Bradford Amateur Rowing Club
Charity number 1164951
A company limited by guarantee number 09662095
Annual Report and Financial Statements
for the year ended 31 August 2022
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Bradford Amateur Rowing Club
Annual Report and Financial Statements for the year ended 31 August 2022
| Contents | Page |
|---|---|
| Trustees' report | 2 to 4 |
| Examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the accounts | 8 to 11 |
Prepared by West Yorkshire Community Accountancy Service CIO
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Bradford Amateur Rowing Club
Trustees' report for the year ended 31 August 2022
Reference and administrative details of the charity, its trustees and advisors
The trustees during the financial year and up to and including the date the report was approved were: Name Position Dates
Position Dates Celia Hickson Chair Keith Myers Treasurer Ronald Drake Secretary Charity number 1164951 Registered in England and Wales Company number 09662095 Registered in England and Wales
Charity number Company number
Registered and principal address
Bankers
4 Warren Avenue Santander Bingley Bootle West Yorkshire Merseyside BD16 3BZ L30 4GB
Independent examiner
Simon Bostrom FCIE
West Yorkshire Community Accountancy Service CIO
Stringer House 34 Lupton Street Leeds LS10 2QW
Structure, governance and management
The charity is a company limited by guarantee and was formed on 29 June 2015. It is governed by a memorandum and articles of association, amended 27 Sept 2016. The liability of the members in the event of the company being wound up is limited to a sum not exceeding £10.
Method of recruitment and appointment of trustees
The trustees of the charity are also the directors for the purposes of company law and are appointed by the members at the AGM.
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Bradford Amateur Rowing Club
Trustees' report (continued) for the year ended 31 August 2022
Objectives and activities
The charity's objects
The promotion of community participation in healthy recreation by the provision of facilities specifically for sweep oar rowing, sculling and other related sports ('facilities' means land, buildings, equipment and organising sporting activities);
providing and assisting in providing facilities for sports described as above, recreation or other leisure time occupation of such persons who have need for such facilities by reason of their youth, age, infirmity or disablement, poverty or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving their conditions of life;
and advancing the education of children and young people through such means as the directors think fit in accordance with the Charities Act 2011.
The charity's main activities
The charity is a rowing club and provides all the facilities, equipment, training and support services that members need to enjoy the sport of rowing.
The charity maintains a stretch of the river Aire to ensure that it remains rowable.
Public benefit statement
In setting our objectives and planning our activities our trustees have given serious consideration to the Charity Commission’s general guidance on public benefit and in particular the provision of sports facilities for rowing.
Achievements and performance
The club weathered the restrictions of the Pandemic and has now re-opened with all the vigour and activity of the pre-pandemic period. With the retained loyalty of our members and hard work by the committee the club continued to thrive. This engagement has been successful and lead to a very good renewal of members for our new year.
Financial review
The net expenditure for the year was £956, including net expendiutre of £206 on unrestricted funds and net expenditure of £750 on restricted funds after transfers.
Reserves policy
The charity's free reserves, excluding fixed assets, at the year end were £173,280.
The rowing club has existed for over 150 years. The trustees acknowledge their duty to maintain sufficient reserves to make it likely that they can maintain the club for the benefit of future generations. The policy of the charity is to retain free reserves of approximately £20k, being about half of the annual income of the charity.
Work is continuing on the weir repair and in managing the work so that it is affordable.
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Bradford Amateur Rowing Club
Trustees' report (continued) for the year ended 31 August 2022
Statement of trustees' responsibilities
The trustees (who are also the directors for the purposes of company law) are responsible for preparing the Trustees report and the financial statements in accordance with the applicable law and UK Accounting Standards.
Company law requires the trustees to prepare financial accounts for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the trustees are required to:
select suitable accounting policies and apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the accounts on a going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (Charities SORP (FRS102)), and in accordance with the special provisions of the Companies Act 2006 relating to small companies.
Approved by the board of trustees on 20/12/2022
Keith Myers (Trustee)
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Bradford Amateur Rowing Club
Independent examiner's report to the trustees of Bradford Amateur Rowing Club
I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 31 August 2022, which are set out on pages 6 to 11.
Responsibilities and basis of report
As the charity's trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2 the accounts do not accord with those records; or
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3 the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or
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4 the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Simon Bostrom FCIE
20/12/2022
West Yorkshire Community Accountancy Service CIO
Stringer House 34 Lupton Street Leeds LS10 2QW
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Bradford Amateur Rowing Club
Statement of Financial Activities
(including summary income and expenditure account) for the year ended 31 August 2022
| Notes 2022 Unrestricted funds £ Income from: Grants and donations (2) 13,696 Membership Fees 30,557 Race entry and regattas 6,800 Bank interest received 66 Property income 4,598 Surplus on disposal of fixed assets - Other Income 1,443 Total income 57,160 Expenditure on: British rowing levy (3) 878 Boat maintenance 831 Equipment maintenance 1,539 Property maintenance 4,191 Heat, light and water 2,905 Council tax and refuse 367 Telephone and internet 435 Insurances 6,479 Cleaning 799 Administration 299 Race entries and travel 6,242 Miscellaneous 139 Weir maintenance - Independent examination 600 Depreciation 29,622 Loss on disposal of fixed assets 2,040 Total expenditure 57,366 Net income / (expenditure) (206) Fund balances brought forward 604,410 Fund balances carried forward (4) 604,204 |
2022 Restricted funds £ - - - - - - - - - - - - - - - - - - - - 750 - - - 750 (750) 21,259 20,509 |
2022 Total funds £ 13,696 30,557 6,800 66 4,598 - 1,443 57,160 878 831 1,539 4,191 2,905 367 435 6,479 799 299 6,242 139 750 600 29,622 2,040 58,116 (956) 625,669 624,713 |
2021 Total funds £ 8,098 27,032 1,449 12 - 637 50 37,278 743 1,673 923 1,384 2,239 502 499 6,662 678 175 1,365 204 750 600 27,511 - 45,908 (8,630) 634,299 625,669 |
|---|---|---|---|
All incoming resources and resources expended derive from continuing activities.
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Bradford Amateur Rowing Club
Balance sheet
| as at 31 August 2022 2022 Unrestricted £ Fixed assets Tangible assets (5) 430,924 Total fixed assets 430,924 Current assets Debtors and prepayments (6) 14,905 Cash at bank 179,230 Total current assets 194,135 Current liabilities: amounts falling due within one year Creditors and accruals (7) 20,855 Total current liabilities 20,855 Net current assets / (liabilities) 173,280 Net assets 604,204 Funds Unrestricted funds 604,204 Restricted funds - Total funds 604,204 |
2022 Restricted £ - - - 20,509 20,509 - - 20,509 20,509 - 20,509 20,509 |
2022 Total £ 430,924 430,924 14,905 199,739 214,644 20,855 20,855 193,789 624,713 604,204 20,509 624,713 |
2021 Total £ 459,836 459,836 5,014 173,806 178,820 12,987 12,987 165,833 625,669 604,410 21,259 625,669 |
|---|---|---|---|
For the year ending 31 August 2022 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with section 476. The trustees (who also the directors for the purposes of company law) acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and with FRS 102 (effective January 2019).
The financial statements were approved by the board of trustees on 20/12/2022
Keith Myers (Trustee)
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Bradford Amateur Rowing Club
Notes to the accounts
for the year ended 31 August 2022
1 Accounting policies
Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102. There has been no change to the accounting policies since last year.
No changes have been made to the accounts for previous years.
Going concern
The trustees are satisfied that there are no material uncertainties about the charity's ability to continue.
Incoming resources
All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources, it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability.
Grants and donations
Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Where grants are related to performance and specific deliverables, they are accounted for as the charity earns the right to consideration by its performance.
Expenditure and liabilities
Expenditure is recognised on an accrual basis as a liability is incurred. Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out the resources and the amount of the obligation can be measured with reasonable certainty.
Taxation
As a charity the organisation benefits from rates relief and is generally exempt from income tax and capital gains tax but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.
Tangible fixed assets
Tangible fixed assets are capitalised and included at cost including any incidental expenses of acquisition. Gifted assets are shown at the value to the charity on receipt.
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over their expected useful economic lives as follows:
Freehold land: nil Freehold buildings: over 50 years Boats: over 10 years Fixtures and fittings: over 10 years Plant and machinery: over 4 years
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
Further explanation of the nature and purpose of each fund is included in the notes to the accounts.
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Bradford Amateur Rowing Club
Notes to the accounts continued
for the year ended 31 August 2022
| Grants and donations John Holroyd Bequest Donation from trading subsidiary Bradford MDC Other donations |
2022 Unrestricted funds £ 10,000 2,732 - 964 13,696 |
2022 Restricted funds £ - - - - |
2022 Total funds £ 10,000 2,732 - 964 13,696 |
2021 Total funds £ - - 8,000 98 8,098 |
|---|---|---|---|---|
2 Grants and donations
3 Property Income
Bradford Amateur Rowing Club, the charitable company receives income for property costs from Bradford Amateur Rowing Club (Trading) Limited. The property costs are assessed at 60% (Bradford Amateur Rowing Club) and 40% (Bradford Amateur Rowing Club (Trading) Limited).
| 4 Restricted funds Weir maintenance fund |
Balance b/f £ 21,259 21,259 |
Incoming £ - - |
Outgoing £ 750 750 |
Transfers £ - - |
Balance c/f £ 20,509 20,509 |
|---|---|---|---|---|---|
Fund name Purpose of restriction
Weir maintenance fund
See detailed note below:
Bradford Amateur Rowing Club (company number 09662095, charity number 1164951) raised money from members, external individuals and organisations specifically to carry out substantial repairs to the weir which is needed to keep the river suitable for rowing.
The company (Hirst Weir Limited, company number 04827629) owns the weir and monies are transferred as and when required.
| **5 ** | Tangible assets Cost At 1 September 2021 Additions Disposals At 31 August 2022 Depreciation At 1 September 2021 Depn reversed re. disposals Charge for year At 31 August 2022 Net book value At 31 August 2022 At 31 August 2021 |
Plant and Machinery £ 3,750 2,050 - 5,800 2,750 - 1,013 3,763 2,037 1,000 |
Fixtures £ 20,000 - - 20,000 12,000 - 2,000 14,000 6,000 8,000 |
Boats £ 196,087 700 (5,100) 191,687 112,851 (3,060) 21,209 131,000 60,687 83,236 |
Land and Buildings £ 400,000 - - 400,000 32,400 - 5,400 37,800 362,200 367,600 |
Total £ 619,837 2,750 (5,100) 617,487 160,001 (3,060) 29,622 186,563 430,924 459,836 |
|---|---|---|---|---|---|---|
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Bradford Amateur Rowing Club
Notes to the accounts continued
for the year ended 31 August 2022
| 6 Debtors and prepayments Amounts owed by subsidiary company Prepayments Other debtors 7 Creditors and accruals Amounts owed to subsidiary company Accruals Subscriptions paid early |
2022 £ 9,034 3,601 2,270 14,905 2022 £ 66 805 19,984 20,855 |
2021 £ 1,704 3,310 - 5,014 2021 £ 61 1,056 11,870 12,987 |
|---|---|---|
8 Related party transactions
Trustee expenses
No trustee received any expenses during this year or the previous year.
Trustee remuneration and benefits
No trustee received any remuneration or benefit during this or the previous year.
Other related party transactions
BARC has control over the wholly owned subsidiary Bradford Amateur Rowing Club (Trading) Limited (company number 09784699).
During the year BARC charged this company £4,597 in respect of use of the charity's property (2021: £nil) . The trading company had accumulated profits of £2,732 which are donated to the charity. At the year end the trading subsidiary owed a net amount of £8,968 to the charity (2021: £1,643)
BARC is also the sole member of Hirst Weir (company number 04827629). During the year BARC made its annual contribution to Hirst Weir towards maintenance costs.
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Bradford Amateur Rowing Club
Statement of Financial Activities including comparatives for all funds (including summary income and expenditure account) for the year ended 31 August 2022
| 2022 2021 Unrestricted Unrestricted funds funds £ £ Income Grants and donations 13,696 8,098 Membership Fees 30,557 27,032 Race entry and regattas 6,800 1,449 Bank interest received 66 12 Property income 4,598 - Surplus on disposal of fixed assets - 637 Other Income 1,443 50 Total income 57,160 37,278 Expenditure British rowing levy 878 743 Boat maintenance 831 1,673 Equipment maintenance 1,539 923 Property maintenance 4,191 1,384 Heat, light and water 2,905 2,239 Council tax and refuse 367 502 Telephone and internet 435 499 Insurances 6,479 6,662 Cleaning 799 678 Administration 299 175 Race entries and travel 6,242 1,365 Miscellaneous 139 204 Weir maintenance - - Independent examination 600 600 Depreciation 29,622 27,511 Loss on disposal of fixed assets 2,040 - Total expenditure 57,366 45,158 Net income / (expenditure) (206) (7,880) Fund balances brought forward 604,410 612,290 Fund balances carried forward 604,204 604,410 |
2022 Restricted funds £ - - - - - - - - - - - - - - - - - - - - 750 - - - 750 (750) 21,259 20,509 |
2021 Restricted funds £ - - - - - - - - - - - - - - - - - - - - 750 - - - 750 (750) 22,009 21,259 |
2022 Total funds £ 13,696 30,557 6,800 66 4,598 - 1,443 57,160 878 831 1,539 4,191 2,905 367 435 6,479 799 299 6,242 139 750 600 29,622 2,040 58,116 (956) 625,669 624,713 |
2021 Total funds £ 8,098 27,032 1,449 12 - 637 50 37,278 743 1,673 923 1,384 2,239 502 499 6,662 678 175 1,365 204 750 600 27,511 - 45,908 (8,630) 634,299 625,669 |
|---|---|---|---|---|
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