CHARITY NUMBER 1162897 The 1815 CIO THE BC)WMAN FUND THE 1815 CHARITABLE INCORPORATED ORGANISATION "TrIE BOWMAN FUND" ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE 1815 CHARITABLE INCORPORATED ORGANISATION cotr¥rENTS PAGE YEAR ENDED 31 MARCH 2025 CONTETrrrs PAGE General infomiation Annual report of the Trustees Independent Examinerfs report to the Trustees Statement of financial actNitie$ Balance $he8t Notes to the financial statements 10-12
THE 1815 CHARABLE INCORPORATED ORGANISATION GENERAL INFORPAATION Rogi8t•rod Charlty namo The 1815 Charitable Incorporated Organisation, also known as"The Bowman Fund. Charfty numb•r 1162897 Prlnclpal #ddress ile L¢>Jge 3 The Gardens Esher Surrey KT10 8QF Trust• D Brocklebank- Chairman D Foster~ Indep8ndenl Trustea N Perks- Indendent Trustee P Edmondson - Independent Trusts8 L Harray- Independent Truste8 J Keel- Independent Trustee E Smilh- Independenl Trustee- appjinted 07109124 P Parker - Nominated Trustee K Lythgoe- Nominated Tru¥tee- appointed 01109124 Independent Examlner Jackie Crouch JCA Accountants 12 Brambk Rise Cobham Surrey Kf112HP Bankorn Barclays Bank PIC 4th Fk)or Apex Plaza Reading RG1 1AX Webslte ..IlW.theb0WrnanfUnd.o Emall addrn8S
THE 1815 CHARITABLE INCORPORATED ORGANISATION ANNUAL REPORT OF THE TRUSTEES YEAR ENDED 31 MARCH 2025 The Trustees are pleased to present the Annual Rewrt and Financial Statements for The 1815 Charitable Incorporated Organisab"on I'The 1815 cio"} for the year ended 31 at March 2025. Dunng the year The 1815 CIO carried out aclivibes as"The 1815 Club. {fvndraising and alumni contact development) and as'The Bowman Fund" (endowment managèment to ensure long-term futfilment of The 1815 CIO'S charitable purwses. REFERENCE AND ADMINISTRAnVE DETAILS Reference and administrative details are shown in the schedule of general informatlon on page 1 of the financial stslements. THE TRUSTEES The Trustees who seNed the Chanty during the year are shown on page 1. STRUCTURE. GOVERNANCE AND MANAGEMENT Structuro The Fund is organised as a charitable incorporated organisation and 1$ govemed by a Conslrtub'on. last amended on 21 May 2015. The Conslrtulion adopts a foundation model whi¢h means the only voting m¢mbers are the Iruslees. The Fund was registered as a charity in England and Wales by The Charity Commtssion under Charity number 1162897 on 29th Juty 2015. TrUSt4- Govèrnance and Management There are categories of tru51ee'. 1. th8 independent Iruslees, who are drawn from alumni of Brasenoso College Boat Club, being.. Mr Daniel Brockiebank (Chairman).. b. Mr DavKI Foster c. Ms Natasha Pefks d. Mr Joseph Keel o. Ms Laura Harray,. f. Mr Peter Edmndson g Mrs E. Smith (appointed 7th September 2024},' and 2. the nomlnaled Iruslees, who have been nominated by Brasenose Colkge, Oxford, being.. Mr Philip Parker, and b. Dr K Lythgoe (appointed 1 Septemter 2024) Mr Parker, and Dr Lylhgoe also serve as trustees of the wistered chadty number 1143447 - The King's Hall and Col*e of Brasenose. Oxford. The Constittjlion provides that there shall not be less than three independent truslaes and no more than tsvo nominated trustees at any given timè. Other than the first Iruslees. trustees ar8 appointed for a tgrm of three year5 and may be eligib for reappointment The trustees a¢lNely encourage and seek lo invite interested persons to join The CIO as trustees andlor as volunteers. On appointment. each new trustee is provKied with a copy of the consts1utn. finanaal information, trustee minutes and a pack summarising legal and regulatory oblatnS as published by The Charity Commission. Trustee meetings are held regularly and, typically. three ts'mes a year. The trustees manage th& atrair5 of The Fund in accordance with the objectives and poweTS set out in the Consblution. Trustees regularty consider financial matters and review the risks lo which the Chanty is exposed lo ensure appropriate contr5 are in place. Rlsk management The Trustees have a duty to identy and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasoftab assurance against fraud and error. The Trustees have imprnented a risk management strategy Wh comprt$es.' an annual revw of the risks which the Chanty may face
THE 1815 CHARrrABLE INCORPORATED ORGANISATION ANNUAL REPORT OF THE TRUSTEES YEAR ENDED 31 MARCH 2025 the establishment of systems and prctedures to mitigate those risks whh include the approval of all purchase invo$ by a Trustee prior lo payment the implementation of procedures designed to minimise any wtential impact of the risks on the Chanty should any of those malerialise. OBJECTIVES AND ACTivmES Objoctivos The CIO'S objectives are.. ?0 facilitate partlpat)n in hèatthy r8cr8atib)n and Ihe further8nc8 of 8duc8tion at Oxfor thmugh promotion of the sports of n)wing. sculling and coxing at all lavels of ability and disabilty (as such sports may dev&lop over tsm•) at Br8s8nose Co118g8. Oxforrf. Throughoul the financial per, the CIO'S xtivlts'es have been consistent wrth these objectives and the CIO continues to enjoy good relalh?ns wrth Brasenose College. Oxford (registered charity numbor 11434471 'The College.. Actlvltlu". Meetlngs Two trustee meeting$ We held during the year lon 3rd April 2024 & 26th Juty 20241 in addltion to the CIO'S AGM which was held on 9th October 2024. M•tter8 under ¢OnsIdera0Th During the year the trustees approved the fomalion of The 1815 Club to act as the face of The 181 S CIO for alumni engagement purposes. Peter Edmondson was appointed as the inaugural President of The 1815 Club. The 1815 Club was launched successfully and xhieved a pleasing level of parbcipation from alumni. Membership fees repsent a meaningful additional wular income source for the CIO in future. As a result, the 1815 CIO was able to replace BNCBC'S lost sponsorship income l$e8 Granl-makin9 below). Donations The Iruslees remain èxtremely grateful for the ongoing support of various Brasenose College alltmni who have shown their Gontinued financial support of the CIO since charitsble registration in July 2015. Cash donats'ons received, before Gift Aid, during the year amounted to approximatety £14.912. As al 31 March 2025, the CIO hekl tr)tal assots valued at £413.403. comprising of.. Equity Investments £ 392,018 Cash IGBP) £ 20,480 Grfl Aha Recoverable £ 1,625 Trustees of the CIO continue to a¢ts"vely seek further donations to build the endowment fund to a size that offers a Sustainable long-term funding wlubon for all aspects of rowing al The College. In appreciation of donors, generosty and the shared vish)n for The CIO'S obje¢tNes. all donors have been recognised on The Roll of Honour on The Fund's websrte htt ".Ilww.Ihebowmanfund.or Idonors-roll-of-honour html. Further infonnation about donating can be obtained from The Fund's webs www.the1815.or
THE 1815 CHARITABLE INCORPORATED ORGANISATION ANNUAL REPORT OF THE TRUSTEES YEAR ENDED 31 MARCH 2025 Grant4naking At the AGM on 6th October 2024, the trustees adopted a grant-making fraffork. The aims of the framework are.. To provide trustees wim guidance each year as lo what level of grant-making in furtherance of the charitable purposes of The 1815 CIO is consistent with the long-lerm philosophy adopted by The Bowman Fund and the trustees. desire to ensure inter-generational faimess.. To 9ive fLrture donors and 1815 Club members clanty aut how their donatK)ns and membership fees are being used: and To provide some visibilrty to BNCBC into the financial support availab from The 1815 CIO each year for annIng and budgeting purposes., The spending tramework sets a minimum annual grant'the Floorf which is madè to BNCBC by The 1815 CIO each year. This is an unreslricled grant for BNCBC to use lo fvrther ils 9oals. This is sel as the higher of the lost sponsorship amount and the 3-year averaJe of the recurring income from membership fees paid by alumni to be memtws of The 1815 Club. This Floor provides an annual grant with certainty to place the lost sponsorship income and thereby provides a minimum grant amount for the coming year that BNCBC can plan and budget ft)r. In addition to this unrestricted grant, the trustees wll, as in prior years, consider requests for ad hoc funding. In order lo ensure the long-lemi sustainability of the Bowman Fund, the spending framework also sets a guideline for the maximum total grants to be author&8ed by trustses in any given year which is known as 'the Cap.. The Cap is set al the sum of Ular subscription income from The 1815 Club plus a 'Sustsinable Grant Amount.. The Sustainable Grani Amunt eh year is calculated as a grant rale (initllY 2.5%) applied to the 3-year trailing average of the Bowman Fund's year end values. The aim of the spanding framework is not lo bind trustees in future years. Instead it is a means to provide a consistent starting point for grant-making decisions each year that reflects the Intend long- tèrm philosophy on which The 1815 CIO was established. The Floor and Cap amounts at 31* March 2025 are shown below, with prior year comparison.. 31-Mar-25 314lar-24 Floor £5.000 £5,000 Cap £17,408 £9,759 Publlc Benellt The objectives of the chanty are to seek to improve access to the sport of rowing and connected acts'vils at all leve15 and a"lItIeS al Brasenose College in a non-discriminatory and fully-inclusNe way. The eharity aims to inculcate w'n¢iples of good character. loyalty. discipline and a sense of resp)nsibility in students through the participation in sports and lo promote the participation in Sports rmre generally for the public benefft. In exercising their dutEs. the trustees have referred to and have had due regard to The Charity Commission guidance on public beneftl. The trustees cwfirm that they give carefvl consideration lo ensuring that The CIO'S actNibes satisfy such guidance. The Charty has complied wrth section 17{51 of the 2011 Charthes Act to have due regard to the guidance published by the Chanties Commission.
THE 1815 CHARABLE INCORPORATED ORGANISATION ANNUAL REPORT OF THE TRUSTEES YEAR ENDED 31 MARCH 2025 ACHIEVEMENTS AND PERFORMANCE The Fund's Financial Statements represent the period of operation up lo 31* March 2025. In the period. the charity generated a gross income. including Gift Aid, of £29,876. which. after tsking into consideration account adminislralion and direct costs, generated nel income of £21,257. In addition, gains on investments of £21.516 twnl that the CIO ended the year with unrestri¢ted lotal fvnds of £413,403. Donated Servlces At this stage the charity is not in receipt of any donated services or fxilities and has not re1ved any gift8 in kind. Plans for Futuro Years The Trustees intend to continue to invest the monies donated lo the Charty to enable them to apply the future investment income to the fvrtherance of the Charity's objecb"ves. R••eNe• Policy The trustees have Considered the requirements for reserves for the charity and are aware of the need lo continually monitor reserves. In deciding upon The Fund's investment policy. the trustees have decided that ca$h balances of at least 6 )nthS expenditure shall be maintained at all limes. The trustee8 believe that the CIO has adequate resources lo meet its requirements for the foreseeable future. Th& charity had no debt or OblallOnS outstanding at year end or at the date of this ReFQrt. FINANCIAL REVIEW The Charity is well placed lo make carefvlty considered investments for the genèration of fijlure income. STATEMENT OF TRUSTEES. RESPONSIBIUTIES The Chariljes A¢t 2011 requires the trustees to prepare financial statements f¢y each financial year which give a true and fair view of the state of affairs of th& charity and of the incoming resources and application of resources, including income and expenditure, of the charity for Ihal period. In preparing these financial statements, the trustees are required to". select suitabl& accounting poIleS and then appw them consistenYy', observe the ffethods and principles in the Charrtw SORP,. make judgements and accountsng estimates that aro reasonable and prudent state whether applicable accounting standards have been foll¢)wed subject lo any material departures disclosed and explained in the financial $taterrents.' and prepare the finanal statements on the going concem basis un18ss it is inappropriate lo do so. The trustees are responsiblo for keeping proper accounting records that disclose wf(h reasonable accuracy at any time the financial position of the charity and enabk them to ensure that the financial slalements comply with The charib.es Act 2011. They are also responsible foT safeguarding the assets of the charity and hen¢e for taking reasonable steps for the prevention and detection of fraud and other irregularib"es.
THE 1815 CHARITA8LE INCORPORATED ORGANISATION ANNUAL REPORT OF THE TRUSTEES YEAR ENDED 31 mAH 2025 INDEPENDENT EXAMINER JCA Accountants will be prop05ets f(x re-apwintment as tndependent examiror for Ihe ensuing yeai at the AGM to be held on 29th Septemter 2025. The tru81ees declare that they have approved the Report and Financial Statements for the period ended 31sI March 2025. Sned on their txhasf by". D Bro¢kleb8nk Chaim)8n
THE 181S CHARITABLE INCORPORATED ORGANISATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Report to the trnstees of The 1815 Chantable Incorporated organisation Chanty Number.. 1162897 On accounts for the year ended 31 March 2025 Set out on pages 8t012 Respectlve responslbiliti88 The Charity's trustees are responsible for the preparation of the accounts. The charity's of trustees and examiner Irustees consider that an audit is not required for this year (under section 14412) of the Charrtie$ Act 2011 (the 2011 A£ll and that an independent examinatw)n is needed. It is my responsibility lo examine the accounts under Section 145 of the 2011 Art lo follow the procedufes laid down in the general Directions given by the Chanty Commissjon under SeCtn 14515llb) of the 2D11 Act, and lo stale whether pa'CUlar matters have come to my attention. 8as18 of Ind•pond•nt examlner'8 8titement My examination was camed out in accordance with general Directions given by the Chanty Commission. An examinatjon includes a review of the accounting reGord5 kept by the ¢hanty and a comparison of the accounts presented with those re¢ords. It also includes consideration of any unusual Items or disclosures in the accounts and seekin9 explanations from the trustees ¢on¢eming any such matters The procedure8 undertaken do not provide all the evidence that would be reqUId in an audit, and consequently no opinion is given as to whether the accounts psent a 'tru8 and fair Vi8w' and the report is limited to those matters set out in the stat8m8nl below. Independent frxamlnoV8 statement In connection with my examinalion, no matter has comè lo my attention.. which give5 me reasonable cause to believe that, in any material spect, the fequirements.. to keep ac¢ounbng COrdS in accordance wth section 130 of the 2011 Act,. and lo prepare xcounts which accord wrth Ihe a¢UntIng records and comply wrth the applicable requirements concerning the forni and content of accounts sel out in the Chanties (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and fairf view which is not a matter considered as part of an independenl examination, have not been met", or 12) to whlch. in my opinion, attention should be drawn in order to enable 8 proper understsnding of the accounts lo be reached. Signed Date.. 1.) 202S Name JackK8 Crouch Relevant professional qualificats.on or body AAT The notÈ# on pay 9 to 11 fovm part of th•8• finanelal stat•m•nts.
THE 1815 CHARABLE INCORPORATED ORGANISATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Funds 2025 Total Funds 2024 Total Funds No INCOME Donations, legacies & other income Investment income 16,412 13.464 16,412 13,464 1,475 10.529 TOTAL INCOME 29.876 29,876 28.610 EXPENDITURE Charitsble a¢tivrti88 8,619 8,619 46,686 TOTAL EXPENDITURE 8,619 8,619 18,923 NET INCOME (EXPENDITURE) 21,257 21,257 9.687 Gainslllossesl on investments 21,516 21,516 23,539 RECONCILIATION OF FUNDS Totsl fvnds broLSght forward 12 370,630 370,630 337,404 TOTAL FUNDS CARRIED FORWARD 12 413,403 413,403 370.630 The Statement of Financial Acts'vilies includes all gains and losses in the year and therefore a statement of comprehensive income has not been prepared. All of the ab)ve amounts relate to continuin9 actwib'es. Thè notès ¢4n pa9•$ 9 to brni p#rt of th•$• fin•n¢i•l stat•mènl•.
THE 1815 CHARITABLE INCORPORATED ORGANISATION BALANCE SHEET 31 MARCH 2025 2025 2024 FIXED ASSETS Inwtmsnts 392.018 355.502 CURRENT ASSETS Debtor5 Cash at bank and in hand 10 1,625 20,480 125 15.723 22.105 {7201 15.848 17201 CREDITORS: AmnIS falling due wrthin one year 11 NET CURRENT ASSETS 21.385 15.128 NET ASSETS £413.403 £370.630 FUNDS UnreStrted inctsne funds 12 413.403 370,830 TOTAL FUNDS £413,403 £370.630 All 8ssetB and Ikabililies rel8le lo unrestricted funds These financial staterrnnt¥ were approved by the TTustee5 and authorised for issye ¢)n the z•f Sy Z03 8¥)d are s*aned on theif b•hall by". D BrOckk Chairman Th¢ notes on pages 9 to 11 lorn1 p•rt of the#• financial 8tstemenls.
THE 1815 CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES3 Statement of complkonce The financi21 statements hav8 been prepared in XCOrdan with Accounts'ng and Reporting by Charibes.. Slalement of Recommended Practi applicable lo charities preparing their accounts in accordance with the Firsancial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20151- (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} and the Charittes Act 2011. Basis of preparatlon The 1815 Charitable Incorporaled Organisatvm meets the definrtion of a public benefft entity under FRS 102. Assets and liabil-rties are inth.alty recognised at historical cost or transaction value unless otheNise stated in the relevant accountsng pJicy notes. Golng concem The Trustees cOnser that there are no material unrtaInties about the Charity's ability to continue as a going concern. Incom• and endoMnents Donakn"ons, investment and rental income are recognised on a receivable basis. Fund accounting Unrestri¢ted funds can be used in 1rdance the charitable ObJteS at the dt5cretKsn of the Trustees. here restricted fijnds are recetved, they can onty te used for particular restricted purposes thin the objects of the Charity. Restricb'ons arise when specffied by the donor or when funds are raised for parbcular restncted purF*)ses. Forelgn ex¢hange Transa¢b"ons denominated in foreign cvrrencies are translated into slerfing and recorded at the rale of exchange ruling at the ¢Jate of the transacb"on. Balances at the year end denominated in a foreign currency are translated into steding at the rate of exchange mling at the year end date. Fixed asset investments Fixed asset investments, other than programme related investrnents, are included at market value al the balan sheet date. Realised gains 2nd losses on investsments are calculated as the difference beeen sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credrted to the Ststemenl of Financial Acb'vities in the period of disposal. Unrealised gains and losses represent the m0vent in market Vall during the year and are credited or charged to the Slatement of Financral Activit5 based on the market value al the year end. Taxation The Charity is exempt from tax on its charitable tivItIes. Value Added Tax Value Added Tax is not rVerable by Ihe Charity and as such is included in the relevant costs in the Stalemenl of Financial Activiiies. -10-
THE 1815 CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 DONATIONS, LEGACIES AND OTHER INCOIAE Totsl Funds T¢)tal Funds 2025 2024 DonatnS reIved £16,412 £16,396 INVESThIENT INCOME Total Funds Total Funds 2025 2024 DNidends received £13.464 £12,214 EXPENDITURE ON CHARrrABLE ACTIVMES 2025 2024 Support costs: Donations made Cost of Goods Sold Sundry costs Bank charges Total 7,705 2,922 15,143 192 138 £7,899 £18,203 Govemance costs {see note 51 Total Charitable Activities 720 720 £8,619 £18,923 GOVERNANCE COSTS Total Funds Totsl Funds 2025 2024 Independent examination & accountancy fees £720 £720 NEf INCOMING RESOURCES FOR THE YEAR This is stated after charging.. 2025 2024 Independent examination fee for the financial ststements £600 £600 STAFF COSTS AND EMOLUMENTS There were no employees during the year. 11
THE 1815 CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 IAARCH 2025 TRUSTEES. AND KEY MANAGEMENT REMUNERATION AND BENEFITS The TTuslees (who are consKlered to represent the key management of the Charity) all give freely their ts.rne and expertr.se without any fom of remuneration or any other form of benefit in cash or in kind. There was no Trustees. reMuneratn nor other beneffts for the year ended 31 March 2025. Trustees. expens8s There were no Twstees. expenses pa for the year ended 31 March 2025. FIXED ASSET INVESTMENTS 2025 2024 Co8t or Valuatlon At 1 April 2024 Additsons Revaluabon 355.502 15,000 21,516 £392,018 321.463 10.500 23.539 Nel book value at 31 March 2025 £355.502 10. DEBTORS 2025 2024 Gift Aid refijnd due 1,625 125 £1.625 £125 11. CREDITORS: Amounts falling due within one year 2025 2024 Accrual - Independent Examinerfs fees - Accountancy & tsx fees 600 120 600 120 £720 £720 12. UNRESTRICTED INCOME FUNDS Balance at 1 April 2024 Incomlng vesources Outgoing resource$ Balance at 31 Mar 202S General Funds 370.630 51,392 {8,6191 413.403 13. POST BALANCE SHEET EVENTS There have been no events whh would require dis¢lo$ure in or adJusknent to these accounts. -12-