## 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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Group's logo
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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**
1
## 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.
2
## 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.
3
## 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)
4
## 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:
- 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
- 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
- 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
5
## 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.
6
## 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)
7
## 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.
8
## 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|
|---|---|---|---|---|---|---|
9
## 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.
10
## 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|
|---|---|---|---|---|
11