FALCON BOAT CLUB TRUSTEES REPORT
YEAR ENDED 31 AUGUST 2024
Charity Registration number
1186921
Company Number
CE019981
Registered Office Falcon Boat Club Meadow Lane Oxford OX4 4BJ
Independent examiners
Richards Associates Limited North Lodge Hawkesyard Armitage Lane Rugeley Staffordshire WS15 1PS
Trustees acting during the year
A list of the Trustees of Falcon Boat Club is given at the end of the trustees report.
The Board of Trustees is authorised to recruit and appoint new Trustees to fill vacancies as and when necessary.
Structure, Governance and Management
The charity is a Charitable Incorporated Organisations and is generally governed by the rules and regulations of the Charity Commission. The charity also has its own constitution, governing the decision making and responsibilities of the trustees.
The trustees meet at a formal meeting at least once per quarter. Trustees are usually appointed for a period of three years and can be re-appointed twice. The number of serving Trustees will be no less than 5 and no more than 12.
Objectives, activities and public benefit
The charity supports rowing and kayaking activities of local community groups within the Oxford area. The charity provides rowing, kayaking and canoeing facilities to the general public for the benefit of those who by reason of their youth, age, infirmity, disability or social and economic circumstances have need for such facilities.
To provide assistance in the organisation of events or the provision of facilities to education providers to enable pupils to take part in rowing, sculling and canoeing activities.
The trustees have reviewed the Charity Commission's guidance to report on public benefit and the charity's aims and objects are consistent with this guidance. All the activities undertaken during the year were for public benefit.
Registered Charity Number 1186921 Page 1
FALCON BOAT CLUB TRUSTEES REPORT YEAR ENDED 31 AUGUST 2024
Achievements, performance and looking ahead
The Trust has provided and aims to ensure continued provision of canoeing and kayaking facilities for those in the Oxford area who are in education and wish to learn these skills and would benefit from it.
The charity continues to receive funds under the gift aid scheme.
The future
Falcon Boat Club was founded in 1869, which makes it one of the oldest rowing clubs in Oxford. Throughout its history, the Club has provided a place for local men and women to come together, make friendships, learn new skills and keep fit. In recent years the club has grown enormously with the membership spreading across a wide age range and now the rowers have been joined by kayakers and canoeists. For the last 60 years our boathouse has been a one-storey wooden building. This was no longer large enough to support club activities and the building has now been rebuilt and was opened to members during the year. The new building provides increased boat storage, better changing facilities and important space for social gatherings and exercise. Membership is at an all time high of approximately 500 so the future is looking very good. Our aim is to continue to give members of the local community access to an active lifestyle through watersports. The new boathouse enables us to offer year-round sporting programmes with a mixture of land-based and water-based activity. We hope to build on our community engagement, working with local schools, disability groups and increasing participation of ethnic-minority groups.
Results for the year
The results for the year are contained in the accounts attached to this report, and have been approved by the trustees.
Policy on reserves
Scope, Definition and Purpose
The trustees have reviewed the charity's reserves policy to ensure it complies with the guidance issued by the Charity Commission.
Reserves are held by the charity to cover the day to day running costs can be met in the coming year to ensure continuity of service to it's members and service users.
Policy aims
The trustees believe that this level of reserves is prudent and necessary to ensure that the club can run efficiently and meet future needs.
General contingency reserves to cover costs of replacement equipment and unforeseen maintenance costs of the building and the equipment.
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FALCON BOAT CLUB TRUSTEES REPORT YEAR ENDED 31 AUGUST 2024
Policy aims continued…
In the event of the reserves falling significantly below the target level, the trustees will aim to restore the reserves as soon as possible by increasing fundraising and possibly, increasing fees.
The trustees will not, however, take any steps that might call into question the ability of the Club to continue as a financially viable operation in the long term.
Risk management
The trustees understand their responsibility for monitoring and controlling the financial and operational risks to which the charity is exposed to.
Statement of Trustees responsibilities
The trustees are responsible for preparing the trustees annual report and the financial statements in accordance with applicable law and United Kingdom Accounting standards (United Kingdom Generally accepted Accounting Practice)
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at the time the financial position of the charity to ensure that the financial statements comply with the Charities Act 2011 and FRS102 SORP.
signed Chairman
Dated: 28/10/2024
Registered Charity Number 1186921
Page 3
FALCON BOAT CLUB TRUSTEES REPORT YEAR ENDED 31 AUGUST 2024
TRUSTEE MEMBERS AS AT 31 AUGUST 2024
Chairman: Nicholas Barnett
Treasurer: Jeffrey Bethray
Trustees: Nicholas Barnett Jeffrey Bethray Patricia Nash Nicholas Herbert David Salvesen Sadiq Abassi (Appointed 15/10/2023) Camilla Scarf (Resigned)
Registered Charity Number 1186921 Page 4
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF FALCON BOAT CLUB YEAR ENDED 31 AUGUST 2024
We report on the accounts of the charity for the year ended 31 August 2024, which are set out on pages 6 to 10.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
to follow the procedures laid down in the general directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with section 130 of the 2011 Act; and
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
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.
Anna Richards FCA FCCA Richards Associates Limited Chartered Accountants Hawkesyard, Armitage Lane Rugeley Staffordshire, WS15 1PS
Date:
Registered Charity Number 1186921 Page 5
FALCON BOAT CLUB INCOME AND EXPENDITURE FOR THE YEAR ENDED 31 AUGUST 2024
| Receipts Gift aid Coaching income Memberships Grant income Donations Other sales income Sale of assets Total receipts Payments Purchases Coaching costs Rent of land Rates and water Insurance Light and heat Affiliation Travel Repairs Waste collection Cleaning Computer running costs Sundry expenses Accountancy Telephone and broadband Clubhouse Opening costs Depreciation Loan interest Total expenditure Excess receipts over payments Funds brought forward Funds carried forward |
Unrestricted Restricted Total £ £ £ 4,399 - 4,399 52,332 - 52,332 97,634 - 97,634 1,599 - 1,599 86,971 - 86,971 14,475 - 14,475 66 - 66 257,476 - 257,476 15,661 - 15,661 46,694 - 46,694 7,583 - 7,583 1,309 - 1,309 9,364 - 9,364 3,752 - 3,752 2,889 - 2,889 - - - 22,217 - 22,217 1,461 - 1,461 4,620 - 4,620 187 - 187 751 - 751 980 - 980 255 - 255 - - 68,016 68,016 4,886 - 4,886 190,625 - 190,625 66,851 - 66,851 1,207,778 428,444 1,760,516 1,274,629 428,444 1,827,367 2024 |
2023 £ 4,625 35,680 84,129 1,500 92,814 13,094 50 |
|---|---|---|
| 231,892 11,316 38,600 6,417 528 6,877 7,839 2,723 270 12,529 1,241 2,019 206 116 720 721 1,562 33,643 7,988 |
||
| 135,315 | ||
| 96,577 1,663,939 |
||
| 1,760,516 |
Registered Charity Number 1186921 Page 6
FALCON BOAT CLUB
BALANCE SHEET AS AT 31 AUGUST 2024 Company Number CE019981
| Note Fixed assets Tangible fixed assets 5 Current assets Debtors 6 Cash in hand and at bank Current Liabilities Trade creditors Loan 7 Accruals Net Current assets Long term Liabilities Loan 7 Total assets less long term liabilities Charity funds Unrestricted funds Restricted funds 8 |
2024 £ 1,664,856 29,085 167,360 196,445 14,256 25,000 840 40,096 1,821,205 20,833 1,800,372 1,371,928 428,444 1,800,372 |
2023 £ 1,677,770 17,233 117,030 |
|---|---|---|
| 134,263 6,958 25,000 720 |
||
| 32,678 | ||
| 1,779,355 45,834 |
||
| 1,733,521 | ||
| 1,305,077 428,444 |
||
| 1,733,521 |
The notes, as set out, on page 8 form part of the financial statements.
Approved by the Board on 28/10/2024 and signed on their behalf by behalf by
Nick Barnett
Registered Charity Number 1186921 Page 7
FALCON BOAT CLUB NOTES TO FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024
1. Statutory information
Falcon Boat Club adopted Charitable Incorporated Organisation status on 12 December 2019. The charity's number and address can be found on the charity information page.
2. Accounting policies
Basis of preparation
The charity constitutes a public benefit entity. The financial statements have been prepared in accordance with accounting and reporting for 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) issued on 16 July 2014 (as updated by Bulletin 1 published on 2 February 2016), (Charities SORP FRS 102), the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015. The financial statements have been prepared under the historical costs convention and give a true and fair view.
Income
All income is included in the statement of financial activities when the charity is entitled to the funds and they can be measured with some certainty.
All donations grants and other incoming resources have been accounted for gross and receivable as long as they are capable of financial measurement. The value of services provided by volunteers has not been included.
Tangible fixed assets
Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.
Plant and machinery 10% straight line Fixtures and fittings 25% straight line Buildings Depreciated at 2% per annum
Leases
Rentals applicable to the lease of the land are charged to profit and loss account as incurred.
Government grants
Government grants are recognised when there is reasonable assurance that the entity will comply with the conditions attaching to the grant and the grant will be received. Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate
Going concern
At the time of approving the financial statements the trustees have reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future.
The trustees continue to adopt the going concern basis of accounting in preparing financial statements.
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FALCON BOAT CLUB NOTES TO FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024
2. Accounting policies continued… Financial Instruments
The charity only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade debtors, other debtors, trade creditors and other creditors.
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 specific purposes as laid down by the donor.
3. Average number of employees
The average number of employees during the year was Nil (2023: Nil)
4. Trustees
No members of management received any remuneration during the year in their capacity as a trustee.
No trustees received expenses or remuneration in the year.
No trustee had any personal interest in any contract or transaction entered into by the charity during the year.
5. Assets
| Cost 1 September 2023 Additions Disposals 31 August 2024 Depreciation 1 September 2023 Charge On disposals 31 August 2024 Net Book Value 31 August 2024 31 August 2023 |
Plant and Fixtures Machinery and fittings Buildings Total 312,347 12,806 1,440,694 1,765,847 35,723 20,408 - 56,131 (1,715) - - (1,715) |
|---|---|
| 346,355 33,214 1,440,694 1,820,263 |
|
| 84,337 3,740 - 88,077 33,674 5,528 28,814 68,016 (686) - - (686) |
|
| 117,325 9,268 28,814 155,407 |
|
| 229,030 23,946 1,411,880 1,664,856 |
|
| 228,010 9,066 1,440,694 1,677,770 |
The charity owns a lease for the land. There is a 25 year lease with 21 years remaining on the lease.
Registered Charity Number 1186921
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FALCON BOAT CLUB NOTES TO FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024
| 6. Debtors Trade debtors Prepayments 7. Long term loan Due in less than 1 year Due in 1-2 years Due in 2-5 years |
2024 £ 17,731 11,354 29,085 2024 £ 25,000 20,833 - 45,833 |
2023 £ 6,080 11,154 |
|---|---|---|
| 17,234 | ||
| 2023 £ 25,000 25,000 20,834 |
||
| 70,834 |
The interest on the above loan has been paid by Sport England these amounts have been included in donations in accounts. This loan is unsecured.
8. Movement in funds
| Unrestricted Restricted |
Transfers At Incoming Outgoing between At 01.09.23 Resources Resources funds 31.08.24 1,305,077 257,476 (190,625) - 1,371,928 428,444 - - - 428,444 |
|---|---|
| 1,733,521 257,476 (190,625) - 1,800,372 |
The restricted fund are donations received for the construction of the property.
Registered Charity Number 1186921 Page 10