THE CANTERBURY PILGRIMS BOAT CLUB CharEtab]e Incorporated (hgdnisation Re& lio. l L75543 Trustees, Report and Annual Accounts for the year ended 31st December 2024 Page l of 14 The Canterbury Pl1]m8 Boat Club
THE C4NfERBURY PILGRIMS BOAT CLUB ChaIitable IneoTrorated Organi%atioll Reg. No. 1175543 Contsnts Page Legal and Administrdtive infornmtion TTUStees' rq)ort Statement of financial activities Balance sheet Notes 10-14 Page 2 of 14 The Canterbury Pilgrims Boat Club
THE CAKfERBURY PILGRIMS BOAT CLUB Charitable Incorpornted Organisaiion Re& No. 1175543 Legal and Adminlstratlve Inforniatlon Charitable Incorporated Organisation Name The Cantekbury Pilgriti)s Boat Club Charity Registration Number 1175543 Reglstered and Operating Address The GraDge Long Wittenh4m Ablngdon Oxfordshtre OX14 4QH Trustees Alastair Brown (Retlred 2nd re-clted} Angus Forbes Ben Loxton-Edivards Ed Thonvas Vkky Spencer IRetlred and re-elected) Ewan Pearson Nigel Press (Rellred rfrelected) Andrew Rmdkin Mlnvdgement Committee Alastair Brown (Hon. TreaSur) Ben Loxton-Edwards (Chair) Ewan Pearson (Investments) Freddie Allinson (Membership Secretary) Nigel Press (Westbere Development) Tom Wingfield (Captain of Boats) Angus FO¢$ (Hon. Secretary) Andrew Rudkin (Membership Secretary) Jon Williamson (Director of Rowing, The King's School Canterbury Boat Club) Water Safety Advisoi (Helena Barton) Welfare Officer BaDker5 Lloyd5 Bank plc 40 Higb Str¢¢t Canterbury CTI 2SE Cl]aTities Aid Foundation 25 Kings Hill Avenue West Malling ME19 4TA Page 3 of 14 The Canterbury PilgtiLrA8 Boat Club
THE CAERBURy PILGRtMS BOAT CLUB Charitable InCoOrated 1Trgnisation Re& No. 1175543 Report of the Trustees Structur4 Governanee & Management The charity was frst estab]ished as an unincorporated association in 1946 and was registered as a Charitable InCOOrated OTganisation (CIO) on 3rd November 2017. The power to appoint new Ttustees is vested in the MeMbehIp of the CIO. One third of t existing Trustees retiTes at each Annual General Meeting and may seek re-election. The day-towday operations of the charity delegated by the Trustees to a Management Committ¢¢ whos¢ memberg consist of a Chair, the Hon. Treasu. the Hon. Secretary. the Director ofRowing at The King's SchooL Canterbury ('%be school.). the Water SafetyAdvisor. the Welfare Officer. and not more than six other paid up members of the CIO all of whom are elected by tl Menthehlp of the CIO at an Annual Generdl Meeting for a peTiod not exceeding flve yeaT5' th a eli1¢ forreappointment. The Management Committee also comprises the Captains of Boats of the school Boat Club ay officio. New Trustees are infonned of their duties and responsibilities as Trnstees and a full explanation of the charity's activities and management of its assets is given. New TDJ5tees are recrnited from among fornjer members of tbe school who will probabty have rowed for the school at some time, and from among Other persons who seek to promote the objects of th¢ CIO. Objects & Acdvttles The objects of the CIO are primarily "to advance the physical education for the public benefit of students of all abilities at The King's SchooL Canterbury by participation in tb¢ sport of Towing through the provision of facilities, equipment, fmancial and other support" We work closely with the Director of Rowing and the Captains of Boats of the school Boat Club in the provision and maintenance of equipment. principally racing boats; f]nancial support of coaching and training caiijps. and advice and support where and whenever appTopriat¢. The main aim of our activities is to ensure that the school Boat Club is enabled to participate in competitive rowing. The Trustees have taken into account Charity Commission guidance on the publi¢ benefit of tj charity's activities: admission to the school is open to any individual who meets admission criteria set by the school from time to time. and the sport of Towing at the school is open to any student to pursue. It has b¢¢n r¢cognis¢d anecdotally that D)wing instils a sense of discipline and commitrnenl probably gter than any other team sport: these qualities can be carried into an individual's professional life and for the benefit of society at large. Page 4 of 14 The Cantertlury PilglMS Boat Club
THE CANTERBURY PILGRtMS BOAT CLUB Charitable IncoOted OnisatIOn Re& No. 1175543 Report of the Trustees - continued All the activities of the Twstees and nMberS of the Management Committ¢e are conducted on a voluntary b&sis. Achievements and Performance kn 2024 Activities this year included a small amount of fundraising both for re5tticted and unrestrict funds. In addition, we engaged with the school and discugsed the recruitment of a new Director of Rowing. This involved reiterating tbe importance of recruiting the highest quality candidate to build on Mr Williamson's legacy and secure the future of rowing at King's. The Pilgrin]s co-hosted a well attending lunch at Henley Royal Regatta. We gave thanks to Mr Williamson for his excellent setvice to KSCBC and we welcomed Mr Reiser. The wider Pilgrin donated 27 Henley Stewards, Badges which were distributed Éo parents and pupils. A group of 7 Pilgrims took part in the 4th Pilgrfftms Sportive (April 2024), this is an annual cycle from Putney to Canlerbury. Financial Review This year our unrestricted income and expenditure was greater than last year. This was due to increased participaiion iti our sun]rner event at Henley Royal Regatta. The main source of unrestricted income is membership donalions. There are some 85 regularly paid-up m¢mber&' this amounted to £1,494. We continue to seek donations and legacies. As of 3 1st December 2024. our westriCted serveS amount to £40,894. an increase of £1304. This increase was chiefly account¢d for by the aforementiotNI donations and revaluation of investments r¢sulting in a capital gain of £537. As of 3 1st December 2024. our restricted re8CeS amount to £51.044 an increase of £1.869 ovct th¢ previous year. The increase in value results from investment income of £735, donatiODS of £537 and revaluation of itivestments with a pital gain of £596. Gift aid kms not been claimed on income for this year. This will be claimed in future. As of 3 1st December 2024, our total reserves amounted to £91,938. Page 5 of 14 The Canterbury Pilgrims Boat Club
THE CANfERBURY PILG]UMS BOAT CLUB Charitabk InCOoted Organk%atk)n Reg. No. 1175543 Reserves and Investment Pollcy Our reserves policy is to ensure that we have sufficieni liquid funds to meet our ongoing activities with a small surplus where posSile. Ourreserves as at 3 1st December 2024 were adequateto meet our continuing support for the school Boat Club over the course of the following fmancial year. We do not employ staff nor have any commitllnts beyond those already noted in these f]nan¢ial staterrtents, so we do not consider that we need to keep free reserves beyond a milli level to fund inllnediate requirenntS. We have agreed that we are now holding too much cash at tbe bank, we have agreed tbat majority should be invested to leave 2-3 years worth of expenses in cash. Our cutrent investment policy is to build up a level of investments over time so that th¢ income generated from those investments will be sufficient to fund our normal activities. Our CUllt investment strategy is to invest on a total turn basis by placing funds solety with CCLA in their COIF Charities Investment Fund. This strategy has been agreed by the Trustees after consideration of other investment managers and funds. The aim of this CCLA fund 15 to achieve a positive long-term retum, comprising both growth in capital and distributions from a diversified portfolio whi¢h is invested in overseas and UK equities, with the balance in infrdStnLCture, contra¢tual income, Cash, property, red interest, private equity and other alternative investments that meet ow crit7&. Page 6 of 14 The Canterbury Pl1]m5 Boat Club
THE CANtERBURY PILGRIMS BOAT CLUB CFLaritabk Inco0[ared (Wllisatioll Re&No. 1175543 Statement of Trustees, Responsibilities The Charities Act 2011 requires the Trustees to prepare f]nancial statements for each fllwicial year which give a true and fair view of the state of affaits of the chaTity and of the surylus or def1t fc that period. In preparing those fjnancial statements, thc Trustees ate required to.. sekct suitable accounting poItcies and then apply them consistently. make judgements and estin]ales that are reasonable and pnent. compty with applicable accounting standards Subject to any material depart[eS disclos81 and explain¢d in the flllanciai StatntS. and wb¢th¢r the fmancial stat¢ments have been prq)ared in accordance with the Charitie5 SORP. and prepare the fmancial staten]ents on the going Concern basis unless it is inappropriate to ptesum¢ that the Clwity will continu¢ in op¢ration. The Trnstees are responsible for: keeping proper accounting records which disclose with reasonable accurdcy at any time the financial position of the chality" and safeguarding the assets of the charity and hence for taking reasonable st¢ps for th¢ prevention and detection of frdud and other irregularities. Approved by the board of Trnstees on 2211012025 and signed on tis behalf.. Ben Loxton-Edwards Tstee & Chair Page 7 of 14 The Canterbury Pilgrims Boat Club
THE CERBuRy PILCRIMS BOAT CLUB Charitable IncOOI8t¢d (ga]SatIOn Re No. 1175543 Statement of Financial Activities for the year ended 31st December. 2024 Notes 2024 2023 Restrlcted Total Funds Funds (£) 537 2,478 0.00 735 Incomlngand endowments from: Donatlons and legacies Charitable activities Investments Other Unrnstrlcted Funds 2,091 0.00 466 Total Funds (£) 2.629 269 250 1.626 1,272 2,898 2,728 Expenditure on: Raisin8 funds Charitable activities Other 858 858 404 858 858 404 Net In¢ome/(expenditure) Transfers between funds Other recogni5ed 8ains/(lossesl: Gains/llossesl on investment assets Net movement in funds Total funds brought forward Total funds carried forward 767 1,272 2,040 2,324 537 596 1.869 1,133 3.173 939 3,263 1,304 88,765 91,938 18 40.894 51.044 88,765 Page 8 of 14 The CantcUry Pllgrims Boat Club
THE CANfERBURY PILGRIMS BOAT CLUB Charitabl¢ In¢otpoTat¢d Organisation R¢& No. 1175543 Balance Sheet as at 31 st December, 2024 Notes 2024 2023 Flxed Assets Tangible Assets Investments Total Flxed Assets Currant Assets Merchandise Debtors Cash atBank& in Hand Total Current Ass8ts Current Llabllltles Sundry Creditors Net Current Assets Total Assets 10 11 58062 58056 58,063 58,057 1784 1784 13 14 32091 28924 33,875 30,708 15 33,875 91.938 30,708 88.765 16 Represented by: Unrestricted Funds Restricted Funds Total Funds 17 40894 51044 39590 49175 91,938 88,765 The financial statements were approved by the board ofTrustees on 2211012025 and wer¢ signol on its beha]f by: Ben Loxton-Edwards Trnste£ & Cbair The notes on pages 10 to 14 fonn part of these fmancial statements. Page 9 of 14 The Canterbury Pilgrims Boat Club
ThE cArERBURy PILGRIMS BOAT CLUB Charitable Ineoryornted CkgAnisaiioD R¢& No. 1175543 Notes to the Financial Statements for the year ended 31$1 December 21124 l. Accounting Policies The following a¢¢ounting policies have been applied consist¢ntly in dealing with items which are (Insidered mterial in relation to the financial slatements. (a) Basis of preparation The financial statements have been prepared underthe historical cost convention and in accordance with the Financial Reporting Standard for Small¢r Entities (effective I St January 2015) (b) Grants recelvable Grants are recognised on an aceruals basis, accounted for in relation to tbe period that they relate. Where Brants have been received for capital items, the total all¢ has been dis¢losed In the SOFA and depreciation, in accordance with the accounting policies, has been charged against that income over the estimated useful economic life of the asset. Where grants are CeiVed dwing the year under review but relate to a later p10d the amount is deferred under D¢f¢rr¢d Incom¢ iu the Balance Sheet. {c) Expenditure Resources ¢xpended are recognised in the period in which they are incutred. R¢sources expended include attnbutable V A T which cannot be recovered. Resources expended are allocated to the parti¢ulRr activity where the cost relates directly to that activity. (d) Depreciation Depreciation is provided on all tangible fixed assets at rates calculated to writ¢ off the cost less ¢stintea r¢sidual value on a straight line basis over their estimated useful lives as follows: Equipment: I/0 per atinuui with a of £1. (e) Fund Accounting The accounts distinguish between restricted and unrestricted funds. The fOrtt have been raised by the charity for specific pUrpoS or are received from donots and are subject to restrictions ou the puwoses for which they May be used. Unrestri¢ted funds are those where there ar¢ no externally irnposed restrictions and are available for use at the discretion of the Trustees for expenditure on its objects or apppILated to [c¢S for intemally designated purposes. (r) Investments Investments are stated al purchase price and then ralUed at mid-market price at the fman¢ial year ended 31 Dec¢rnber 2024 stat¢ments issued by CCLA. Page 10 of 14 The Cantelbury Pl1[mS Boat Club
THE CANTERBURY PtLGIUMS BOAT CLUB Charitable IncoEpornted Ooalaisation Reg No. 1175543 Notes to the Financial Statements for the Year ended 3 1st December 2024 - continued 2024 (£) 2023 £ Unrestritted Restrieted Totsl Donatlons and legacies Donations HMRC Gift Aid 2.091 537 2.629 1.807 670.41 2.478 2,091 537 2.629 Charitable aetiiTrtie5 Sales of merchalldise Book sales Investment Income Income from Investments less.. Debenture amortisation 661 -1,127 466 735 1,396 -1,127 269 1.377 -1.127 250 735 Other fincom¢ LRC Dinner receip Sundry Raisin2 fund5 Cosl of KSCBC History Charit&ble actlTr4des Grants Depreciation Westbere Lakes Other expendlture Public Itabiliry insurAnce British Rowing affiliation Henley Catrring / Badges Cost of postage of stock 108 300 450 108 300 450 201 204 858 858 404 Nat Incomlng Resources for the Year Depreciab'on 2024 2023 No Truste8 recerved any emoluments in the year {2024'. £Nil) No Trustee reGeNed any expénses in year (2024.. £Nil) Page 11 of 14 The Cantert)ury Pilg11n Boat Club
THE CANfERBURY PILGIUMS BOAT CLUB Chaiitabk In¢orpordted Organi4ation Re8. No. 1175543 Notes to the Financial Ststsments for the Year ended 31st Dvember 2024- continued 10 Tanglblo Flxad Assets Cost At 1st January 2024 Additions At 31st DeceM1r 2024 Depreclatlon At 1st January 2024 Charge for the year At 31st December 2024 Not Book Value At 31st December 2024 At 1st January 2024 11 Fixed Asset Investments Market value as at 1st January 2024 Plus-. Additions Plus.. Reinvestment$ Plus.. GainllLoss) on revaluation Less.. Sales Less: Amortisation Market valuo at end of yoar 1133 1127 58,062 12 Merchandlse Value at beginning of year Plus.. AddOnS Less: Sales Total Merchandise is valued at cost 1.784 1,784 13 Debtors HMRC Gift Ahl Rec8lvabl8 Total Unrestricted Restrlcted Total Page 12 of 14 The Cantetbury Pl1]m5 Boat Club
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