## **Trustees’ Annual Report for the period** ## **From 1 January 2023 to 31 December 2024 Charity name: Exmouth Rowing Club Charity registration number: 1154367** ## **Objectives and Activities** |**Objectives and Activities**|**Objectives and Activities**|| |---|---|---| ||SORP reference|| |Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|The objectives of the Club are to promote com-
munity participation in healthy recreation by the
provision of facilities for rowing on an amateur
basis.| |Summary of the main activi-
ties in relation to those pur-
poses for the public benefit, in
particular, the activities,
projects or services identified
in the accounts.|Para 1.17 and
1.19|Formed in November 1993, Exmouth Rowing
Club is an inclusive, community coastal rowing
club.
We aim to bring the traditions and skills of estu-
ary and sea rowing to the town.| |Statement confirming whether
the trustees have had regard
to the guidance issued by the
Charity Commission on public
benefit|Para 1.18|The Trustees considers that the club satisfies the
Charity Commission’s guidance on public benefit.| ## **Additional information (optional)** You may choose to include further statements where relevant about: ||SORP reference|| |---|---|---| |Policy on grant making|Para 1.38|Not applicable| |Policy on social investment
including program related in-
vestment|Para 1.38|Not applicable| |Contribution made by volun-
teers|Para 1.38|The club is enthusiastically supported by a num-
ber of volunteers mainly in the form of mainte-
nance of boats, equipment and clubhouse plus
assisting during home regattas.| ## **Achievements and Performance** ||SORP reference|| |---|---|---| |Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to the
circumstances of its beneficia-
ries and any wider benefits to
society as a whole.|Para 1.20|The club continues to offer a healthy means of
outdoor recreation to the community of Exmouth
and surrounding East Devon.| ## **Financial Review** |**inancial Review**||| |---|---|---| |Review of the charity’s finan-
cial position at the end of the
period|Para 1.21|The club Treasurer compiles the Annual Ac-
counts and associated report and tables at the
Annual General Meeting.
The accounts are examined by an independent
examiner.| |Statement explaining the policy
for holding reserves stating
why they are held|Para 1.22|Reserves held and annually increased in sav-
ings account for the eventual long term re-
placement of boats| |Amount of reserves held|Para 1.22|~£45,000 (Redwood Bank savings account)| |Reasons for holding zero re-
serves|Para 1.22|Not applicable| |Details of fund materially in
deficit|Para 1.24|No applicable| |Explanation of any uncertain-
ties about the charity continu-
ing as a going concern|Para 1.23|No concerns| ## **Additional information (optional)** You may choose to include further statements where relevant about: |The charity’s principal sources
of funds (including any
fundraising)|Para 1.47|Annual membership fees
Sponsorship of boats
Grants| |---|---|---| |Investment policy and objec-
tives including any social in-
vestment policy adopted|Para 1.46|No investments other than general savings ac-
count for boat and equipment replacement.| |A description of the principal
risks facing the charity|Para 1.46|No significant potential financial risks.| page � of 42 ## **Structure, Governance and Management** |Description of charity’s trusts:||None| |---|---|---| |Type of governing document|Para 1.25|Constitution (revised February 2022)| |How is the charity constituted?|Para 1.25|Unincorporated association| |Trustee selection methods in-
cluding details of any constitu-
tional provisions e.g. election
to post or name of any person
or body entitled to appoint one
or more trustees|Para 1.25|The club has a minimum three trustees (current-
ly four). In the event of the number of trustees
reducing to three the Management Committee
will consider candidates for appointing an addi-
tional Trustee and present these four a member
vote at the next AGM| ## **Additional information (optional)** You may choose to include further statements where relevant about: |The charity’s organisational
structure and any wider net-
work with which the charity
works|Para 1.51|Management Committee comprising Chairman,
Deputy Chairman, Treasurer, Club Captain and
Secretary.
Welfare Officer and Safety Advisor as required
by our governing body British Rowing.| |---|---|---| |Relationship with any related
parties|Para 1.51|Affiliated with parent body British Rowing.| ## **Reference and Administrative details** |Charity name|Exmouth Rowing Club| |---|---| |Other name the charity uses|NA| |Registered charity number|1154367| |Charity’s principal address|Queens Drive, Exmouth EX8 2AY| ## **Names of the charity trustees who manage the charity** |1
2
3
4|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year**|**Name of person (or body)**
**entitled to appoint trustee**
**(if any)**| |---|---|---|---|---| ||D McDermott|None|Whole of 2024/25|Management Committee| ||M Drew|Life Member|2024. Resigned Feb 25|Management Committee| ||G Hurley|Life Member|Whole of 2024/25|Management Committee| ||L Norcliffe|Life Member|2024. Resigned Feb 25|Management Committee| page � of 43 ## **Funds held as custodian trustees on behalf of others** |**Funds held as custodian trustees on behalf of others**|| |---|---| |Description of the assets held in this capacity|Not applicable| |Name and objects of the charity on whose behalf the assets are held
and how this falls within the custodian charity’s objects|Not applicable| |Details of arrangements for safe custody and segregation of such as-
sets from the charity’s own assets|Not applicable| ## **Exemptions from disclosure** Reason for non-disclosure of key personnel details **NA** ~~Be~~ ## **Other optional information NA** ~~Ce~~ ## **Declarations** **The trustees declare that they have approved the trustees’ report above.** **Signed on behalf of the charity’s trustees** **Signature(s) Full name(s)** D.M.McDermott **Position** Trustee | **Date** 30 October 2025 ## **Exmouth Rowing Club – Registered Charity No. 1154367 2024 Financial Report and Annual Accounts** ## **Summary** Our Annual Accounts for the period of 1 January to 31 December 2024 are attached. On 31 December 2024 the club’s TSB current account balance was £6,048.35 and the Redwood savings account balance was £43,644.44. The total cash balance was therefore £49,692.79. As at 31 December 2024 the total declared value of our boats and equipment are £158,538. The declared asset values of our boats and our equipment are our insured values. This compares to a total cash balance of £53,063, and a total declared value of our boats and our equipment of £150,000, at 31 December 2023. The declared value of the Club’s boats and equipment are shown in Appendix A The Club’s Receipts and Payments accounts for 2024 are shown in Appendix B ## **Income /Receipts** Our main sources of income were : - Member subscriptions - £21,808 - Exmouth regatta - £1,028 - Movement for Good Award - £1,000 - Rent of our club house to third parties - £956 - Personal Boat storage - £600 - Boat Sponsorship – see below Event proceeds shown in the accounts covers income from members for attendance at the Wimbleball Lake training event held in May and for attendance at regattas the club attends through the year. This year we have split the summer party income out form other event proceeds as this has been done for the Christmas party in previous years. We have introduced a new heading of Miscellaneous receipts and payments into the accounts this year. This is to cover items where the club account has been used for the convenience of members to process transactions such as donations made by members towards Pete Bradshaw’s leaving present and for the purchase of commemorative Langstone Approach T-shirts. In a similar way the club purchased 5 small boat trollies this year, 3 of which were for private boats : the £255 payment received from members for the cost of these trollies is shown in the accounts under Sale of Equipment. The remaining £93.95 under Sale of Equipment was for the sale of scrap metal from club premises. During the year we received a £1,000 award from Movement for Good thanks to the efforts of Florence Lock. Several members are now storing their private single boats in the board yard on the recently purchased small boat trailer. The Club is charging £120 a year for the storage of these boats in the yard, which in 2024 has generated an income of £600. ## **Sponsorship** We have maintained the same sponsorship rates for 2025 as we had in 2024 : £580 for Quads and £235 for singles and doubles. |The following sponsors|from 2024 have agreed to sponsor boats for 2025 :| |---|---| |Safran 002|Rockfish - £580 plus an additional £920 funded through| ||the optional £1 donation they have available on the bill| ||at their restaurant| |Ruby 023|The Terrace / Exmouth’s Best Kept Secret - £580| |Rushworth 026|Seawood Chandlery - £580| |Single 027|P4P Fitness - £235| This totals £2,895 in sponsorship secured for 2025 to date. These sponsors were invoiced in December 2024 but no sponsorship monies were paid by 31 December 2024. The £815 figure stated in the accounts to 31 December 2024 is for the £580 paid by Seawood in January 2024 and £235 paid by Bar Buoy in February 2024 : both for 2024 sponsorship. ## **Expenditure / Payments** Our main areas of expenditure were : - Equipment Purchases - £12,414.39 - Insurances - £4,971.17 - Equipment repairs and servicing - £4,367.50 - Building maintenance - £3,932.63 - Clubhouse Rent - £3,500 The main items of equipment that we have purchased this year are : - New Lite Boat double - £8,112 - Covers for Rushworths - £1,356 - New small boat trailer - £1,200 - Boat cover for the new double - £340 - Two small boat trolleys - £170.50 - Access ramps for use at bottom of slipway during period of beach erosion - £150 - Racing marker buoy - £111 This year we have undertaken work on the front of the boathouse to resolve the leaking front face. The cost of the works was £2,000 for the roofing contractor, £912 for the scaffolder and £181.74 for masonry weatherproofing paint. We have also undertaken work to fill in potholes in front of the boathouse (£250) and install vents in the downstairs windows into the boat storage room (£230) We have now negotiated a new Boathouse rent with East Devon District Council (EDDC) following a rate review. As advised in the 2023 Treasurer’s Report, and at the 2023 AGM, we have had to agree to a substantial increase in the rent from the figure of £2,150 we were previously paying to EDDC. This is due mainly to EDDC not taking up the option to undertake a rent review in the first 10 years of our lease. After extensive negotiations with EDDC we have agreed the following rent plan with EDDC : - £3,500 for the year commencing 23 January 2024 - £4,500 for the year commencing 23 January 2025 - £5,500 for the year commencing 23 January 2026 - £5,500 for the year commencing 23 January 2027 - £5,500 for the year commencing 23 January 2028 South West Water have reviewed our Direct Debit plan based on our actual water consumption. Our water bill dated 23 August 2024 was for £322.75 after taking into account the Direct Debit payments we had made up to 1 August. South West Water have therefore increased our monthly Direct Debit payments from £26.50 a month to £86 a month to clear this bill. It should be noted that our Direct Debit payments have fluctuated over the years with us paying £38 a month from November 2022 to October 2023, and then £26.50 a month from November 2023 to September 2024. ## **Subscriptions** Our subscription year runs from the 1 April to 31 of March. The annual adult membership fee was **£250** for 2024/25. In accordance with our Constitution, the Management Committee is responsible for reviewing the annual membership fee each year. Now that we have resolved the issue of the rent review with EDDC that gave us an element of financial uncertainly entering the 2024/25 subscription year, the Management Committee propose that there is no increase in the member fee for the 2025/26 subscription year. ## **Membership** As of 31 December 2024 our active membership stood at 98. **----- Start of picture text -----**
Membership 31-Dec-23 31-Dec-24
Adult 92 93
Junior 4 5
Student 0 0
Life (active)
a. Sub total active rowing members 96 98
Life (not active) 6 7
Non rowing 10 11
b. Sub total non-rowing members 16 18
TOTAL (a+b) 112 116
**----- End of picture text -----**
## **Insurance Claim against ERC** The liability claim that we faced earlier in the year is in process of being settled with the claimant. Howdens, our broker have managed the process on our behalf and are satisfied that we have met our obligations. Necessary repairs have been completed and ERC will ensure that any future potential trip hazards are dealt with immediately. The value of the claim is expected to be met by our insurers without any liability on the club. ## **ERC Finance Roles** In 2024 the finance/treasury roles at ERC were spilt as follows: - **Treasurer** : James Issac - Oversight, strategy, insurance claim, EDDC Rent - review - **Deputy Treasurer** : Andrew Merrick – Reporting, Payments in/out, invoices, - monthly allocations. - **Contracts/Policies** : Andrew Merrick. Insurance renewals (x3), Ordnance - Survey contract, water, electricity, broadband - **Sponsorships** : Willie Bogaardt and Belinda Eaton this role involving - processing of renewals and onboarding of any new sponsors. - **Grants/Fundraising** : Florence Lock ## **Financial Planning** ERC has a “Saving and Spending Strategy 2019-29” which identified as saving target of £50,000 by 2029 the replace our 3 heavily used and ageing Safran quads as and when each becomes unserviceable. These boats continue to be the “workhorses” of the club. It is recommended that following the 2024 AGM a working group is set up to review the current strategy and develop a boat replacement strategy for review and approval by the Club membership, with a view that this strategy starts7 to be implemented in 2025. The club continues to operate as a registered charity. As required by the Charity Commission our accounts have been independently examined and signed off by John Redwood a Fellow Chartered Certified Accountant (retired). **James Isaacs Andrew Merrick Treasurer Deputy Treasurer** **----- Start of picture text -----**
Appendix A - Exmouth Rowing Club - List of Assets
List of Assets @ 31.12.2023 List of Assets @ 31.12.2024
Boats & Equipment
2023 2024
(Insured Values)
Description No. Value Totals No. Value Totals
Rushworth quads (EXM 021, 022, 026) 3 £36,000.00 3 £36,000.00
Saffran quads (EXM 01, 02, 03) 3 £24,000.00 3 £24,000.00
'Ruby' quad (EXM 023) 1 £12,000.00 1 £12,000.00
LiteRace quad (EXM 025) 1 £12,000.00 1 £12,000.00
Donoratico Double (EXM 022) 1 £3,000.00 1 £3,000.00
LiteRace 2x - - 1 £8,352.00 Added 27/4/25
LiteRace single (EXM 024) 1 £4,000.00 1 £4,000.00
LiteRace single (EXM 027) 1 £4,500.00 Added 9/8/23 1 £4,500.00
Arancia Support Boat 1 £6,000.00 1 £6,000.00
Tohatsu 30HP outboard 1 £2,500.00 1 £2,500.00
Arancia beach trailer 1 £750.00 1 £750.00
Road Trailer for quads 1 £3,000.00 1 £3,000.00
Road trailer for small boats - - 1 £1,200.00 Added 26/07/24
Pairs of Croker Sculling blades Pairs of Z&J sculling blades (EXM 36 £21,600.00 30 £18,000.00
025) 4 £1,600.00 4 £1,600.00
Pairs of "Blades GB" blades 4 £1,200.00 4 £1,200.00
Gas Lifejackets 9 £630.00 9 £630.00
Bouyancy jackets 8 £320.00 8 £320.00
100 N Lifejackets 32 £640.00 32 £640.00
Radios 9 £1,260.00 9 £1,500.00
- -
Marker buoys 3 £600.00
Covers for Rushworths - - 2 £1,356.00 Added Jan. 2024
Boat cover for LiteRace 2x - - 1 £240.00 Added Nov. 2024
Motorcycle Loading ramps - - 2 £150.00 Added April 2024
Specifically insured £135,000.00 Specifically insured £143,538.00
Boathouse Contents £15,000.00 Boathouse Contents £15,000.00
£150,000.00 £158,538.00
**----- End of picture text -----**
|**Appendix B - Exmouth Rowing Club**|**Appendix B - Exmouth Rowing Club**|**Appendix B - Exmouth Rowing Club**|**Appendix B - Exmouth Rowing Club**||||| |---|---|---|---|---|---|---|---| ||||||||| ||**Receipts and Payments account for the year ended 21st December**||||||**2024**| ||||||||| |||||**2024**||**2023**|| |||**Income**|**Expenses**||||| |||**£**|**£**|**£**||**£**|| ||||||||| |**RECEIPTS**|||||19,622.64
2,749.77
278.67
-
250.00
3,538.00
-
-
1,234.60
600.00
3,250.00
-
2,549.69||| ||Subscriptions|21,807.75||21,807.75|||| ||Events|5,594.40|3,941.16|1,653.24|||| ||ChristmasParty|1,675.00|1,793.43|(118.43)|||| ||Summer Party|1,320.00|1,035.77|284.23|||| ||Insurance claims|-||-|||| ||Boat Sponsorships|815.00||815.00|||| ||Sale ofequipment|349.70||349.70|||| ||Personal Boat Storage|600.00||600.00|||| ||Bank interest|1,513.03||1,513.03|||| ||RentIncome (Ordnance Survey& tempusage)|955.77||955.77|||| ||Grants|1,000.00||1,000.00|||| ||Miscellaneous|570.00||570.00|||| ||Donations|287.00||287.00|||| |||36,487.65|6,770.36|29,717.29||34,073.37|| ||||||||| |**PAYMENTS**|||||||| ||Insurance||4,971.17|||4,827.27|| ||Clubhouse /LandRent||3,500.00|||2,150.00|| ||Water||496.50|||433.00|| ||Electricity||875.53|||769.97|| ||Broadband||237.41|||263.74|| ||Stationary &Postage||-|||120.65|| ||Webiste||59.29|||49.39|| ||EquipmentPurchases||12,414.39|||6,620.75|| ||Equipmentrepairs and servicing||4,637.50|||7,407.85|| ||BuildingMaintenance||3,932.63|||730.10|| ||Boathouse Consumables||223.02|||354.51|| ||SupportBoat- Fuel||30.64|||44.20|| ||British RowingAffiliation fee||930.00|||693.40|| ||WEARAannualsubs||100.00|||80.00|| ||Subscription refunds||-|||301.68|| ||Training||-|||7.85|| ||Entertainment /Prizes||149.44|||27.75|| ||Miscellaneous||530.00|||-|| |||||33,087.52||24,882.11|| ||||||||| |**NET(DEFICIT) / SURPLUS FOR THE YEAR**||||(3,370.23)||9,191.26|| ||||||||| |**ADDOPENING BALANCES**|||||||| ||TSB Bank|||7,431.61||8474.95|| ||Redwood SavingsAccount|||45,631.41||35396.81|| ||||||||| |**TOTAL CASH FUNDS**||||49,692.79||53,063.02|| |**Represented by:**|||||||| |**CLOSING BALANCES**|||||||| ||TSB Bank|||6,048.35||7,431.61|| ||Redwood SavingsAccount|||43,644.44||45,631.41|| ||||||||| |||||49,692.79||53,063.02|| ||||||||| |**I have examined the above Receipts and Payments Accounts, and certify them to be inaccordance**|||||||| |**with the underlying records.**|||||||| ||||||||| |**Signed -John Redwood**|||||||| |**FCCA (retired)**|||||||| |**17th February 2025**|||||||| CHARITY COMMISSION FOR ENGLANO AND IVALES Independent examlnerfs report on the accounts S•cUon A 1fid•p•n￿ Ex4mln•rf• R•port R•port to th• Exnbxth R￿rg Cl m•mb•rs ol On •ccounts fr*r th• y•ar 31 D¢ or bDdy Irf •ny)= [_ IER Octol>•r 2018 AddrH•: I, lJ)*v Hkn*crfarxl. A>'lcthwr. ￿tIff, F.X4 2JJ S•¢llon 8 IER Octob•r X118 Gfv• h•rn INI￿ d•l•ll• ol any It•mJ th•1 th• •umln•f *ishM to IER Octob•r 2018