2023-06-30-accounts - Wey Kayak Club

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Annual Report and Financial Statements, 2022-23

For the period ending: 30[th] June 2023

A Charitable Incorporated Organisation Registered charity no. 1181069

Contents	Page
Administrative Information	2
Trustees Annual Report	3
Independent Examiner's Report	8
Statements of Financial Activities	9
Balance Sheet	10
Notes to the Financial Statements	11

Wey Kayak Club Annual Report and Financial Statements For the period ended 30 June 2023

Wey Kayak Club

Administrative Information 30 June 2023

Registered charity no. 1181069

REGISTERED ADDRESS

The Guildford Waterside Centre Riverside Guildford Surrey GU1 1LW

TRUSTEES

Jim Rossiter – Chairman

David Halliwell - Treasurer

David Kitching - Commodore

Adrian Henson – Vice Chairman

Peter Gorman Michael Luck Lois Lewis

Duncan Roeser- Secretary

Fay Lamph

Wey Kayak Club Annual Report and Financial Statements For the period ended 30 June 2023

TRUSTEES’ ANNUAL REPORT 2022-23

The Trustees present their report with the financial statements of the charity for the year ended 30 June 2023.

This Annual Report and Accounts is produced in accordance with the requirements of the Charities Act 2011, and 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 2015).

Wey Kayak Club has income between £25,000 and £500,000 and so is subject to Independent Examination, conducted by R C Baker.

The Charity's objects are:

The promotion of community participation in healthy recreation in particular by the provision of facilities for the sport of canoeing and kayaking.

This is fulfilled by the provision of services and facilities to allow both newcomers to the sport and existing participants to undertake the sport all year round. Members can take advantage of coaching, boat storage and extensive facilities for training, as well as using the club house (as part of the Guildford Waterside Centre) for food and drink and changing/showering facilities. We run an extensive outreach programme to local schools to introduce their pupils to the sport.

Revenue in the period was £119, 454 and expenses were £130, 747; a deficit of £11, 253 this being attributable to unrestricted funds. Designated funds showed a small increase whilst there was no activity in restricted funds. We remain in a strong financial position with unrestricted funds of £66, 045 being free for general use and designated funds of £51, 214 assigned for various purposes (mainly a Future Development Fund). Note 14 gives detail of movement in the designated funds.

Ahead of an expected bequest of £10, 000 we spent heavily to increase our fleet of boats and to provide a new outdoors gym and exercise area – this via our host the Guildford Waterside Centre (GWC). Largely driven by large increases in utility costs, our contribution to the running costs of the GWC also rose steeply in the year.

Chairman’s Report

In the last report reference was given to Liam Heaths success as Britain’s most successful Kayak Olympian, again this year Wey has assisted another kayaker on a sporting record breaking career. Greta Roser has become one of the most successful female junior racers of all time, taking World and European titles in sprint and marathon racing. At the European Marathon Championships there were four Wey paddlers competing in Junior Girls, Junior Boy, Under 23 Women and Senior Women, all putting in quality performances.

Wey Kayak Club Annual Report and Financial Statements For the period ended 30 June 2023

The Clubs DNA is racing, however support for members across a range all ages and abilities ensures members are encouraged at all levels. Participation in a range of events included juniors, seniors, and veterans competitions across the disciplines of sprint, marathon and ocean racing. Club members compete in regional, national, and international competition ensuring the membership have hundreds of opportunities to practice their skills and competencies beyond the club. Support to assist personal development on and off the water continues, the club boasts some 40 First Aid Trained coaches and helpers. Wey’s influence continues with Roy Fieldus, Pete Gorman, Fay Lamph and Paul Dimmock all being part of Team GB Management.

Environmental work continues with river clean up days coordinated with the National Trust and British Canoeing ensure that that efforts to keep invasive species from the river maximised and non-degradable waste removed. Pippa Rowlandson volunteers to lead this essential environmental work, her efforts recognised by British Canoeing who now engage Pippa to assist them on wider environmental works.

The collaboration of the Wey Kayak Club working alongside other participant GWC organisations continues, the partnership working of Wey Kayak Club and the Samson Centre was a feature of a number of funding applications and we confidently expect to hear good news from some of these in the near future. Club members Tim Lodge and Dave Kitchings have become Trustees of the Samson Centre, again assisting in the relationship between the two organisations. The unique opportunities made available by Wey Kayak Club working with the Samson Centre received recognition with the Multiple Sclerosis Trust awarding the Samson Kayakers the national award for innovation as shown below.

Wey Kayak Club Annual Report and Financial Statements For the period ended 30 June 2023

We were able to run a full winter series of Hare and Hounds, our annual sprint regatta and main marathon event, all being well attended. The summer 23 sprint regatta season was able to operate in full and was well attended by many club paddlers.

Governance

The charity has a board of trustees. Trustees shall comprise:

at least three and not more than twelve individuals

A Trustee shall be appointed either:

by ordinary resolution of the members at general meeting;
or by the other Trustees.

The Trustees are as follows:

James Rossiter - Chairman David Halliwell - Treasurer David Kitching - Commodore Adrian Henson – Vice Chairman Peter Gorman Michael Luck Lois Lewis Duncan Roeser Fay Lamph

Six meetings of the Trustees were held during in the year to 30[th] June 2023. The trustees are all members (along with certain other club members) of the Management Committee which has delegated powers for the day to day operation of the club and generally meets every 2 months. An annual general meeting is held in March of every year though out intent is to gradually move this to November which more closely aligns with both our year end and the racing season.

The Management Committee receives reports on the financial position ahead of every meeting, and it is here that detailed discussions take place about issues relating to the management of the charity. One particular financial innovation was the introduction of cashless payments which has been enthusiastically taken up to now supplant the majority of previous cash payments.

Wey Kayak Club is a membership organisation. Membership shall be open to any person who is interested in furthering its purposes, and who, by applying for membership, has indicated his, her or its agreement to become a member and acceptance of the duty of members and which has paid the Annual Subscription for members as laid down from time to time by the trustees.

Wey Kayak Club Annual Report and Financial Statements For the period ended 30 June 2023

Risk Management

A review of the Risk Register is a standing item for the Management Committee. The risk register is primarily concerned with ensuring the safety of all taking part in the sport under the club auspices.

Staff Team

The vast majority of the work undertaken by and within the club is performed by volunteers. The club had one member who provides coaching and administrative services under a consultancy sub-contract.

Marketing

We continued to keep our website fresh, up to date and relevant for both members and other interested parties. We have achieved good coverage in local papers through our relationships and press releases. A weekly newsletter distributed via e-mail to all club members was a welcome addition. Our use of TeamApp, a social media app, to keep members informed both of general club matters and for specific interest groups was increasingly taken up.

Our Funders

During the period we received funding from the following sources:

Club members (Designated Bursary Fund);
Waitrose (Environment Fund) – this to cover costs relating to our biannual river clean up and other related expenses;

for which we would like to record our thanks.

Looking forward to 2023-24

Wey Kayak Club has good prospects for the forthcoming year. We remain confident that we will maintain our status as a top flat water club in national competitions whilst working to provide a very sociable venue for those who just enjoy paddling. We will work hard to engage local schools into our structure. The Leads group are considering coach development opportunities to support the growing demand from Junior paddlers. Initiatives such as the Racing Canoe programme in partnership with Richmond CC and locally lead by Linda Baily is a further example of Wey creating more opportunities for racing. A note of caution regarding the clubs development is capacity, this is capacity for more privately owned boats, provision of club equipment and possibly the most critical is the ageing coaching team, the Leads group have established a sub group to look interventions to help with impending coach shortage.

Financially we remain strong and anticipate a small surplus/break even in the 23/24 year.

Statement of Public Benefit

The Trustees have considered the guidance provided by the Charity Commission relating to public benefit and its impact on the charity’s work, and in particular the requirement that there must be specific

Wey Kayak Club Annual Report and Financial Statements For the period ended 30 June 2023

identifiable benefits, and ones applicable to the wider public. Trustees consider that both requirements have been met.

Financial Statement

Reserves Policy

The Trustees have examined the Charity’s need for reserves in the context of planned activities during 2023/24. In particular the need for continuing paid coaching using funds generated by the club, along with a programme of boat replacement.

Reserves are needed to:

Meet the working capital requirements of the Charity;
Allow for the development of new initiatives;
Provide additional resources which enhance the quality of our delivery;
Meet the Trustees’ responsibilities;
Provide against any significant drop in short-term funding.

The Trustees wish to maintain Unrestricted Reserves to a level to cope with financial contingencies. Our target for Net Free Reserves (i.e. Unrestricted General Reserves after the removal of the net book value of Fixed Assets) should reflect six months costs. In financial terms, for the 23/24 budget year, this equates to approximately £50,000. At £33, 969 our Net Free Reserves somewhat below this figure, but this reflects the timing of our bequest (£10, 000) and heavy expenditure on boats. We believe that this figure will increase in the 23/24 year.

Approved by the Trustees on 11[th] January 2024, and signed on their behalf:

James Rossiter Trustee Chairman

Wey Kayak Club Annual Report and Financial Statements For the period ended 30 June 2023

Wey Kayak Club

Independent Examiner's Report to the Trustees of Wey Kayak Club – Registered Charity 1181069

I report on the accounts of the charity for the period ended 30 June 2023, which are set out on pages 9 to 14.

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. My work has been undertaken so that I might state to the charity’s Trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s Trustees as a body, for my work, for this report, or for the opinions I have formed.

Independent Examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

the accounting records were not kept in accordance with section 130 of the Charities Act; or
the accounts did not accord with the accounting records; or
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

R C Baker Baker & Co. Independent Examiner

Date: 11[th] January 2024

Wey Kayak Club Annual Report and Financial Statements For the period ended 30 June 2023

WEY KAYAK CLUB

STATEMENT OF FINANCIAL ACTIVITIES

For the year ended 30 June 2023

	Notes	Unrestricted	Designated	Restricted	Total 2023	Total 2022
		£	£	£	£	£
INCOMING RESOURCES
Membership & Racking		54,366			54,366	58,175
Other Club Income		59,556	0		59,556	48,030
Charitable Activities
Grants Received	2	68	3,429	0	3,497	2,063
Other Income	3	1,854			1,854	577
Investment Income	4	221			221	6
TOTAL INCOME		116,065	3,429	0	119,494	108,851
RESOURCES EXPENDED
Charitable Activities (See below)	5-10	128,229		0	130,747	86,606
Direct service delivery	5	59,247		0	59,247	41,544
Staff costs	6	0		0	0	0
Office and property costs	7	32,164			32,164	27,119
Sundry expenses	8	24,238	2,519		26,757	8,272
Governance costs	9				0	0
Depreciation	10	12,579			12,579	9,671
TOTAL EXPENDITURE		128,229	2,519	0	130,747	86,606
NET INCOME/(EXPENDITURE)		(12,163)	910	0	(11,253)	22,245
TRANSFERS BETWEEN FUNDS
TOTAL FUNDS AT 30 JUNE 2022		78,209	50,304	0	128,512
TOTAL FUNDS AT 30 JUNE 2023		66,045	51,214	0	117,259

WEY KAYAK CLUB

BALANCE SHEET as at 30 June 2023

Wey Kayak Club

Annual Report and Financial Statements For the period ended 30 June 2023

2023 £ £ 32,076 3,518 5,620 84,510 93,647 8,464 85,183 117,259 66,045 51,214 0 117,259	2022 £ £ 21,219 1,265 2,304 114,313 117,882 10,589 107,293 128,512 78,209 50,304 0 128,512	2022 £ £ 21,219 1,265 2,304 114,313 117,882 10,589 107,293 128,512 78,209 50,304 0 128,512
93,647 8,464	117,882 10,589

		128,512
		78,209 50,304 0
		128,512

The financial statements on pages 9 to 14 were approved by the Trustees on 11 January 2024 and signed on their behalf by:

James Rossiter Trustee Chairman

Wey Kayak Club Annual Report and Financial Statements For the period ended 30 June 2023

WEY KAYAK CLUB

Notes to the Financial Statements For the year ended 30 June 2023

1. Accounting Policies

General

These accounts have been prepared under the historic cost convention and in accordance with the applicable accounting standards and the Statement of Recommended Practice on Accounting by Charities (2015 FRSSE), and the Financial Reporting Standard for Smaller Entities (effective 2015) and the Charities Act 2011 (as applicable).

Income

Income comprises grants, donations, subscriptions, interest and surpluses from club services.

Fixed Assets

Fixed assets are stated at cost and depreciation is provided at rates calculated to write off each asset over its expected useful life as follows:

K2 &K4 Kayaks: 12.5% straight line, K1 Kayaks and other equipment: 20% straight line
Assets purchased in the year costing in excess of £250 are included in the balance sheet
All other assets are written off in the year of purchase.

Governance Costs

These include any Trustee expenses and any Independent Examiner's Fee.

Operating Commitments

The Charity operates from the Guildford Waterside Centre and pays rental for this usage. The cost is a proportion of the building running costs and is agreed for each year. The Charity nominates 2 trustees for the Guildford Waterside Centre

2. Grants Received

Grants Received
Other Sponsors Waitrose Misc Donations	£ £ £ £ Unrestricted Restricted Unrestricted Restricted 1,000 2,497 2,063 2023 2022
	3,497 0 2,063 0

3. Other Income

Other income represents miscellaneous sums received totalling £1,854

4. Investment Income

nvestment Income
	2023	2022
	£	£
Bank interest receivable	221	6

Wey Kayak Club Annual Report and Financial Statements For the period ended 30 June 2023

WEY KAYAK CLUB

Notes to the Financial Statements For the year ended 30 June 2023

5. Direct Service Delivery

Coaching Consultancy Coaching Expenses Equipment Maintenance Club Shop/Canteen BC Affiliation and Licence Costs Training Costs Race Costs	£ £ £ £ Unrestricted Restricted Unrestricted Restricted 20,013 18,000 6,498 4,774 2,338 2,534 12,993 9,164 1,861 2,001 2,999 0 12,546 5,070 2023 2022
	59,247 0 41,544 0

6. Staff Costs

Salaries Social security costs Pension contributions Average number of employees Coaching Others	2023 2022 £ £ 0 0 0 0 0 0 0 0 0 0

No member of staff received remuneration in excess of £60,000.

£0 was charged to restricted funds

7. Office and Property Costs

Insurance Office services/maintenance	2023 2022 £ £ 877 784 31,288 26,335 32,164 27,119

£Nil was charged to restricted funds

8. Sundry Expenses

Marketing Club Expenses Sundry Other (GWC Donation)	2023 2022 £ £ 1,077 2,306 5,092 2,411 3,291 1,918 17,297 1,638 26,757 8,272

£Nil was charged to restricted funds

Wey Kayak Club Annual Report and Financial Statements For the period ended 30 June 2023

WEY KAYAK CLUB

Notes to the Financial Statements For the year ended 30 June 2023

9. Governance Costs

There were no governance costs in this period

10. Fixed Assets

K1 Kayaks £ 37,953 12,446	K2/4 Kayaks Other Eqpt £ £ 57,346 25,238 9,530 1,460	Total 120,537 23,436
50,399	66,876 26,698	143,973
33,816 4,404	45,439 20,063 5,277 2,898	99,318 12,579
38,220	50,716 22,961	111,897
4,137	11,907 5,175	21,219
12,179	16,160 3,737	32,076
	2023 £ 3,518 3,518 2023 £ 5,620 5,620 2023 £ 5,774 2,690 8,464	2022 £ 1,265
		1,265
		2022 £ 2,304
		2,304
		2022 £ 6,564 4,025
		10,589

Wey Kayak Club Annual Report and Financial Statements For the period ended 30 June 2023

WEY KAYAK CLUB

Notes to the Financial Statements For the year ended 30 June 2023

14. Designated Funds

The Unrestricted Funds of the charity include the following designated funds which have been set aside by the trustees for specific purposes.

		Movement in Funds	Movement in Funds
	Balance	Incoming	Resources	Transfers	Balance
	01/07/2022	Resources	Expended		30/06/2023
	£	£	£	£	£
Bursary Fund	304	2,429	2,240	0	493
Environment Fund	0	1,000	279	0	721
Future Development Fund	50,000	0	0	0	50,000
	50,304	3,429	2,519	0	51,214

15. Trustee Remuneration

No trustee or connected person (who served at any time during the year) received any remuneration or expenses.

16. Restricted Funds

Balance	Incoming	Outgoing	Transfer*	Balance
01/07/2022	Resources	Resources		30/06/2023
£	£	£	£	£
0	0	0	0	0