REGISTERED COMPANY NUMBER: CE014109 (England and Wales) REGISTERED CHARITY NUMBER: 1178400
Report of the Trustees and
Financial Statements for the Year Ended 31st August 2020
for Henley Rowing Club
Buffery & Co Ltd 2 West Street Henley On Thames Oxfordshire RG9 2DU
Henley Rowing Club
Contents of the Financial Statements for the Year Ended 31st August 2020
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Cash Flow Statement | 6 |
| Notes to the Cash Flow Statement | 7 |
| Notes to the Financial Statements | 8 to 14 |
| Detailed Statement of Financial Activities | 15 to 16 |
Henley Rowing Club (Registered number: CE014109)
Report of the Trustees
for the Year Ended 31st August 2020
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st August 2020. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES Objectives and aims
The Charity's objectives are:
The promotion of community participation in healthy recreation in particular by the provision of community participation in healthy recreation in particular by the provision of facilities for rowing, sculling and other sports (facilities means land, buildings, equipment and organizing sporting activities).
Providing and assisting in providing facilities for sport, recreation or other leisure time occupation of such persons who have need of 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 the conditions of life.
STRATEGIC REPORT
Achievement and performance
Charitable activities
Henley Rowing Club (HRC) is one of the oldest rowing clubs in the country, having been founded in 1839. It became a Charitable Incorporated Organisation on September 1,2018. HRC is a successful, community-focused club, open to all, based in Henley on Thames. The club's 350 members are aged from 13 to 90, with a wide range of ability and ambition. The junior section of the club, including both boys and girls, has been particularly successful over recent years at local, national and international levels (see www.henleyrowingclub.co.uk).
Club facilities include a wide range of boats for all levels of ability and a well-equipped gym, enabling year-round training for all members. Inclusivity is at the heart of the club's ethos and the club offers learn-to-row courses every year for junior and adult beginners, as well as facilitating rowing, sculling and land training for several local schools.
Recognising that for some people cost is a barrier to our sport, the Charity is committed to removing or reducing such barriers by generating income via means other than subscriptions and fees and by offering support through the Supporters Fund when appropriate.
HRC is an active supporter and member of British Rowing, and is run entirely by an enthusiastic team of volunteers.
Financial review
Financial position
The financial position of Henley Rowing Club remained strong through the Covid-19 environment of 2019-20 due to the commitment and strength of our membership and the continued income from membership fees. The Club also benefited from a Local Authority Covid grant. The Club's cash reserves were depleted in recent years, but the Club was on target to reach our target of £50,000 at the end of the 2019/20 season until the lockdown due to Covid.
The Club continues to invest in the fleet and rowing equipment, with the net value of the fleet increasing by £8700 after depreciation. This investment is part of a long term plan to ensure the quality of the fleet matches the quality of the coaching and athletes and allows the squads to achieve their potential.
The activities of our associated trading company, Henley Rowing Club Trading Limited, were restricted this year due to Covid-19. Activities usually include two head races, learn to row courses and a number of visiting athletes throughout the year, the majority of which were cancelled this year. Limited activity during the autumn and summer when Government lockdown provisions allowed, generated sufficient profit to allow a donation of £6,360 to be made to the Club in 2019-20.
Overall, the Club has seen the unrestricted funds increase by 21,800 during this year.
Page 1
Henley Rowing Club (Registered number: CE014109)
Report of the Trustees
for the Year Ended 31st August 2020
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Organisational structure
Club governance
The club is a volunteer led organisation managed by a committee consisting of the trustees elected by members and a Captain (non- trustee) also elected by members in accordance with the constitution and club bye-laws. Co-opted roles of Welfare, Membership and Safety also feed into the managing committee together with other ad hoc positions as required.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
CE014109 (England and Wales)
Registered Charity number 1178400
Registered office
Henley Rowing Club Wargrave Road Henley-on-Thames Oxfordshire RG9 3JD
Trustees
B Redman F D Goodwin H Turnell M Hall N E C Mead N Hillyer (resigned 17.1.20) L Clarke (appointed 30.7.20)
Company Secretary
M Hall
Independent Examiner
Mark Buffery FCA (ICAEW) Buffery & Co Ltd 2 West Street Henley On Thames Oxfordshire RG9 2DU
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 1st June 2021 and signed on the board's behalf by:
B Redman - Trustee
Page 2
Independent Examiner's Report to the Trustees of
Henley Rowing Club (Registered number: CE014109)
Independent examiner's report to the trustees of Henley Rowing Club ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st August 2020.
Responsibilities and basis of report
As the charity's trustees of the 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 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 2011 ('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 matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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.
Mark Buffery FCA (ICAEW) Buffery & Co Ltd 2 West Street Henley On Thames Oxfordshire RG9 2DU
1st June 2021
Page 3
Henley Rowing Club
Statement of Financial Activities
for the Year Ended 31st August 2020
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Charitable activities 4 Miscellaneous Other trading activities 3 Other income Total EXPENDITURE ON Raising funds Raising donations and legacies 5 Other trading activities 6 Charitable activities 7 Administration Facility Rowing Miscellaneous Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Year Ended 31.8.20 Unrestricted fund £ 9,964 25,000 161,582 950 197,496 508 45,965 46,473 48,525 - 72,756 7,918 175,672 21,824 1,019,355 1,041,179 |
Period 16.5.18 to 31.8.19 Total funds £ 94,012 - 161,543 10,595 266,150 75 63,621 63,696 31,432 33,463 2,250 68,678 199,519 66,631 952,724 1,019,355 |
|---|---|---|
The notes form part of these financial statements
Page 4
Henley Rowing Club (Registered number: CE014109)
Balance Sheet
31st August 2020
| Notes FIXED ASSETS Tangible assets 12 CURRENT ASSETS Stocks 13 Debtors 14 Cash at bank CREDITORS Amounts falling due within one year 15 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 17 Unrestricted funds TOTAL FUNDS |
31.8.20 Unrestricted fund £ 993,179 - 23,148 54,787 77,935 (29,935) 48,000 1,041,179 1,041,179 1,041,179 1,041,179 |
31.8.19 Total funds £ 982,514 320 850 67,569 68,739 (31,898) 36,841 1,019,355 1,019,355 1,019,355 1,019,355 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements were approved by the Board of Trustees and authorised for issue on 1st June 2021 and were signed on its behalf by:
B Redman - Trustee
The notes form part of these financial statements
Page 5
Henley Rowing Club
Cash Flow Statement
| for the Year Ended 31st August 2020 Year Ended 31.8.20 Notes £ Cash flows from operating activities Cash generated from operations 1 101,640 Net cash provided by operating activities 101,640 Cash flows from investing activities Purchase of tangible fixed assets (83,422) Sale of tangible fixed assets 950 Net cash used in investing activities (82,472) Cash flows from financing activities New loans in year 2,250 Loan repayments in year (15,000) Trading Company (19,200) Net cash (used in)/provided by financing activities (31,950) Change in cash and cash equivalents in the reporting period (12,782) Cash and cash equivalents at the beginning of the reporting period 67,569 Cash and cash equivalents at the end of the reporting period 54,787 |
Period 16.5.18 to 31.8.19 £ 182,756 182,756 (140,782) 10,595 (130,187) 15,000 - - 15,000 67,569 - 67,569 |
|---|---|
The notes form part of these financial statements
Page 6
Henley Rowing Club
Notes to the Cash Flow Statement
for the Year Ended 31st August 2020
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Year Ended 31.8.20 £ Net income for the reporting period (as per the Statement of Financial Activities) 21,824 Adjustments for: Depreciation charges 72,756 Profit on disposal of fixed assets (950) Cash & equivalent on transfer of trade - Decrease/(increase) in stocks 320 Increase in debtors (3,097) Increase in creditors 10,787 Net cash provided by operations 101,640 |
Period 16.5.18 to 31.8.19 £ 66,631 68,678 (10,595) 42,314 (320) (850) 16,898 182,756 |
|---|---|
2. ANALYSIS OF CHANGES IN NET FUNDS
| At 1.9.19 | Cash flow | At 31.8.20 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank | 67,569 | (12,782) | 54,787 |
| 67,569 | (12,782) | 54,787 | |
| Debt | |||
| Debts falling due within 1 year | (15,000) | 12,750 | (2,250) |
| (15,000) | 12,750 | (2,250) | |
| Total | 52,569 | (32) | 52,537 |
The notes form part of these financial statements
Page 7
Henley Rowing Club
Notes to the Financial Statements
for the Year Ended 31st August 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Nil rate of depn Rowing Equipment - Straight line over 14 years Gym Equipment - 20% on cost
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
continued...
Page 8
Henley Rowing Club
Notes to the Financial Statements - continued
for the Year Ended 31st August 2020
2. DONATIONS AND LEGACIES
| Year Ended 31.8.20 £ Donation from Trading Company 6,361 Fundraising 3,603 9,964 3. OTHER TRADING ACTIVITIES Year Ended 31.8.20 £ Membership Fees 111,456 Rack Fees 27,184 Members Insurance 4,332 HRR Car Park and Camping - Kit Sales 8,654 Equipment Rental 750 Camps and Coaching for members 1,258 Venue Income 7,948 161,582 4. INCOME FROM CHARITABLE ACTIVITIES Year Ended 31.8.20 Activity £ Grants Miscellaneous 25,000 5. RAISING DONATIONS AND LEGACIES Year Ended 31.8.20 £ Fundraising Expenditure 508 |
Period 16.5.18 to 31.8.19 £ 68,976 25,036 94,012 Period 16.5.18 to 31.8.19 £ 102,287 25,289 4,570 10,390 1,054 90 6,400 11,463 161,543 Period 16.5.18 to 31.8.19 £ - Period 16.5.18 to 31.8.19 £ 75 |
|---|---|
continued...
Page 9
Henley Rowing Club
Notes to the Financial Statements - continued
for the Year Ended 31st August 2020
6. OTHER TRADING ACTIVITIES
| Year Ended 31.8.20 £ Hire of plant and machinery - Licensing 2,736 Boat & Oar Maintenance 6,941 Ergo Maintenance 2,672 Miscellaneous Rowing Items 1,026 Learn to Row Coaching Costs 1,301 Hall Hire 4,904 Vehicle Hire, Fuel and Ferries - Coaches Training and Courses 1,427 Player Payments 2,000 Members Coaching Costs 5,346 Trailer Maintenance 35 Seat Fees (HRR Crews) - Kit Purchase 8,533 Launch Maintenance 2,304 Venue Expenditure 6,740 45,965 7. CHARITABLE ACTIVITIES COSTS Support Direct costs (see Costs note 8) £ £ Administration 150 48,375 Rowing - 72,756 Miscellaneous - 7,918 150 129,049 8. SUPPORT COSTS Management Finance £ £ Administration 44,839 3,536 Rowing 72,756 - Miscellaneous 7,932 (14) 125,527 3,522 |
Period 16.5.18 to 31.8.19 £ 100 6,498 19,453 2,700 979 4,852 503 90 2,332 3,000 6,182 645 2,261 1,338 1,149 11,539 63,621 Totals £ 48,525 72,756 7,918 129,199 Totals £ 48,375 72,756 7,918 129,049 |
|---|---|
continued...
Page 10
Henley Rowing Club
Notes to the Financial Statements - continued
for the Year Ended 31st August 2020
9. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| Period | ||
|---|---|---|
| 16.5.18 | ||
| Year Ended | to | |
| 31.8.20 | 31.8.19 | |
| £ | £ | |
| Depreciation - owned assets | 72,757 | 68,677 |
| Hire of plant and machinery | - | 100 |
| Other operating leases | 7,932 | 7,932 |
| Surplus on disposal of fixed assets | (950) | (10,595) |
10. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st August 2020 nor for the period ended 31st August 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st August 2020 nor for the period ended 31st August 2019.
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities Other income Total EXPENDITURE ON Raising funds Raising donations and legacies Other trading activities Charitable activities Administration Facility Rowing Miscellaneous Total NET INCOME |
Unrestricted fund £ 94,012 161,543 10,595 266,150 75 63,621 63,696 31,432 33,463 2,250 68,678 199,519 66,631 |
|---|---|
continued...
Page 11
Henley Rowing Club
Notes to the Financial Statements - continued
for the Year Ended 31st August 2020
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 952,724 1,019,355 |
|---|---|
12. TANGIBLE FIXED ASSETS
| Improvements to Rowing property Equipment £ £ COST At 1st September 2019 578,003 1,073,335 Additions - 78,503 At 31st August 2020 578,003 1,151,838 DEPRECIATION At 1st September 2019 - 673,557 Charge for year - 69,771 At 31st August 2020 - 743,328 NET BOOK VALUE At 31st August 2020 578,003 408,510 At 31st August 2019 578,003 399,778 13. STOCKS Stocks 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Amounts owed by group undertakings |
Gym Equipment £ 42,465 4,919 47,384 37,732 2,986 40,718 6,666 4,733 31.8.20 £ - 31.8.20 £ 3,947 19,201 23,148 |
Totals £ 1,693,803 83,422 1,777,225 711,289 72,757 784,046 993,179 982,514 31.8.19 £ 320 31.8.19 £ 850 - 850 |
|---|---|---|
continued...
Page 12
Henley Rowing Club
Notes to the Financial Statements - continued
for the Year Ended 31st August 2020
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other loans (see note 16) Trade creditors Deferred Income Deferred Donation 16. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Loan from Trustee 17. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
At 1.9.19 £ 1,019,355 1,019,355 Incoming resources £ 197,496 197,496 At 16.5.18 £ 952,724 952,724 |
31.8.20 £ 2,250 5,094 14,000 8,591 29,935 31.8.20 £ 2,250 Net movement in funds £ 21,824 21,824 Resources expended £ (175,672) (175,672) Net movement in funds £ 66,631 66,631 |
31.8.19 £ 15,000 865 16,033 - 31,898 31.8.19 £ 15,000 At 31.8.20 £ 1,041,179 1,041,179 Movement in funds £ 21,824 21,824 At 31.8.19 £ 1,019,355 1,019,355 |
|
|---|---|---|---|---|
continued...
Page 13
Henley Rowing Club
Notes to the Financial Statements - continued
for the Year Ended 31st August 2020
17. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 266,150 266,150 |
Resources Movement expended in funds £ £ (199,519) 66,631 (199,519) 66,631 |
|---|---|---|
18. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st August 2020.
Page 14
Henley Rowing Club
Detailed Statement of Financial Activities
for the Year Ended 31st August 2020
| Period | ||
|---|---|---|
| 16.5.18 | ||
| Year Ended | to | |
| 31.8.20 | 31.8.19 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donation from Trading Company | 6,361 | 68,976 |
| Fundraising | 3,603 | 25,036 |
| 9,964 | 94,012 | |
| Other trading activities | ||
| Membership Fees | 111,456 | 102,287 |
| Rack Fees | 27,184 | 25,289 |
| Members Insurance | 4,332 | 4,570 |
| HRR Car Park and Camping | - | 10,390 |
| Kit Sales | 8,654 | 1,054 |
| Equipment Rental | 750 | 90 |
| Camps and Coaching for members | 1,258 | 6,400 |
| Venue Income | 7,948 | 11,463 |
| 161,582 | 161,543 | |
| Charitable activities | ||
| Grants | 25,000 | - |
| Other income | ||
| Gain on sale of tangible fixed assets | 950 | 10,595 |
| Total incoming resources | 197,496 | 266,150 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Fundraising Expenditure | 508 | 75 |
| Other trading activities | ||
| Hire of plant and machinery | - | 100 |
| Licensing | 2,736 | 6,498 |
| Boat & Oar Maintenance | 6,941 | 19,453 |
| Ergo Maintenance | 2,672 | 2,700 |
| Miscellaneous Rowing Items | 1,026 | 979 |
| Learn to Row Coaching Costs | 1,301 | 4,852 |
| Hall Hire | 4,904 | 503 |
| Vehicle Hire, Fuel and Ferries | - | 90 |
| Coaches Training and Courses | 1,427 | 2,332 |
| Player Payments | 2,000 | 3,000 |
| Members Coaching Costs | 5,346 | 6,182 |
| Trailer Maintenance | 35 | 645 |
| Carried forward | 28,388 | 47,334 |
This page does not form part of the statutory financial statements
Page 15
Henley Rowing Club
Detailed Statement of Financial Activities
for the Year Ended 31st August 2020
| Period | ||
|---|---|---|
| 16.5.18 | ||
| Year Ended | to | |
| 31.8.20 | 31.8.19 | |
| £ | £ | |
| Other trading activities | ||
| Brought forward | 28,388 | 47,334 |
| Seat Fees (HRR Crews) | - | 2,261 |
| Kit Purchase | 8,533 | 1,338 |
| Launch Maintenance | 2,304 | 1,149 |
| Venue Expenditure | 6,740 | 11,539 |
| 45,965 | 63,621 | |
| Charitable activities | ||
| Postage and stationery | 150 | - |
| Bad Debt Provision | - | 2,250 |
| 150 | 2,250 | |
| Support costs | ||
| Management | ||
| Other operating leases | 7,932 | 7,932 |
| Rates and water | 1,668 | 2,531 |
| Insurance | 19,250 | 17,388 |
| Light and heat | 4,092 | 6,502 |
| Telephone & Broadband | 998 | 968 |
| Waste Disposal | 3,027 | 3,767 |
| Servicing | 490 | 315 |
| Cleaning & Hygiene | 5,887 | 8,567 |
| Repairs & Maintenance | 3,168 | 5,595 |
| Land Maintenance | - | 1,263 |
| Building Improvements | 750 | 3,955 |
| General Administration Costs | 805 | 638 |
| Accountancy Fees | 3,780 | 2,280 |
| Other Professional Fees | 924 | 2,328 |
| Hardship Payments | - | 100 |
| Charitable Donations | - | 75 |
| Rowing Equipment Depreciation | 69,771 | 65,600 |
| Gym Equipment Depreciation | 2,985 | 3,078 |
| 125,527 | 132,882 | |
| Finance | ||
| Bank charges / Barclaycard fee | 3,522 | 691 |
| Total resources expended | 175,672 | 199,519 |
| Net income | 21,824 | 66,631 |
This page does not form part of the statutory financial statements
Page 16