Charity nuntr. 1186490
THAMES SAILING CLUB
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEPIBER 2024
WELLDEN
TURNBULL
An indepondent fim of Chartered
Accountonts. Chartered Tax A(fvisers
and Statutory Audtt

THAMES SAILING CLUB
R•f•ronc• and Idn￿nIStratIve d8ts118 crfth• Ghwlty. tts tnAta•6 and advlw•
Ind•pwthrt 0￿mIn•t$ r•port
81•t•rnrtof fin•n¢ial acdvltl•8
8•In￿• *h•Dt
10
N¢th8 to th• flnand•l •tat•m•nt•

THA￿8 SAIUNG CLU8
REFERENCE AND ADMINISTrATIVE D￿AlLs OF THE cH￿ilTy, TRUSTEES AND ADVISERS
FOR THE YEAR ENt)ED 31 DECEMBER 2024
Mr M F Laity, Commodore
Mr T A E Wlson. Vicè CommoJore18ppointed 23 June 2024)
Mr K M Pearson, Rear cornn￿re (Events)
Mrs C E Munday, Treasurer
MrJJDunn
Mr D B Wes( Membership laFpomted 4 AvJust 20241
nunknr
11W90
PrlnclpHI offlc•
Surbil¢)n
Surrey
Kr6 4HH
Wdlden Tumbull Llmltexl
bany House
Claren￿1 Lane
Esher
Surrey
Kf10 9FQ
Bank•rn
Bardays Bank PLC
Pa3e 1

TFL4MES SAIUNG CLUB
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present tt)eir ￿nUal repJrt together wth the finanaal staten*nts ft)rthg year 1 January 2024 to 31
D￿m￿er 2024.
This report hlJhlohts our achh8vThnt8 in 2024, and our cu￿¢xk fc( 2025 and
OBJECTIVES AND ACTMTIES
POLICIES AND ¢)BJECTIVES
In setting otpclives and pLgnning for actlirithes, the Trust￿ have given due c£n*deration to general guld8nce
published by the Charity Comrnissi￿ relating io wblic teneflt The Trusttes have rewewed the charl￿$ needs
lor reserves in line wlh the guidance issued by the Chanty Commission and mainlan 8uffiryenl unrestricted
funds in order that the charity Can run efficienlly and continue to meets its aims.
What we are horn to do:
It is worttt repeatlng TSC'S charitable oblects as Ihiy is vthat guides u8 as Iru$tee8, they are..
- to yomote eommunlty Partia￿￿'cffl In heaf(hy recreatic￿ by providing faul￿8¥ for water ¥h)rts I'yacilitles"
rr*an813rKI, bulldings. wulpment and OrganI￿rY4 Sp￿bn9 xts"vitie81.'
- to wovide and assist In providing faolltles for $wt, recreation or other leisure lime Q￿upat￿n of 8uth persons
ho have need for suth fa¢llili88 by reason of thar youth, age, infimity or disablernnl. p)verty or ¥Kial and
ecoronlc uroJm8tances or for tr* puUic al lary in the interests of socAal %%elfare and with the object of
Improvlng thèir condrfons of life,, and
- to avance edues¥on ol the publlc through thè provis1￿ of tralnlng cour8es In watsr sp￿ts arKI rBlat•
ties.
We wlll continue to achleve Ihls by providlng great sportlrYJ actI￿ty on the River Thames at Surblton through tha
prcsvlsDn of Sailing and Stand Up Paddle boarding activities. These will indude training. I￿ng and general skllls
devehJpment aTrJ educAJ￿.
ACHIEVEMENTS AND PERFORPA4NCE
REVIEW OF PROGRESS AKfl ACHIEVEMENTS IN 2024
Ythat W• Achl•vod:
There wpre sgnificant changes in key FI￿ Offlcer po9￿k]nS Ythth18 (￿nir￿j the to evc4ulrJn In th•
club's approaches while retainlng more focus the ngeds of our members. The 2023 revwal in Friday after-
8th001 youth sailing activlties has conOnL*d wth grnat Suc￿5 and 18 a pJwlar ajdilion to Ihe Club's actiwli8¥.
Our 2024 membership numbers ￿tre dolyn on last year, vAth the increase in family sailing Mem￿rship seen in
2023 not $u$t•'ned in 2024, and the year endèj %Mth 144 M&nberships (Some calegcfie5 are of mulllp
persons, reF¥esenkn"ng approximately pecyle in totall.
11 conlinugs to be our int￿tiOn to devdcy asswalon¥ vthh other Itjcal &Jucation4 estsblishrrthts to further
pronijte water SlXKts as pDvErful physiol as well as overall ￿lIt¢Ing thity. To wme extent this deperKly ¢Jn
inyrovements lo our tsulities. whtch * now und￿￿￿.
This year Ihg FQngston & Surrey Marib"me Vdunleer ser￿￿, a charltable inytitubon prcfflotirvJ maritirre thtse$
became a corpyate nEmber, asswating other community bcxjies of this kind 15 ￿￿rA)rne.
P*e2

TPIAJAES SAILING CLUB
TRUSTEES, REPORT Icontiwod
FOR THE YEAR ENtED 31 DECEMBER 2024
ACHlEVEmETr￿ AND PERFORMAIKE
REVIEW OF PROGRESS AND ACHIEVEMENfs IN 2024 Iccfidn￿al
In 2024, as in 2023, Iralniry got off to a skw start due to river ￿dItIonS went on lo ha%* a ￿$Y sumfffjr
season, bul with further disrupts'on due to river ts)ndib"ong * the end of the seascx). The total Inc￿le was
th8Yefore do￿ on 2023 arKI tralne(1216 participanl81297 in 20231. This c£Jnb'nues to ￿tribUte significanty
to the Club's income. As we ended 2024, ￿ are dI￿US51n9 a change in stslus wth our training partner,
KeepSailirKJ, vthere they ￿11 be wistered training inslilu1l￿, u￿rY￿ our fvry'lities and then Wmdlng a
proportion of the incorr￿.
The planning FemissKJn that had previously Secured ift 2018 was ren￿d In 2022, starting the prgect 18
now rdiant upcffl fundraising. In line wth decisions nwle in 2023, ￿en the ￿81 of the original F4an made ils
ccjntinuance unfeasl￿e. the trustees are stlll on an allematlve path for the future. What is clear is that it
will have to be more nTr)Jest, and gradual.
The delays we experien¢%d in nvjving forwgrd had Sn pwts'cular meant investm8nt in the a￿$11n9 changlTrJ room
facilit￿S has taken a backseat. This led to a negatlve impact on mèmber satisfaction in thts ￿gard and also
COn￿rrY6 from our trainlng partner. It could also k a disincentive to other extemal bodi8s using the club.
Reutynlslng this, sonifieanl progress has made agreernnl on a refurbishment of the changirNJ rooms
¢)ver tho wnter of 202412025. EncL)uragingly. eady ￿rk h88 shwi the b88ic struGtural eA)ndrtlon 15 better than
exsxted, so the works Should not only Improve Ihelr appearancts lyjl years to lrfe, and al an ecommlc
Prf￿. Th￿ 8houkl a180 help aB we plan further devdopment.
In looking at future devdopffEnl, one i88ue has teen the role of dub-chwed I￿. A nabonal trend has seen
dirKJhy sailoTg movbng way from their w boats and irtstead hiring club boats. TSC'S exis￿n9 fleet was
of mixed age and C¢￿diti￿. A strategic deCi￿On ha8 made to upgr*Ja our dub fleet to make 11 more
attractive lo e￿$￿'ng and future rrembors.
Some okler tr#)ats Chwasl were Sold, and at our AGM and a later SFecial general meeting members
agreed to buy three further Fuwon 1 sirYJl&hander¥ to add to the existlro three, and abo Fusicn 2
per￿ dinghies. Schtrjubd to arrfve fc* the start of the 2025 season.
It Is bellevej that the comI￿natIon of upgraded d)anOThJ rwms ard a modern club fknl vthll b8 a signlficant
Immediats LNxst to the dub a5 wè C¢￿tinUe to th on l¢)nger-terrn devek)pmenL
K•y Volunteers
TSC Is buitt on the bas18 th* all of ils rmmbers are volunteers hdping wth the day to * QFerallon and
maintenance of the site. The Trustee5 greaty appreciate every h￿r Ih8t our memters give back to the club. A8
In previous years estimate than 270 vdunteer days were urwlertaken.
PRIORMES FOR 2026
The luture of the Club deFends on the continued support and dedication of ils members. many of whom
voILmteer week in and c￿1 without fall. Volunleeriry al the Club has a￿y5 been very much apP￿lated
and conts'nu88 to one of our princip* assets C￿ntributIng to our community ¥)irll and ensuring that the dub
continue5 to oFerate.
In order for the Club to grow, V￿ wll seek to divgrsrfy fijrther and other groups who ean u8e cur
fxilil* and ccmplewent ow current xtivities.
In 2025, the Club needs to delemiine next step5 in the physical redevelopment of our srte. The fact that it
Icoks as rf the changlng rc￿￿$ still have rnany years of life in them will be a significant fact¢x in this. The Stale of
sail shed will now be the key priority. To thts end V￿ wll be ￿sUItirKj vAth the memtership cr¢ the future
aM￿.￿On8 of srte.
Pffje3

TH*￿IE8 SAIUNG CLUB
TRUSTEES. REPORT {¢ontlnuod)
FOR THE YEAR ENDED 31 DECEMBER 2024
FINANCIAL REVIEW
REVIEW OF FINANCIAL ACTMTIE8 AKI AFFAIR8
The (yrating surplus of £27,W Is more in line wth 2U22 than 2￿3. Gross Inc¥y￿ decreased slighly., I
main improvernont is due to reduced costs, [k?￿Y due to some one-off costs IndL*Jed in 2023.
mtership incxyne C(￿￿"nueS to dec¥&3se wth a d￿1￿ of 10% on tre prewous yew12023 7%). Hovrtver,
there were increase5 in other areas of actiwty. The hire of the dubhouse and carpatk shNed 8 gcLbJ increa58
on the previous year. There V￿re fewer trainlng courses overall in 2024 with reduced inconx, however the net
income held up as courses that ran ￿tre well attended. The margin from Caleriry inyowj and the overall
Mt income frcffi Catsring and th8 Bar a small ir￿se.
PRNCIPAL RISKS AND UNCERTAIfrITIES
The main ri$k¥ brc>&Jly fall into Ihree categori85'. Reputatthal, Finanual Physic81 risks.
Reputat(onal rfsks.. These to thè good govemance of the dub of its activttles. ￿ring thè year regular
rneth'ngs of the trustee5 and committees 8eek to mlllgale thesg rlsks. Ajso. thts effployrnenl ol professional
trainers and servKe provlders aids the mitigation of these risks.
Flnancial Risks". Primarily these are ar￿j￿d the good arKI safe m8roJemenl of club funds. Thls 1$ the lir* full
year of our professional beokkwng seNice which, together ￿th the use of the cloud ac£ountiThJ system, h88
Improv&J Internal conlrds in this area. We are vKJilant of vari￿5 frauds and attempts to exlraGt bank account
detall8 whlch we monitor. The prinapal area5 of Income are Memtership. Training, Berthing & Storage, and
Catering & 88r incorfft. We continue to have rfsk relattng to the thk of diversity wthin the club and Ihe ag
profile of the club which we c4Jnllnue lo ￿dreSS.
Physical flsks.. There is a rlsk of flojding which has been minlmSsed by the buSldlrYJ of fadllties at approprlate
levels, and we will continue wlh this approach in t￿ future. We have al80 previously conduct&a
corr¢)rehensive agbe810s survey and remov8J any Irrff*d* and slgnffl￿t threats of CC￿￿MInalK)n.
GOING C￿4CERN
The Trustees tske the view that the levd of ri¥k reserve and c48h hekl Is acceptable given the ￿rrent economlc
dlmate In vknlch the charity 1$ operating. The Trustees have a reasOna￿e expectatlon Ihat there are adequate
res￿rceS to continue in operational existence for the foreseeable fijture. As Sh￿ in our ac£ount5, our cash
po*lion ¢ontsnues to ¢Jet7Knstrate that are able lo lund our revenue exk￿drtUre and Invest in modemisation
of our facilities. We beI￿ve that there a￿ no material uncertainties that call into doubt the charity's ability to
continue and the accounts havg therefore teen Prepar￿ the that the charity Is a golng Con￿n.
INVESTMENTS POLICY
Our reserves have been hda in bank deposit ￿COunt8 as thls prowdes the fle￿b￿ apyoth. In addltion to
the regular deposl account the￿ is a de￿$It account for the development of the boat storaJE and changing
f&ililie8, and rKW there a￿ also fuTrds in a COIF Charilles Dep￿t FuThJ wth CCLA
Page 4

THAMES SAILING CLU8
TRUSTEES. REPOF¥f lcontinuedl
FOR THE YEAR ENDED 311)ECEMBER 2024
STRUCTURE GOVERNAtrKE ANfl MANAGEMENT
CONSTTfirnoN
Con8tltutlonal structure
Tha￿$ Sailing Club. register8J as a Charity cn 20 Novwits 2019. Charity No 1186490 and 18 incorpjrabj as
Charitable Inoxporated Organbsation.
Ch•rbtablb objects and Publlc Bongfft
The Trustees confirm that they have eomplied the duty In Section 4 {4} of the Chari￿.8$ Ad 2011 by referring
to the Charrty Commission's general guidance on public tonef¢t vthen revi￿￿9 the aim and objectives of the
Club and in planning ils fvlure a￿l￿ties.
The oppo¥tunity lo benefit is not reslrthd by any constralnt other th8n our capaaty lo an ar￿￿ty or
se￿￿ at Portsmouth Ro￿, Surbiton, l(r6 4HH.
r Tnjstees have u￿rna￿ re$wn￿bIlity for direrAJ'ng our charity, ensuring that 11 is so￿nt, ￿11 run. and
delivering the charitatle outcorrns for benefit of the publlc for vknlch11 ha8 been set up.
In addItiC￿ to the Constitution. mrye detsll of the OFerab'on is contained in the Rules and By￿￿. These wgre
updated al the AGM July 2023 to reflect changes In organl$ational structure and operabon. The key area of
change wa5 the di5sdution of the 'General Committ88' to be replaced wlh rnre fwssed sutrKommittees, plus
soffe upjallng in other areas,
The Trust￿ at the end of the year and slnce the year end are Set out on the I￿al and adnlnistrative
infom)atK)n page. In 3ddltlon Mr M J K￿e served as Commodore unlll 19 February 2024 and Mr M F Laty sewj
as V￿e Corrnrndore until the appOintr￿n1 of Mr T A E Wilson. Mr M K Palmer, Mr I P Rayner, and Mr B Johncey
8eryed as trustees until 23 June 2024. The post of Rear ComrrTr>S)re (Eglatel remain5 vxant and reswwh'lity
for this Is shared armng trustees arKI merrters arKI is ¢)verseen ty Mr K M Pearson.
Stalemgnt of Truste￿. reBponBlbSlltl•s •nd Managomgnt of TSC
G¢)nWI￿Ore xts as Char of Trustee$ and manages Ihe overall dlrec*lon and cFeratth ofthe Club.
Vlca Commodore responsible for maintaining and developing the water sFKJrt activib'es. Is chair of the Saillrrfj
and SUP subcommittee thich organises and manages all vRter swrt acti￿}￿e5 including trainirKJ, parb'ripatiOII,
and major events such as Battle of The Thames and TSC OF￿ salliThJ regattas, as well as the m•nlgnance of
all club crafL
Ro•r ComTr￿d0￿ IE•tst•).' reswnsitAe ftr the maintenance ofthe * and bulldings.
R••r C(¥nmodor• (Events & Promcllons) acts as chair of the Hous8 sutrthmmittee, respJnsik4e for runnirKJ
events ac11vi￿e3 within the Club such as Tuesday SUPFers. club bcffldirYJ events.
Trna5urnr * as chair of the Finan￿ & Memtership Sutwmmlttee res￿&ble for all day to day finawal
matter5 for Club, the generaticffj of the xc¢)unts, and financial p5anning.
Elected Tntste88 There are up to 4 dected trustees wtrtrjse Te5ponsbilities can vary from tin* to titr£ but hdp
ensure thai the club is dNng towards ts goals and help the Flag Officers on pwticular projects or actiwb'e5.
Cardyn Munday is TTea5urer, Dw'd West is Membership Swetsry, Justin Dunn continues as a general
trustee.
Page S

THAMES &41UNG CLUB
TRUSTEES. REPIJiT lcontinuedl
FOR THE YEAR ENDED 31 DECEMBER 2024
CXiG4NIS4TION
Trustees we generally app(Mnted by the members al AGM, and we appointed for a limrted perioj, in ¥cordar
vAth Chanty guidelines as laid out in the consltution. New trustees, if required, would be fecruiled on a '5klll8
required, basis and ￿Ul￿ be inducted and trainod by attending Trustee meeting$. The Trustees nwt regularfy
arKI, In any event. at least once a year. As long as there are not less than a quorum of trustees. dwsions can te
mad8 by a majwty ol the trustees aTra any or d8uSfv￿ of that majority I)￿orneS a￿tUal and val￿.
TRUSTEES. RESPONSIBIUTIES STATEMENT
The Trustses are resp)ngble prepariry the Tru81ee8' and the financial Statements in ac£ord￿e
applicab￿ Unrted Klngd¢Jm A￿UnlIn9 Standw(Is (United ￿r￿jdoM G￿ralty knepted knunt
Pracb'cel.
The law applicable lo eharib.es in EnglarKI & Wales requi￿ the Trustee8 to prepare financiatr *aternenls for
each finanoal year whkh give a true and fair VEW of tr* state of affairs of the charity and of the Inc£mirg
resources and apFYlcalion of rex￿re89 of the charlty for th* period. In kyeparing these financLal Statements, the
Tru8tees are requlred to..
gelect sultable ￿counting pcddes ￿¢j Ihén ap￿ them con￿$ten￿Y,.
ob9erve the and principles In the Charities SORP.,
make ludgments and a￿oUnting esllmale5 that are reasonabl8 and ￿j￿t
whether applicable UK Accounlng Stsndard6 have keen fc41(yhed, sut4.ecl to any materfal
departures disclosed and explalned in the fina￿￿81 statements.,
prepare the financial statements on the golng conc8rn basis unle88 It is InaFprowate to pre8ume thgt
Ihe charity will continue in OFeralion.
The Tru8te85 are resFortsit4e keeF4ng proper aCtt￿n￿n9 rwds that are Sufficient to sh¢y•V and eyP￿'n the
ch8dVs transaction6 and disGlose with reaSona￿e ￿uraCY at any t)me the financlal P￿lI10n of the charity and
enatje them to en8ure thai the financial st*ment8 comply wth the Chari￿5 Act 2011, the Charty IAcLounts
and Reports) Regulations 2008 and the provlsions of Ihg trust deed. They are a180 responsible for safeguardlrrfj
the assets of the tharty and hence for ￿ng reascfflatAe Step8 for the preventi￿ and ￿et￿tion of fra￿￿ and
other Irregularilkes.
This rep)rt was approwj Truglee3, on
and on t￿lT behaw ty.,
Page 6

TH￿lEs SAILING CLUB
INDEPENDETr￿ EXPlalNEFfS REPORT
FOR THE YEAR ENDED 31 OECEMBER 2024
IM)EPENDENf EXAMINER'S REpoirr TO THE TRUSTEES OF THAMES SAILING CLUB (tho'charll
I report to the dwrity TrLtstees on my exWrir￿0n of the xcounts of th8 charity for th8 year end￿1 31 tknmber
2024.
Thls repJt is mth solety to the charitys Trustees, as a bojy, In wdanc* ￿ Part 4 of the Charities
{kcoun15 and Rep)rtsl Regulatlons 2W8. ￿ work has teen undertaken so that I might sL*e to the charity8
Trustees those matters l am required lo stale to them in an indeFendent examinerfs and for no other
purpose. To the fullest exlent permitted by law, I do not wjt or assurrE re8p)nslbility to anyone other than the
charity and the charitys Trusleeg as a W. for rywork or for this repo
RESPONSIBIUTIES AND BASIS OF REPORT
As the Tntstee8 of the chanty you are r8SFon8lt4e for pYeF4ratic￿ of thè aco)unts In &eordanc8 wth the
requirements of the Charitie5 Act 2011 I'the 2011 Adl.
I rewt In resFect of my examinat￿ of the Gharftys acc￿nts ￿rri￿a wl undw section 145 of 2011 kt and
n carying oui examinats'on I h8ve follfftd 811 the appllcAt4e DIrecti￿8 gNen by the Charity ComnIs￿on
under ￿tIOn 1451511bl of the 2011 Act.
INDEPENDENT EXAMINEW8 STATEMEMr
Y¢JJr attenu(￿ is drawn lo the fact that the charity has prepargd the ar￿Unts in accordan￿ ￿1￿ Ar£￿n￿ng and
Rew)rting by Charfties.. St*ment of ReCommen￿j practi￿ 8ppllcable lo charities preparing their acmunts
accordanee wlh tho FIna￿la1 Re￿￿'r@ Standard appllcable in the UK and Rewbli¢ of Irdand IFRS 1021 in
preference lo the Acojunllng and Reportlng by Charilles.. Statement of Rteomiended Prath"ce issued cfi 1 ADrtI
2005 which18 referred lo in the extant reguLqtI￿S bul has been ￿thdra￿.
l understand that this ha5 been done In order for the accounts to provide a true and fair vlew in accordan￿ with
Generally kcepted Ac£ounling Practlce effectivg for repcrb'ry periols beginning on e¢ after 1 January 2015.
I have completed my examination. I can Gonflm that no matters have corrt to my attonlion in O￿n￿tiOn
Ihe examination giving cause to believe that Sn any material respert
accounting records were not kept In resFect of the chaty as wuired by ￿l¢fi 130 of the 2011 Art or
the aecounts do not aecord wlh those records., or
the xcounts do not c¢)mply wth the applicab￿ requirements ccKttming the form contsnt of
accounts set out in the Charits"es (Accounts and Reports) Regulations 2008 other than any requirement
that the a￿￿ntS gNe a 'lrue aTrJ faif wew thich is not a ryotter considered as part of ￿ independent
examinalh?n.
Page 7

THAMES &41LING CLUB
INDEPENDEKf EXAMINEifs PEPORT IcontlrnMII
FOR THE YEAR ENDED 31 DECEMBER 2024
I have no concerns have cc*rn ￿$5 no other matters in connection wth the examination lo Yknich
att￿tion slKJuld te draym in tris reFUt in order to enable a sY￿r understaTrJing of the a¢xounts to be reachgj.
SlgMJ'.
Dated.. 27 W 2025
Robin John, FCA CTA
VELLDEN TURNBULL UMITED
bany H￿Se
ClarenryJnt La
Esher
Surrey
Kr10 9FQ

TFWaES SAILING CLUB
STATEMENT OF FWNCIAL ACTiiffnES
FOR THE YEAR ENDED 31 DECEMBER 2024
Un￿stri￿ad
funds
2024
Total
fundg
2024
Total
fund5
2023
INfOME FROM:
Donatlons and legadBs and grants
1.649
1,649
1.537
Charita￿e advities
Trading xkn"vikn"es
1r+ve¥trrt￿1&
88.703
53,616
2,528
88,703
53,616
2.528
101,518
49.974
1,436
TOTAL INCOME
146,
146.
154,465
EXPENDITURE
Direct expenditure
IndifKt expendlture
77,004
41,W28
101,S53
41.814
41,828
TOTAL EXPENDITURE
118,832
118,832
143,367
NET INCOME BEFORE OTHER RECO(*ISED GAINS AND
LOSSES
NET MOVEME￿ IN FUNDS
27,664
27,664
27,864
27,664
11,098
11,098
RECONCIUATION OF FUNDS:
T¢)tal funds brought fomard
1,1¥2,074
1,192,074
1,180,976
1,219,738
1.219,738
1.192.074
TOTAL FUNDS CARRIEO FORWARD
The notes on pages 11 to 19 form part of these finandal Staten￿nts.
P4e9

TF14MES SAJUNG CLU8
BALANCE SHEEr
AS AT 31 DECEMBER2024
2￿24
2023
FIXED ASSETS
Tangille assets
CURRE￿ ASSEf8
Stocks
08btors
Cash al bank and in h￿d
1,020,076
1,026,429
2.266
10,487
2fJ),888
3.450
12,323
165,847
10
213,639
181,&0
CREDITORS: arn￿nts fallir4J due vhthln
cne year
11
(13,9771
115.9751
NET CURRENT ASSET8
199,￿2
165,645
1,219.738
1.192,074
CHARITY FUNDS
Unrestrtcted funds
12
1.219.738
1,192,074
TOTAL FUNflS
1.219,738
1,192,074
The finandal 8tatgmènts Nlere apwoved by Tru*es on
and dgr*d on thdr teh0￿, by..
Mf VLat
025 ',? 47>mi
',hYra4>e
Trea8uror
The notes C￿ pages 11 to 19 fomi wt olthe8e flnancxal statenwnts.
PaJe 10

TFL4MES SAILING CLUB
NOTES TO THE FINANCIAL STATEMEr￿s
FOR ThE YEAR ENDED 31 DECEMBER 2024
ACCOUtrrnNG POLICIES
1.1 Basis of pryratlon ol financlal statements
The financial statements have been prepared to give a 'true and fairf view and have departed from
the Charities IAccounts and Rewrtsl Regulations 2008 onty to the extent fquired to provKSe a 'true
fa'rf view. This departure has involved followng the Charities SORP IFRS 102} published on 16
Juty 2014 rather than the Ac£ounb"ng and Repo￿ng by Charity'e5.' Statement of Reccmmended
Pr*th effective from 1 A￿71 2005 which has sin￿ been withdr￿.
The fIna￿l￿ statery*nts have teen prep¥èJ under the historical cost conventtran wth items
reccgnised at cost or transathon unless otherwse stated in the relevant notes to these
acojunls. The finandal st*rrEnts have been prepared in acc£Jrdartt wlh the Statement 91
Recommended Practice.. AeLounting and Reporting by Charities preparing their accounts In
accordants with the Financial RepgTting Standard ap￿ICable in the UK and Republic of Ireland IFRS
1021 issued on 16 July 2014 and Financial Reporting Slandafd appiicable in the United JQngdom and
Republic of Irdand IFRS 102) a)d Charibes Act 2011.
Tharr￿S Saillng Club consltutss a wbllc 8ntty 86 defined by FRS 102.
The flrrarKlal statement8 are pre8enl&J in sterfing vknkh 18 the funthn81 currency of the charity and
rourKled to the nearest £1.
12 Income
Al Ir￿Me is reccqnised onee tr* charity has entitlement to the income, it is probable
Income wll be rec4veJ and ￿ affount of irKonp receivable can be rr￿Sure￿ ￿lIab￿.
For leg￿e5, enlillernent 18 taken as the earfier of the date on %thich eiltrpr. the charity is mre that
probate has been grrnled, the estate hgs been flnalised and notrficalion has been by the
executorfsl to the Trust that a dlstrfbution will be made, or vknen a distri￿1￿ 1$ rece￿ed from the
estsle. Recdpt of a legacy, in vthole or in part, is only considered probable when the amount can be
mea$ur&l rèliably and the ch8rity has teen notified of the executc¢s inlenlion lo make a distribution,
Where l&J&ies have teen notified to the dBrity. or the chartty is aware of the granting of probate,
and the crilerla for iru)me recognition have not teen met, then the legacy is trea￿ a5 a conlingenl
asset disdosed rf material.
InveStn￿nI income LI accounbj for In the in vthich the charity is enfjU&J to recave it.
PaJe11

THAMES SAILING CLUB
NOTES TO THE FINANCIAL STATEMEPWJ
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOU1￿ING POLICIES Icontlnu•dl
1J Exp•ndituYe
Expenditure is recogni￿1 On￿ there is a legal or cthstruclive oblKJallon to transfer econon
beneffil lo a third paty, it is probable that a transfer of econow4c benefits will be required in
Sett￿ment aThJ the ￿)Unt of the oblfvJation can bg r￿asur￿l rel*abty. Expend(ture is classified ty
tivty.
Fundraising costs are those incurred in 8eeking vduntary c￿tributiO￿ and do not tr￿l￿de the costs
of dlsseminaling infom811c￿ in support of the charitable aCtivrt￿s. Support costs are th08e costs
incurred dlrectly in support of experKliture on the objects of the charity. Govern￿ costs are thoge
Ir￿Urred In ￿nneth"on with &Jministration of the charty and compl1an￿ wth ¢onstilLrtK)nal and
statutory rffjuirenpnts.
C08ts of generatlng fuTrJs are (>Jsl8 Incurred in attrath'rwj vc4untary inoime, and thoge incurred In
t￿￿Ing &tivTrUes that raise funds.
Charliable and Governa￿ costs are eogts incufred on the charitys operattJn8, induding
supwrt cost5 and costs relating to the 9)Vernan￿ of the chamty aWtior￿d to charIta￿e actr'vities.
AJI exFendi￿re is induslve of Irrecoverab￿ VAT.
1A Tanglbl• fix•d a•￿ts and daproclatk
DeprttialI￿ is not provided on tho freehold propety %thlch ly fijlty Thintairtsa and revdu&J on
regular bags by the Trustees.
A review for Inyirment of a fixed asset Is earried out if events or changes In drcUmstar￿e¥ indicate
that the rArryirrfJ value of any fixèJ asset may not be recoverable. Shortfalls befv￿n the carying
of fixed as8ets and thwr recoverable anK)unts are rwnised as inyaimients. Impaimwnt
losses we T￿nise￿ In the stslemenl of finarrial activit￿.
On the transfer of assets from the Thar￿8 Sallirrfj Club ty its rremters lo the ch￿ty, the Charity
vdued the freehdd propety to its faif value which wkl be nwsured reliabty. TrÈ revaluaty'ong
are made guffiaent regularty to ensure that the carrylng armunl does not differ materially from
that￿Ich would be determined using fair value at the er¥J of the reporting peritsj
Tangible ftxed assets are carrted at e£Jsl. not of dewecialion and any provision for ImpalrmenL
Depreaation Is not charged on freehdd land. Depreciation is provided al rates calculated to write off
the cost of fixed assets, less their eslimaled ￿SiduaL value, over their expected usehjl lives on Ihe
foll(Miry bases,,
Freehold propety
Plant and M￿1n￿Y
Fixture5, flttirvjs and equipment
Safety boats
Club boats and be￿d8
not dePre￿atsd (see ncts ab)vel
10¥• p.a straiqht line
20Vfr p.a straight line
10% p.a 51raight lir
20Yo p.a strawJht lir
1.5 Intefg$1 r9¢9ivablo
Interest on funds held on depc6il is included vknen receiv*Jle and the amwnt can be nwred
reliabty by the charity,. this is normaly upon notific81ion of the Interest paid or payabbe by the &ink.
PaJe12

THAMES SAILING CLUB
NOTVJ TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNfiNG POLICIES (contlnued)
1.6 Stocks
Stcrks are valued al the lower of c￿t ar￿ net reallsable value after makirg due alovance for
ob5018ts and slow-moving stcd(s.
Trade aNI other debtots are re￿3nIsed at the settlement armunt after any trade dlseount offerog.
P￿pay￿entS are valued * the amount prepaid nel of any trade discounts ￿e.
1.8 Cash al Bank and In hand
Cash at bank and In hand ir￿1￿￿e3 cash and short tem hlghty liquid InVeStn￿lS wth a Short
maturty of Ihree months or less from tha dats of acquisition or opening of dep)gt or simllar
account.
1.9 Crnditorn and Prov￿1￿
Creditors and provisths aro r8(>Jgnlsed sthere the charity has o pregent obligalon resuknng from
past event that wll prctsbly result In the transfer of funds to a third p* and the amount due to
sett￿ the obllgatton can be measured cf eskn"nKqled reliab￿. Creditors and prowsions are normalty
reGognlsed at Ihdr setUerr*rt amwnl after allwrvj for and Ir&Je disccunts due.
1.10 Govemmonl grant•
Govwnrrtnt gr8nls relalng to tangible fixtrj a88ets are treated as deferr&J Inojmg and released to
the $latemenl of finanaal activities over the exFrfted L18eful I￿ of the assets wncefr￿. Other
grants are credrted to the statement of financlal ath'vib"es as the related &xpendilure 15 incuffed.
1.11 Fund xcountlng
General fundg are unrestrieted funds ¥thich are availab￿ for u8e al Ihg discretson of the Trustees in
fvrtheranee of the general oblectlves of the charity and which have not teen degignaled for other
purpose8.
1.12Taxatlon
The Thams Sailirg Club 18 reccgnised as a charity by HMRC arKI tenefits from exeriw'on on
income and gains to the extent they are applied tr Charftable purposes.
1.13 Flnanclal Instrumoni•
charity only has finanrAal a￿ts and financial liabilftie8 of a kind that qualify as basic financial
Instru￿￿nts. Basic fina￿[al instruments are initially recognised at tranwtion value and
subsequenlly measur&1 at their settlement value.
PaJe 13

TFL4MES SAJUNG CLUB
NOTES TO THE FINANCIAL STATEMEKrs
FOR THE YEAR ENDED 31 DECEMBER 2024
INCOME FROM D(XIATIONS AND LEGACIES AND GRANTS
Unreslricted
funds
21r24
Total
funds
2023
2024
ttjnadons
1.649
1.537
Total 2023
1,537
1,537
CHARrrABLE AND TRADING ACTivmES
2024
2023
CharfrAble ath'vibes..
Member¥hip, tralnkng, 8thge, 8vents and fundraislng ifwm
88.703
101.518
Tradlng xt&￿ties..
Club hire, calerir¥J bar
53,816
49,974
Tot81
142,319
151,492
EXPENDITURE ON DIRECT ACTNmE3
2024
2023
rxt expendllure on Gharitable activiti85
'r&t èXFendllure on fundralsiryj adivits'es
DIr￿t exwsiture on other xtlwties
47,397
62,160
1,417
37,976
29,607
Boat operating c#sts
Trainir
7.678
38,919
10,953
51,207
Sub total
46,597
e2,1PAI
Bc*)k8 and Merchandise
Bar and ￿tering eosts
Main d￿1¢P￿t F&n
1,417
31,976
6,0￿)
30.407
Total
101,553
Paje 14

THAMES SAILING CLUB
¥)TES TO THE FINANCIAL STATEMEtrirs
FOR THE YEAR EN[￿0 31 DECEMBER 2024
INVESTMEKf INCOME
Unrestricled
fund8
2024
Total
Total
funds
2023
2024
Bank interest reLe￿￿
2,528
2,528
1,436
Total 2023
1,436
ANALYSIS OF OTHER EXPENDfwRE ON CHARITABLE AGllvmES
Unre8trfthd
funds
2￿24
Total
furxls
2024
Total
2023
C*her exp8ndfture cn athvities18ee note 61
41,828
41,828
41,814
Total 2023
41,814
41.814
SUPPORT AND GOVERNANCE COSTS
Unrestrfcted
funds
Totsl
2024
Totol
2023
Fjjpwt costs
Offi'ce oJ8ts
Premiges costs
5,950
29.182
5,950
29, 182
5.054
33,771
Legal arvj wofessicnal ¢>)$15
6,6
6,6
2,989
41,828
41.828
41,814
T¢)tal 2023
41,814
41,814
Page 15

THANES SAILING CLUB
NOTES TO THE FINANCIAL STATEMENrs
FOR THE YEAR ENtED 31 DECEMBER 2024
INCONEI(EXPENDITURE>
Th18 55 st*d aftw charging..
2024
2023
Deprwation oftsngible fixed assets..
. owned ty the charfty
lThJependenl Examinerfs fees
7,898
2,4
7.414
2,376
ring the year, no Trustees recelved any remuneraUon12023- £NILI.
DJring the year, no Trustees r￿1Ved any benefits in kind12023- £NILI.
thjring the year, 412023 - 61 Trustee5 rewv&J reIrntrusen￿nt of purchase8 aThJ dlrecl costs made c
ehalf of the Club totalling £1,04412023 - £1,557).
TANGIBLE FIXED ASS￿3
Flxtuw,
Freehotd
fltt+ngs and
proFety equipmènt Safety L￿ts
Club toats and
t¢ards
At 1 January 2024
Additions
tJsp)sals
1,0￿,000
39,044
1,545
2fj,461
42,423
1,107,928
19,9511
19,9511
At 31 Decem￿ 2024
1,00),000
40,589
26,461
32.472
1,099,522
Doprnclatlon
At 1 January 2024
Charge fcf the year
Cn diswsals
30.067
3.121
20,
1,237
31,396
3,540
19,9511
81,499
7.898
19.951)
At 31 Oecember 2024
33,188
21,273
24.985
79,446
Ngt book value
At 31 Decanlw 2024
1,OCK),000
7,401
5,188
7.487
1,020,076
31 December 2023
1,000.OCQ
8.977
6,425
11,027
1,026,429
Fregh¢*J proFerty which had an Q￿ginal cost of £146,210 has vaued at £1,OW.000 on an open
market value basis by the Tru81ee8 as at 31 Dec4mber 2024.
STOCKS
2024
2023
Bar stc¢k for resa
2,266
3,450
16

THAMES SAIUNG CLUB
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECE￿ER 2024
10. DEBTORS
2024
2023
Debtors
PreP3yn￿nts and ￿rUed incfjme
6.557
3,930
8,320
4,003
10,487
12,323
11. CREDITORS: Am￿nts falllng duo wlthln ono y￿r
2024
Credltrs
Cxher creditors
AcLruals a￿1 defeffe(I Irtome
4,428
7,195
8,585
7,816
13,977
15,975
12. STATEME1￿ OF FUTrA>8
STATE￿NT OF FUNDS. CURRETrif YEAR
Bdar£e at 31
Translern Decen*er
Inloul
2024
Balance at 1
January 2024
Incfjme
Expenditure
Doslgnatad fund•
De$lgnat&4 Funds- all funds
1,04S,636
{6,353} 1,039,283
G•n•rnl fundB
General Funds- all fund8
146,438
146.495
1118.832)
6,3S3
180,455
Total Unresthc￿d funds
1,192,074
146,4
1118,832)
1,219,738
Totsl of funds
1,192,074
146,496
1118,8321
1.219,738
The transfer of fvnds frorn the gereral fund to a deS￿nabl furKI by thè Trustees relatss to fix&J assets of
£1,020,076 and a (Jesignated fuThJ of £19.207.
Page 17

THAMES SAILING CLUB
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DEGEM8ER 2024
12. STATEMEKf OF FUNDS Iccffjllnu
STATEMEKf OF FUND8- PRIOR YEAR
Balance at
1 Januwy
2023
Balance at 31
Transfers December
inlout
2023
Income
Expenditure
Oesignat•J Funds- all funds
Ger￿ra1 FurKls- all funds
1,045,636
1.045.636
146,438
1,180,976
154,465
1143,367} I1.045,6￿)
T¢)tal of fvnds
1,180,976
154,465
1143,367
1,192,074
SUPbYaARY OF FUNDS- CURREKf YEAR
Balance al 31
December
2024
Balan￿ at 1
J8nuary 2024
Transfers
i￿olrt
Ino)me
Expen¢J((ure
De￿gnat￿￿ fvnd8
General funds
1.lJ45,6&8
146,438
16.3531 1,039.283
6,353
180,455
146,496
1118,832)
1,192,074
146,496
1118,8321
1.219,738
Balance al
1 Jenuary
2023
Balance at 31
Transfers Decemter
Inloul
2023
IrKorre ExFenditure
Deslgnatej funds
General fund8
1,045,636
1143,3671 11,045,636
1.045,636
146,438
1,180,976
154,465
1,180.978
1 $4.465
1143,3671
1,192,074
1093ets and lithlloes ￿thIn the CIO arg allc¢ated as strwi in note 13.
PaJe 18

THAMES SAILING CLUB
NOTES TOTHE RNANCIAL STATEMEKrs
FOR THE YEAR ENDED 31 DECEMBER 2024
13. ANALYSIS OF NEf ASSEfs BEThEEN FI￿Ds
ANALYSIS OF NEf ASSEfs BETWEEN FUNflS- CURRENT YEAR
Un￿Stricted
funds
2024
T￿gI￿e fixed a898ts
Current assets
Credltors due ￿￿thIn one year
1,020,076
213,639
113,977
1.219,738
ANALYSIS OF ASSETS BETWEEN FUNDS. PIIIOR YEAR
Unre8trlcted
funds
2023
Tangl￿e fixeAI assets
cUr￿t assets
Creditors due witNn om ye
1,026,429
181,620
115,9751
1,192,074
Therethwe no relaw paty transactions ather than di8cIoged in the rth8 to the actounts.
1& COKMLLING PARTY
There is no U￿.rnate controlling paty.
p￿19