Lakeland Rowing Club
Unaudited Financial Statements for the
year ended 31 December 2025
Company Registration Number 10768742
.£iAINT&CO
qARTERED ACCOUNTANTS

LAKELAND ROWING CLUB
LEGAL AND ADMINISTRATIVE INFORMATION
Directors
J A Mccumiskey
A M Morgan
D Pratt
P R Eldridge
Trustees
J A Mccumiskey
P R Eldridge
V Gibson
J McLeish
(Appointed 7 April 20251
(Appointed 7 April 20251
Secretary
M F Hammond
Country of Incorpofatlon
United Kingdom
(England and Wales)
10768742
CharSty rezlstratlon
England and Wale5
1174446
Reilstered office
Bridge End Farm
Ullock
Workington
CA14 4TP
Independent ex3mlner
lan Thompson BAIHons}, FCA
Unit 78 Lakeland Business Park
Lamplugh Road
Cockermouth
Cumbria
CA13 OQT

LAKELAND ROWING CLUB
CONTEKrs
Page
Directors, report
Independent examiner's report
Statement of financial activities
Balance sheet
Notes to the financlal statements
6-15

LAKELAND ROWING CLUB
DIREcfoRS' REPORT (INCLUDING DIREcfoRS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their annual report and financial statements for the year ended 31 December 2025.
The financial statements have been prepared in accordance with the accounting polities set out in note I to
the financial statements and compty with the club's 8overnin8 document, the Companies Art 2C(J6, FRS 102
"The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP
"Accountin8 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 IFRS 1021"
Ob5ertives and actl¥ltles
The club objectives are the promotion of community Participation in healthy recreation in particular by the
provision of facilities for the sport of rowing. The club's activities are the provision of facilities, equipment,
coaching, and tompetition 5UPPOrt for members of the club and it makes ￿creatIOnal 5POrt, in particular
rowing, available to members of the community.
The directors have paid due regard to 8uldance issued by the Charity Commission in deciding what activities
the club should undertake for the public benefit.
Achlevements and perforn)ance
This year we continued to attract new members to both adult and lunior sections through a successful learrb
to row season, and enjoyed si8nificant success in the racing calendar.
A bursary has been established to support members in financial difficulty.
Fln•nclal revlew
The committee are satisfied with the club's financial perfomance. Grants have been obtained to facilitate
the purchase of additional equipment. notably racin8 boat5.
The club aims to hold 12 month5 Worth of running costs in free reserves. Runnin8 Costs were around £18,000
this year, and the amount of free reserves (unrestricted funds not tied up in fixed assets) at the year end was
£25,413.
Plans for future perfod5
The club's future plans are aimed at increasing access to rowing for as wide a range of people as is possible,
to continue to encourage young people to take up the sport. to increase the club's profile and presence in
the rowing world by 8rowing its ability and experience to host rowing events on Derwent Water, and to
identify a venve which is suitable for use as a permanent base for the club.
stn￿ule, go¥ernance and management
The day to day attivities of the Company are managed by a committee which is formed as a subcommittee
of the Board of Directors and is made up of Board members and elected members. The terms of reference
are set by the Board and matters reseryed to the board are set out in the terms of reference.

LAKELAND ROWING CLUB
DIRECTORS. REPORT (INCLUDING DIREcfoRS' REPORTI (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The direttors who served during the year and up to the date of signature of the financial statements were..
l A Mtcumiskey
A fvl Morgan
D Pratt
P R Eldridge
V Gib50n
J MtLeish
(Appointed 7 April 2025)
(Appointed 7 April 20251
Trustees are appointed by the committee members.
Small company pro¥lslon5
This report has beerb prepared in accordance with the provision5 applicable to companies entitled to the
small companies exemption.
The directors, report Wa5 approved by the Board of Directors.
J A Mccumiskey
Dlrector
17 March 2026

LAKELAND ROWING CLUB
INDEPENDENf EXAMINER'S REPORT
TO THE DIREcfoRS OF LAKELAND ROWING CLUB
I report to the direttors on my examination of the finantial statements of Lakeland Rowing Club (the clubl
for the year ended 31 December 2025.
Responslbllities and basls of report
As the directors of the club land also it5 directors for the purposes of company lawl, you are responsible for
the preparation of the financial statements in actordance with the requirement5 of the Companies Act 2006.
Having satisfied myself that the financial statements of the club are not required to be audited under Part 16
of the Companie5 Act 2CK16 and are eligible for independent examination, I report in respect of my
examination of the club's financial statements carried out under section 145 of the Charities Act 2011. In
carrying out ffly examination I have followed the Directions given by the Charity Commission under section
14515llbl of the Charities Act 2011.
Independent examlner's ststernent
I have completed my examination. I confirm that no matters have come to my attention in connection with
Ihe examination giving rne cause to believe that in any material respect:
accountin8 records were not kept in re5pert of the club as required by section 386 of the Companies Act
2IXI6.
the financial statements do not accord with ihose record5.' or
the financial statemenis do not comply with the accounting requirements of section 396 of the
Companies Act 2(K16 other than any requirement thal the financial statements 8ive a true and fair view,
which is not a matter considered as part of an independent examination,. or
the financial statements have not been prepared in accordance with the methods and principles of the
Statement of Recommended Practice for accounting and Teporting by charities applicable to charities
preparin8 their financial statements in accordance with the Financial Reporting Standard applicable in
the UK and Republic of Ireland IFRS 1021.
I have no concern5 and have come across no other matters in connertion with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the financial
statements lo be reached.
lan Thornpson BAIHonsl, FCA
Unit 7B Lakeland Busine55 Park
Lamplugh Road
Cockermouth
Cumbria
CA13 OQT
17 March 2026

LAKELAND ROWING CLUB
STATEMEKf OF FINANCIAL AcnviTIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
Unrestrfrted Restrlcted
fvnds
fufids
2025
2025
Total Unre5trfcted Restrirted
funds
funds
2024
20Z4
Total
2025
2024
Notes
Income from:
Donations and
legacies
Charitable activities
Investments
450
23,348
629
13,874
14.324
23.348
629
310
10.671
202
21,997
22,307
10,671
202
Total Income
24,427
13,874
38,301
11.183
21,997
33,180
Expendlture on:
Charitable activities
27,484
2,759
30.243
18,817
3,489
22,306
Total expendlture
27,484
2.759
30.243
18.817
3,489
22.306
Net Incomellexpendlture)
13.0571
11.115
8.OS8
17,6341
18,508
10,874
Transfers between
funds
16.lJXII
N•t movement In
lunds
2,943
5.115
8.058
17,6341
18,508
10,874
Retondllatlon of funds:
Fund balances at l January
2025
59.133
18,508
77,641
66,767
66,767
Fund balances at 31
December 2025
62.076
23.623
85.699
59,133
18,508
77,641
The statement of financial activities includes all gains and losses recognised in the year. All income and
expenditure derive from continuing actNities.

LAKELAND ROWING CLUB
BALANCE SHEET
AS AT 31 DECEMBER 2025
2025
2024
Notes
Flxed assets
Tan8ible assets
12
60.286
49,411
Current assets
Debtors
Cash at bank and in hand
13
2,924
23,449
9,488
19,042
26.373
28,530
Cfedltors: amounts falllnl due withln
one year
14
19601
13CQI
Net current assets
25,413
28,230
Totsl assets less current Ilablliti•s
85,699
77,641
The funds of the club
Restricted income funds
Unrestricted funds
15
16
23.623
62.076
18,508
59,133
85,699
77,641
The company is entitled to the exemplion from the audit requirement contained in section 477 of the
Companies Act 2006, for the year ended 31 December 2025.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act
2iJ16 with respert to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in
question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies
subject to the small companies regime.
The financial statements were approved by the directors on 17 March 2026.
J A Mccumiskey
Dlrector

LAKELAND ROWING CLUB
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 310ECEMBER 2025
Accountlng pollcies
Charlty Infomi3tlon
Lakeland Rowing Club is a private company limited by guarantee incorporated in England and Wales.
The registered office is Bridge End Farm. Ullock. Workington, CA14 4TP.
1.1 Basls of preparatlon
The financial statements have been prepared in accordance with the club's governing document, the
Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of
Ireland. and the Charities SORP "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 IFRS 1021" The club is a Public Benefit Entity as
defined by FRS 102.
The club has taken advantage of ihe provisions in the SORP for charities not to prepare a statement of
cash flows.
The financial statements are prepared in sterling, which is the functional currency of the club.
Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical c05t convention. The principal
accountin8 policies adopted are set out below.
1.2 Golni con¢em
At the time of approving the financial statements. the directors have a reasonable expectation that the
club has adequate resources to continue in operational existence for the foreseeable future. Thu5 the
directors continue to adopt the going concern basis of accounting in preparin8 the financial
statements.
1.3 Char5tsble funds
Unrestricted fund5 are available for use at the discretion of the directors in furtherance of their
charitable objectives.
Designated funds are unrestricted funds eamiarked by the direttor5 for particular future project or
commltment.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used.
The purpose5 and uses of the restrbcted funds a￿ set out in the notes to the financial statements.
1.4 Income
Income is recognised when the club is legally entitled to it after any perforniance conditions have been
met, the amounts can be measured reliably. and it is probable that income will be received.

LAKELAND ROWING CLUB
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 310ECEMBER 2025
A(countlng policles
Cash donations are recognised on receipt. Other donations are recognised once the club has been
notified of the donation. unless performance conditions require deferral of the amount. Income tax
recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the
tlme of the donation.
Legacies are recognised on receipt or otherwise if the club has been notified of an impendin8
distribution, the amount Is known, and receipt is expected. If the amount is not known, the legacy is
treated as a contin8ent asset.
Income from donated goods is measured at the fair value of the 8oods unle55 this is impractical to
measure reliably, in which case the value is derived from the cost to the donor or the estimated resale
value. Donated facilities and services are reco8nised in the accounts when received if the value can be
reliably measured. No amounts are included for the contribution of general volunteers.
1.5 Expendlture
Expenditure is reco8nised once there is a legal or constructive obli8ation to transfer economic benefit
to a third party, it is probable that a transfer of economic benefits will be required in settlement, and
the amount of the obligation can be measured reliably.
Expendilure is classified by activity. The costs of e•ch actNity are made up of the total of direct costs
and shared costs, including support cost5 involved in undertakin8 each activity. Direct COSts attributable
to a single activity are allocaled directly to that activity. Shared costs which contribute to more than
one activity and support costs which are not attributable to a single activity are apportioned between
those activities on a basis conslstent with the use of resources. Central Siaff costs are allocated on the
basi5 of time spent, and depreciation charges are allocated on the portion of the asset's use.
1.6 Tanilble flxed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net
of depreciation and any impairment losses.
Depreciation is recognised so a5 to write off the cost or valuation of assets less their residual values
over their useful lives on the following bases..
Plant and equipment
IO% straight line
The gain or1055 arising on the disposal of an asset is determined as the difference between the sale
proceeds and the carryin8 value of the asset. and 15 recognised in the statement of financial activities.
1.7 lrnpalmlent of fixed assets
At each reporting end date. the club reviews the carrying amounts of its tangible assets to determine
whether there is any indication that those assets have suffered an impairment loss. If any such
indication exists, the recoverable amount of the asset is estimated in order to determine the extent of
the impairment loss lif any).

LAKELAND ROWING CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 310ECEMBER 2025
Accounting policies
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term
liquid investments with original maturities of three months Of less, and bank overdrafts. Bank
overdrafts are shown within borrowings in current liabilities.
1.9 Flnanclal Instruments
The club has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12
'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the club's balance sheet when the club becomes party to the
contrartual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements.
when there is a legally enforceable right to set off the recognised amounts and there is an intention to
settle on a net basis or to realise the asset and settle the liability simultaneously.
Baslc Ilnanclal assets
Basic financial asset5, which include debtors and cash and bank balances. are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the
effective interest method unless the arrangement constitutes a financing transaction, where the
transaction is measured at the present value of the future receipts discounted at a market rate ol
interest. Financial asset5 classified a5 receivable within one year are not amortised.
Baslc financlal1Sabllltles
Basic financial liabilitie5, including creditor5 and bank loans are initially reco8ni5ed at transaction price
unless the arrangement constitutes a financing transaction, where the debt instrument is measured at
the present value of the future payments discounted at a market rate of interest. Financial liabilities
classified as payable within one year are not amort15ed.
Debt instruments are subsequently carried at amortised cost. using the effectNe interest rate method.
Trade creditors are obligations to pay for 8oods or services that have been acquired in the ordinary
course of operation5 from supplier5. Amounts payable are classified a5 current liabilities if payment IS
due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are
recognised initially at transaction price and subsequently measured at amortised cost Using the
effective interest method.
Derecognition of financial liab•lities
Financial liabilities are derecognised when the club's contractual obligations expire or are discharged or
cancelled.

LAKELAND ROWING CLUB
NOTES TO THE FINANCIAL STATEMENTS ICONnNUED}
FOR THE YEAR ENDED 31 DECEMBER 2025
Crftlcal accounting estimates and ludgements
In the application of the club's accounting policies. the director5 are required to make judgements.
estimates and assumption5 about the carrying amount of assets and liabilities that are not readily
apparent from other source5. The estimates and associated assumptions are based on historical
experience and other factors that are considered to be relevant. Actual results may differ from these
estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only
that period, or in the period of the revision and future periods where the revision affects both current
and future periods.
Income from donatlons and legacles
Unrestrlrted Restrlrted
fund5
funds
2025
2025
Total Unrestrlrted Restrlcted
funds
funds
2024
2024
Totsl
2025
2024
Donations and gifts
Grants
450
6.450
7,874
310
310
21,997
7.874
21,997
450
13.874
14,324
310
21.997
22,307
Income from charltable attSvltles
Unrestrlcted Unrestrlcted
funds
funds
2025
2024
Rowing club
Memberships, sale5 and racing fees
23,348
10,671

LAKELAND ROWING CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Income from investments
Unrestricted Unrestricted
funds
funds
2025
2024
Interest receivable
629
202
Empendlture on charitable actl¥ltOes
RowSng club Rowlng club
202S
2024
Dlrect costs
Depreciation and impairment
Purchases
Rent
Repairs and maintenance
Insurance
IProfitl/loss on disposal of fixed assets
12,685
9,227
10,470
5,752
6C(I
1,894
2,661
3,631
3,159
li.(M)01
28,302
21,377
Sh•re of support and governance costs (see note 71
Support
1,941
929
30,243
22,306
Analysls by fund
Unrestricted funds
Restricted funds
27,484
2,759
18,817
3,489
30,243
22.306
10-

LAKELAND ROWING CLUB
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Support costs allocated to activities
2025
2024
Other office costs
1,941
929
Analysed between:
Rowing club
1,941
929
Net movement in fvnds
2025
2024
The net movement in funds is stated after chargin￿{Creditingl-
Fees payable for the independent examination of the charity's financial
Statements
Depreciation of owned tangible fixed assets
540
12,685
260
10,470
Dlrertors
None of the directors lor any persons connected with them) received any remuneration or benefits, or
had any expenses ￿1MbUrSed from the club during the year.
10 Employees
The average monthly number of employees during the year was..
2025
Number
2024
Number
Total
There were no employees whose annual remuneration was more than £60.LKKI.
11 Taxation
The charity is exempt from taxatK)n on its activities because all its income is applied for charitable
purposes.

LAKELAND ROWING CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
12 Tanilble fixed assets
ant and
equlpment
Al l January 2025
Additions
Disposals
106,840
24,160
I1,5￿}
At 31 December 2025
129,5(KJ
Depreclatlon and lrnpalrnlent
At l January 2025
Depreciation charged in the year
Eliminated in respect of disposals
57,429
12,685
19(M)I
At 31 December 2025
69,214
Carrylng amount
At 31 December 2025
60,286
Al 31 December 2024
49,411
13 Debtors
2025
2024
Amounts fall1￿ due wlthln ont year:
Prepayments and accrued income
2,924
9,488
14 Creditors: amounts falllng due withln one year
2025
2024
Accruals and deferred income
960
3CM)
12-

LAKELAND ROWING CLUB
NOTES TO THE FINANCIAL sfATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2025
15 Restrfcted funds
The restricted funds of the charity comprise the unexpended balances of donation5 and grants held on
trust subject to specific condition5 by donors as to how they may be used.
At l January
2025
Incomln8
resource5
Resources
expended
Transfers
At31
December
2025
Rowing foundation
equipment grant
Donation for Filippi boat
18,508
7,874
12,7591
23,623
16,(KL)I
I8.￿)8
13.874
12.7591
16,C#J)I
23,623
Prevlous year:
At l January
Incornini
Resource$
2024 resources empended
Transfers
At31
Dettmber
2024
Rowing foundation
equipment 8rant
21.997
13.4891
18,508
The transfer from restricted fund5 to general funds relates to a donation for a new boat, which has
been transferred to unrestricted funds after it was spent on the capilal asset for which it was intended.
13-

LAKELAND ROWING CLUB
NOTES TO THE FINANCIAL sfATEMEKfs (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
16 Unrestrlcted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which
are not subject to specific condilions by donor5 and grantors as to how they may be used. These
include designated funds which have been set aside out of unre5trided funds by the trustees for
specific purposes.
At l January
Incoming
2025 resources
Resources
expended
Transfers
At31
December
2025
John Inman Fund
General funds
630
58.503
630
61,446
24,427
127,4841
59,133
24.427
127,4841
62,076
Pr•¥lous year:
At l January
2024
Incomiry Re51)urce5
resources
expended
Transfers
At31
December
2024
john Inman Fund
General funds
11701
118,6471
630
58,503
66.767
11,183
18(M)I
66.767
11,183
118.817)
59,133
17 Analysls ol net assets between funds
Unrestricted
funds
2025
Restrirted
funds
2025
Total
2025
At 31 December 2025:
Tangible assets
Current assetsllliabilitiesl
36,663
25.413
23.623
60,286
25,413
62,076
23,623
85,699
14-

LAKELAND ROWING CLUB
NOTE5 TO THE FINANCIAL STATEMEpifs (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
17 Analy515 of net assets between funds
Unrertrfrted
funds
2024
Restrlcted
funds
2024
Total
2024
At 31 December 2024:
Tangible assets
Current assetsllliablliliesl
39,704
19,429
9,707
8,801
49,411
28,230
59,133
18,508
77.641
IB Related party transartlons
The club's trustees are all members of the rowing club and pay annual membership fees at the
Standard rate.
15-

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