| Contents | |||
|---|---|---|---|
| Reference | and Administrative Details ofthe Charity, its Trustees and Advisers |
||
| Chairman's | Statement | 4-8 | |
| Trustees' | Report | 9-13 | |
| Independent Examiners Report to the trustees of Fulham |
Reach Boat Club | 14-15 | |
| Statement | of Financial Activities | 16-18 | |
| Statement | ofCash Flows | 19 | |
| Notes to the Financial Statements | 20-37 |
| Trustees | David FitzHerbert (Chairman) |
David FitzHerbert (Chairman) |
|||||||
|---|---|---|---|---|---|---|---|---|---|
| Mark Elgar | |||||||||
| Dame Laura Elizabeth | Lee | ||||||||
| James Barlow | |||||||||
| Rachael Henshilwood | |||||||||
| Charles Pretzlik |
|||||||||
| Michelle Jayne Dite | (appointed | 1November | 2021) | ||||||
| Dame Sally Coates | (appointed | 14 March 2022) | |||||||
| Company | registered | number | 08900584 | ||||||
| Charity registered | number | 1161813 | |||||||
| Registered oNce | Fulham Reach Boat Club |
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| Unit A | |||||||||
| Distillery Wharf | |||||||||
| Chancellors Road |
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| London | |||||||||
| W6 9GX | |||||||||
| Company | secretary | Justyna Nascimento |
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| Contact details: | |||||||||
| info fulhamreachboatclub. |
com | ||||||||
| 02033567130 | |||||||||
| Website address | www. fulhamreachboatclub. | com | |||||||
| Independent | examiner | Michaelides Warner |
|||||||
| Accounts and Business Advisors | |||||||||
| 102 Fulham Palace Road |
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| Hammersmith | |||||||||
| London | |||||||||
| W6 9PL | |||||||||
| Banker | Barclays Bank PLC | ||||||||
| Wandsworth 2 |
|||||||||
| Leicestershire | |||||||||
| LE87 2BB |
| Notes | Restricted | Unrestricted | 31.08.2022 | 31.08.2021 | |
|---|---|---|---|---|---|
| f | f | TOTAL f |
TOTAL f |
||
| Income From: | |||||
| Donations and Legacies |
75,000 | 268,954 | 343p954 | 310,027 | |
| Charitable Activities Other Trading Activities Investments Other S106Funding |
4,1 4.2 4.3 |
422,631 19p630 6 7,274 |
422,631 19,630 6 7,274 |
344,707 21,802 2 119,677 1,293,000 |
|
| Total Income | 75,000 | 718,495 | 793p495 | 2,089,215 | |
| Raising Funds Charitable Activities |
75,000 | 17,920 761,307 |
17,920 836,307 |
13,138 724,561 |
|
| Total Expenditure | 75,000 | 779,228 | 854,227 | 737,699 | |
| Net Movement in funds |
(60,733) | (60,733) | 1,351,516 | ||
| Reconciliation offunds: |
|||||
| TOTAL FUNDS, Brought forward Net Movement in funds |
14 | 1p293p000 | 619p680 (60,733) |
1,912,680 (60,733) |
561,164 1,351,516 |
| TOTAL FUNDS, Carried forward | 14 | 1,293,000 | 558,947 | 1,851,947 | 1,912,680 |
| STATEMENT OF CASH FLOWS | ||||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Notes | ||||
| Cash flows from operating activities |
||||
| Net cash provided by operating activities |
17 | (24,813) | 1,384,056 | |
| Cash flows from investing activities |
||||
| Dividends, interests, and rents from investments |
||||
| Proceeds from the sale oftangible fixed assets |
12,250 | 28,000 | ||
| Purchase oftangible fixed assets |
(55,674) | (11,520) | ||
| Net cash generated/ (used in) by investing |
activities | (43,418) | 16,482 | |
| Change in cash and cash equivalents in the |
year | (68p231) | 1,400,538 | |
| Cash and cash equivalents at the beginning |
ofthe year | 1,842,634 | 442,096 | |
| Cash and cash equivalents at the end of the year |
18 | 1,774,402 | 1,842,634 |
| Restricted | Unrestricted | Total | Total | ||||||
|---|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | ||||||
| 2022 | 2022 | 2022 | 2021 | ||||||
| EBM | 30,000 | 30,000 | 15,000 | ||||||
| Armitage | Charitable | Foundation | 15,000 | 15,000 | |||||
| James Astor Charitable | Trust | 10,000 | 10,000 | ||||||
| Jasmine | Calvert-Ansari | 24,000 | 24,000 | ||||||
| John Lyons Charity | 35,000 | 35,000 | |||||||
| John McAvoy Foundation | 25,000 | 25,000 | |||||||
| LBHF | 41,428 | ||||||||
| National | Lottery Community | Fund | 75,000 | 75,000 | 170,000 | ||||
| Other | 74,494 | 74,494 | 73,599 | ||||||
| Boats not Bars | 10,460 | 10p460 | |||||||
| Peter Harrison | Foundation | 25F000 | 25,000 | ||||||
| Sear | 10,000 | 10,000 | 10,000 | ||||||
| Witheren | Trust | - Donations | 10,000 | 10,000 | |||||
| Total | 75,000 | 268,954 | 343p954 | 310,027 |
| 4.1 | Income | from Charitable | from Charitable | Activities | Activities | ||||
|---|---|---|---|---|---|---|---|---|---|
| Restricted | Unrestricted | Total | Total | ||||||
| funds | funds | funds | funds | ||||||
| 2022 | 2022 | 2022 | 2021 | ||||||
| f | f | f | f | ||||||
| Memberships | and members' | events | 178,840 | 178,840 | 156,749 | ||||
| Public tuition | 142,871 | 142,871 | 139,073 | ||||||
| School | tuition | 97,595 | 97,595 | 47,840 | |||||
| Miscellaneous | 3,325 | 3,325 | 1,045 | ||||||
| 422,631 | 422,631 | 344,707 | |||||||
| 4.2 | Income from | Other Trading | Activities | ||||||
| Restricted | Unrestricted | Total | Total | ||||||
| funds | funds | funds | funds | ||||||
| 2022 | 2022 | 2022 | 2021 | ||||||
| f | f | f | f | ||||||
| Sale ofasset | 12,250 | 12,250 | 21,802 | ||||||
| Coaching | 7,380 | 7,380 | |||||||
| Total | 19,630 | 19p630 | 21,802 | ||||||
| 4.3 | Other | Income | |||||||
| Restricted | Unrestricted | Total | Total | ||||||
| funds | funds | funds | funds | ||||||
| 2022 | 2022 | 2022 | 2021 | ||||||
| f | f | f | f | ||||||
| HMRC | Furlough | 7,274 | 7p274 | 119,677 | |||||
| Total | 7,274 | 7,274 | 119,677 |
| 5 | Expenditure | |||||||
|---|---|---|---|---|---|---|---|---|
| Direct Costs | Support Costs | Total Costs | Total Costs | |||||
| 2022 | 2022 | 2022 | 2021 | |||||
| f | f | f | f | |||||
| Raising Funds | 1,750 | 16,170 | 17,920 | 13,138 | ||||
| Charitable | Activities | 761,304 | 75,003 | 836,307 | 724,561 | |||
| Total | 763,054 | 91,173 | 854,227 | 737,699 | ||||
| Total Expenditure | for the year ended 2022 was f854,227 | ofwhich f779,227 | was unrestricted | and f75,000 | ||||
| was restricted. | ||||||||
| Analysis of Direct | costs | Restricted | Unrestricted | Total | Total | |||
| funds | funds | funds | funds | |||||
| 2022 f |
2022 f |
2022 | 2021 f |
|||||
| Staff costs | 535,232 | 535,232 | 477,866 | |||||
| Depreciation | 87,111 | 87,111 | 60,608 | |||||
| Regatta and rowing costs | 44,314 | 44,314 | 21,593 | |||||
| Occupancy | expenses | 94,647 | 94,647 | 125,383 | ||||
| Website | 1,750 | 1,750 | 1,680 | |||||
| Total | 763,054 | 763,054 | 687,130 |
| Analysis ofSupport costs | Analysis ofSupport costs | ||||
|---|---|---|---|---|---|
| Restricted | Unrestricted | Total | Total | ||
| funds | funds | funds | funds | ||
| 2022 | 2022 | 2022 | 2021 | ||
| f | f | f | f | ||
| Marketing | 12,026 | 12,026 | 1,284 | ||
| Accountancy | 6,217 | 6,217 | 6,990 | ||
| Professional | fees | 27p920 | 27,920 | 17,769 | |
| Communications | 15,624 | 15,624 | 11,386 | ||
| Other | 26,602 | 26,602 | 8,112 | ||
| Depreciation | 370 | ||||
| Amortisation | 2,784 | 2,784 | 4,658 | ||
| Total | 91,173 | 91,173 | 50,569 |
| Unrestricted | Total | |||
|---|---|---|---|---|
| funds | funds | |||
| 2022 | 2021 | |||
| f | ||||
| Operating lease rentals - Property |
51'134 | 39,359 | ||
| Independent | examiner's | fee | 3,000 | 6,900 |
| Amortisation | 2,784 | 4,658 | ||
| Depreciation | 85,186 | 60,978 |
| 7. | Staff Costs | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Total | ||||||
| funds | funds | ||||||
| 2022 | 2021 | ||||||
| f | f | ||||||
| Wages and | sa laries | 484,266 | 406,091 | ||||
| Social security costs | 27,402 | 38,348 | |||||
| Employer's | Pension | 23,563 | 33,427 | ||||
| Total | 535,232 | 477,866 | |||||
| The average | number of persons employed | by the charity during | the year | was as follows: | |||
| 2022 | 2021 | ||||||
| No. | No. | ||||||
| Members ofstaff | 28 | 24 | |||||
| The number | ofemployees | whose employee | benefits (excluding | employer | pension costs) exceeded | ||
| f60,000was | |||||||
| 2022 | 2021 | ||||||
| No. | No. | ||||||
| In the band | f60,000 - E70,000 |
| 10. | Intangible assets |
|
|---|---|---|
| Computer | ||
| Software | ||
| f | ||
| Cost | ||
| At 1September 2021 | 23,290 | |
| At 31August 2022 | 23,290 | |
| Amortisation | ||
| At 1September 2021 | 20,506 | |
| Charge for the year | 2,784 | |
| At 31August 2022 | 23,290 | |
| Net book Value | ||
| At 31August 2022 | ||
| At 31August 2021 | 2,784 |
| 11, | Tangible Fixed assets |
|||||
|---|---|---|---|---|---|---|
| Long-term | Fixtures | |||||
| leasehold | and | Computer | Boat | |||
| property f |
Fittings f |
Equipment f |
Equipment f |
Total f |
||
| Cost | ||||||
| At 1September 2021 | 184504 | 22024 | 419,054 | 439,582 | ||
| Additions | 7,508 | 7,020 | 41,145 | 55,674 | ||
| Disposa Is | (34,267) | (34,267) | ||||
| At 31August 2022 | 26,012 | 24024 | 7,020 | 425,932 | 460,989 | |
| Depreciation | ||||||
| At 1September 2021 | 1,956 | 2,024 | 277,767 | 281,747 | ||
| Charge for the year On disposals |
520 | 1,404 | 85,186 (34,267) |
87,111 (34,267) |
||
| At 31August 2022 | 2,476 | 2,024 | 1,404 | 328,686 | 334,591 | |
| Net book Value | ||||||
| At 31August 2022 | 23,536 | 5,616 | 97,246 | 126,996 | ||
| At 31August 2021 | 16,548 | 141,287 | 157,835 |
| 12. | Debtors: Due within one year | Debtors: Due within one year | Debtors: Due within one year | ||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| f | f | ||||
| Trade debtors | 4,984 | 8,899 | |||
| P repayments | 791 | 1,184 | |||
| 5,774 | 10,083 | ||||
| 13. | Creditors: Amounts | falling due within one year | |||
| 2022 | 2021 | ||||
| f | |||||
| Trade Creditors | 705 | ||||
| Other taxation | and | social security | 635 | 8,117 | |
| Other Creditors | 8,381 | 36,451 | |||
| Accruals | 45,612 | 55,383 | |||
| 54'628 | 100,656 |
| Statement offunds | ||||||
|---|---|---|---|---|---|---|
| Balance | ||||||
| Balance at | Transfers | at 31-Aug | ||||
| 1-Sep2021 f |
Income | Expenditure f |
in/(out) f |
2022 f |
||
| Unrestricted funds |
||||||
| Designated funds |
||||||
| Asset replacement | 302,253 | (41,145) | 261,108 | |||
| Operating Costs |
200,000 | 200,000 | ||||
| 502,253 | (41p145) | 461,108 | ||||
| General funds | 117,427 | 718,495 | (779,228) | 41,145 | 97,840 | |
| Tota I Unrestricted | funds | 619,680 | 718,495 | (779,228) | 558p947 | |
| Restricted funds | ||||||
| Schools Rowing Programme |
75,000 | (75,000) | ||||
| StGeorge -Section funding |
106 | 1,293,000 | 1,293,000 | |||
| Total Restricted funds | 1,293,000 | 75,000 | (75,000) | 1,293,000 | ||
| Total offunds | I I 1912680 |
793,495 |
| 15. | Analysis ofnet | Analysis ofnet | Analysis ofnet | assets between | assets between | funds | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Year | ||||||||||||
| Restricted | Unrestricted | Total | ||||||||||
| Funds | funds | funds | ||||||||||
| 2022 | 2022 | 2022 | ||||||||||
| f | f | |||||||||||
| Tangible | Fixed assets | 126,398 | 126,398 | |||||||||
| Intangible | fixed | assets | ||||||||||
| Current assets | 1,292,460 | 487,716 | 1,780,176 | |||||||||
| Creditors | due within one | year | (54,628) | (54,628) | ||||||||
| Total | 1,292,460 | 559487 | 1p851p947 | |||||||||
| Prior Year | ||||||||||||
| Restricted | Unrestricted | Total | ||||||||||
| Funds | Funds | Funds | ||||||||||
| 2021 | 2021 | 2021 | ||||||||||
| f | f | f | ||||||||||
| Tangible | Fixed | assets | 157,835 | 157,835 | ||||||||
| Intangible | fixed assets | 2,784 | 2,784 | |||||||||
| Current | assets | 1,293,000 | 559,717 | 1,852,717 | ||||||||
| Creditors | due | within one year | (100,656) | (100,656) | ||||||||
| Total | 1,293,000 | 619,680 | 1,912,680 | |||||||||
| Included within current f302,253) and operating |
assets costs |
are designated cash balances for Boat replacement off261,108 f200,000 (2021-f200,000).Refer to note 14for details ofthese |
(2021- | |||||||||
| designated funds. |
| 16. | Reconciliation ofnet |
movement | movement | movement | in funds to net cash flow from | ||||
|---|---|---|---|---|---|---|---|---|---|
| operating activities |
|||||||||
| 2022 | 2021 | ||||||||
| f | f | ||||||||
| Net Income/(expenditure) | for the | year | |||||||
| (as per Statement of | Financial Activities) | (60,733) | 1,351,516 | ||||||
| Adjustments for: |
|||||||||
| Depreciation charges |
87,111 | 60,978 | |||||||
| Amortisation charges |
2p784 | 4,658 | |||||||
| Interest Income | (6) | (&) | |||||||
| Profit on sale offixed | assets | (12,250) | (21,802) | ||||||
| Decrease in debtors |
4,309 | 1,006 | |||||||
| Increase/(decrease) | in | creditors | (46,028) | (12,298) | |||||
| Net cash provided by |
operating | activities | (24,813) | 1,384,056 | |||||
| 17. | Analysis ofcash and | cash | equivalents | ||||||
| 2022 | 2021 | ||||||||
| f | f | ||||||||
| Current accounts | 1,389,956 | 1,413,777 | |||||||
| Reserve account | 384,446 | 428,857 | |||||||
| Total cash and cash | equivalents | 1,774,402 | 1,842,634 |
| 2022 | 2021 | ||
|---|---|---|---|
| E | |||
| Not later | than 1year | 51p132 | 51,136 |
| Later than | 1year and not later | ||
| than 5 years | 204,528 | 187,496 | |
| Laterthan | 5 years | 2,215,720 | 1,619,256 |
| 2,471,380 | 1,857,888 |