THE CANTERBURY P]IRIMs BOAT CLUB Charitable In¢orpoTat¢d Organisation Reg. No. 1175543 Trustees, Report and Annual Accounts for the year ended 31 st December 2023 Page l of16 The Canterbury Pilgrims Boat Club
THE CANTERBURY PILCRIMS BOAT CLUB Charitable Incorporated Organisation Reg. No. 1175543 Contents Page Legal and Adn]inistrativ¢ inforniation Trustees, report Statement of financial activities Balance sheet Notes 10-14 Page 2 of 16 The Canterbury PIlgrin Boat Club
THE CANTERBURY PILGRIMS BOAT CLUB Charitable Incorporated Organisation Reg. No. 1175543 Legal and Administrative Information Charitable Ineoryorated Organisation Name The Canterbury Pilgrims Boat Club Charity Registration Number 1175543 Registered and Operatlng Address The Grange High Street Long Wittenham Abingdon OX14 4QH Trnstees Alastair Brown Angus Forbes Ben Loxton-Edwvdrds Ed Thomyds Vicky Spencer Ewan Pearson Nigel Press {Retired and re-elected) Andrew Rudkin (Retired and re-eleet¢d) Management Committ¢¢ Alastair Browtk (Hon. Treasurer) Ben Loxton-Edwards (Chair) Ewan Pearson {Inveslments) Freddie Allinson (Membership Secretary) Nigel Press {Westber¢ Development) Tom Wingfi¢ld (Captsin of Boats) Angus Forbes (Hon. Secretary) Andrew Rudkin (Membership Seuetary) Jon Willian]son (Director of Rowing, The King's School Canterbury Boat Club) Waler Safety Advisor (Helena Barton) Welfare Officer Bankers Lloyds Bank plc 40 High Street Canterbury CTI 2SE Charities Aid Foundation 25 Kings Hill Avenue West Malling ME19 4TA Page 3 of 16 The Canterbury Pilgrims Boat Club
THE CANTERBURY PILGRIMS BOAT CLUB Charitsble Incorporated Or8anisatÈon Reg. No. 1175543 Report of the Trustees Structure, Governance & Management The charity was fjrst established &8 an unincorporated association in 1946 and was registered as a ChaTitable InCoorated Oi¥anisalioD (CIO) on 3, November 2017. The power to appoint new Trust¢¢s is vested in the rnemb¢rship of the CIO. One third of the existing TnteeS retires at Annual General Meeting and may seek re-election. The day-to-day operations of the Charity are delegated by the Trustees to a Management Committee whose members consist of a Chair" the Hon. TrVrer. th¢ HOL Secretary. the Director of Rowing at The King's School, Cant¢rbury ("the school"); the Water Safety Advisor. the WelfaTe Offi¢er' and not more than six othcr paid up member8 of the CIO all of whom are elected by the membership of the CIO al an Annual General Meeting for a period not exceeding. five years; they are eligible for reappointment. The Management Commiitre also comprises the Captains of Boats of the school Boat Club ex officio. New Trustees arc informed of their duties and r¢sponsibilities as Trustees and a full explanation of the charity's activities and managiement of its assets is given. New Trusfres are recruited from among fornier members of the school who will probably have rowed for th¢ school at some time. and from among other persons who seck to promote the objects of the CIO. Objeets & Activities Th¢ objects of the CIO are primarily '*0 advance the physical education foT the public benefit of students of all abilities at The King's School, Cantcrbury by participation in the sport of rowing through the provision of facilities, equipmenL financial and other support" We work closely Mryth the Director of Rowing and the Captsins of Boats of the school Boat Club in the provision and maintenance of equipmenL principally racing boats. financial support of coaching and training catnps. 8nd advice and support wh¢r¢ and wh¢never appropriate. The main aim of our activiti¢s is to ¢nsure that the school Boat Club is enabled to participate in competitive rowfftng. The TTUStees have taken into account Charity Commission guidance on the public benefit of the charity's activities: admission to the school is open lo any individual who m¢¢ts admission criteria set by the school from time to time, and the sport of rowing at the school is open to any student to pursue. It has been recognised anecdotally that rowing instils a sense of discipline and ornmitmeDt probably greater than any other team sport: these qualities can be carried into an individual's professional life and for the benefit of society at larg¢. Page 4 of 16 The Canterbury Pilgrims Boat Club
THF. CANTERBURY PILGRIMS BOAT CLUB Charitable Incorporated thbianisaiion Reg. No. 1175543 Report of the Trustees - continued All the activities of the Trustees and members of the Management Committee are COndted on a voluntary basis. Achievements and Performanee in 2023 Activities this year included a small amount of fundrdising both for restricted alld UDrestricÉed. Addltionally we claimed historic gift aid on some scholarship fund fimdraising. A group of 9 Pilgrims took part in the Pilgrims Sportive (April 2023), this is an annua[ cycle from Putney to Callterbury. Financial Review This year our unrestricted income and expenditure was less than last year. There w¢re no major purchases The main source of unrestricted income is membership donations from some 85 paid- up members" this a[nOunt to £1,459. We Continue to seek donations and l¢ga¢i¢s. As at 31 December 2023. our unrestrirt¢d reserves amount to £39,590, an incre&sc of £1276. This increase was chiefly accounted for by the aforementioned donations as well as increase in the valuation of investments by £444.85. As at 31, December 2023, ow Testricted reserves amount to £49175 an increase of £1,987 over the previous year, the rnajority of this is accounted investment income of £724.85 and increase of investment valualion of £494.27. Gift aid has not been claimed on income for this year. Thts will be claimed in future. As at 31, December 2023, our total reserves amounted to £88,765. Page S of16 The CarÈterbury Pilgrims Boat Club
THE CANTERBURY PILGIUMS BOAT CLUB Charitable Incorporated Organisation Reg. No. 1175543 Reserves and Inveslment Policy Our reserves policy is to ensu that we have sufficient liquid funds to meet our ongoing activities with a small surplus where possible. Our reserves as at 31 st December 2023 were adequat¢ to meet ow conttnuing support for the school Boat Club over the course of the following fUqnCIal year. We do not employ staff nor have any commitments bcyond those already noted in these financial statements, so we do not consider that we need to keep fr¢¢ reserves beyond a minimum level to fund immediate requirements. Our current investment policy is to build up a level of investments over time so that the income generated from those investments will be sufficient to fund our nonnal activities. Our current investment strat¢gy is to invest on a lotal return basis by placing funds solely with CCLA in their COIF Charities Investment Fund. This strategy has been agreed by the Trustees after considerdtioll of oih¢r investment tnanagers and funds. The aim of this CCLA fund is to achieve a wsitive long-tern] return, comprising both growth in capital and distributions from a dtv¢rsified portfolio which is inv¢sted in overscas and UK equities, with th¢ balance in infrastructure, contractual income, cash, property, fixed int¢r¢sL private equity and other alternative investments that meet our criteria. Page 6 of16 The Cantetbury Pilgrims Boat Club
THE CANTERBURY PILC.RIMS BOAT CLUB Charitable Incorporated Organisation Reg. No. 1175543 Statement of Trustees, Responsibilities The Charities Act 2011 requires the Trustees to prepare financial statements for each financial y¢aT which give a tru¢ and fair view of the state of affairs of the charity and of the surplus or deficit for that period. In preparAng those financial statements, the Truste¢s ar¢ required to: select suitable accounting policies and then apply them consistently. make judgements and estimates that are reason<ible and prudent. comply with applicable acLOiUlting standards subject to any material departLeS disclos¢d and explained in the fmancial statcnients. and whether the financial statements have ken prepared in accordance with the Chariti¢s SORP; and prepare the financial statements on th¢ going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees arc r¢s)nsIble for: keeping proper accowiting records which disclose with reasonable accuracy at any time the financial position of the charity; Ld safeguarding the assets of the charity and hence for taking r¢&gonable steps for the prevention and d¢tection of fraud and other irregularities. Appmved by the board of Trustees on DAI"F. APPROVED and signed on its behalf: Ben Loxton-Edwards Trustee & Chair Page 7 of16 The Canterbury Pilgrims Boat Club
THE CANTERBURY PILGRIMS BOAT CLUB Charitsble Incorporated Organisation Reg. No. 1175543 Statement of Financial Activities for the year ended 31st December, 2023 Notes 2023 Total Unrestrictsd Restricted Funds Funds Fund3 1,710 767 0.00 0.00 475 725 Incomlng and endowments from: Donations and legacies Charitable activities Investments Other Totsl Funds (£) 6,830 (£ 2,478 250 245 1,236 1,492 2,728 7,075 Expenditure on: Raising funds Charitable activities Other 404 404 404 297 404 297 Net Income/lexpendlture) Transfers between funds Other recognised galns/(losses): Gains/llosses) on investment assets Net movement in fvnd5 831 1,492 2,324 6,777 11 445 1,276 494 939 1,987 3,263 -2.763 4,015 Total funds brought forward Total funds carried forward 38,314 39,590 47,188 85 502 49,175 88,765 16 85,502 Page 8 of 16 The Canterbury Pilgrims Boat Club
THE CANTERBURY PILGRIMS BOAT CLUB Charitable Incorporated Organisation Reg. No. 1175543 Balance Sheet as at 31st December, 2023 Notes 2023 2022 Fixed Assets Tangible Assets Investments Totsl Fixed Assets Current Assets Merchandise Debtors Cash at Bank & in Hand Total Current Assets Current Liabilities Sundry Creditors Net Current Assets Totsl Assets 10 11 58056 58,244 58.057 58,245 12 13 14 1784 1,784 28924 25,473 30,708 27,258 15 30,708 88,765 27,258 85.502 16 Represented by: Unrestricted Funds Restricted Funds Total Funds 17 39590 49175 38,314 47,188 88,765 85,502 Page 9 of 16 The Canterbury Pilgrims Boat Club
THE CANTERBURY PILGRIMS BOAT CLUB Charitable Incorporated Organisation Reg. No. 1175543 The fu]ancial statements wcre approved by the board of TnteeS on DATE OF APPROV AL and were signed on its behalf by: i?//. Ben Loxton-Edwards TnLStee & Chair The notes on pages 10 to 14 fotm part ot these financial statements. Page 10 of 16 Th¢ Canterbury Pilgrims Boat Club
THE CANTERBUR Y PILGRIMS BOAT CLUB Charitable In¢orpDrdt¢d Organisaiion Reg. No. 1175543 Notes to the Financial Statements for the year ended 31 $t December 2023 l. Accounting Policies The following accounting policies have been applied consistently in dealing with items which are considered material in relalion to ihe financial statements. {a) Basis of preparation The financial statements have been prepared under the historical cost convention and in accordance with the Financial RertIng Standard for Smaller Entities (eff¢ctive I, January 2015) (b) Grants receivable Grants are rccognis¢d on an accruals b&sis, accounted for in relation to the period that they relate. Wherc granL8 have bccn rec¢iv¢d for capital items, the tolal grant has been disclosed in Lhe SOFA and depreciation. in accordance with the accounting policies, has be¢n charged against that income over the estimated useful economic life of the asset. Where grants are received during the year under review but r¢lat¢ to a lateT period the amount is d¢f¢rred under Deferred Income in the Balance sheet. (c) Expenditure Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered. Resources expcnded are allocated to th¢ particular activity where the cost relates directly to that activity. (d) Depreciation Depreciation is provided on all thngible fixed assets at rates calculated to write off the cost less estimated residual value on a straight line basis over theiT estimated useful lives as foLIows: Equipment: IOlJ/o per annum with a minimum of £1. (e) Fund Accounting The accounts distinguish between restiicted and unTestricted funds. The fonner have been raised by the charity for specific purposes OT are Teceived from donors and are subject to restrictions on Ihe purposes for which they may be used. Unrestrictcd funds are those where there are no externally imposed restrictions and are availabl¢ for us¢ at the discretion of the Trustees for expenditure on its objects or appropriated to reservcs for internally designated purpos¢s. (f) IVeStMentS Investments are stated at purch&s¢ price and then revalued at mid-market price at tbe financial year ended 31 December 2023 statements issued by CCLA. Page 11 of16 The Canterbury Pilgtims Boat Club
THE CANTERBURY PILGIUMS BOAT CLUB Charirable Incorpordted Organi5ation Reg. No. 1175543 Note5 to the Financial Statements for the Year ended 31. December 2023 - Continued 2023 (£) 2022 (£) Unrestricted Restricted Totsl Total 2 Donations and legacies Donations HMRC Gift Aid 1,710 97 1,807 670.41 670.41 767 2,478 6,830 1,710 3 Ch*ritable activities Sales of merchandise Book sales 4 Investment Ineome Income from Investments less: DentUre amortisation 652 -1,127 475 725 1.377 1.127 250 1,372 -1.127 245 725 5 Other ineome LRC Dinner receipt5 Sundry 6 Raising funiLs Cost of KSCBC History 7 Charitable activlÉles Grants Depreciation Westbere Lakes 8 Other expendilure Public liability insuranc¢ Britith Rowing affiliation Debeture Purchase Cost of postage of stock 201 204 201 204 ioi 404 297 9 Net Incoming Resources for the Year Depreciation 2023 2022 No Trustee received any emoluments in the year (2023.. £Nil) No Trustee received any expenses in the year (2023. £Nil} Page 12 of 16 The Cantetbury Pilgrims Boat Club
THE CANTERBURY PILGRIMS BOAT CLUB Charitable Incorporated Organisation Reg. No. 1175543 Notes to the Finaneial Statements for the Year ended 318¢ December 2023 - contillued 10 Tangible Fixod Assets Cost At 1st January 2023 Additions At 31 st Dember 2023 Depreciation At 1st January 2023 Charge for the year At 31 st Dember 2023 Net Book Value At 31st December 2023 At 1st January 2023 11 Fixed Asset Invèstments Market value as at 1 st January 2023 Plus: Additions Plus= Reinvestments Plus= Gainl(Loss) on revaluation Less.. Sales Less.. Amortisation Market value at end of year 58244 939 1127 58,056 12 Morchandise Value at beginning of year Plus.. Additions Less.. Sales Total Merchandise is valued at cost 1,784 1,784 13 Debtors HMRC Gift Aid Receivable Total Unrestricted Restricted Total Page 13 of 16 The Canterbury Pilgrin]s Boat Club
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