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2022-03-31-accounts

Bristol Ariel Rowing Club

Report and Unauditied Financial Statements

Period 01 April 2021 to 31 March 2022

Charity Number: 1185174

Bristol Ariel Rowing Club

Report 01 April 2021 to 31 March 2022

The report covers the period from 1[st] April 2021 until the end of the club’s financial year on 31[st] March 2022.

Reference and Administrative Details:

Charity name: Bristol Ariel Rowing Club Bristol Ariel Rowing Club
Alternative name: BARC
Charity registration number: 1185174
Address: Bristol Ariel Rowing Club
Pump House Lane
Brislington
Bristol
BS4 4RQ
Trustees: John Wallace Filor
Catherine Ann Greig Treasurer
Geoffrey Howe Lester President
Julien Tavener Captain (until 24-09-2021)
Lisa Sargeant Captain (from 24-09-2021)
Emma Hall Appointed 12-12-2021
Accountants: Linden Accountants
Scrapstore House
21 Sevier Street
St Werburghs
Bristol, BS2 9LB

2

Bristol Ariel Rowing Club

Report 01 April 2021 to 31 March 2022

Report of the trustees

The trustees present their report and the audited financial statements for the period 1 April 2021 to 31 March 2022.

Reference and administrative information set out on page 2 forms part of this report. The financial statements comply with current statutory requirements and the Statement of Recommended Practice - Accounting and Reporting by Charities (FRS102, effective from January 2015) as they apply to small charities.

Structure, governance, and management

The club is constituted as a Charitable Incorporated Organisation (CIO), first registered on 5 September 2019. It is governed by a CIO Constitution which mirrors the Charity Commission template.

Appointment of trustees

Three trustees are ex-officio: the club President, Captain and Treasurer elected at a General Meeting of the club. The remaining trustees are appointed by the current trustees and ratified at a General Meeting of the CIO.

Prospective new Trustees will be invited to complete a skills audit to maintain the breadth of experience and diversity within the board necessary to properly carry out its functions. Potential Trustees who meet the skills need will be co-opted for an induction period to ensure they are fully aware of the responsibilities before being formally proposed and voted on at the Charity’s AGM.

One new trustee, Emma Hall, was appointed in December 2021 after observing trustee meetings. Her appointment is due for ratification at the Annual General Meeting in October 2022.

During the year the trustees agreed to subscribe to the support charity, NCVO. Trustees are referred to guidance and training texts and on-line courses run by NCVO.

Management structure and wider relationships

The trustees delegate the day-to-day functioning of the club to a committee of 7 officers elected each year at the club AGM. Some of those officers lead a team of volunteers undertaking specific areas of responsibility (e.g. the Captain leads a “Rowing Team” including volunteer lead coaches and volunteers for boats and gym maintenance).

The club operates under rowing’s governing body, British Rowing, and is part of British Rowing’s Wessex, Avon, Gloucester & Somerset (WAGS) division.

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Bristol Ariel Rowing Club

Report 01 April 2021 to 31 March 2022

Objectives and Activities

The objective of the charity as described in our constitution is “the promotion of participation in amateur sport and healthy recreation through the provision of facilities, encouragement and instruction in rowing for the community of Bristol and surrounding areas.”

The programme of activities to deliver this objective over the period is normally focussed on:

During this reporting period the club was inhibited from fulfilling these activities in full by the on-going and changing Covid pandemic emergency restrictions. As restrictions were relaxed and following British Rowing’s guidance club activity was re-established to support the objective. As during 2020-21 the trustees’ focus was therefore on:

The charity is not a grant awarding body.

Trustee approach:

In conducting their scrutiny and review of club activities the trustees have given due regard to the Charity Commission guidance on public benefit as described in documents PB1, PB2, PB3, CC3 & CC4.

In pursuit of those objectives the club has:

Contributions by volunteers

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Bristol Ariel Rowing Club

Report 01 April 2021 to 31 March 2022

The club relies very heavily on the generous time, work and expertise given by volunteers for the delivery of its benefits and activities. Volunteer roles delivered during the period include:

Many other short projects and developments have also facilitated safe and secure delivery and development of the club’s activities and improved its facilities.

The club trustees and committee are very grateful for the invaluable contribution of our volunteers.

Volunteers receive no remuneration other than justified expenses.

Achievements and Performance

In delivery of the objective and activities programme during the period we have:

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Bristol Ariel Rowing Club

Report 01 April 2021 to 31 March 2022

During the 2021 Tokyo Olympics the club had the opportunity to showcase the sport, participation of women (particularly on return after childbirth) and ourselves when asked by British Rowing to host a media event on the date of the Olympic final of Helen Glover and Polly Swan. Olympic double gold medallist, Heather Stanning, and many TV and press teams attended.

Financial Review

Review of financial position at 31 March 2022

The period from April 2021 to March 2022 is the second full year of Bristol Ariel Rowing Club as a CIO.

By the end of this period, the Charity held net assets of £282,942 comprised of:

Fixed assets: £207,317

Net Current assets: £75,625

It was during 2021-22 that the club’s full programme of activities restarted as lockdown restrictions were relaxed. Despite this, a cautious budget was approved by the Trustees as it was unclear what the knock-on effects might be post lockdown due to COVID and people’s potential reluctance to engage with the sport due to health concerns.

Main sources of income

During the 20-21 financial year, 12% of members paused their membership subs due to financial constraints. GoRow indoor classes were stopped completely, and Land membership was also paused due to restrictions on indoor activity. Once classes were reinstated and the club gradually became fully operational, income from both Membership subs and GoRow classes started to reach previous levels, resulting in £12.5k more income than the previous financial year.

The club’s other income stream, Learn to Row courses, were severely hit by the lockdown and even when some restrictions were lifted, the club decided not to run any courses in the 2021 financial year. This resulted in zero income with a loss of £4-6k. With the number of courses back up to two courses within the year and payments coming in advance for the 2223 course, the club received £6,472 in course fees.

Grants and donations

6

Bristol Ariel Rowing Club

Report 01 April 2021 to 31 March 2022

________________

The club received a £6,404 COVID-19 Small Business grant through Bristol City Council, which helped to cover a proportion of the loss in income from the previous year. In addition, £3,000 was donated by member Steve Howie for the Development fundraising.

Expenditure

In 2020-2021 the purchase of equipment was put on hold, apart from one single sculling boat. However, once the club was back in operation, it was felt that the club’s equipment needed to be reviewed and a ‘wish’ list was compiled of the optimum equipment to help the club meet its charitable objectives.

This resulted in a total of £14,765 being spent on a mix of both water and gym equipment to serve the broad membership.

Expenditure was higher than the previous year – £47,418 compared to £41,425. This was due to increased activity and a higher level of insurance which had been reduced whilst boats were not being used. The club also received a refund from EDF in January 2022. Although less electricity had been used in the previous year, EDF continued to charge the club at the same level of direct debit through the year. As GoRow indoor classes resumed, freelance coach fees increased in line with activity which was more than covered by attendees.

A significant amount - £4,312 was spent on a variety of work on improving the premises including the initial stages of building a lean-to next to the main Boathouse, improvements to the launch shed, general maintenance and the renting of a storage space for the club’s archives. Looking ahead, there are various other improvements that have been identified including making the Clifton shed watertight and investigating how the Avery’s building can be restored.

Bristol Ariel does not employ any staff members. Two freelance, self-employed coaches are contracted to run Go Row Indoor classes and a third coach is employed to provide coaching for ‘water’ rowers.

Reserves Policy

The Trustees have put a Reserves Policy in place that ensures sufficient funds are available to cover 6 months of running costs and a fund for replacing equipment essential for the safe

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Bristol Ariel Rowing Club

Report 01 April 2021 to 31 March 2022

operation of the club activities. The Trustees have agreed to increase reserves to £26,000 - £20,000 designated for contingency/running costs and £6,000 set aside for the equipment.

The pandemic highlighted the need for reserves and more recently, the Cost of Living crisis is demonstrating how the rise in utility bills will create issues for a lot of households, businesses and organisations. This is why the Trustees have considered a prudent approach to ensuring that the viability of the charity is not compromised during this difficult time.

The remaining General funds of £35K will be used for the furthering of the charity’s objectives. Decisions about spending outside of the annual budget for routine running costs is proposed by the committee and approved by the Trustees.

An additional £3,000 donated by member, Steve Howie, will be added to the existing restricted fund pot for the building development. This will not be spent until major funding is secured.

Assessment of financial status

The club has come out of the financial year with a £21,720 surplus, putting the club and its finances in a good position. The Business Interruption grant, reinstatement of key activities and an increase in membership have all contributed to a positive outcome.

However, as already mentioned, there are new external factors that the club does not have control of, rising costs being currently one of the biggest risks to the club. The club itself faces an increase in overheads and our members are also seeing their disposable income shrink. This is something that the Trustees will monitor during the course of the year to ensure that the club remains viable and that we accommodate members who are struggling to pay membership subscriptions.

The club is also looking to develop partnerships with similar organisations such as SUP Bristol, to extend the activities offered at the club so that we continue to reach a broader range of people as well as potentially creating new income streams that will contribute to the longerterm sustainability of the club.

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Bristol Ariel Rowing Club

Report 01 April 2021 to 31 March 2022

Declarations

The trustees declare that they have approved the report above.

Signed on behalf of the CIO’s trustees

Geoffrey Howe Lester President

Date: 26 September 2022

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Bristol Ariel Rowing Club

Report 1 April 2021 to 31 March 2022

Independent Examiner's Report

I report to the charity trustees on my examination of the accounts of Bristol Ariel Rowing Club for the year ended 31 st March 2022.

Responsibility and basis of report

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').

Having satisfied myself that the accounts of Bristol Ariel Rowing Club 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 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(S)(b) of the Act.

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 giving me cause to believe:

  1. Accounting records were not kept in accordance with section 130 of the Charities Act; or

  2. The accounts do not accord with those records; or

  3. The accounts do 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 my 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.

David Baptiste ACPA

Linden Accountant Limited Scrapstore House 21 Sevier Street St Werburghs Bristol BS2 9LB

10

BRISTOL ARIEL ROWING CLUB

STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account)

YEAR ENDED 31 MARCH 2022

Note
INCOME
Income from generated funds
Rental income
Activities for generating funds
2
Grants receivable
3
Income from charitable actitivies
4
Other income
TOTAL INCOME AND ENDOWMENTS
EXPENDITURE
Expenditure on generating funds
5
Expenditure on charitable activities
6
TOTAL EXPENDITURE
NET INCOME/(EXPENDITURE)
Balances brought forward
Gross Transfers Between Funds
12
Balances carried forward		 Unrestricted
Funds
£
390
6,683
6,404
51,676
1
65,154
15,472
31,676
47,148
18,005
258,222
-
276,227		 Restricted
Funds
£
-
3,750
-
-
-
3,750
-
-
-
3,750
3,000
-
6,750		 Total Funds
2022
£
-
390
10,433
6,404
51,676
1
68,904
15,472
31,676
47,148
21,755
261,222
-
282,977		 Total Funds
2021
£
-
1,590
75
-
30,979
2
32,645
12,884
28,541
41,425
8,780
-
270,001
-
261,222

The charity has no recognised gains or losses other than the results for the year as set out above.

All of the activities of the charity are classed as continuing.

The notes on pages 13 to 17 form part of these financial statements

11

BRISTOL ARIEL ROWING CLUB

BALANCE SHEET

YEAR ENDED 31 MARCH 2022

Note
FIXED ASSETS:
Tangible assets
8
CURRENT ASSETS:
Debtors
9
Stock
Cash at bank and in hand
CURRENT LIABILITIES:
Creditors: falling due within one year
10
Net current assets
NET ASSETS:
FUNDS
General funds
12
Designated funds
12
Building funds
12
Restricted funds
12		 2022
£
3,164
903
74,798
78,865
(3,240)
241,885
26,000
8,342
6,750		 207,317
75,625
282,942
282,977		 2021
£
209,169
1,773
92
55,310
57,175
(5,122)
52,053
261,222
232,488
22,500
3,234
3,000
261,222

These financial statements were approved by the directors and authorised for issue on ..... ... §. .. 2P • "?:6. lfT ::l "2.. and are signed on their behalf by:

Chair of Trustees

Charity Registration Number: 1185174

The notes on pages 13 to 17 form part of these financial statements

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BRISTOL ARIEL ROWING CLUB NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

1 ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historic cost convention. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (FRS 102 SORP) issued in July 2014, and applicable UK Accounting Standards and the Charities Act 2011.

Funds structure

Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the trustees, at their discretion, have set aside resources for a specific purpose.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or the terms of a specific appeal.

Income

All income is recognised once the charity has entitlement to the resources, it is certain that the resources will be received and the monetary value of income can be measured with sufficient reliability.

Income from donations is included when these are receivable, except as follows:

Income from grants, where there are performance or service deliverables required by the terms of the grant, are accounted for as the charity earns the right to payment through its performance.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that agree all costs related to the category. Support costs have been allocated 100% towards the charitable activities of the charity.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both the direct pay and non-pay costs and support costs relating to those activities.

Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue its operations for the foreseeable future and therefore they have continued to adopt the going concern basis when preparing the financial statements.

Governance costs

Governance cost include those costs associated with meeting the constitutional and statutory requirements of the charity, and include its independent examination fees and costs linked to the strategic management of the charity including trustee expenses.

Tangible fixed assets and depreciation

Depreciation has been provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value of each asset, over its expected useful life. The rates used are 2% reducing balance on freehold property and improvements and 10%-15% reducing balance on other fixed assets.

13

BRISTOL ARIEL ROWING CLUB NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

2 ACTIVITIES FOR GENERATING FUNDS

Events
Fundraising & Donations		 Unrestricted
Funds
£
2,525
4,158
6,683		 Restricted
Funds
£
-
3,750
3,750		 Total Funds
2022
£
2,525
7,908
10,433		 Total Funds
2021
£
-
75
284,870

3 GRANTS RECEIVABLE

Business Interruption Grant Unrestricted
Funds
£
6,404
6,404		 Restricted
Funds
£
-
-		 Total Funds
2022
£
6,404
6,404		 Total Funds
2021
£
-
950

4 INCOME FROM CHARITABLE ACTIVITIES

Membership Subs/Racking
Learn To Row
GoRow Indoor Income
Sundry Income		 Unrestricted
Funds
£
41,316
7,452
2,342
566
51,676		 Restricted
Funds
£
-
-
-
-
-		 Total Funds
2022
£
41,316
7,452
2,342
566
51,676		 Total Funds
2021
£
28,731
-
2,028
220
21,643

5 EXPENDITURE ON GENERATING FUNDS

Building Costs
Events
Freelance Trainers		 Unrestricted
Funds
£
8,141
309
7,023
15,472		 Restricted
Funds
£
-
-
-
-		 Total Funds
2022
£
8,141
309
7,023
15,472		 Total Funds
2021
£
6,131
3,700
3,053
11,319

14

BRISTOL ARIEL ROWING CLUB

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

6 DIRECT CHARITABLE EXPENDITURE

Charitable Activities

Charitable Activities
British Rowing Fees
Boat Repairs
Equipment Maintenance
Training
Support Costs
Telephone And Internet
Finance And Admin
Professional Fees
Advertising And Marketing
Licences And Subscriptions
Bank Fees
Charitable Donations
Other
Governance Costs
Independent Examination Fee
Depreciation
Insurance		 Unrestricted
Funds
£
848
1,997
670
-
742
1,002
-
743
159
612
-
120
6,894
Unrestricted
Funds
£
936
16,617
7,229
24,782		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
Restricted
Funds
£
-
-
-
-		 Total Funds
2022
£
848
1,997
670
-
742
1,002
-
743
159
612
-
120
6,894
Total Funds
2022
£
936
16,617
7,229
24,782		 Total Funds
2021
£
1,498
174
999
100
833
1,031
229
216
338
317
738
31
14,327
Total Funds
2021
£
1,092
15,407
5,538
15,263

7 CORPORATION TAX

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.

15

BRISTOL ARIEL ROWING CLUB

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

8
TANGIBLE FIXED ASSETS
COST:
At 1 April 2021
Additions
At 31 March 2022
DEPRECIATION:
At 1 April 2021
Charge for the year
At 31 March 2022
NET BOOK VALUE:
At 31 March 2022
At 31 March 2021		 Land &
Buildings
£
143,356
-
143,356
5,734
1,672
7,407
135,949
137,622		 Boats &
Equipment
£
79,331
11,210
90,541
18,110
13,577
31,686
58,855
61,221		 Other
Equipment
£
12,181
3,555
15,736
1,855
1,368
3,223
12,513
10,326		 Totals
£
234,868
14,765
249,633
25,699
16,617
42,316
207,317
209,169
9
DEBTORS
Trade Debtors
Prepayments
Other Debtors
10 CREDITORS: amounts falling due within one year
Accruals
Key Deposit Creditors
Trade Creditors
Other Creditors
11 ANALYSIS OF NET ASSETS BETWEEN FUNDS
Fixed Assets
Current Assets
Current Liabilities		 Unrestricted
Funds
£
207,317
75,229
(3,354)
279,192		 Restricted
Funds
£
-
3,750
-
3,750		 2022
£
2,108
1,056
-
3,164
2022
£
936
1,393
100
811
3,240
Total Funds
2022
£
207,317
78,979
(3,354)
282,942		 2021
£
1,773
-
-
1,773
2021
£
936
1,177
1,897
1,112
5,122
Total Funds
2021
£
209,169
57,289
(5,236)
261,222

16

BRISTOL ARIEL ROWING CLUB

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

12 ANALYSIS OF CHARITABLE FUNDS

Analysis of
Fund movements
Unrestricted funds:
General funds
Designated funds
Building funds
Restricted funds:
Development Fundraising
Total		 Balance
Income
Expenditure
Transfers
Fund
b/fwd
c/fwd
£
£
£
£
£
232,488
65,154
(47,148)
(8,608)
241,885
22,500
-
-
3,500
26,000
3,234
-
-
5,108
8,342
258,222
65,154
(47,148)
-
276,227
Balance
Income
Expenditure
Transfers
Fund
b/fwd
c/fwd
£
£
£
£
£
3,000
3,750
-
-
6,750
3,000
3,750
-
-
6,750
261,222
68,904
(47,148)
-
282,977

Development Fundraising

A donation from one of the members, Steve Howie, towards the development of a new clubhouse.

13 RELATED PARTY TRANSACTIONS

There were no related party transactions between the charity and the trustees or persons or entities connected to them during the year. 1 trustee waived expenses of £1,871.82 in the year.

17