OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-08-31-accounts

Registered Charity No: 1161813 Registered Company number: 08900584

Fulham Reach Boat Club Annual Report & Accounts 2024/25

Sport For Good — Changing lives on the Thames

Audited Trustees’ Report and Financial Statements For the Year Ended 31 August 2025

Fulham Reach Boat Club — Annual Report & Accounts 2024/25

Contents

Reference and Administrative Details 3
Chair’s Statement 4
Chief Executive’s Report 5
Trustees’ Report 8
Financial Review 11
Independent Auditor’s Report 14
Statement of Financial Activities 17
Statement of Financial Position 18
Statement of Cash Flows 20
Notes to the Financial Statements 21

Registered Charity No: 1161813 | www.fulhamreachboatclub.com Page 2

Fulham Reach Boat Club — Annual Report & Accounts 2024/25

Reference and Administrative Details

Trustees Delia Parry (appointed 19.01.2025)
David FitzHerbert (resigned 19.01.2025)
Mark Elgar
Dame Laura Elizabeth Lee (resigned 27.4.2026)
Rachael Henshilwood
Charles Pretzlik
Austen Runnicles (appointed 09.12.2024)
Dame Sally Coates (resigned 19.04.2025)
Jo Blackshaw (appointed 11.11.2025)
Anna Jordan(appointed 11.11.2025)
Bruce Charles Lynn (appointed 15.04.2026)
Company registered 08900584
number
Charity registered number 1161813
Registered office Fulham Reach Boat Club
Unit A, Distillery Wharf
Chancellors Road
London W6 9GX
Company secretary Justyna Nascimento
Contact details info@fulhamreachboatclub.com
020 3356 7130
www.fulhamreachboatclub.com
Auditors LBCo. Ltd
Chartered Accountants and Registered Auditors
16 Northfields Prospect Business Centre
Putney Bridge Road
London SW1 1PE
Banker Barclays Bank PLC - Wandsworth 2 Branch
Leicester LE87 2BB

Registered Charity No: 1161813 | www.fulhamreachboatclub.com Page 3

Fulham Reach Boat Club — Annual Report & Accounts 2024/25

Welcome from the Chair

It is my privilege to present Fulham Reach Boat Club's Annual Report for 2024/25 — a year of genuine growth in the scale and ambition of our programmes and the range of communities we serve. We reached close to 2,000 participants across our youth, criminal justice, accessibility and environmental programmes, supported by nearly 500 volunteers whose generosity of time and spirit underpins everything we do.

Our impact research and data demonstrate clearly the power of sport to change lives, increasing confidence, resilience, focus and aspiration. At the core of this is creating agency: supporting our participants to believe that, step by step, they can shape the future they want. The story of Olt - who joined FRBC through a free school bursary, won British Rowing's Young Volunteer of the Year, and was voted FRBC Coach of the Year 2025 at just 18 - captures perfectly what we are building: a genuine pipeline of talent and belonging, from first session to lifelong connection.

Youth development remained our central pillar. We delivered termly rowing programmes for 10 state or academy schools, and free watersports weeks in school holidays that provide a safe space for teenagers from areas ranked among the most deprived in England. Our second Youth Boat Race, on the iconic Boat Race course, saw 64 of our student rowers race in front of their families, supporters and (through BBC coverage reaching 28 million) a global audience. Addressed by Mayor Patricia Quigley and Double Paralympic Champion Erin Kennedy OBE, it was a celebration of what rowing looks like when it truly opens its doors.

Our Boats Not Bars programme, delivered across seven prisons, also reached new levels of impact, achieving a 141% year-on-year increase in sustained engagement after course completion. 41 individuals maintained contact with FRBC after release — through rowing, work placements and housing support. The partnership with HMP Grendon, renowned for its therapeutic culture, reflects the increasingly sophisticated and evidence-based approach our team brings to this sensitive and important work.

Two major breakthroughs particularly defined this past year. Firstly, our move into ‘adaptive’ rowing, making it accessible for those with disabilities. In April 2025 we launched Row the Rhythm, welcoming blind and visually impaired participants, who described it as a ‘life-changing’ 10 week experience. Following this successful pilot, adaptive rowing has now become a core growth area for us, with future, year-round delivery secured thanks to a generous three-year National Lottery Community Fund grant for 2026-28.

Secondly, this year saw a step-change in our financial health, driven by outstanding fundraising efforts, enhanced financial disciplines and a revitalised adult and junior paying membership community, who in turn support our charitable programmes as volunteers. This powerful flywheel underpins our current and future success and impact as a community-based charity. We achieved a record level of income, at £1,261,578, and our highest ever surplus of £294,646, taking our Reserves to a healthy level of £1,919,902 to support the ongoing sustainability of our operations.

FRBC’s unique ‘sport for good’ model - helping tackle social inequalities while caring for the Thames environment - has become a Sport England case study. My deep gratitude goes to our staff, coaches, volunteers, funders, and supporters — and to our CEO and leadership team for the clarity, ambition, and care with which they guide this organisation. The river has always been a place of possibility. With your continued support, we will keep proving that it belongs to everyone.

Chair of Trustees

Registered Charity No: 1161813 | www.fulhamreachboatclub.com Page 4

Fulham Reach Boat Club — Annual Report & Accounts 2024/25

Chief Executive’s Report

2024/25 has been an exceptional year for Fulham Reach Boat Club. Our work has been recognised nationally and internationally, affirming both the strength of our model and the dedication of our staff, coaches, volunteers, trustees and partners.

Awards & Recognition

These accolades reflect not only organisational excellence but the lived experiences of nearly 2,000 Londoners whose lives have been positively shaped through rowing at FRBC.

Our Impact in Numbers

~2,000

participants across all programmes

826

students from 10 state schools

184

Boats Not Bars participants across 7 prisons

400+

volunteers in environmental programme

This year we were proud to launch our 2024/25 Community Impact Report and Video, introducing an updated, evidence-based surveying approach shaped by Sport England guidance and expanded to measure adaptive rowing and environmental action. While we often speak about the power of sport, its true impact is best expressed through the voices of our participants, many of whom feature in our latest impact film. Across the year, FRBC continued to demonstrate how sport can drive meaningful social change by improving health, strengthening inclusion and promoting environmental stewardship.

Participation remained strong across our four impact pillars: youth development, reducing reoffending (Boats Not Bars), accessible rowing and environmental action. Nearly 2,000 people engaged with our programmes. Under our “inch-wide, mile-deep” philosophy, we focus on delivering deep, high-quality interventions for specific communities while sharing learning openly to enable replication and scale.

Registered Charity No: 1161813 | www.fulhamreachboatclub.com Page 5

Fulham Reach Boat Club — Annual Report & Accounts 2024/25

Youth Development

Youth Development remains at the heart of our work. During the year, 826 students from 10 state schools took part in nearly 600 rowing sessions. Eighty-five young people joined our Free Watersport Weeks, representing a 20% increase in participation; 80% were from ethnically diverse backgrounds and 16% had special educational needs. Across all FRBC youth programmes, 40% more participants now meet physical activity guidelines, 89% report improved teamwork skills and 85% report improved mental wellbeing.

The second Youth Boat Race brought together 64 students from 10 state schools to compete on the iconic Championship Course, reaching a television audience of 28 million. The event continues to challenge perceptions of who belongs in rowing.

Boats Not Bars

Our Boats Not Bars programme supported 184 participants during the year and extended our social impact into post release and probation settings. Over 90% reported improved wellbeing and confidence, and sustained post-release contact more than doubled. By combining sport, mentoring and employment pathways, the programme reduces stigma and creates meaningful bridges from prison to community, demonstrating that rowing can be a vehicle for dignity, belonging and second chances.

Accessible Rowing — Row the Rhythm

In 2024/25, we launched our first dedicated accessible rowing initiative, Row the Rhythm, opening the sport to blind, visually impaired and disabled participants. Delivered in partnership with VICTA, Love Rowing and Action on Disability, the programme marked a significant step toward year-round accessible rowing at FRBC. Every participant reported improved quality of life, 100% reported improved physical health and social connection, and 86% expressed a desire to continue rowing. One visually impaired participant reflected that rowing at FRBC had become one of the most empowering experiences of their life, highlighting the importance of expectation, belonging and opportunity.

Environmental Action

Environmental stewardship remains integral to our mission. Over 400 volunteers participated in river clean-ups and environmental initiatives, removing more than one tonne of rubbish from the Thames and conducting 43 water-quality tests. We also launched our first electric coaching-boat charging station open for river community use, investing in sustainable infrastructure for the future. We are making steps towards reducing our carbon emissions and to support this a research project with BASIS and Loughborough University calculated our scope 1,2, and 3 equated to 13,260 kg CO2e for the previous financial year of 2023/24. This amount of CO2e is approximately equivalent to 3 petrol cars driven for a year. FRBC was featured by Sport England as a model case study of climate leadership, this work reflects our belief that caring for the river is inseparable from caring for our community.

Registered Charity No: 1161813 | www.fulhamreachboatclub.com Page 6

Fulham Reach Boat Club — Annual Report & Accounts 2024/25

Culture & Governance

Leadership, culture and governance continue to underpin our impact. FRBC employs and supports more women coaches than men, challenging sector norms and aligning workforce representation with our inclusion values. FRBC was recognised in the Top 100 Great Place to Work for Women, Wellbeing and the Third Sector, demonstrating that inclusive culture drives external equity.

Safeguarding remains paramount. Through engagement with London Sport Safeguarding support and the UNICEF Pioneers Programme for Safer Sport Cultures, FRBC has both contributed to and benefited from international learning on safeguarding systems and safe sport leadership.

Financial sustainability is a continued focus and we are proud of another solid year of financial performance. Our resource allocation remains strategically focused on our four impact pillars. We continue to provide subsidised programmes, free holiday activities, accessible equipment and sustainable infrastructure to ensure financial or structural barriers do not determine opportunity. Across all programmes, participants report increased physical activity, improved teamwork, greater confidence and a stronger connection to nature.

My sincere thanks go to our staff team coaches, participants, members volunteers, trustees, partners and funders whose commitment makes this work possible. Together, we are not only transforming rowing in London, but contributing to a blueprint for equality, inclusion and safe sport globally.

Adam Freeman-Pask

Chief Executive Officer

Registered Charity No: 1161813 | www.fulhamreachboatclub.com Page 7

Fulham Reach Boat Club — Annual Report & Accounts 2024/25

Trustees’ Report

The Trustees, who are also directors for the purposes of the Company Law, present their report with the financial statements of the charity for the year ended 31 August 2025.

The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the Charities Act 2011, the Companies Act 2006, the requirements of the company’s governing document and the provisions of the Statement of Recommended Practice (SORP, 2nd edition), applicable to charities preparing their accounts with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Introduction

Fulham Reach Boat Club aims to be a Centre of Excellence for Sport for Good, using rowing as a transformative tool for positive change. We promote physical and mental wellbeing, personal growth and social inclusion, especially for underserved communities.

Our work focuses on three core impact areas:

Across these programmes we embed positive environmental stewardship and advocate for protecting the river through community-led river clean-ups and water quality testing.

Public Benefit Disclosure

We refer to the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.

The objectives of the charity are for the benefit of the public generally and the inhabitants of its surrounding area:

And such charitable purposes for the public benefit as are exclusively charitable according to the laws of England and Wales as the Trustees may from time to determine.

Registered Charity No: 1161813 | www.fulhamreachboatclub.com Page 8

Fulham Reach Boat Club — Annual Report & Accounts 2024/25

Key Objectives

The Trustees have developed five key objectives against which programmes are designed and delivered.

Structure, Governance and Management

The organisation is a charitable company limited by guarantee and was established in February 2014. The company was established under its Articles of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £1. Charitable status was granted by the Charity’s Commission in May 2015.

The directors of the company are also charity Trustees for the purposes of Charity law. Under the requirements of the Articles of Association, Trustees must retire every two years after which if they offer themselves for re-election they must be re-elected at the next meeting of the Trustees. Trustees retire in the order in which they were elected or by mutual agreement. All Trustees give their time voluntary and have received no benefits or expenses from the charity. A new Trustee may be appointed by ordinary resolution at a general meeting or by other directors at a meeting of the directors. New Trustees are considered on the recommendation of the Board of Trustees.

In January 2025 the Trustees reappointed Mark Elgar as Trustee for a final two-year term. Mr Elgar was first appointed as a Trustee in April 2014 and so has been a Trustee for 12 years. While the Charity’s Articles of Association do not state a limit to the number of terms a Trustee may serve, good governance usually requires a maximum 10-year term unless there are extenuating circumstances. In this instance, the Trustees voted to reappoint Mr Elgar for one final term due to his critical role as Treasurer for the Charity and the need for continuity in the process of handover from the prior Chair (David Fitzherbert) to the new Chair (Delia Parry) and handover to a new Treasurer for the Charity, which will complete during calendar H2 2026.

Directors’ Responsibilities

Registered Charity No: 1161813 | www.fulhamreachboatclub.com Page 9

Fulham Reach Boat Club — Annual Report & Accounts 2024/25

Sub-Committees of the Board

There are currently four active subcommittees: Finance; Nominations; Audit & Risk; Fundraising & Marketing; and Remuneration. These subcommittees carry out focused duties between board meetings and report back to the Board of Trustees.

Role of Chair and Chief Executive

The Chair is responsible for the leadership, operation and governance of the Board of Trustees and ensuring it operates effectively. The Chief Executive is appointed by the Board to manage the dayto-day operations of the charity and the implementation of the strategic plan and policies as agreed and set by the Board.

Organisational Structure

The day-to-day operations of the charity are managed by the Chief Executive, a full-time member of staff who reports to the Trustees at quarterly meetings and as necessary at other times. The Trustees retain all decision-making powers and delegate specific roles and responsibilities to the Chief Executive as detailed in the minutes of quarterly meeting of Trustees.

Risk Management

The directors review the major risks to which the charity is exposed through a risk register which has been established and is updated at least quarterly. A formal risk management strategy has been established to ensure appropriate systems and procedures are in place to mitigate risks the charity faces. The Trustees consider the main risks to be accidents and injuries to members, students and staff while using the boats and facilities of the Charity. In order to mitigate this risk, the Club adopts the British Rowing RowSafe guidelines and the Port of London’s Tideway Code, and all members and staff are required to be familiar with these guidelines in addition to FRBC’s own Safety Plan. To further enhance safety for new participants, we also introduced an airline style safety video to ensure all critical safety information is communicated.

Registered Charity No: 1161813 | www.fulhamreachboatclub.com Page 10

Fulham Reach Boat Club — Annual Report & Accounts 2024/25

Financial Review

Financial Performance 2024/25

During the year, as per the Statement of Financial Activities, there has been a net surplus in funds in relation to restricted income of £43,385 (2024: deficit of £38,500) and a surplus of £251,261 (2024: surplus of £89,525) in relation to unrestricted funds, giving a total net increase in funds reported for the year of £294,646 (2024: net increase of £51,025).

£1,919,902

Total reserves at year-end (2024: £1,625,256)

£567,351 Unrestricted funds (2024: £316,090)

£1,352,551

Restricted funds (2024: £1,309,166)

Reserves Policy

The level and allocation of reserves is reviewed by the Finance Committee and Trustees each year. The charity aims to hold sufficient reserves to further the objectives of the charity. This includes reviewing future asset replacement and building in some resilience against unforeseen events, which could adversely affect income or increase the cost of the charity.

Operating Cost Reserve (unrestricted)

Targeted to cover six months of operating costs. Based on the total expenditure for 2025 of £1.0m this would have put this target at £0.5m. As at 31 August 2025 we are holding £400,000 in this reserve, representing an increase of £100,000 on the previous year. Although it gives comfort that ongoing operations can continue, this only represents 4.9 months of the 6-month target (2024: £300,000 - 3.8 months).

Asset Replacement Reserve (unrestricted)

This reserve fund is set aside to cover the cost of replacing assets, such as boats, extension of pontoon ramp and club refurbishment where we are unable to secure targeted fundraising, or if there is an uninsured loss. This reserve is held at £69,849 (2024: £16,090).

Registered Charity No: 1161813 | www.fulhamreachboatclub.com Page 11

Fulham Reach Boat Club — Annual Report & Accounts 2024/25

The General Fund (unrestricted)

This fund is set aside for general use and is unrestricted. This fund is held at £97,501 (2024: £Nil).

Capital Grants (restricted)

This fund is held for capital investments. This fund is held at £59,551 (2024: £Nil).

Section 106 and Pontoon Replacement Reserve (restricted)

This reserve is specifically ringfenced under an agreement between St George Central London Limited (“St George” - the developer of the Fulham Reach development) and the Section 106 agreement as part of their planning permission with the London Borough of Hammersmith & Fulham (“LBH&F”).

Funds are specifically reserved and need approval from St George before they can be used. These funds are for the ongoing operations of FRBC at the Fulham Reach development and for use within the LBH&F, for example the purchase of new equipment, running costs of the club or to fund new activities at the site. The main use of this fund is to hold sufficient funds to repair and replace FRBC’s most significant asset, the pontoon at the development, which is used daily for access and egress to the River Thames and is imperative to the future of FRBC.

During the year a separate fund was created out of the S106 Reserve to put a dedicated reserve in place for the replacement of the pontoon. This reserve was based on the updated replacement cost of the Pontoon, provided in October 2024 by the original manufacturer in 2012 (Intermarine). This replacement cost has been index-linked to RPI to assess the value of the reserve at the financial year end.

S106 Reserve breakdown:

➢ S106 Fund £192,000 (£1,293,000 - 2024)
➢ Pontoon replacement £1,101,000 (Nil - 2024)
➢ Total £1,293,000 (£1,293,000 - 2024)

For more detail refer to note 15 of the financial statements (Statement of funds).

On 15 December 2021 the remaining Section 106 funds (£1.293m including indexation) were transferred from St George to FRBC to be held in a designated fund. Any utilisation of the funding requires St George approval and can be used to fund the ongoing operations of the Fulham Reach site and new equipment and activities within the LBH&F.

The availability of these reserves and funding facilities provide assurance to the Trustees of the charity continuing as a going concern.

Registered Charity No: 1161813 | www.fulhamreachboatclub.com Page 12

Fulham Reach Boat Club — Annual Report & Accounts 2024/25

Going Concern

The financial statements have been prepared on a going concern basis, assuming that Fulham Reach Boat Club will continue its operations for the foreseeable future.

Accordingly, the Trustees have concluded that the are no material uncertainties about the club’s ability to continue as a going concern and consider it appropriate to continue to prepare the financial statements on this basis.

Principal Funding Sources

The charity raises funds from voluntary income, fundraising events, the provision of services, and grant aid funding.

Approved by order of the members of the Board of Trustees and signed on their behalf by:

Chair of Trustees

Date: 29 May 2026

Registered Charity No: 1161813 | www.fulhamreachboatclub.com Page 13

INDEPENDENT AUDITORS, REPORT TO THE MEMBERS QF THE FULHAM REACH BOAT CLUB Oplnlon We have audited the accounts of FLtlham Reach Boat Club on pages 17 to 39 for the year ended 31 Augurt 2025 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statcmcnt of C85h Flows and the rclated notes. The financial reporting framework that ha5 been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FR5102 "The Financial Reportiiig Standards applicable in tlie UK and Irpland" 1snRP FRS 1 n?1. In our oplnlon the accounts.. Rive a true and fair view of the state of the charitable company's affairs as at 31 August 2025 and of its incoming resources and application of resources, including its income and expenditure, for the period then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice- and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our 3udit in accordance wiih Iniern31ional srand3rds on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standard5 are further described in the Auditor's responsibilities tor the audit of the accounts section ot our report. We are independent ot the charitable company in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evideiice we h6ve obtained is suff icieiit and appropriate to provide a basis for our opinion. GoinR concern In auditing the accounts, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the accounts is appropriate. Based uii LIIE wuik hdve pvrfui twiEd, we hdve nut identified ilny material uncertaintie5 ielating to event5 or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a golng concern for a perlod of at least twelve months from when the accounts are authorised for issue. Our responsibilities and the responsibilities ol the trustees with respect to the going concern are described in the relevant section of the report. Other Information The other information comprises the information included in the trustees, annual report, other than the accounts aiid our auditor's report thereon.The trustees are responsible lor iliE uiliei information contained within the annual report. Our opSnion on the accounts 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. Pa98 14

In connection with our audit of the accounts, our responsibility is to read the other information and, in doing so, consider whether the other information is materially incon515tent with the accounts or our knowledge obtained in the course of 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 this give5 rise to a material mi55tatement in the accounts themselves. 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 nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit- Llie iiilui-IT)ali(iT) ¥ivviI iii ihe Lrustevs, ai)IlUdl i Vpoi L loi Ll)¥ liiidllLidl yei ivd fui wliiLlI (lie d¢LvuiIIs ale Vlevdl is ivi-lsislviit willi t11￿ aci(iuTits,- èiid the trustees, annual report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees, annual report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires US to report to you if, in our opinion.. adequate accounting records have not been kept,. or the accounts are not in agreement with the accounting records,. or certain disclosures of trustees, remuneration specified by law are not made,. or we have not received all th@ information and explanationg we require for our 2udit,' or the trustees were not entitled to prepare the account5 in accordance with the small companies, regime and take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees,. Responsibilities of trustees As explained more fully in the trustees, report set out on page 8, the trustees Iwho are also the direttor5 of the charitable company for the purposes of company lawl are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control 35 the trustees determine necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error. In preparing the accounts, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters relating to going concern and using the going concern basis ot accounting unle55 the trustees either intend to liquidate the charity to cease operation5 or have no realistic alternative but to do so. Auditorf5 re5ponsibilitie5 for the audit of the accounts Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error. and to issue an auditorfs 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 IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material If, Individually or In the aggregate, they COLtld reasonably be expected to influence the economic decisions of users taken on the basis of these accounts. Pa9e 15

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. outlined above. to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below.. We have familiarised ourselves with the laws and regulations identified as being of significance to the charitable company. namely the Companies Act 2006, the Charitie5 Act 2011 and the Money Laundering and Terrorist Financing IAmendmentl Regulation 2020. Audit staff and systems are reviewed annually to ensure adequate experience, knowledge and depth of procedures. Our work has been designed to identify fraud, misstatement and non-compliance with such laws and regulations through planned samples of transactions, determination of risk areas and analytical review of results, assets and liabilities. Enquiries of all matters requiring further explanation or confirmation have been made of the trustees and their agents, such as to confirm our conclusions. A further description of our responsibilities for the audit of the accounts is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. Use of our report This report 15 made 501ely to the charitable company s member5, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charitable company's members those matter5 we are required to state to them in an auditorf5 report and for no other purpose. To the fullest e tent permitted by law. we do not accept or assume responsibility to anyone other than the charitable co pany and the charitable company's members as a body, for our audit work, for this report, o the opi iorfj we have formed. Date- .. Lewis Gary Lees-Bu for and on behalf of TIA Lees-Buckley & Co 16 Northfields Prospect Putney Bridge Road London SW18 IPE kley F.C COL (Senior Statutory Auditor) Page 16

Fulham Reach Boat Club Financial Statements Year ended 31 August 2025

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT)

Notes
Income From:
Dona�ons and legacies
4
Charitable ac�vi�es
4.1
Other trading ac�vi�es
4.2
Investments
Total Income
Raising funds
5
Charitable ac�vi�es
5
Total Expenditure
Net gains/(losses) on investments
Net movement in funds
Reconcilia�on of funds:
TOTAL FUNDS, Brought forward
15
Net Movement in funds
TOTAL FUNDS, Carried forward
15		 Restricted
£
187,291
‐
‐
‐
187,291
‐
143,906
143,906
‐
43,385
1,309,166
43,385		 Unrestricted
£
247,224
762,849
5,500
58,714
1,074,287
23,978
819,339
843,317
20,291
251,261
316,090
251,261
567,351		 31.08.2025
TOTAL
£
434,515
762,849
5,500
58,714
1,261,578
23,978
963,245
987,223
20,291
294,646
1,625,256
294,646
1,919,902		 31.08.2024
TOTAL
£
254,092
680,367
‐
56,033
990,492
15,317
921,895
937,212
(2,255)
51,025
1,574,231
51,025
1,625,256
1,352,551

The Statement of Financial Ac�vi�es includes all gains and losses recognised in the year.

The notes on pages from 21 to 39 form part of these financial statements.

Page 17

Fulham Reach Boat Club Financial Statements Year ended 31 August 2025

STATEMENT OF FINANCIAL POSITION

Notes
Fixed assets
Intangible assets
10
Tangible assets
11
Current assets
Debtors
12
Investments
13
Cash at bank and in hand
18
Creditors
Amounts falling due within
one year
14
Net current assets
Net assets
Funds of the charity
Restricted funds
15
Unrestricted funds
15
Total funds		 37,157
659,160
1,187,389		 31.08.2025
£
‐
80,875		 32,786
628,830
977,469		 31.08.2024
£
‐
46,773
80,875
1,839,027		 46,773
1,578,483
1,883,706
(44,679)		 1,639,085
(60,602)
1,919,902 1,625,256
1,352,551
567,351		 1,309,166
316,090
1,919,902 1,625,256

The notes on pages from 21 to 39 form part of these financial statements.

Page 18

Fulham Reach Boat Club Financial Statements Year ended 31 August 2025

STATEMENT OF FINANCIAL POSITION (con�nued)

The Trustees acknowledge their responsibili�es for complying with the requirements of the Act with respect to accoun�ng records and prepara�on of financial statements. The financial statements have been prepared in accordance with the provisions applicable to en��es subject to the small companies’ regime.

Approved by the Trustees on 29 May 2026 and signed on their behalf by:

----- Start of picture text -----
(Chair of Trustees)
----- End of picture text -----

Page 19

Fulham Reach Boat Club Financial Statements Year ended 31 August 2025

STATEMENT OF CASH FLOWS
Notes
Cash flows from operating activities
Net cash provided by operating activities
17
Cash flows from investing activities
Dividends, interests, and rents from investments
Proceeds from the sale of tangible fixed assets
Investments in bonds
Purchase of tangible fixed assets
Net cash generated/ (used in) by investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
18		 2025
£
206,147
58,714
5,500
(10,039)
(50,402)
3,773
209,920
977,469

1,187,389		 2024
£
15,028
56,033
‐
(22,085)
(26,836)
7,112
22,140
955,329
977,469

Page 20

Fulham Reach Boat Club Financial Statements Year ended 31 August 2025

Notes to the Financial Statements (continued)

General Information

Fulham Reach Boat Club is a company limited by guarantee registered in England and Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered address of the charity is detailed in the reference and administrative details page.

Accounting Policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP 2nd edition (FRS 102) (effective 1 January 2019) ‐ Accounting and Reporting by Charities: statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), Section 1A the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Charities Act 2011 and the Companies Act 2006.

Fulham Reach Boat Club meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies (see note 3).

The functional currency of the company is pounds sterling because that is the currency of the primary economic environment in which the company operates. All figures are rounded to the nearest £1.

The following principal accounting policies have been applied:

2.2 Going concern

Financial statements have been prepared on the basis of going concern.

Cash at bank as at 31 August 2025 was £1,187,389 along with a further investment balance of £659,160.

Accordingly, the Trustees have concluded that there are no material uncertainties about the club's ability to continue as a going concern and consider it appropriate to continue to prepare the financial statements on this basis.

Page 21

Fulham Reach Boat Club Financial Statements Year ended 31 August 2025

Notes to the Financial Statements (continued)

2.3 Income

Income is recognised when the charity has en�tlement to the funds, any performance condi�ons a�ached to the items of income have been met, it is probable that the income will be received, and the amount can be measured reliably.

Grant funding of a general nature that are not subject to terms or performance related condi�ons are recognised when the formal offer of funding is communicated to the charity. Where grants are subject to terms of performance related condi�ons, they are recognised in income when the condi�ons have been met, and the charity is en�tled to receive the related funding.

Memberships and tui�on fees are recognised in the period to which they relate.

Income from other trading ac�vi�es comprises income received from facility hire and sale of merchandise and is recognised at the �me of hire or at the �me of sale.

Donated services and facili�es

Donated professional services and donated facili�es are recognised as income when the charity has control over them, any condi�ons associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. Assets donated to the charity are treated as capitalised as fixed assets and the fair value of the dona�on credited to income in the year.

2.4 Expenditure

Expenditure is recognised once there is a legal or construc�ve obliga�on to move a payment to actual expenditure, it is probable that se�lement will be required, and the amount of the obliga�on is accounted for on an accrual basis and has been classified under headings that aggregate all costs to the category. Where costs cannot be directly a�ributed to headings, they have been allocated to ac�vi�es on a basis consistent with the use of the resources.

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources. Support costs include governance costs incurred in the governance of the Charity within are primarily associated with constitutional and statutory requirements.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Page 22

Fulham Reach Boat Club Financial Statements Year ended 31 August 2025

Notes to the Financial Statements (continued)

Expenditure on raising funds

These are costs which are directly related to the raising of voluntary donations and grants and publicising the activities of the charity.

Allocation of support costs

Supports costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back‐office costs, finance, personnel, payroll and governance costs which support the charity's activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 5.

2.5 Intangible assets and amortisation

Intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation is calculated to write off the cost of an intangible fixed asset, net of anticipated disposal proceeds, over the useful economic life.

Amortisation is provided on the following basis:

2.6 Tangible fixed assets and depreciation

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at costs less accumulated depreciation and any accumulated impairment losses.

At each reporting date the charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell land its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight‐line method. Depreciation is provided on the following basis:

Page 23

Fulham Reach Boat Club Financial Statements Year ended 31 August 2025

Notes to the Financial Statements (continued)

2.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short‐term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.9 Investments

Current asset investments, including short‐term deposits and money market funds, are measured at fair value through profit and loss (FVTPL) in accordance with FRS 102 and the Charities SORP. Changes in fair value are recognised in the Statement of Financial Activities (SOFA) as they arise

2.10 Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

2.11 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2.12 Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

Page 24

Fulham Reach Boat Club Financial Statements Year ended 31 August 2025

Notes to the Financial Statements (continued)

2.13 Leased assets

Where assets are financed by leasing arrangements that give rights approximating to ownership (finance leases), the assets are treated as if they had been purchased outright. The amount capitalised is the present value of the minimum lease payments payable over the term of the lease. The corresponding leasing commitments are shown as amounts payable to the lessor. Depreciation on the relevant assets is charged to the profit or loss over the shorter of estimated useful economic life and the term of the lease.

Lease payments are analysed between capital and interest components so that the interest element of the payment is charged to profit or loss over the term of the lease and is calculated so that it represents a constant proportion of the balance of capital repayments outstanding. The capital part reduces the amounts payable to the lessor.

All other leases are treated as operating leases. Their annual rentals are charged to profit or loss on a straight‐line basis over the term of the lease.

2.14 Pensions

The charity operates a defined contribution pension scheme, and the pension charge represents the amounts payable by the charity to the fund in respect of the year.

2.15 Fund accounting

Unrestricted funds and designated funds can be used in accordance with the charitable objectives at the discretion of the Trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements (Note 15).

3 Critical accounting estimates and areas of judgement

The trustees consider that there are no key judgements that management have made in the process of applying the company’s accounting policies and that may have had a significant effect on the amounts recognised in the financial statements.

Page 25

Fulham Reach Boat Club Financial Statements Year ended 31 August 2025

Notes to the Financial Statements (continued)

4 Income from Donations and legacies

E B M Charitable Trust
John Armitage Charitable Trust
Big Give
City Bridge Foundation
Witheren Foundation
Other
British Rowing
Garfield Weston Foundation
Port of London Authority
The Fishmongers’ Company’s
Charitable Trust
The Triangle Trust 1949 Fund
Sport England
The Searle Memorial Trust
The Searle Charitable Trust
Total		 Restricted
funds
2025
£
‐
‐
10,000
30,000
‐
4,221
‐
13,541
25,000
32,444
12,085
10,000
50,000
187,291		 Unrestricted
funds
2025
£
40,000
40,000
‐
‐
10,000
97,224
‐
35,000
‐
‐
‐
‐
25,000
247,224		 Total
funds
2025
£
40,000
40,000
10,000
30,000
10,000
101,445
‐
35,000
13,541
25,000
32,444
12,085
35,000
50,000
434,515		 Total
funds
2024
£
30,000
40,000
‐
‐
‐
109,002
10,500
‐
‐
20,000
29,594
14,996
‐
254,092

Page 26

Fulham Reach Boat Club Financial Statements Year ended 31 August 2025

Notes to the Financial Statements (continued)

4.1 Income from Charitable Activities

Memberships and members' events
Public tuition
School tuition
Miscellaneous
4.2Income from Other Trading Activities
Sale of assets
Total
4.3
Other Income
Interest income
Dividends
Total		 Restricted
funds
2025
£
‐
‐
‐
‐
‐
Restricted
funds
2025
£
‐
‐
Restricted
funds
2025
£
‐
‐		 Unrestricted
funds
2025
£
273,658
267,910
212,790
8,491
762,849
Unrestricted
funds
2025
£
5,500
5,500
Unrestricted
funds
2025
£
39,817
18,897
58,714		 Total
funds
2025
£
273,658
267,910
212,790
8,491
762,849
Total
funds
2025
£
5,500
5,500
Total
funds
2025
£
39,817
18,897
58,714		 Total
funds
2024
£
216,000
193,190
263,516
7,661
680,367
Total
Funds
2024
£
‐
‐
Total
funds
2024
£
33,948
22,085
56,033

Page 27

Fulham Reach Boat Club Financial Statements Year ended 31 August 2025

Notes to the Financial Statements (continued)

5
Expenditure
Raising funds
Charitable activities
Total		 Direct
Costs
2025
£
‐
879,950
879,950		 Support
Costs
2025
£
23,978
83,295
107,273		 Total
Costs
2025
£
23,978
963,245
987,223		 Total
Costs
2024
£
15,317
921,895
937,212

Total expenditure for the year ended 2025 was £987,223 of which £843,317 was unrestricted and £143,906 was restricted.

Analysis of Direct costs

Analysis of Direct costs
Staff costs
Depreciation
Regatta and rowing costs
Occupancy expenses
Total		 Restricted
funds
2025
£
143,906
‐
‐
‐
143,906		 Unrestricted
funds
2025
£
542,465
16,300
57,050
120,229
736,044		 Total
funds
2025
£
686,371
16,300
57,050
120,229
879,950		 Total
funds
2024
£
652,211
24,727
36,416
113,788
827,142

Page 28

Fulham Reach Boat Club Financial Statements Year ended 31 August 2025

Notes to the Financial Statements (continued)

Analysis of Support costs
Marketing
Audit and accountancy
Professional fees
Communications
Other
Total		 Restricted
funds
2025
£
‐
‐
‐
‐
‐
‐		 Unrestricted
funds
2025
£
19,667
8,564
14,670
14,492
49,880
107,273		 Total
funds
2025
£
19,667
8,564
14,670
14,492
49,880
107,273		 Total
funds
2024
£
20,304
4,000
27,009
16,961
41,795
110,069
  1. Net expenditure/Income for the year is after charging:
Operating lease rentals ‐ Property
Auditor’s fee
Independent examiner's fee
Depreciation
Total		 Unrestricted
funds
2025
£
50,400
3,600
‐
16,300
70,300		 Total
funds
2024
£
42,582
‐
4,000
24,728
71,310

Page 29

Fulham Reach Boat Club Financial Statements Year ended 31 August 2025

Notes to the Financial Statements (continued)

7. Staff Costs

Total
Total
funds
funds
2025
2024
£
£
Wages and salaries 564,997
531,415
Social security costs 42,632
42,488
Employer's pension 31,078
30,297
Other Staff Costs 47,664
48,011
Total 686,371
652,211
The average number of persons employed by the charity during the year was as follows:
2025 2024
No. No.
Members of staff 36 32
The number of employees whose employee benefits (excluding employer pension costs) exceeded
£60,000 was:
2025 2024
No. No.
In the band £60,000 ‐ £70,000 1 1
In the band £70,000 ‐ £80,000 1 1

8. Trustee remuneration and expenses

No Trustee received any remuneration, retirement benefits or reimbursed expenses during the current or prior year. The charity insurance policy includes Trustee Indemnity Insurance for the benefit of the Trustees; the value of this insurance is not able to be quantified.

Page 30

Fulham Reach Boat Club Financial Statements Year ended 31 August 2025

Notes to the Financial Statements (continued)

9. Taxation

As a registered charity, the company is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only.

10. Intangible assets

Cost
At 1 September 2024
At 31 August 2025
Amortisation
At 1 September 2024
Charge for the year
At 31 August 2025
Net book Value
At 31 August 2025
At 31 August 2024		 Computer
Software
£
23,290
23,290
23,290
‐
23,290
‐
‐

Page 31

Fulham Reach Boat Club Financial Statements Year ended 31 August 2025

Notes to the Financial Statements (continued)

11. Tangible Fixed assets

Cost
At 1 September 2024
Additions
Disposals
At 31 August 2025
Depreciation
At 1 September 2024
Charge for the year
On disposals
At 31 August 2025
Net book Value
At 31 August 2025
At 31 August 2024		 Long‐term
leasehold
property
£
26,012
‐
‐
26,012
3,517
520
4,037
21,975
22,495		 Fixtures
and
fittings
£
2,024
‐
‐
2,024
2,024
‐
2,024
‐
‐		 Computer
equipment
£
7,020
1,609
‐
8,629
4,212
1,726
-
5,938
2,691
2,808		 Boat
equipment
£
459,489
48,793
(12,999)
495,283
438,019
14,054
(12,999)
439,074
56,209
21,470		 Total
£
494,545
50,402
(12,999)
531,948
447,772
16,300
(12,999)
451,073
80,875
46,773

Page 32

Fulham Reach Boat Club Financial Statements Year ended 31 August 2025

Notes to the Financial Statements (continued)

12.
Debtors: Due within one year
Trade debtors
Accrued income
Prepayments
13.
Investments
At 1 September 2024
Additions
Revaluations
At 31 August 2025
14.
Creditors: Amounts falling due within one year
Trade creditors
Other taxation and social security
Other creditors
Accruals		 2025
£
11,235
9,666
16,256
37,157
2025
£
628,830
10,039
20,291
659,160
2025
£
6,510
15,791
10,614
11,764
44,679		 2024
£
7,188
10,074
15,524
32,786
2024
£
609,000
22,085
(2,255)
628,830
2024
£
13,059
12,604
12,246
22,693
60,602

Page 33

Fulham Reach Boat Club Financial Statements Year ended 31 August 2025

Notes to the Financial Statements (continued)

15. Statement of funds


Statement of funds
Unrestricted funds
Designated funds
Asset replacement
Operating costs
General funds
Total unrestricted funds
Restricted funds
Junior Bursary
Programme
Boats not bars
Free Watersports Week
Beach Sprint
Capital grants
Schools Rowing
Programme
St George ‐ Section 106
funding
Pontoon Replacement fund
Total restricted funds
Total of funds		 Balance
at 1‐Sep
2024
£
16,090
300,000
316,090
‐
316,090
16,166
‐
‐
‐
‐
‐
1,293,000
‐
1,309,166
1,625,256		 Income

£
‐
‐
‐
1,094,578
1,094,578
‐
91,665
‐
‐
95,626
‐
‐
‐
187,291
1,281,869		 Expenditure
£
(14,241)
‐
(14,241)
(829,076)
(843,317)

(16,166)
(91,665)
‐
‐
(36,075)
‐
‐
‐
(143,906)
(987,223)		 Transfers
in/(out)
£
68,000
100,000
168,000
(168,000)
‐
-
-
-
-
-
-
(1,101,000)
1,101,000

‐
‐		 Balance
at 31‐Aug
2025
£
69,849
400,000
469,849
97,501
567,351
‐
‐
‐
‐
59,551
‐
192,000
1,101,000
1,352,551
1,919,902

Page 34

Fulham Reach Boat Club Financial Statements Year ended 31 August 2025

Notes to the Financial Statements (continued)

Prior Year

Prior Year
Unrestricted funds
Designated funds
Asset replacement
Operating Costs
General funds
Total unrestricted funds
Restricted funds
Junior Bursary
Programme
Boats not bars
Free Watersports Week
Beach Sprint
Adoptive Rowing
Schools Rowing
Programme
St George ‐ Section 106
funding
Total restricted funds
Total of funds		 Balance at
1‐Sep 2023
£
26,566
200,000
226,566
‐
226,566
41,666
8,500
‐
‐
‐
‐
‐
1,293,000
1,347,666
1,574,232		 Income

£
16,996
‐
604,953
621,949
5,000
56,836
66,440
10,425
3,500
226,342
‐
368,543
990,492		 Expenditure
£
(26,836)
‐
(26,836)
(505,588)
(532,425)
‐
(35,000)
(65,336)
(66,440)
(10,425)
(3,500)
(226,342)
‐
(407,043)
(939,468)		 Transfers
in/(out)
£
(636)
100,000
99,364
(99,364)
‐
-
-
-
-
-
-
‐
‐
‐		 Balance
at 31‐Aug
2024
£
16,090
300,000
316,090
‐
316,090
16,166
‐
‐
‐
‐
‐
1,293,000
1,309,166
1,625,256

Page 35

Fulham Reach Boat Club Financial Statements Year ended 31 August 2025

Notes to the Financial Statements (continued)

Restricted Fund – St George Sec�on 106 funding

Sec�on 106 [S106] funds are restricted for use only and within the London Borough of Hammersmith and Fulham [LBH&F], for example to maintain the pontoon infrastructure of an es�mated value of c.£1m and the LBH&F schools rowing programme. This excludes use at other sites other than the Chancellors Road site in Hammersmith, or charitable ac�vi�es and programmes outside of the LBH&F, such as Boats not Bars.

16. Analysis of net assets between funds

Current Year
Tangible fixed assets
Current assets
Creditors due within one year

Total		 Restricted
funds
2025
£
‐
1,352,551
‐
1,352,551		 Unrestricted
funds
2025
£
80,875
531,155
(44,679)
567,351		 Total
funds
2025
£
80,875
1,883,706
(44,679)
1,919,902

Page 36

Fulham Reach Boat Club Financial Statements Year ended 31 August 2025

Notes to the financial statements (continued)

Prior Year

Prior Year
Tangible fixed assets
Current assets
Creditors due within one year
Total		 Restricted
funds
2024
£
‐
1,309,166
‐
1,309,166		 Unrestricted
funds
2024
£
46,773
329,919
(60,602)
316,090		 Total
funds
2024
£
46,773
1,639,085
(60,602)
1,625,256

Included within current assets are designated cash balances for boat replacement of £69,849 (2024 ‐ £16,090) and operating costs £400,000 (2024 ‐ £300,000). Refer to note 15 for details of these designated funds.

Page 37

Fulham Reach Boat Club Financial Statements Year ended 31 August 2025

Notes to the Financial Statements (continued)

  1. Reconciliation of net movement in funds to net cash flow from operating activities
2025
p
£
Net Income/(expenditure) for the year
(as per Statement of Financial Activities)
294,646
Adjustments for:
Depreciation charges
16,300
Investment income
(58,714)
Profit on disposal of fixed assets
(5,500)
(Gains)/losses on revaluation of investments
(20,291)
(Increase) in debtors
(4,371)
(Decrease)/increase in creditors
(15,923)
Net cash provided by operating activities
206,147
18.
Analysis of cash and cash equivalents
2025
£
Current accounts
87,662
Go Card Less
9,354
Reserve account
112,366
Short term deposits
978,007
Total cash and cash equivalents
1,187,389		 2024
£
51,025
24,728
(56,033)
‐
2,255
(7,054)
107
15,028
2024
£
91,485
3,495
61,289
821,200
977,469

Page 38

Fulham Reach Boat Club Financial Statements Year ended 31 August 2025

Notes to the Financial Statements (continued)

19. Operating lease commitments

At 31 August 2025 the charity had commitments to make future minimum lease payments under non‐cancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later
than 5 years
Later than 5 years		 2025
£
50,400
201,600
1,713,600
1,965,600		 2024
£
51,132
178,970
1,752,776
1,982,878

20. Related party transactions

There are no related party transactions during the year.

The Trustees consider the board of Trustees as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day‐to‐day basis, along with Adam Freeman Park, who is the Chief Executive Officer. All Trustees give their time freely and no remuneration was paid in the year.

Page 39