Charity registratlon number 1157563 Company r•gistration numbor 07388256 (england and Wales) LEA ROWING CLUB LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE 15 MONTHS ENDED 30 SEPTEMBER 2023
LEA ROWING CLUB LIMITED LEGAL AND ADMINISTRATIVE INFORMATION President D J Porter Trustee8 S Clark DRNEIIIS A Jucker M Pooley D J Porter T Kwiecinska G M Connogly E Stephen D Slavin (Appointed 29 October 20231 (Appointed 29 October 20231 (Appointed 29 October 20231 (Appointed 17 June 2024 Charlty numbor 1157563 Company nUMr 07368258 Rgglstered offlce The Boathouse Spring Hill Clapton London UK E5 9BL Independont examlngr Thomas Qulnn Th8 Slalion House 15 Sialion Road Sl Ives Cambrfdgeshire PE27 58H
LEA ROWING CLUB LIMITED CONTENTS Page Trustees, report ststemtsnt of tnjslees, responsibilities Independent examin8rf3 rèport Stslemonl of flnancial actlvllles Balance sh88t Not88 to the flnanclal statom8nts 10-19
LEA ROWING CLUB LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE 15 h10NTHS ENDED 30 SEPTEMBER 2023 The Irusl&es present Ihelr report and financial ststemerrts for the 15 months ende(J 30 September 2Q123. The financlal stslements have been prepared in accord8nce with the accounting policies set out in note 1 to the financial s181emenls and comply with th8 Charity's governing document, the Companies Act 2006 and 'Accounling 8nd Reporting by Charities.. Statemenl of Recommended Praclu applicable to charities preparing their accounts in accordance wllh the Financial Reporting Stsndard applicable in the UK and Republic of Ireland {FRS 1021 leffecdv8 1 January 2019}" ObJectlv•s and actlvStles Thg purpos88 Qf Ihe charlty are.. {11 The promotion of community participaln In healthy recreation in p8rticu18r by the provision of facilities for rowlng, sculllng and other sports I'facililles" means land, buildlngs, equlpmenl and organising sportlng actlvlllesl.. 121 Providing and assisting In providing tscilities for sport, recreallon or other 18isure limg occupation of such pèr80ns who have need for facllllies by reason of thelr youth, age, Inflrmlty or disabl8m8nl, povgrty or soclal and economi¢ circM$n¢es or for Ihg public al large in the intgresls of social welfare and wrth the object of Improvlng th6Sr wndillons of Ibfe. Publlc Bonaflt Stgtsmonl Th8 Iru8188s hav8 pald due regard to guldance 188ued by th8 Charfty Commlssion In d8cldlng wh8t actfvitles th8 charty should undertake. Th8 ohBrity is an amateur rowirKJ dub, which provides equipmenl, coaching and facilities to ena8 members of th8 Ioc81 cK)mmunily to p8rtlclp8te in th8 Sport of rowing in their spare Ilme. As well as training locally, the tharitrf5 members compete nallon8lly and intemationally in rowing competition8. Achi•vom•nt$ and pgrformanc• Thi3 past 2022-23 season was the first full year out of covid restrictions. and the first time we've really been able to lake a slep forwards since th8 pandemic. Numbers are booming in all parts of Ihg Club. Wg pul a lol ol focus on "c*ne dub" ethos. More Socials, more busy night8 in the bar. more opportunities to bring the many parts of our ommunity together In one placg. It's working - the boathouse is buzzing wllh al¥llY 811 day. all week. Our reGreo1ional sectlon Is particularfy healthy. wilh numb8r5 nearfy douE4e that of three years ago. A growing contingent is showing inleresl in compgtitivg rowing, and the club i¥ now a m8mber ol the Thames Valley Explo League. a circuit of fvn, not-loo-serious events in stable boats. We ran our very own roc event, dubbod "Lga Mans" lo great success - and I hopè il will continue. We'vg also pushed fowards on lh8 raong circull. I'm most proud that we w6r8 the only club al this year's HRR to quallfy crews for dub men, club women, lunlor men and Junior woman's evènts. On8 of thos8 was the L&a's first ever women's eight, which w88 pr&qualffied for the Wargrave Cup. A particular shout-out is due to Evelyn Pak, a Laa junior who won GB'S ffir81 ever Inlemalionèl beèch sprlnts gdd medal 81 the European Champlon8hlps in September- congralulatlons lo her and coach Yowande Adesldal Coaching is alayS a challenge In such a larye. volunleer-led organisalion, and we've been working haré lo expand our already-fantastic team. You'll have seen that we are adverNslng for new coachlng blood, wlth an eye on improving our pprformance across the bo8rd - expect more focus on this over the corning year. Fundraising has been a fnassive focus thls year. our Friends of thé L88 alumni Initiative. launthwj in 2020. has already man8ged to fund sevef81 small boats and sgts of oars. We've run several very suwssful experience days for corporate dients. Our Leam to Row programme continues to generate significant income. And we ran a very successful crowdfundin9 Campaign which means that, for the first timg in about a decade, we'Tg aboul to buy ¥0 brand-new first eighls for the club, with more boats to follow. We continue lo create new opportunities for our locd diverse community lo try our sport. Our I Belong project gS from strength to strength with ils .1 Arn A Rowert exhibition shortly to Pop-up al the River and Rowing Museum in Henley. We have developed partnerships and received grant funding from organisations including Youth Experlence In Sport. Thames Water. Hackney and Wallham Forest Councils, Love Rowing, the Canal & River Trust, Ihe Hacknèy Mvjrant Project, Had(ney Chinese and the Black Swimming Asswation.
LEA ROWING CLUB LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE 15 MONTHS ENDED 30 SEPTEMBER 2023 A recent highlight Was the sv¢cessful pllol of indoor and on-waler rowing with a group of d68f and deafblind n)wers from 8cross East London, which will continue into 2024. Thi8 all culminated in our surprise win of British Rowing's Club of the Year award. The standout reason hbghllghted by the Sudges was our on90ing commilmenl to priorilise indusion and broadening access to Towing, alongslde perfomiance rowing at tha highest lèvel. Ther8 are not many clubs out Ihere successfully quali.ng for Henley regatta in both junior and 86nior das8es, whlle also running le8m to row class8s, schools progr8mmes, recr&ationg1 sections, 8nd so Dn - 8nd we're being noticed. We had mcenrfy had a comment on soc181 media frorn an outside observ9r that has Stuck with rne.. 'The Lea exemplifles that inclusion is not just being 8ccepling- Ixjt also welcoming, encoL¢raginG and seeking out new rowers from communities who do not acc8ss our - or 8om8ts.mes any - sport.. Or pul anolh8r way.. with a bit of creative Ihinking. there are no such things as barrier8. I'm firmly convlnced that the future ol our dub rg1ie8 on thi5 philosophy. Lon9 may it continue. Flnanclal revlow 11 is thè policy of the chority that unrestricted funds which have not been de3ignatad for a Specific use should be maintained 81 8 level equiv818nl lo beLween thre8 and six month's expenditu. The trusl88s nsider that reserves al thls level will ensure that, in the event of a signiflcanl drop in funding, they 11 b8 able to continue the charity's current 8clSvllies while considgration ig given to Ways In which addillonal fund8 may be raisgd. Thls levfrl of r&sarves has been maintained throughout the 15 month8. The Irusle6s has assessed the major risks to whieh the charity is exposed, and are salisffied Ihot $y81ams are in plac8 lo miligala èxposure to the major risks.
LEA ROWING CLUB LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE 15 MONTHS ENDED 30 SEPTEMBER 2023 Slruclure. governan and management Lea Rowlng Club Llmlled Is a company Ilrnlt8d by guaTar)tee gov8rn8d by ils Articlas of Association dated 16 March 2014 as 8mended on 5 Jun8 2014, 23 Octob8r 2015. 4 November 2017 and 5 Septembef 2019. It is registered as a charity with the Charity8s Commission in England and Wales (No.. 11575631. Anyon8 may become a m8mber of the Gharity, e8ch ot whom undertakes to conln'bule £10 to Ihe ass6ts of the company in the event of it belng wound up. Governlng l>ody The m8mbors of tho Board, who afè Ihe charity trustees and Company dlrectofs, arg th8 charity's princlpal deci5ion-making body. The Board exercises all powers of the cgmpany, 8x¢xpt 8$ rastrict8d by Spe(aal Resolulion of Ihg members or the Artid88. In particular, Ihg Board cannot borrow mor9 than £IO,(XIO in totsl wlthoul prior apwoval of a r8solulion agrged by Ihe members in a general rneeling. Most Board mgmbgrs are elecl&d by ihe ch8rity'8 members al the Annual Ggnorol M88lln9 IAGMI. The President, who Is also th8 chalr of the Board. setve8 a three-ye8r term and 1$ nomlnal8d $018ly by tha Board. Their appolnlment musl be agreed by a knlhirds majority at the AGM. Alongside this, thore org six named Board posrtlons - Sacretary, Flnanc8 Dlrector, Captaln. Faclllll&8 Dbreclor, Junlor Rowlng COrdIna10r, H6alth and Safaty c(ordInat0r- and one additional dirèctor who Ére 818cl8d at 8ach AGM. Any member aged over 16 who has held memb8rshlp for 12 month8 conllnuously may be nomlnalad and &lecleiJ lo Ih&s6 Board posillons. The immedlat8 previous Captairb and Presldanl are also ellgible lo be dect8d lo continu8 on the Board by the AGM. In addltlon to the elected dlrectors, the Board may 8nnually c0P1 Iwo further pers¢)ns lo loln the Board. BDard members ay? limitèd lo a maximum tsf nine CDnsecutNe years on the Board. except for the Prasidenl where this limit is 12 consecutlvg years, and the Captain where tho limit is three consecutive years. Board members are not remuneralgd for their positions. Other structur88 and rolo8 Thè Board is supported In ils work by 8 range ol voluntary rol88 within the charity. Principal amongst these are th9 Men's and WDmgn's Vic&Captains. who are elected by the AGM. Other rc4es, such 88 CX)8ching po8illons. are appointed by the Board or on Ihèlr delegated authority. e.g., by the C8p18in. To manage th15 structure, the Board have adopted a Ggvgmance Manual to prescribe a fromgwork of principles and rul88 for the oporalion of lh8 ch8rity In further dglail. M6mbers are organ1s for the purp0888 of tralnlng and coachlng Into varfous rowlng squads, whlch dlffer 0.9. by training intsnsily, r8quired lime commllmenl and level of techni1 abillty. In partlcular, adults and children train in diffBrènl squads and with differ8nl coaches. The Board is èntitled lo delegate ils wwers to commlttèès. At the present Ilme, thè Board h8ve e8t8tAlsh8d formal committees. The Rowing Commrtt88 is dologated authority to n)anage all day-to-day matters relating lo the organL8allon of rowng at the charlty, such as settlng goals and obj8CtiV8s for the rowlng squad8. It Is chalrad by the Captaln and allended by the Men's and Women's Vice-captains and other voluntary roles. The Facilities Committee is dglegotgd authority to m8n8ge all d8y-IL>d8y matters relating to the charity's facilities, such 8s the maintenance of its buildings.11 is chaired by the Faalilies Director.
LEA ROWING CLUB LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE 15 MONTHS ENDED 30 SEPTEMBER 2023 Rel8tgd partl•s In February 2020 the tharity IncorpoTaled a whollwwned subsidiary trading company, Lea Evonts Limited (company numbeT 124439661. 10 sUPPOrt funding raising arising from its facillts'es. The directors of Lea Events Llmlted ar8 8ppoint8d by the Board of the charity. The Iruslees, wfro are also the dlrectors for the purposa of utrmpaTry law, and who serMI durtng Ihe 15 months and up lo the date ol signature of the financial statements wgro.. {Resigned 29 October 20231 C Barry S Clurk M Cushway DRNEIIIS A Jucker M Pooley D J Porter F Shearer Mr D M8cDonald T Kwiecinska G M Connegly E Siephen D Slavin (Resigned 29 October 2023) {R8slgn8d 16 Octobèr 2022) {Resigned 28 September 20231 (Appolnled 29 October 20231 (Appointed 29 October 2023} (Appointed 29 October 2023) (Appolnled 17 June 20241 None ol tha tfuslees have gny beneficigl intgrosl in th9 company. Al ol the trustees arg mèmbers of Ihg company and guaranlg9 to contrtbulé £10 in the event of a ndIng up. Thè Iruslees, report was approved by the Board of Tru$lee8. D J Porter President
LEA ROWING CLUB LIMITED STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE 15 MONTHS ENDED 30 SEPTEMBER 2023 Tha trustees, who ar6 also the directors of Le8 Rowing Club Limltsd for the purpose of company law, are respon8iNe for prepanng tho TrLJslees' Report and the financial statements in accordance with applicaNe law and Unlled Kingdom Accounting Standards {Unlled Kingdom Generally Accepted kcounling practi). Company Law r6quSres the trusle8S to pr8par8 fin8nci81 statements for each financial year whlch gfve a true and foir view of the state of affairs of the charity and of the in¢oming resources 8nd application of resour¢ès, induding the Income 8nd expendrture, of the charlIae company for th8t 15 months. In prep8rlng these financlal stal8ments. tha trusl•ès ar8 raquirad to.. 6018ct sulta£ accountlng policl8s and then apply them con8lsl8ndy'. - observe tha m6t*)cKls and prlnclpl88 In the Charlll88 SORP; make ludgamanls 8nd eslimotes Ihal arg roasonab antl prudgrbt.. and prepar8 th& fln8ncial 8tstsm8nl8 on the golng concem b8818 unless It18 Inapproprlala to prasume that the charlty wlll continue in operation. The Iruslees are responslblè for keeping BA8qualg accounfjng rerS that disclose th reasonabl6 accuracy al any lime the financial posib'on of the ch8rity 8nd enable them to ensure that the financial statements comply wlth the CDmpanl8s Act 2006. They are also responsible for safeguarding the assets of th¢ Gharity and hence for taking reasonable steps for the Prevention and detection of fraud and oth8r irregulariknes.
LEA ROWING CLUB LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LEA ROWING CLUB LIMITED I report lo the trustees on my examination of the financial statements of Lea Rowing Club Litmited {the charity) for the 15 months ended 30 September 2023. Rg$pon#iblliti88 and ba81¥ of report As Ihts trustees of the charity land also ils directors for lh8 purposes of comp8ny lawl you arè responsible for the preparatlon of th& financS8l st8tèments In accordancè with th& r8quir8mènts of the Companles Act 20( Ith8 2006 Actl. Having satisfied myself that the financial statements of the charity are not required lo be audited under Part 16 of the 2008 Act and ara eliglble for ind8P8ndanl gxamlnallc, I report in respect of my examlnatlon of the charity's financiol statements Caled out und6r se¢lion 145 of the Charities Act 2011 (the 2011 Acll. In carrying out my xamlnallon I have followed all the apF4icable Oir8ctions given by the Charlty Comm1861on und8r sectlon 145{Sllbl of the 2011 Act. Ind•pond•nt oxamln•rfg ytatement Sin¢e the charily's gross in¢om8 exceedod £250,000 your examiner must be a membgr of a body lisl8d in secllon 145 of the 2011 Act. I conflrm that l am qualllled to undertake tho 8xamlnallon bec8usa l am a membar ol ICAEW, which is one of the Ilsted bodies. I have completed my examination. I confirm th81 no malters have com8 lo my attentlon in connection with the ex8mlnallon glvlng me caus8 to bell8v& that In any moterlal r8speGI'. 8ccountSng records were not kepl in respect of the charity as qUired by so¢lion 386 of the 2006 Act., or the fln8ncial slaloments do not accord wilh Ihose records., or the financi818¢atements do not comply with tha 8ccounllng requlremanl8 of seotion 396 of the 2008 Act othgr than Bny requirement that the accounts give a Irue and falr view whlch is not 8 matter consldered as part of #n independent examlnation; or the financiol slalemenls hÉve not boen prepared in accordonct with the methods and principle8 of the Stat8m8nt of Recommended PrBcllce lor accounllng and reportlng by cl)aflfjas appllcable lo charllles preparing thelr a¢wunls in 8ccordance with the Financial Reporting Stsndard appllcable in the UK and RepU1C of Ireland IFRS 102}. I hav8 no conc8m8 and have comè acr08s no other matter8 In connectlon thè 8xamlnatlon lo whlch atlenllon should be drawn in this report In order to enablg a proper under818nding of the finana'al slalements to b¢ reached. Thomas Qul The StAtion Houso 15 Station Road St Ives C8mbridg8$hlr8 PE27 5BH 27 June 2024
LEA ROWING CLUB LIMITED STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE 15 MONTHS ENDED 30 SEPTEMBER 2023 Unrestrictèd R¢6trfcted fund# funds 2023 2023 Total Unrestrlcted R95tr1cted funds lund8 2022 2022 Total 2023 2022 No¢e$ Income and endowm•nt* from: Donations and legacies Charitable acliviligs Other Iradlng activiti88 Inveslmonts Other income 89.776 239,532 40,130 129.6 239.532 25,932 177,591 87,484 76,094 59,671 41,627 67,559 177,591 87.484 76.094 59,671 99,878 63,455 99,878 63.455 Total Income 492,641 40,130 532.771 428,772 41,627 468,399 Expendlturo on., Charilabla acl5vlti88 460.498 26.532 487,030 400,517 49.359 449,876 Total axpendlturo 460,498 26.532 487,030 400.517 49,359 449,876 Net Income •nd movemtnt In funds 32,143 13,598 45,741 26.255 {7,732} 18,523 Reconclllallon of funds: Fund balances al 1 July 2022 344,029 789,591 1.133,620 317,774 797,323 1,115,097 Fund balan¢u at 30 S•pt•mber 2023 376,172 803.189 1,179,361 344.029 789,591 1,133,620 The statement of flnanc181 aGtivities indudes all galn8 and lossos recogni$¢d in the 15 months. AJI income and expondlturg deriva from oontsnulng aclivili86.
LEA ROWING CLUB LIMITED BALANCE SHEET (CONTINUED) ASAT30 SEPTEMBER 2023 The members have not required the company to obtain an audit of Èts finanaal statements for the 15 months in question in accordance with $ection 476. These flnancial statwments have baen prepared in accordance with the provisions 8pplicabl8 lo compan1es subj8¢t to the srnall companies regime. The fin8nci81 statements were approved by the Trustees on .. D J Porter Tru8toe Company Reglstratlon No. 07368256
LEA ROWING CLUB LIMITED BALANCE SHEET AS AT 30 SEPTEMBER 2023 2023 2022 FIx6d as80ts Tangibl8 assets Investment prop8rti8S Investments 12 13 14 942,910 180,792 1,007,685 186,078 1,123,704 1,193.765 Curront aisots Debtors Cash al bank and Sn hand 15 46,126 202,434 33,565 124,284 248,560 157,849 Crndltorn: amounts falllng duo wlthln one year 16 162,9031 87,9941 Not ¢urr8nl 888618 185,657 69,855 Totsl ••#•tB1088 currnnt Ilabllltlgs 1,309,361 1,263,620 Cr•dltors: amounts falllng du• aft•r moro than one y•Ar 17 1130,0001 {130.000) 1,179,361 1.133,620 Incom8 fund¥ Reslricled funds Un¢oslricl&d funds 18 803,189 376,172 789,591 344.029 1,179,361 1,133,620 The company is entillad lo tho ex8mption from the 8udil requirement contsined in 8edon 477 of th8 Companies Act 2006, for the 15 monlhg ended 30 September 2023. The directors acknowledge their responsibnities for complying with the requirements of the Companles Act 2006 with respeGI lo accounting records and the prep8raiion of financial stalements.
LEA ROWING CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE 15 MONTHS ENDED 30 SEPTEMBER 2023 A¢countlng pollclos Charlty inf0mtion Lea Rowlng Club Llmlted Is a privat& company limtted by guarantee Incorporated In England and Wales. The register8d office is The Boathouse, Spring Hill, Clapton, London, E5 9BL, UK. 1.1 R•portlng perlod The current period ef accounts is for 8 period of 15 months to dign the charitys y88r end wilh other group 8ntitias and thg rowlng cal8ndar. As a result tho comparative inforrnalion Is not gnllr8ly comparabla. 1.2 Accountlng n¥•ntIOn The financlal stalernenls hav& b88n preparad in accordance wlth th8 chartly's governing document. the Companies A¢t 2006 8n(J "Accountrng 8nd Reporting by Charities.. Slalement of Recommonded Practice appllcabla to charbllès pr8paring th8lr acctsunls in accordance with the Financ181 Reporting Standard applicable in the UK and RepU1C of Ireland IFRS 10211offective 1 January 20191" Thg charily Is a Publi Banefit Entity as dafined by FRS 102. The charlty has taken advanl89e of the provisions in th& SORP for ch8rlU¢s applying FRS 102 Update Bull8lln 1 not lo prepare a Statement of Cash Flow8. The financial statements 8r8 prepared in sl8rling, whlch is the functional currency of the eharity. Monetary 8mounls in thes8 flnancl818talem6nls are rounded lo the nearest £. The fln8nclal stsl8mfjnts hove been PTtspared undèr th8 historical rthl convenllon, The princlpal 8¢counllng pollcies adopted are Sel out below. 1.3 Golng ¢onc•m Al the time of approvlng the flnanciol statgmonts. th8 trustees have a reasonable expB¢tation that the charity has adequate resource8 to conllnug in operalional existence for the fores88ablg future. Thus Ihg Iruslee$ continue lo odopl the going concern basis of ac¢ounts'ng in Preparing tho financlBI slatemgnts. 1.4 Charltablg funds Unresldcted funds ar8 avall8ble for us8 at the d18cr8fjon of the trust888 In furthfrranct of Ihalr oharltsble obj8ctlves. Restrided funds are subject lo $CIfIC conditions by donors or grantors as lo how they may be u$¢d. The purFoses and uses of the restricted funds are set out in th8 notes to thè finanryal statements. Endowm8nt funds af8 subject to specrfic CA)ndition8 by donors that the pital must b8 maintsined by tho charity. 1.5 Income Income Is recognised when the charty is legally entstled lo il after any perfomiBnce conditions have been meL the arnounts can be measured reliably, and il is probable that income will be received. Cash donationg ar8 racogni88d on rec8ipI. Olhèr donatlons are recognlsed once the charity has been notifled of the donation. unless performance condibons require defèrr81 of the amount. Income tsx rècoverable in relallon to donations received under GiftAld or deeds of covènant Is recognlsed at the tlme of rec8lpl. Legacios are recognised on receipt or olh6Nis¢ if the charity has been notified of 8n impending distribution. the amount is known. and receipt is expected. If the arnount is not known, the legacy is treated as a contingent asset. 10-
LEA ROWING CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE 15 MONTHS ENDED 30 SEPTEMBER 2023 Accounllng policies Icontlnued) 1.6 Exp8ndlture All expenditure is recognlse(l once there is a legal or constructive obligation to th8t 8XP8nditUf8, it is prcsbable settlement is required and the amount can be rne8sured reliably. All cosls are allocated lo the applicable exptsndllure heading that aggregate similar costs lo that category. Where costs cannot be diredy allributed to particular headings they have been allocated on a basis consistent wilh the use ol resources, with central staff costs allocated on the b8sis of lime spent, 8nd depreciation charges allocated on the portion of thè assel's use. 1.7 Tanglble flxed assotg Tangiblg fixed assets are Inlllally measured at C08t and subsaquently measurèd al COBI or valuatlon, nel of depr9ciakn.on and any Impalrnenl losses. Dopreclation 18 recognlsed 30 a8 to wrlle off the ¢ost or valu8tlon of assats less their r8sidual value5 over their Usèful livos on the following basès.. Leasehold land and building8 Plant and equipment Flxtures and fittings Molor vehicles 50 ye8r8 straight line 20% Straight line basis 25% r8ducirvJ balance ba818 200A straight line basis Th8 galn or loss artslng on the dlsposal of an 8ssel18 detsmilned gs the dlff8rgnc8 b&tW88n Ihe sale proceeds and the carrying value of thè asset, and 18 recognisèd in Ihts st818rn8nl of financS81 acllvllies. 1.9 Investm•nt property Investment property, whlch Is PrOrtY held lo eam rentsls andlor for capitsl approciallon, Is Inllially recognised al cost, which indudes the pu¥ch8S8 CO81 and any diredy attributable expendllure. Subsequenlly it Ss m025ured at fair valuè at Ihe reporbng end date. The Surplus or defi'cit on revaluation is recognised in profil or10sS. 1.9 Flx•d a¥$•t Invostmgnts Fixed asset investments are Initlally measured al transaction price excluding transaction wsts. and aro subsoqugnlly measured 81 fair valua al 88ch reporting dale. Change8 in f81f Value aro rownised in net incomellexpendilurel for the year. Transaction costs are expensed as incurred. A subsidl8ry is an enlily controlled by the ch8rty. Control Is the P¢)wer to govem the flnancial and oper8tSng pdicies ol the entity so as to obtain benefits from its activitiè$. 1.10 Impalrm•nt of fix8d assets At each reporting end dgle. the chaiity reviews the carrying amounts of its tangible assets to determine whether Iherg 1$ any Indicatlon that those 8ssets have suffered an irnpaimienl loss. If any such indicatlon fjxisls, the recoverable amounl ol the asset is estl'mated in order lo delemiine the extent of the Impalrment loss lif any}. 1.11 Cash and cash •qulval•nts Cash and ¢ash equivalents Include cash in hand. deposits held at call with banks, oth8r short-temi liquid investmen15 with orfginal maturili9s of thra8 months or lèss, and bank overilrafts. Bank ovgrdr8fts ara shown within borrowings in current liabilities. 11
LEA ROWING CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE 15 MONTHS ENDED 30 SEPTEMBER 2023 Accountlng pollclg8 (Continued) 1.12 Flnanclal Instrument8 The charity has elected lo apply the provisions of Section 11 'Basic Financial Instrumenls, and Sedion 12 'other Financlal Instrum8nts Issues, of FRS 102 to all of its financlal Instruments. Financial Inslnjments are recognised in the charitWs balance sheet when the ch8rfty becomes party lo th¢ contractual provisions of the instrument. Financial assats and liabilities aro offset, with the net amounts prasent8d in the financial ststements. wh9n there is alggally enforcea right to sel off the recognisgd arnounts and there is an intenfjon to setile on a n81 basis or to realise the 8$¥et and 98tUe the liabillty simullangously. Baslc flnan¢lal 8ssots Basic financial 8ssels, which indude debtors and cash and bank balanc88, are initially measured 8t transaction pric6 including transaction Costs and are subsequenly Carrièd at amortised cost uslng Ihe effoctive Interest method unles$ the arrangement constitutes B flnancing Ir8nsaction, where the Ir8nsaction 18 measured at the presenl valuè of the future recelpls dlscounl8d al a market rale ol Inlerèsl. Flnanclal assets dassifled 85 receivoble within one year ore not omort188d. B•slc flnanclèl Ilablllths B881¢ financial liabililies, induding CT&ditors and bank108n8 are inrtially rècognised at Iransaction price unl8ss the Brrangemant conslltul88 a flnanclng transaction, wh8r8 the debt Inslrumant Is m8asur&d at the presenl v8luo of the future payments discounted at a m8rk8t rate of Inl8r8St. Financial liabllilies classified as payable wllhln on8 year are not 8mortls8d. Debt Inslrumonls ar8 8ub60qu8nly carrled al amortlsad cost, uslng Ihg 8ff8ctlvg Inleresl rat8 m91hod. Trade cr8dSlor8 ar8 obllgalion5 to pay for good5 or 89rvlce8 that have begn acqulred In Ihg ordlnary cours8 of operations from suppliers. Amounts payable are dassified as current liabilits'es if paym8nt is due wllhin on9 year or less. If not, they are pres9nted as non-currenl liabilitie8. Tradg credi1gr8 are rocognis8d initially at transactlon prfce and sub$equ¥n¥y measured at amort158d cost U81ng the effectlve Inlgrest molhod. D•rgcognttlon of flnanclal Illbllltl Financial liabllllSes are deTeGognised when the charity's contr8clual obligations expire or are discharoed or cancelled. 1.13 Employee benefits The cost of 8ny unused hollday entltlemènt Is recognlsed in the perK)d in whith the employee's sorvices are received. Termlnalion benefits are recognised immed18tely as 8n expenso the the charity is demonstrably commStted lo tem)Inate the employinent ol an employee or to prowde 19rminatn benefits. Critical accountlng estlmates and judg•mont8 In the appllcation of the charity's accounting policies, tho Iruslees are required lo make judgements, eslimales and assumptions about the carrying omount of assets and liabilitie5 that are not readily opparent from other sources. The eslimales and associated assumptions arg based on historical experience 8nd olher factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and undÈrfying assumptions are rewewed on an ongoing basis. Revision8 to accounting estimates are recognised in the period in which the ests'm8le is revised where the revision affects only th8t period, OT in the period of the revision and fvture periods where the revision affects iK)Ih current and future periods. 12-
LEA ROWING CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FQR THE 15 MONTHS ENDED 30 SEPTEMBER 2023 Income from donatlons and legacla8 Vnrèstrlctad Rastricted fund$ funds 2023 2023 Total Unrsstrlcted R¢strl¢tod funds funds 2022 2022 Total 2023 2022 Donatlons and gtRs Grants r8coivabl 89,776 12,730 27,400 102,506 27,4UO 13,562 12.370 26,435 15,192 39,997 27,562 89,776 40,130 129,906 25,932 41.627 67,SS9 In¢om• from charltsbl• actlvltl•• Unr•¥trlctsd Unro$trlct•d funds fund$ 2023 2022 Sal8 of goods 239,532 177,591 In¢ome from oth•r tradlng actlvltlos Unre8trlctsd Unrostrlctsd fund8 fvnd$ 2023 2022 Trading activity income.. oth•r 87,484 Income from Invo•tm•nts Unr•strictod Unrostricted funds funds 2023 2022 Rental income Inlprest receivable 99,223 655 76.083 11 99,878 78,094 13-
LEA ROWING CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE 15 MONTHS ENDED 30 SEPTEMBER 2023 othèr Income Unrestrlctsd Unrostrlctad funds funds 2023 2022 Other Income 63,455 59,671 Charltablo actlvltl Charltablo Charltablo Expondilure Exp6ndSlur• 2023 2022 Stsff costs Depr8cialion and Impalmienl Coachlng costs Rent and rates 90,766 79.818 46,862 14,420 19,739 20,627 55,328 34,950 7,708 13,280 9.532 83,131 84.418 19.182 7,503 7,145 23,333 51.111 21,s82 12,297 12,934 9.228 3,513 1,232 28,258 46,538 616 Insurance Other rowing axpenditure Boat repairs and sp8re8 Irrecover8ble VAT Office costs and sundry Motor gxpenses Travd and subsistence Customer enterlaining Premises costs Bar and Club expenses Adv8rtlsing Other charltsble 8xpgndllur8 2,375 21,014 9,285 4,908 11 3,714 2,627 439.370 414,648 Share of support costs Ilèg818nd professional costs) 47,66D 35,228 487,030 449,876 Analy$ls by fund Uni&stricted funds Restricted funds 460.498 26,532 400,517 49,359 487.Q30 449,878 14-
LEA ROWING CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE 15 MONTHS ENDED 30 SEPTEMBER 2023 Tru8tse$ During the year the chority mad8 the followlng transactions with trustees.. Rich8rd Ellis £892 12Q22 £1221 of rjub expenses were re1mbUrs to Richard Ellls durlng the y&8r and r8mun8ratlon of £6.25512022 £nil) was recelvèd durlng th8 year. None of this remuneration and expensas were received in relalh)n to the role as Twste8. Mark Cushway £97212022 £74} of club expense8 werg roimburs9d lo Mark Cu8hway during the year. Non6 of this remuneration and gxpgnsg$ were receivad in ralaln lo the role as Truste8. Dave Porter £5,060 {2022 £9451 of dub 8Kpens8s weie reimbursed to Dave Porter durfng the year and romuneration of £3,$1012022 £nil) w8s received during the year. None of this r8muner8tlon and expenses were recelved In relation to the role as Tru$lo8. Fred Shearer £3912022 £nll) of dub èxwns88 were r&imbursed to Dav& Porter during the year. None of Ihls rèmuneratlon 8nd expenses were re1Ve in re181ion lo thg Tole as Trusleg. chaeS B8ry £1312022 £nill of dub expgnses were reimbursed lo Dave Porter during the year. Nong of this romuneratlon and expen888 were receSved In relation lo the rolg a8 Tru818e. l other Truste88 have recefved rernuneralion or rgimbursemont of expenses durfng thg ygar. No trusl88s hav8 r8cèlv8d any other benefits from the ch8rfty durfng the year. 10 Employ6 Th8 8V8r8go monthly number of èmF4oyeas durfng the 15 month8 was.. 2023 Numb•r 2022 NuMr Em0ye&S 15 16 Employmgnt Costs 2023 2022 Wages and salaries 90,766 83,131 There were no employees whose annual remunèration w88 MO than £60.000. R•mun•ratlon of key managomgnt personn•l The remuneration of key management personnel w88 as fdlows.. 15-
LEA ROWING CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE 15 MONTHS ENDED 30 SEPTEMBER 2023 11 Taxatlon The Gharily is exernpl from 18xalion on its activities bec8use all ils income is applied for charitable purposes. 12 Tanglblo flxed 488tts LshOld l•nd and Plant and Flxtllfvs and •oulpment flttln Motor vehicl•• Total Cost At 1 July 2022 Additions Dlsposals 1.015,208 620,349 14,390 14,6331 47,18e 23.368 1,706,111 14.390 14,6331 At 30 September 2023 1,015,208 630,106 47,186 23,368 1,715.868 DopreGlatlon and Impalrnwnt At 1 July 2022 DepClOtiOn charged in the 15 months 120,849 25,408 515,625 46,436 38,584 2,688 23,3e8 698,426 74,532 AI 30 September 2023 146,257 562.L%1 41,272 23,368 772,958 Carrylng amount At 30 September 2023 8e8,951 68,045 5.914 942,910 AI 30 Junè 2022 894.359 104,724 8,602 1,007.685 13 Invastm•nl proporty 2023 Falr vglue Al 1 July 2022 D8prèciation 194,536 113,7441 AI 30 September 2023 180,792 On transilion to FRS 102 the market V8lue has been shown as deemed cost. The valuation al the end of the period is not considered to bg maleridly differenL Thgre has be6n no valu8tion of investment propety by an indepgndenl valu9r. 16-
LEA ROWING CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE 15 MONTHS ENDED 30 SEPTEMBER 2023 14 Flx¢d a•set Investments Oth•r Investment Cost or valuation Al 1 July 2022 & 30 September 2023 Carrying amount AI 30 September 2023 At 30 June 2022 2023 2022 Oth6r Invoslm8nts eompllse.. Notes Invèstments In 8ubsld18rf88 21 17-
LEA ROWING CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE 15 MONTHS ENDED 30 SEPTEMBER 2023 15 Dobtors 2023 2022 Amounts falllng due wlthln one year: Tr&de d8blors AmDunls owed by 88s0clate undertaklngs Other debloTS Pr8paym8nts and accnjed income 4.737 32,675 290 8,424 8,351 221 24,993 46.126 33,565 16 Crodltors: amounts falllng du• wlthln on• y•ar 2023 2022 Other tsxatlon and SQGial securfty Trade credltors Amounts owed to as80alate undertakings Other credltors Accruals and defeffed Sncome 3.276 15,779 4,626 10,816 20,021 6,110 46,421 2,486 41,362 62,903 87,994 17 Credltorj., amount• lalllng due after moro than one y•ar 2023 2022 Bonds 130,000 130,000 18 R98trlcted fund* The restricted funds of the charity comprise the iJnexpend8d balances of donations and grants held on trust subject to spacifie condltions by donor9 as to how th8y may be us8d. At l July 2022 Incomlng RourceS At30 resourcos expended Sèptember 2023 789,591 40.130 126,532} 803,189 Provlouy yèar: At 1 July 2021 Incoming resourG•s Rèsources expended At 30 Juno 2022 797,323 41,627 149,359} 789,591 18-
LEA ROWING CLUB LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE 15 MONTHS ENDED 30 SEPTEMBER 2023 19 UnraStrIct funds The unreslricled funds of the charity cornprise Ihe unexpended balances of donations 8nd grBnts whlch are not subject lo specific conditions by donors and grantors as to how they may be used. These indude designated ftjnds which have been sat aside out of unrestricted funds by the trustee8 for spwfic pury¥)ses. Incomlng Resourcts At30 re8ourc•• expondod September 2023 At l July 2022 Gener81 fund8 344,029 492.641 (460.4981 376,172 Prnvlous y•ar: At 1 July 2021 Incomlng re8our¢e8 Ro8ourct$ •xp•nd•d At 30 Juno 2022 Gen8r8J funds 317,774 426.772 1400,517} 344,029 20 R•ltod party tran•a¢tlons Thero were no disclosable related parly Iransgctions during Ihg 15 monlh812022- none). 21 Sub51dSarl•• These finoneial statem9nts ar8 separate charty fingndal ststsmgnts for Le8 Rowlng Club Limited. Detsil$ of the charills subsidiar8 8130 S8Ptèmb8r 2023 are os follows- Name ol und•rtaklng R•g18t•r•d offlco Natur• of I1n••I la#s of 8har•g h•ld % H•ld Dlr•et Indlr•ct Le8 Rowing Club Construction Llmlled Laa Evanls Umllad UK Domant Ordlnary 100.00 UK Publlc House and Bar Ordlngry 100.00 19-