RE(>STERED COMPANY NUMBER: CE010827 IEThJland and Wales) REGISTERED CHARITY NUMBER: 1174337 REPORTOFTHE TRUSTEES AND UNAUtITED FINANCIAL STATEMEHtS FOR THE YEAR 30SEPtEP•lBER 2023 FOR PADLLE ROUND PIER GallowaysA¢¢wnlin9 IHovel Mited The Olit Casino 28 Fourth Avenuo Hove BN3 2PJ
PADDLE ROUND THE WER CONTEwfs QFTHE FINANCIAL STATEMEKrs FOR THE YEAR ENDED SepTEmBER 2023 Re01 theTTusItos 1 to 4 Staternentof Fknan&al ktivlll6s B4lan¢e Shett Notes to the FInal81 Statements 7 to 11 12
PADDLE ROUND ThE PIER REPORT OFTHE TRUSTEES FOR THE YEAR ENDEO 30 SEPTEM8ER2023 The trtee8 are also ifeCtors of l)¥e for the purpc6es of the Comparmes Act 2(KK. wtsent thetr reFJ)rt with the finanoal statsmènts of the charty for the year en¢Jed 30 Sspt&nLw 2023. The trtee5 have edoFtsd the prlOr of Accounb"ng and Rewrbng ty Chatibes: Staiernent of Recomrnended Prac"ce aprAicatAe to chariliÈs weparing their eccounts in accordance vAlh IhÈ Fin8noai Rewting Standard al¢aL4e in the UK and Rewtéic ol 114and IFRS 1021 leffecve 1 January 20191. OWECTIVESAND ACTlblTIES Oblectives and aims Obje¢tives and The Chaitty was fJnIkd in 2017 after suctessfulty runr4rKJ as o lmrtd o>mFrany unthr tho ¢threLlorEhip of David Samuel fot tr•er 20 yea Pathjè Rwnd th¢ lieraims to.. . Pro)te a healthy and OLINè lifestyk. ' Provide a community F48lfom theTe local can attess beach and water [st raing for gt)od causes. ' Promole local beach & watÈr SrtS lacilitse4 assoaations, dut6 and the sea as a ffft activity &rtaygrod. ' Educate ctrtsldren and young or4e on ffirst aid sea safety and lifesaving skil&. . PrtivÈde an IndUe event trdlthÈn and Yn9 FrAe 1th4Jlrtie5 are atle to access equa thliti'es the trEach and in Ihesea. ' To cdebrate in the coniry together of thè water sports ¢cffimunity to ct41a¢t funds for loc4 iarib"es and organisation& Signif1 tivitieS The fows ol av our current fitndraigng is the 'Paddè Round thè Ner th Fé#tiv81' hÈld annUty during Ihe fi¢st weekend in ts. tt is a free event whieh SÈÈS a trernend edeth"c nix of sea bws events such as swfing" slan&Jp padde., dviry Canng and a hugdy popular raft race'Padde somethi,. The fcvjs ofall our lUndraingS the Padde Roundthe Aer Beath Festival. The trtee8 entered dscu&%ions with a local community siMming to dscu5S organing an even( but unfothnately shortbmescales (5th1 a full Pathle eventto te arranged Publk tenefft The Trustees confiTm that they have mted with the duty in se¢knon 17 151 of the Chartbes Act 20?1 to have duè regard to the gitidance wtlBhed by the chale5 Comrni&gon on wt'c tenefft ¥%en reviewing the Chantys airr and objectiv and in FIarttng fubjre act'vities for the ytrgr. Padde Rwndlhe Pier benefits the F1¢in a numtw ofways.. . Creing an AC £eath to sNL)w (fig81Ied VEWtOTS to swim in the sea ' Gives grants to Sussex based c¢rgaralItsL who promotetho heamhy 8njDymentof thg5gasi¢Jè ' Promoting care for the enviyonmènt and S"nade IrIng ' Providngthe OPF¥)rtunty forlhtssèvtho May not notmalty te atrjetr). to tske Ffjrtin avariety ofwater-tsed actiwbes. ' Young and dd a like are a14eto eXwIen awatei OLvity An opnity ftrr the commurty to ceFetwateth8 b¢nefits crfsea%dè livsng. Vdunle¢rs A smai grwp of vdunteeB, indu(ling the Tr00s, referred to as the Padde Crew hdp ¢xganise the event and they are then j(MThed ty 8 larger tearn of Feorje during thè wÈnt itself. Thesè indude Ihe Brithton S[ LJ"fe &w"ng Club and the Suwx Project to name a fthv. The regnation of a trustee occufred in 2022. total vdunteer hours for Meetin Sot up, atthe eventandthe dearing site tosaled hou STRATEGIC REPORT AchIwetand terforrnance Charilablethities Gr¥nt Wicatr'ons tre owed in T4 Nrt htld, due to the charity still awaiting (k)nations for entrants fees to scAne tvents. Trustees were d5apK¥inted to not te atle to a4%erd apF4ieations during thffJ nalia1 poll(yJ h(?1 we hqxng to rÈCe monies due andsuccessfully wpportthe CharibesO apFlied for a grant
PADDLE ROUND THE PIER REPORT Cf THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2trI3 STRATErc REPORT Financial revie Financial FJsillon The tvLFt8es knvw there would be less irKomg due in from only hrAdYwJ a one ity event but 1he lorus for Pad¢Ye 22 was to reengage 1th thè sea ath'vibes ¢Dmmunity. Plu8 bth¢re the festiv81 had twne a gatedl fenced event in past yea[4 ty not having a Plt Village in 2071 the tnBtees there WOLthI no revenue gerrated from gate donations. Padde R¢und The 14er has a balance and limit OutgC4r 80 is in a good I'0n lo Lwtinuè Vth havè rèvithY•d our exw8es and these areat a mlnimum. Padde Round thè Pier thes not maintain a Re8eFves Fund. After eath Padrjg event we ensurè wè have rAid dl of our costs and then ants arè made to local organisat'OTY6. HaVeT. as thtr economy has been more urÉertalft and the woild i8 faLing a dfficuY< e(x)nomic fLrtUfe. gnce Ctiwd 19 thè trLLStee8 Flan to keep a 81ightly larger arnount the bank acwuntlo buffeF agair£t any financial thallenges the charlty may face in th&bJture. Principal flsks and unceriainties The trustee5 ensure that they [ry txrt regaT and ¢)nIng 8ssè&smnts of w}tIe risks to the charity and in Fortictrfarthe o[nisa10n of the annual Beach Fesb"v81. -A d9preSs economy may lead to fewerswnsors and therefore less SrA%Ship bwng secured. ' impacts'ng vi%tor numbers and ineome. "Athetse sea con(fib"orts 1¢h may impaet on tho based programme ertsuFe that wè insurance in the evert that the 8¢8ch F1val has to te can(AwJ due to severe weather conth"ons. We ensure th èll costs arè eovered pri¢x to the event ond tr)erefe all fund5 raised (Jn gven lo local charities v¢a our Grants scem9. The arnovnt gvon to chaTty is ¢JeFendent on the amount teCted att eventr, therefore sve a*'ustthe amount "ven tothe chaftty. The main riskthe ch8ittyfaces is engaoqng and rthninu rts voluntser base to be atrAèto an evèrt. Mirllml atténdan attheAGM in Oct 22. Fubjre plaiys The Tnth are F4aMing lo hdd an event in 23, rèuiit newtriBtgFs and enga fjth voluntee. Pag8 2
PADDLE ROUND THE PIER REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER2023 Govtrnlry drtument The d)arty is contrc41ed ty its consitubon. da1 14th March J)17 and 0rateS as g CIO. Tkos dueto be revivue£l. staternertof TwstÈès' Reswn5ibllllles The Trustees are resFKJrtIe for woparing th¢ Truste annual ieport and the ffinan(ad ststements in a(OrdanCe wth atWlc&4e lawand Llnited nOrn Accounting Stanthrds IU¥it¢d lfjng&)m GenerallyAepÉedP£C0urtting Practs"cel. Comparty and thaTity law iequires the Tru#eès to prep8te finan¢id statemènts for eoch finantaai yeaT. Under compafty law the TnISt must not aw¥ove the finan(i statements they ale sab"sfied that they &ive a true and lasr view of the 8tato of afv.ts of the group and parent chanty and of the inwning resourc45 and apr11On of resour, in4u¢ng its income a1 expendtuiq ofthe 0UP for the year. In prering those financ•d statements the Trustees are rwired lo". - Sdedsuitatle awjunb'ng tdides and then 8Fly thern cowstÈnly - Ot6erve methots anrj yinctF4fy8 in the Ch8T¥Ues SORP - Makejudgments and acMnlÉng "MatS that are reasonatAè and pruéent - Prepare the finan(?al statements on the concem ba&s unless tt is inakyotaiate to wèsume that the charity wl1 cont.nue in business. The twstèes are r&snStle for ks•p'r¢g adoquate and accovnts.ng rec¢y( that aro suffirAént to show Ènd eX&4n the dtaritys tr8nsaetions and (fisdo6e reasonaLle acuracy at any time thè finanryd pw150n of the chaiity and ene them to ensure th the finanLyal stalem6nts comkly wth Ihe cttaiib.ès Act X111 and regulation$ mèd8 théreafter and the requirements of the Cornpaiues Act 2LK6. Tty are also resportiLle foT Sofegu8rd'ng the assets of1he Charty ond hence fNtakir¥J reasonatle sler£ forthe prevention and fjetedion offraud and otherirregulanties. The InBtees 8rè re5wjrltAe lor the mainlgnance and irAegiity of the tP)ra fjnd financial bnforma"on irKauded on the charty's¥t. Recruitment aPFrt)intmentof newtru51È•s I trustees gva their tim8 VdInIy and theTefor• receNe no trrtèfft from Ihe charity. Apart from the first challty tnJ5tees, every must t¢ a¥wnted for a tem of three Yea ty a re6duth.on passed at a Txoperty conven¢d meeting of chatrty. In selecting in(Ividuals for apwntment as chaiity trLthes, th¢ chaTity must h8ve regard tri the iolLs. kniv1ed and eXrETi$n need for the effethe adrninistralion ol the organi8ation. y trustÈè vacanues wll te athèrfised anng the thgtiiY6 vdunteers and seNio prowdets as vts fad that ri is vrtal th8t all TnBtees are vwy farnAiar thè org8nwti.on and ethos of Ihe evenL If approached ty anyon8 Intwested in becomiryJ a Tnjstee has not PTeMThY inved in the event. we irmite them to tEwme Involved 8nd then apY to be 4 tnjstee. 11 none of rAK vd%JnteeTS or servicè providers to te trustoes. tIn the vacancy would te a¢fverbsed in the YAthr commuThty. REFERENCEAND ADMINISTRATI1 DETAILS Reglstered Company numl CE010W27 IEnJand and Waesl Rtylstetl Charlty number 1174337 The Cxd Casino 28 Fourth Avenu8 Hove East Sussèx Bf43 2PJ Tfust R Pdling Iresign&d 25.7.78} MsDA&Jdd Ms AHaTllS EVENTS SINCE THE END OF THE YEAR Information rdatingto events Sin the end ofthe year 1$ gNen Fn the rw)te810 thefinanc4al **m8nts. Page 3
PADDLE ROUNO THE IIER REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30SEPTEM8ER I3 This reiNJI has teen rwarad itl acuxdce 1th the sCla w0v5or6 of Part 15 of the compa83 Art 20C6 rd8t.ny to sma15 cOmnies. Rep)rt of the Irirt incorpY)rats'ng a strateg¢ reporL apwoved ty ord&r of thÈ trx)ard of trustees, a9 the jMpanY direLtors. on....17.,...1.l..W..-........ and gned on the lar(r8 t)eh*r tty." pe4
PADDLE ROUNDT+E PIER STATEMENT OF FINANcIAcTIlIES (INCORPORATING AN INCOME AND ExpeNIJWRE ACCOUNT) FOR THEYEAR ENDED 30SEPTEMBER 3m 2023 Uniestrided lund lunds IKOME AND ENDOV4MEMfs FROM Donaliorfj and lasHcaes 2,010 5.171 EXPENtXTURE ON Rai8ing fvnd5 1.574 5.394 Chatttae (k)nalion 3.254 3,471 4.828 NET INCOMMEXPENDITUREI 118181 13,8981 RECONCIUATION OF FUNDS Total fvn(k kntytfoward 11,703 15,601 TOTAL FUNDS CARRED FORWARD 8,885 11,703 CONTINUI OPERATIONS I In())me and expen¢thtute h89 allsenfrom tt)ntinuing activitheB. The nDtes form part ofthese ltsiarKaat ¥tatements P5
PADDLE ROUNDTHE PIER 30 SEPTEMBER2023 20rJ Unrestricted l¥nd Tot funds Notes FIXED ASSETS irtangue assets Tangtlè assèts 1,140 3,850 1,425 2,990 18SI CURREKf ASSErs DebtOTS Cash al bank 921 6.4 21 8,413 7.417 9.234 CREDITORS Amounts falling due within one year (1.Y221 11,5221 NET CURRENT ASSErs 7,812 TOTALASSEfs LESS CUIIRENT UAB)LIIIES 11.703 NEfASSETS 8.885 11,703 FUNDS Unrestii<ed ftEn¢h.' General fvnd 8.885 11.703 TOTAL 8,885 11.703 The tharitst4e clpHnY is enti¥ed to ex6mFkn"on frun au(fjt undar Section 477 01 the comleS Art 2C(fj for the year ended 30 SeFrtemLl23. Thè memtrTS have not rBqEhiod Ihe CoMnY to otthn an au(5t of tts financial statements lor th¢ year ended 30 Septemkr 2023 in aceord8nce ¥th secb.on 476 ofthe Compare5 20(. Tho tntsleés acknedge thdi r6SFMs1.1[ties for lal ensuring that thè thalltabFe Mparty keeps a¢¢x)untirg records that with Sethns 366 and 387 of the ComFonies A¢t and Fxeparing financial stateménts whith gve a true and lai vibw State of afvrs of the tharitatle LY)mKHny as at the end of each finan(a8t year and of ts SUrU$ or dofieit for e8ch ffinanriat yr in accordèno wlh the requirements of Sections 394 and 395 and Ythich othe1v comKty M41h Ihe reffj4rements of the Comp8rries Act 20Cfj relating t0)Inaa stements. so far as alCatIo10 the tharilatde c¥)mpany. These ffinanua ststgments have ten w¥red in a¢TdanCe wth the provIor aF¥4icalAe to chatiiat4e comrffjnies 8ubj.ect tothe small mPan reg'me. Ib} The n(3al ststèments were apèd t/ the Board of Trustoes and aulhonsed for issug 11...L. ........ andeTegnedu4tshl[ty.. D A Bud¢Jel- TfLEteè The notesform Fort of the58 finan¢ial 8tateTnents
PADDLE ROuTHE PIER NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDEO 30 SEPTEMBER 2023 ACCOUNTING POUCIES Btslsof weparir¥J thefinanclal stalwnents The finanual ttements of the charrtotAè company, whith is a putlie tnèfft entity uftdw FRS 102. have been prep8red in actOTdance Yth the Charities SORP IFRS 1021 'AcwJnting and RepytirvJ ty Charities.. Statement of Rerxjmrnenthd Practice awlicat4e to charibes preparing their accounts in accordan 1th the Finanaal Reporting Standard ap.atrIe in thè UK and ReNJtrllc of Ird8nd IFRS 1(r21 (Èlfecbvé 1 January 20191,. Finaw Reporting Stan¢rd 102 Tr FinarLid Repoiting Sl2ndard apF4icatle in the UK and RepuLlic of Irdand. and the Com[nieS Ad Th. Th• finarK# slatemonts have be8n preparad under the historiLI ee£t conventi(. The aecoT2nts are pTepar8d on a concem after cOrtsKr&rati ty thè trustees that ther8 are no materiaj ur"nI.es alwt the Cl•b aNity tv conlE"nu@ as a 9?ng concom. Such eon8idefalM indudgs a rgv%ew of cornmitted incorne and exFendFbJfes. cash and reserye8. The trustees th not con&der that thero are any sources of eslT'mth"on tsncertainty * Ih8 re)"n ttt have a %lfi(XHt risk of causing a mrial justment to the cav¥wng arnount of assets aDY liatrAlitses wthin the next reForting 9. Fina141 reporting 5taNJard 102. AlUCeAI disclosure exemptvJn5 The chaiitatle company has taken a(fvarttage of Ihe fL410n0 dsd(tsure exemi"on In eng Ihese finanti staiements, a5 Fermitted ty FRS I2 The narKa81 Rewb'ng Stanttard apFAicatle in the UK and Reput4ic ol Ireland.. the requirements of Sedion 7 Statementof Cash FIcpAs. l ynLY)tne 13 rerowised in the Statement of Financ4al Athvibes Or the charity t erdTUewRnt to the fvnth, it is prOe that the incomèM411 tècai¥ed andthè amountcan measured latty. ExrRnditufe Liat41ities are recogni8ed as &xpendbJre as soon as there is a Eegal of constnjctive Olgatic¥n comrnrtbng the (8rty to that expendrture. it 15 prot¢t4e that a transfer of economic bents wll be rewred in ¥etttement and the amount of the ouigath.on me•Jr8d tdiatty. Expendiure 1$ aOunted on an 81$ basis and has LEen da5sified under headn9s that agJregate all cx)st rdated to the e9)ry. ere costs cannot be cfire¢ty ailrihrted to rtiCular heathng8 have been allocated to aclivibes on a consistsTrt wth the use of resources. &ants offered $ubJ"ert to cmthtiorts vthich have ncl teen met at the year end dale are nrknj & a ¢omrritment but not attrued as expendture. Tangiblefixed assets Depreaation is F¥owded at the f(4loMiNJ armual tates In order lo write off each asset over bts eslimated usefvl Fixtures and Frtlin 25% on a redng ba The charity ts oxemptfrom corpor'c>n tax on it8 charitalje adiv.e Fur#1 acewntlng Unrestriciedfunds w Lp used in dWordan &RTitaL4e obp¢ves atth? th5"0n ofthe trust$. Réstn"ctÈd funth ran only te used for partiojar restrithd purFXXS wtrin the oty'ects oftr doTrty. Restrictions arise when SFEofied by the dontxorY4tsnfunts are fased fvr paiti¢yJtar restiicted Wre8. Furthw exFlanalion ofthe nature and wrpw of each fund is irr inthe nc*es tothe finanrAal statements. Pagè 7 ¢onlinued...
PADDLE ROUND THE PIER NOTES TO THE MNANCIAL STATEMENTS-contIn FOR THE YEAR ENDED 30SEPTEMBER2023 NET INCOMFJIEXPENI)IIUREI NetinC0ThlexpamStUreI is statsd after cthargnty(credtr"ng).' 20Z3 21Y12 Deprecalion. ONe 8ss¢ts Wet6ite Cc anwrbsation 616 821 285 TRUSTEES. REMUNERATION AND BENEFITS Thore were no trus, iemwraton or other benefts for the y¢ar ended 30 Stymber 2023 nor frJF the year ended 30 SeFrtemter 2022. Thère were no trustees, experw for the year endgd 30 Smbef 20Z3 nof for the year ended COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTMTIES UnTethct¢d fvnd INCOME AND ENDOWMEMfs FROM Don8b"ow and legacie8 5.171 EXPENDITURE ON Rasing fund6 hwltable actpi Charitstle (lonab"on 204 otheT 3,471 Total 9.(9 NET INCOMEI(EXPENtMTURE) 13,8981 RECONCIUAMON OF FUNDS Total fuThts bfghtlorward 15.e01 TOTAL FUNScARED FOIMPRD 11,703 INTPNGIBLE FIXEOA8SETS Wet6ite COST At l Odtster 2CQ2 and 30 SeFtsmber2tr23 2,849 AMORTISATION At 1 October 2022 Charge forye 1.424 285 At 30 SeptemtÉr 2023 1,709 NEf BOOK VALUE At 30 September2Q3 1,14Ql 1,425 Pag8 8 conbnved...
PADDLE ROUNDTHE PIER NOTES TO THE FINANCIAL STATEMENTs-eontinuI FOR THE YEAR ENDED 30 SEPTEMBER m3 TANGIBLE FIXED ASSETS FLxbJres and fittingB COST At l ortotT 2022 SekeMr?)23 10,386 DEPRECIAnoN At 1 Odober Charge for year 7.920 616 30 September 20ZJ 8,536 NET BOOKVALUE At 30 Septemter2023 At 30 SeOember2U22 DEBTORS: AMOUNYS FALUNG DLE WITHIN ONE YEAR 2023 2022 Prepaymenb and accated income 921 CREDITORS: AMOUNTS FALUNG DUE ONE YEAR 2023 Trade uedtots AraL$ and defoFred in¢x)me 1,520 1,522 MOVEMENf IN FUNDS Net movement in funds 1.10.22 30.9.23 Unre5*ted funds General fund 11.703 12,8181 TOTAL FUNDS 11,71YJ 12,8181 8,885 Net movement in ftJ¥)ts. indu(ladin ts aknve are as fdlrwts.. Ino)ming Rwur¢es Movemènt in funds Unrestricted fvnds General fwid 2,010 14,8281 12,8181 TOTAL FUNDS 2,010 14.ff281 118181 Page 9
PADDLE ROUND THE HER JTES TO THE FINANCJALSTATEMENTS.eonthAued FOR YEAR ENI)ED 30 SEPTEIABER2023 MOVEME IN FUN£>S-continu8d movsmeftl in funds 1.10.21 30.9.22 Unrestrlcted funds General fund 15.601 11898) 11.703 TOTAL FUNDS 15,601 13.8981 11.703 COMrave net movèmelrt in funts. induded inlhe atr)ve are &%frllNs'. IrLming resour$ Resour< expended Movernent in fvn( Unrestwkted funds Generat fvnd 5,171 19.(E91 (3.8981 TOTAL FUND5 S.171 19,L091 13.8981 A ci¢rrentyear 12 monthsand p year 12 moth comtined IK&O"on is as fou Nel ¥)vement in fun 1.10.21 30.9.23 General fuF 15.e01 16.7161 8,885 TOTAL FUNDS 15.601 16,7161 8,885 A ¢yJrrent year 12 months and pn"c* year 12 monts CA>mtined n81 m(ement in fu, I¥K4uded in the akx)ve arè as fdlows.. lnlxsnng resourS R6soure exnded overnent in fijnts Unre5trkt¢d fun¢ts GÈnèral fund 7.181 113.897) (6.7161 TOTPL FUNDS 7,181 113,8971 16,7161 Page 10 ¢xntinu$d...
PADDLE ROUNDTHE HER NOTES TO THE FINANGIALSTATEMEKfs.conllnu¥J FOR THE YEAR ENDED 30 SEPTEMBER 2023 10. RELATED PARTY DISCLOSURES There were no rded patty tr8wCti(x forthe year en¢d30 SeKemt¢r 2m. 11. W¢ re to run a Ilal in Juty 2023 duè to the not ting atrAe to $et a date and limitatiorn in gallbng an event Thè current 3 trustees hawng tn mth'ng felationshipE wth thg lo¢ netrrk and have NtsDTlonu in CdIatrA)rab" other communrty group6 in tsking Pathje Rwnd ts F4w festiva forward and hoF¢ to tsINer an eventin 2024. P8ge11
PADDLE ROUNDTHe WER DETPJLED STATEMENT OF FINANCIAL ACTIWllES FOR THE YEAR ENDED 30SEPTEMBER2I)23 INCOME AND ENI)OWMENTS Donations 2.010 5,171 Totsl iOrnIng resour5 2,010 5.171 EXPENDITURE Eventthts Insutsnce Sut6eripb"Dns storagè Costs 2,878 8,767 154 595 301 1.574 Charitable tivItIeS ChantatAe (bnalj'or 204 Supwrt Costs Flnance Bank tharges Development costs Fixiwes and fith"JYJg 285 616 285 9)1 1.1C Computer Expenses AC(X)Urtan and fees 281 2.281 Total fesources expended Net elndItle 12,8181 (3,8981 Th kKgge ¢S)Ès notfom Fort oflhe statylory)Inanc4al st*Èments Page 12