Aboard! Water Sport and Water Recreational Activity (Bristol) Independent Auditorfs Report to the Trustees of All-Aboard! Watsr Sport and Water Recreational Activity (Bristol) (contlnued) Year ended 31 December 2024 Other Informatlon The other information comprises Ihe information included in the annual report. other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read th8 other information and. in doing so. consider whelher the other inforrnation is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstalement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nolhing to report in this regard. Malters on whlch we are requlred to report by exceptlon In the light of the knowledge and understandlng of the charlty and Its environmenl obtained in the course of the audit. we have not identified material misstatements in the trustees, report. We have nothing to report in respect of the following matters In relation to which the Charities Act 2011 requires us to report to you if, in our opinion.. the information given in Ihe trustees, report is inconsistent in any material respect with the financial statements., or adequate accountlng records have not been kept., or the financlal slatemenls are noi in agreement with the accounting records and returns,, or we have not received all the information and explanations we require for our audit. Rosponsibilitios of trustees As explained more fulty in the trustee8' responsiblities statement, the trustees are responsible for the preparation of the financial slatemenls and for being satisfied that they give a true and fair view, and for such inlemal control as the trustees determine is necessary to enable the preparation of financial stalements that are free from material misstatement, whether due to fraud or error. In preparing the financial stalemenls, the trustees are responsible for assessing the charity's ability to conlinue as a going concern, disc105ing. as applicable. matters related to going concern and using the going concern basis of accounling unless the trustees either intend lo liquidate the Charity or to cease operations, or have no realistic alternative but to do so.
All-Aboard! Water Sport and Water Recreational Activity (Bristol) Independent Auditor's Report to the Trustees of All-Aboard! Water Sport and Water Recreational Actlvlty (Brlstol) (continued) Year ended 31 December 2024 AudStor's responsibllitles for the audlt of the flnanclal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from malerial misstatement. whether due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can aiise from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of Ihese financial statements. As part of an audit in accordance wilh ISAS (UKI. we exercise professional judgment and maintain professional scepticism throughout the audit. We also.. Identify and assess the risks of materlal mlsstatement of the flnancial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstalement resulling from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery. intentional omissions, misrepresentalions. or the override of of internal control. Obtain an understanding of Internal control relevant to the audil in order to design audit procedures that are appropriate in the circumstances, but nol for the purpose of expressing an opinion on the effectiveness of the internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures ma<Je by the trustees. Conclude on the appropriateness of the Irustees, use of Ihe going concern basis of accounting and, based on the audit evidence obtained, whether a malerial uncertainty exists related to events or condition5 that may cast signifi¢ant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report lo Ihe related disdosures in the financial statements or, if such disclosures are inadequale, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charity to cease to continue as a going concern. Evaluate the overall presentalion, structure and content of the financial slatements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner thal achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findingy, including any significant deficiencies in internal control that we identify during our audit. Extent to whlch the audlt was considered capable of d•t¢¢tlng Irregularltles, Includlng fraud Irregularlties, includlng fraud, are instances of non-compliance with laws and regulations. We design procedures in line wilh our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularitie5, Including fraud is detailed below.. We obtained an understanding of laws and regulations that affect the charity, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on its operations. Key laws and regulations that we Identified included the Charities Act 2011, the Charities Act 2022, tax legislation and employment legislation.
All-Aboard! Water Sport and Water Recreational Activity (Bristol) Independent Auditor's Report to the Trustees of All-Aboard! Water Sport and Water Recreatlonal Actlvlty (Bristol) (contlnued) Year ended 31 December 2024 The risk of fraud and non-compliance wilh laws and regulations was discussed within the audit team and the team remained alert to instances of non-compliance or fraud throughout the audit. We reviewed the minutes of trustee meetlngs for evldence of nonoompllance with relevant laws and regulations. We considered the systems and controls that the truslees and management have in place to prevent and delect fraud and lo mitigate non-compliance with laws and regulations. We performe(l analytical procedures to identify any unusual items thal might indicate risks of material misstatement due to fraud. We reviewed the disclosures in the financial statements and tesled to supporting documentation to assess complianca with the relevanl laws and regulations dlscussed above. Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some irregularities, evan though we have properly planned and performed our audit in accordance with auditing standards, There is a higher risk of non-delection of material misstalements that arise due lo fraud Ihan those that arise from error as they may involve collusion, forgery, intenlional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non4compliance wilh laws and regulations and cannot be expected to detect all fraud and non•compliance with lav and regulations. Use of our réport This report is made solely to the charity's members, as a body, in accordance with section 144 of the Charities Acl 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to stale to them in an audltor's report and for no other purpose. To the fullest extent permitted by law, we do not accepl or assume responsibility to anyone other than the charity and the Charity's members as a body, for our audit work, for Ihis report, or for the opinions we have formed. Ichard Jay (Senior talutory Auditor) For and on behalf of Jay & Jay Partnership Limited Chartered Certified Accountants & stalutory auditor 2 Chesterfield Buildings Westbourne Place Clifton Bristol BS81RU illiol LOZS 10
All-Aboard! Water Sport and Water Recreational Activity (Bristol) Statement of Financial Activities Year ended 31 December 2024 2024 Restricted funds Total funds 2023 Unrestricted funds Total funds Note Income and frndowmenls Donations and legacies Charitable activities Other trading aclivities Other income 3,848 199,842 22,018 6,451 64,273 16,722 68,121 216,564 22,018 6,451 94,092 210.985 15,766 6.636 Total Income 232,159 80.995 313,154 327,479 Expendltur• Expenditure on raislng funds,. Costs of Other trading activities Expenditure on charitable activities Total expendlture 13,235 258,449 13,235 313,628 7,084 265,495 272,579 55,179 271.684 55,179 326,863 N•t (•xp•ndltur•llln¢om• and net movement in funds (39,525) 25,816 (13,709) $4,900 Raconciliatlon of funds Total funds brought forward Total funds carrlod forward 283,273 23,316 306,589 251,689 243,748 49,132 292,880 306.589 The statement of financial activities includes all gain5 and losses recognised in the year. All income and expendilure derive from continuing activities. The notes on pages 13 to 24 form part of these financial statements. 11
All-Aboardl Water Sport and Water Recreational Activity (Bristol) Statement of Financial Position 31 December 2024 2024 2023 Note Flxed assets Tangible fixed assets 16 67,305 82,538 Current asséts Stocks Debtors Cash at bank and in hand 17 18 670 14,278 256,818 22,516 252,724 271.766 275,240 Creditors: amounts falllng due wlthSn one year Not current assets 19 46,191 51,189 224,051 225,575 292,880 Total assets loss curfont liabilities 306,589 Net assets 292,880 306,589 Funds of the charlly Restricted funds Unrestrict8d funds 49,132 243,748 23,316 283,273 Total charlty funds 22 292,880 306, 58g ese financial statements were approved by the board of trustees and authorised for Issue on I.....,. and are signed on behalf of the board by.. Mr A Clay Trustee The notes on pages 13 to 24 form part of these financial Statements. 12
All-Aboard! Water Sport and Water Recreational Activity (Bristol) Notes to the Flnanclal Statements Year ended 31 December 2024 Genèral Informatlon The full title of the charity is All-Aboard! Water Sport and Water Recreational Activities (Brislol). The operating names are All-Aboard Water Sports, All-Aboard Watersports and All-Aboard. It is a Charitable Incorporated Organisation registered in England and Wales. registration number 1151374. statèmènt of compliance These financial statements have been prepared in compliance with FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the 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) (Charities SORP (FRS 102)) and Ihe Charities Act 2011. A¢countlng pollclos 8asl8 of preparatlon The financial statements have been prepared on the historical cost basis. The charity constitijles a public benefit entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the entily. Going concern There are no material uncertainlies about the charity's abilily to continue. Fund accountSng Unrestricted funds are available for use at tha discretion of the trustees to furthar any of the charity's purposes. Designated funds are unrestrlcted funds earmarked by the Iruslees for a partlcular future projecl or commitment. Restricted funds are subjected to reslrlctions on their expenditure declared by the donor or through the lerms of an appeal, and fall into one of two sub-cla55es: restricted income funds or endowrnenl funds. 13
All-Aboardl Water Sport and Water Recreational Activity (Bristol) Notes to the Financial Statements {contlnued) Year ended 31 December 2024 Accountlng policies (conllnu•d) Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charily,. it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: income from donations or grants is recognised when there is evidence of enlitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established, income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably. in which case the value is derived from the cost to the donor or the estimated resale value. Donaled facilities and services are recognised in the accounts when received rf the value can be reliably measured. No amouTrts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contraclual requirement for it to be spent on a particular purpose and relurned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings ol the statement of financial activities to which it relates: expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading aciivities, and the sale of donated goods. expenditure on charitable activilies includes all costs incurred by a charily In undertaking activities that further it5 charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activilies. olher expenditure includes all expendilure that is neither related to ralsing funds for the charity nor part of its expenditure on charilable activities. All costs are allocated to expendilure categories reflecting the use of the resource. Direcl costs attributabl8 10 a single a¢tivily are allocated directly to that activity. Shared costs are apportioned between the activities they Contrule to on a reasonable. justifiable and consistent basis. Operatlng l¢ase8 Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incenlives is recognised a5 a reduction to expense over the lease term, on a straight-line basis. 14
All-Aboard! Water Sport and Water Recreational Activity (Bristol) Notes to the Financial Statements {¢ontlnued) Year ended 31 December 2024 Accountlng pollcles (conllnued) Tanglble assets Tangible assets are initially recorded at cosl. and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amour)ts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreclatlon Depreciation is calculated so as to write off the cost or valuation of an asset, less its residval value, over the useful economic life of that asset as follows.. Leasehold Improvements Boats & equiprnent Computer & IT equipment Fixtures and fittings 20 % straight line 20Yo Straight line 200/0 Straight line 200/0 Straight line Impalrm•nt of flxed as8et8 A review for indicators of impairrnent 15 carried out at each reporting date, with the recoverable amount being estimated where such indicators exlst. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. Stock8 Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and Gonditlon. Flnanclal Instruments The charily only has financial assets and financial liabilities of a kind that qualrfy as basic financial instruments. Baslc financial instruments are initially recognised at transaction value and subsequenlly measured at their settlemenl value. Defined contrlbutlon plans Contributions to defined contribulion plans are recognised as an expense in the period in which the related service 15 provided. Prepaid contributions are recognised as an asset to the extent thal the prepayment will lead to a reduclion in fulure payments or a cash refund. Donatlons and legacies Unrestricted Funds Restricted Total Funds Funds 2024 Donations Donations 3.848 15.273 19,121 15
All-Aboard! Water Sport and Water Recreational Activity (Bristol) Notes to the Financial Slatements (contlnu•d) Year ended 31 December 2024 Donatlons and legacies (continued) Unrestricted Funds Restricted Total Funds Funds 2024 Grants Grants 49,000 49.000 3,848 64,273 68,121 Unrestricted Funds Restricted Total Funds Funds 2023 Donations Donations 9,000 3,081 12,081 Grants Grants 21,949 60,062 63,143 82,011 94,092 30.949 Charltable aGllvltle8 Unrestricted Funds Restricted Total Fund8 Funds 2024 Performance-related grants Waler-based activities income Shore-based courses income 16,722 16.722 199,722 120 199,722 120 199.842 16,722 216,564 Unrestricted Funds Restricted Total Funds Funds 2023 Performance-related grants Water-based activities income Shore-based courses income 31,311 31,311 178,829 845 178,829 845 179.674 31,311 210,985 Other trading a¢tlvlt5es Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Income from room and equipment hire Sale of publications and merchandise Provision of safety boat cover Sale of refurbished boats 5,088 415 8.275 8,240 5,088 415 8,275 8.240 3.795 281 11.690 3,795 281 11,690 22.018 22,018 15,766 15,766 16
All-Aboard! Water Sport and Water Recreational Activity (Bristol) Notes to the Financlal Statements (contlnuedj Year ended 31 December 2024 other In¢om¢ Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Income from sale of fixed assets and equipment Miscellaneous Rental income 6,124 6.124 6.338 163 135 6.338 163 135 327 327 6,451 6,451 6.636 6,636 Costs of other tradlng actlvltles Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Costs of trading activities 13,235 13,235 7,084 7,084 Expendlturo on charltable actlvltle8 by fund type Unrestricted Funds Restricted Total Funds Funds 2024 Water-based activities Shore-based courses Support costs 142,467 19,326 161,793 115,982 258,449 35,853 151,835 313,628 55,179 Unrestricted Funds Restricted Total Funds Funds 2023 Water-based aclivilles Shore-based courses Support costs 119.872 41.424 3.627 9,666 161,296 3,627 100,572 90,906 210,778 54,717 265.495 10. Analys1$ of 8UPPOrt Costs Waler based activities Total 2024 Tolal 2023 Slaff costs Premises General office Governance costs Other costs 81,993 16.112 20.313 6.132 27,285 81.993 16.112 20,313 6,132 27,285 42,380 15,647 16,154 4,875 21,516 151,835 151,835 100,572 17
All-Aboard! Water Sport and Water Recreational Activity (Bristol) Notes to the Flnanclal Statements {continuedJ Year ended 31 December 2024 11. Net (expendlture)Ilncomo Net (expenditurellincome is stated after chargingl(crediting): 2024 2023 Depreciation of tangible fixed assets 29,427 27,465 12, Auditors remuneratlon 2024 2023 Fees payable for the audit of the flnancial statements 4,890 4.600 13. Staff costs The total staff costs and empboyee benefits for the reporting period are analysed as follows.. 2024 2023 Wages and salanes Social security Costs Employer contributions to pension plans 185,451 7,517 3,085 141,986 3,631 2,349 196,053 147,966 The average head count of employees during the year was 19 (2023: 14). The average head count of 19 employees Includes full-time and part-lime employees. There were approximately 9 full-lime equivalent staff members in the year ended 31 st December 2024, No employee recelved employee b8neflts of more than £60,000 during the year (2023.. Nil). Key Management P•rsonn•l Key management personnel include all persons that have authority and responsibility for planning. directing and controlling the acllvities of the charlty. There were 3 key management personnel employed by the charity in the year ended 31st December 2024, all carrying out the cenlre manager role. The cenlre manager employed In 2023 resigned from the role In January 2024. The trustee Mr S Weeks Ihen took on the role of acting centre rnanager from January 2024 while the trustees recruited for a permanent replacement. Mr Weeks was paid by the Charity for his work as acting centre manager. A permanent centre manager was appointed in April 2024 and Mr Weeks stepped down as acting ntre manager after a short handover period. The total compensation paid to key managemenl personnel for services provided to the charity was £37,502 {2023: £43,175). 18
All-Aboardl Water Sport and Water Recreational Activity (Bristol) Notes to the Financial Statsments (contlnu•dJ Year ended 31 D8cemb8r 2024 14. Trustee remuneration and expenses As explained in note 13 one of the trustees. Mr S Weeks, took on the role of acting centre manager in January 2024 while the trustees recruited for a permanent replacement. A permanent centre manager was appointed in April 2024. Mr Weeks was paid £9,162 for his role of acting centre rnanager and assisting with the handover to the new centre manager in 2024. No other trustees received remuneration or other benefits paid for the year ended 31sl December 2024 or the year ended 31st December 2023. There were no trustees, expenses paid for the year ended 31st Dember 2024 or for Ihe year ended 31st December 2023. 15. Role of genoral volunteers Unpaid volunteers carry oul many activities for the charity, including assisting participants on the water and shoreside, helping io malntain and enhance the charity's watercraft and Centre, and restoring ol¢J donated boats for sale lo ralse addltional funds. 18. Tanglblo flxed a8SQt8 Computer & Leasehold Boats & IT Fixtures & improvements equipment equipment fittings Total Cost At 1 January 2024 Additions Disposals At 31 December 2024 1,855 311.481 10,827 (14.6771 307,631 8,655 3.653 12,564 334,555 14,480 (14.6771 334,358 1.855 12,308 12,564 Depreclatlon At 1 January 2024 Charge for the year Disposals At 31 December 2024 1,855 236,016 26,312 {14,391) 247,937 8.285 917 5,861 2,198 252,017 29,427 (14,391) 267,053 1.855 9.202 8,059 Carrying amount At 31 Do¢emb•r 2024 59,694 3,106 4,505 67,305 At 31 December 2023 75,465 370 6.703 82,538 17. Stocks 2024 2023 Raw materials and consumables 670 19
All-Aboardl Water Sport and Water Recreational Activity (Bristol) Notes to the Financial Statements (conllnuedj Year ended 31 December 2024 18. Debtors 2024 2023 Trade debtor5 Prepayments and accrued income 2,221 12,057 2,693 19.823 14,278 22,516 19. Credltors: amounts falling due within one year 2024 2023 Accruals and deferred income Social security and other taxes Other creilitors 42,649 2.246 1,296 48.365 874 1.950 46,191 51,189 20. Doferrod income 2024 2023 At 1 January 2024 Amount released to income Amount deferred in year At 31 Docembor 2024 36,223 (18,823) 18,209 34,574 (27,698) 29,347 35,609 36.223 Deferred income includes deferred Income totalllng £22.799 {2023: £31,471) relating to performance-related grant income which was received before 31 st December 2024 but where the grant conditions had not been met by 31st December 2024. The grants received will be recognised in the accounts as income when the grant conditions have been met. Deferred income also includes £5,000 received In the year ended 31 st December 2024 which is to be used towards core costs in Ihe year ended 31 st December 2025. 21, P•nslons and other post retlremont beneflts Deflned contrlbutlon plans The arnounl recognised in income or expenditure as an expense In relation to defined contribution plans was £3,085 {2023.' £2.349). 20
All-Aboardl Water Sport and Water Recreational Activity (Bristol) Notes to the Financial Statements (continu¢dJ Year ended 31 December 2024 22. Analysis of charitable funds Unrestricted funds At 31 Decernber 2024 At 1 January 2024 Income Expenditure Transfers Unrestricted funds Resilience Fund Unrestricted fund - grants and donations for designated purposes Boat and Equipment Replacement Fund Building Upgrade Fund Asset Deprecialion Fund 46,254 60,000 232.009 {228.426> 723 20,000 50,580 80.000 24.481 150 (13,831) (4.917) 5.883 40,000 30,000 82,538 (20,000) (10,000) 14,194 20,000 20,000 67.305 {29,427) (271.684) 283,273 232.159 243,748 At 31 DeGember 2023 At 1 January 2023 Income Expenditure Transfers Unrestricted funds Resilience Fund Unrestricted fund grants and donations for designated purposes Boal and Equipment Replacement Fund Building Upgrade Fund Asset Depreciation Fund 42,751 60.000 208,466 (190.319) (14,644) 46,254 60,000 24,559 (78) 24,481 40,000 30,000 62,509 40,000 30,000 82,538 (27,465) {217,862) 47,494 235,260 233.025 32.850 283,273 The resilience fund has been established to cover the cost of 3 months fixed salaries and overheads and is available for use in Ihe evenl that operational or other restrictions impede on the organisation's ability to conduct its normal activities. Grants and donations for designated purposes are unresiricted funds that have been set aside by the trustees for specific beneficiary purposes. The transfer of £4.917 represents the cost of an electric engine purchased using funds from one of the designated funds. The boat and equipment replacement fund represents the amount set aside for planned additions and replacements to the walercraft used by the charity. The building upgrade fund has been established in recognition of the required significant improvement and expansion of the charity's facilities al Baltic Wharf. The asset depreciation fund represents the balance of capital equtpment purchases Ihat have yet to be depreciated or disposed of in full. The expenditure of £29,427 represents the depreciation charge for the year and the transfer of £14,194 represents the capital purchases and disposals of equipment in the year. 21
All-Aboard! Water Sport and Water Recreational Activity (Bristol) Notes to the Financial Statements {¢onllnued) Year ended 31 December 2024 22. Analysis of ¢haritable funds (contlnued) Restrlcted funds At 31 December 2024 At 1 January 2024 Income Expendllure Transfers Sundry grants Sailabllity RYA Tackllng Inequalities Fund Nisb8t Trust JGW Turner Chapman Fund Age UK Bristol Building Boats Building Lives project Scobell Trust Trinity House Bruce Wake Trust BC Stronger Together Hedley Foundation 2,887 3,684 6,654 7,773 (7,067) (2,647) 2.474 8.810 1,494 19.439 (1,494) (35,039) 15,600 1.145 1,145 3,703 6,250 (2,547) 120 30,000 2,011 3,000 901 3,353 (120) 30,000 (2,011) 3,000 (901) (3,353) 155.179) 23.316 80.995 49,132 At 31 December 2023 At 1 January 2023 Income Expenditure Transfers Sundry grants Sailabilily RYA Tackling Inequalities Fund Nisbet Trust JGW Turner Age UK Brislol Bullding Boats Building Lives project Quartet Resilience Fund Trinity House Newby Trust True Colours Bruce Wake Trust Douglas 8ader BC Stronger Together Hedley Foundation Garfield Weston John James 1,342 4,663 12.536 1.069 (9,1411 (2,0481 (1,850) 2,887 3,684 4,246 15,600 2,000 (4.246) 15.600 1,145 (855) 9,390 {9,3901 {3,529} (5,200) (3,895) (3,700) (4,880) (2,000) (3,303) {2,530) 3.529 3.000 3.895 2,200 3,700 4,880 2,000 3,303 2,530 23,000 8,000 (23,000) (8,000) 16,429 94,454 (54,717) (32,850) 23,316 22
All-Aboardl Water Sport and Water Recreational Activity (Bristol) Notes to the Financial Statements (conUnu•d) Year ended 31 December 2024 22. Analysls of charltable funds Icontlnuedj The grant from the Scobell Trust is for expenditure on the charitls charitable aims, and is not to be used towards core costs. The grant from the Bruce Wake Trust is for use towards a new engine for Aiming Higher. The new engine had not been purchased by Ihe charity by 31 st December 2024. The donation from the Chapman Fund is to be used for watersport sessions. 23. Analysls of nat assets between funds Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less Ihan 1 year Net a8sets 67,305 194,835 (18,392) 243.748 67,305 271,766 (46,191) 292,880 76,931 (27,799) 49,132 Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net a88et8 82,538 220,4S3 (19.718) 283,273 82,538 275,240 {51,189) 306.589 54.787 {31.471) 23,316 24. Op•ratlng lea80 commitments The tolal future minimum lease paym8nls under non-cancellable operating leases are as follows.. 2024 2023 Not later than 1 year Later than 1 year and not later than 5 years 4,330 2,983 7,313 4,330 7,283 11,613 The operating lease payments recognised as an expense in the year ended 31 sl December 2024 totalled £4,300 (2023: £3,810) 23
All-Aboard! Water Sport and Water Recreational Activity (Bristol) Notes to the Financial Statements (confrnuedj Year ended 31 December 2024 25. Related parties One of Ihe adminislratlV8 employees is the daughter of the trustee Ms G Hannan. Ms G Hannan resigned as trustee of the Charity on 11 th February 2024. The employee's remuneration benefits in the year ended 31sl December 2024 totalled £8,524 (Year ended 31st December 2023: £14,393). 24
All-Aboard! Water Sport and Water Recreational Activity (Bristol) Management Inforniation Year ended 31 December 2024 The following pages do not fonn part of the flnanclal statements. 26
All-Aboard! Water Sport and Water Recreational Activity (Bristol) Detailed Statement of Flnanclal Actlvities Year ended 31 December 2024 2024 2023 Income and endowrnents Donatlons and legacl88 Donations Grants 19,121 49.000 12,081 82,011 68,121 94,092 Charitable activltles Performance-related grants Water-based activities income Shore-based courses income 16,722 199,722 120 31,311 178,829 216,564 210.985 Olher tradlng actlvltles Income from room and equipment hire Sale of publications and merchandise Provision of safety boal cover Sale of refurbished boats 5,088 415 8,275 8,240 3,795 281 11,690 22,018 15,766 Other Income Income from sale of fixed assets and equlpment Miscellaneous Rental income 6,124 6,338 163 135 327 6,451 6.636 Total Income 313.154 327,479 26
All-Aboard! Water Sport and Water Recreational Activity (Bristol) Detalled Statement of Financial Activities {con(Inued) Year ended 31 December 2024 2024 2023 Expenditure Costs of other trading a¢tlvltl¢s Wages and salaries Other costs 7.215 6.020 3.583 3.501 13,235 7,084 Expendlture on charitable a¢tiviti•s Purchases Wages and salaries Employer's NIC Pension costs Repairs and maintenance Insurance Other motorltravel costs Legal and professional fees Other office costs Depreciation Olher interest payable and similar charges Other governance costs Licenceslmemberships Training Water.based actwities- marketing & PR 9,525 178,236 7,517 3,085 16,112 13,986 2,514 5.294 30,068 29,427 3,068 21,854 138.403 3.631 2.349 15,647 9,907 3,284 4,840 22,504 27,465 2,351 35 2,606 10.290 32g 4,451 6,860 2,643 313,628 265,495 Total expendltur 326.863 272,579 Net (expendllura)Ilncom• (13,709) 54,900 27
All-Aboardl Water Sport and Water Recreational Activity (Bristol) Notes to the Detailed Statement of Financlal Activities (contlnued) Year ended 31 December 2024 2024 2023 Expendlture on charitable actlvitles Water-based activities Actlvltles undertaken directly Water-based actlvltles - Actlvlty expenditure Water-based actlvltles - wageslsalaries Water-based activllles - employer's NIC Water-based activilles - pension costs Waler-based activities fuel and travel Waler-based activitles admin & sundries Waler-based activities - depreciation Water-based activilies - Bank and card Charges Water-based activities - tralning Water-based aciivities- marketing & PR 9,525 100.825 4.271 1,753 2,514 1,594 29,427 3,068 6,173 2,643 21,854 95,871 2,569 1.662 3.284 374 27,465 2,351 5,626 240 161,793 161,296 Support costs Water-based activities - wageslsalaries Water-based activities - employer's NIC Water-based activities - pension costs Water-based aclivities - malntenance and premises Costs Waler-based activities - insurance Waler-based activities - legal ancl professional fees Water-based activities - admin and sundries Water-based activities - licenceslmembership Water-based 8Ctlvllles - training 77,411 3,246 1.332 16,112 13,986 40,476 1,035 670 13,855 9,907 28,474 4,451 687 22,130 2,606 3,026 93,705 145,703 Shore-ba$ad cours•s Actlvltles undertaken dlrectly Shore-based courses - wage51salaries Shore-based courses - employer's NIC Shore-based courses - pension cosls Shore.based courses - training Shore-based courses - marketing & PR 1,864 22 14 1.638 3,627 Support costs Shore-based courses - wageslsalaries Shore-based courses - employer's NIC Shore-based courses - pension costs Shore-based courses - maintenance and premises costs 192 1,792 1,992 Governance costs Governance costs - audit fees Governance costs 5,290 842 4.840 35 Carried forward 6,132 4,875 29
All-Aboard! Water Sport and Water Recreational Activity (Bristol) Notes to the Detailed Statement of Fi nancial Activities {conlinuod) Year ended 31 December 2024 2024 2023 Brought forward 6,132 4,875 6,132 4,875 Expenditure on charitable actlvltles 313.628 265,495