Charity registration number: 1187003 **ILFRACOMBE PILOT GIG CLUB TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** Cloud Accountancy Solutions Ltd **Ilfracombe Pilot Gig Club Contents** ||**Page**| |---|---| |Trustees' Report|| |Independent Examiner's Report|3| |Statement of Financial Activities|4| |Comparative Statement of Financial Activities|5| |Statement of Financial Position|6| |Notes to the Financial Statements|7—10| CHARITY COMMISSION FOR ENGLAND AND WALES Trustees. Annual Report for the period From 0110812024 To 3110712025 Charfty name: Ilfracombe Pilot Gig Club Charlty registratlon number: 1187003 Objectives and Activities SORP refererKe Summary of the purposes of the charity as set out in its governing documènt P8r8 1.17 To promote community participalion in healthy recreation by providing facilities to participate in the sport of sea rowing, in articular Iradilional The Trustees have been guided by the charily commission advice on public benefit. Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. Statement confiming whether the truste6s have had regard to the guidanc8 issued by the Charity Commission on public benefit P8ra 1.17 and 1.19 Paral.18 The dub has been able to run in ils normal capacity this year, with training sessions both on and off the water. We have also run taster sessions or rowing sessions to entice new members. Addltlonal informatlon loptlonal) You ma Ghoose to include further statements where relevant about: SORP reference P4rg 1.38 Policy on grant making Policy on social investment including program related investment Paro 1.38 Contribution made by volunteers Para 1.38 Other Achievements and Performance SORP reference Increasing club membership to - 100 fflembers with roughly a 50150 split between competitive and recreational squads. Entering numerous competilive events, most notably strong results across male. female, A, B and Vets I Super vets crews at the World Pilot Gig Championships. Strong engagement across local North D8von clubs, hold an annual regatta promoting Ihe club and area, although for the 3 year running the weather has meant wè had to cancel the evenl. We did still hold a successful raffle raising over £2.500. Junior squad making a good progress with over 12 regular attendees, plus this year we have introduced some off-the-water training using newly purchased Concept2 rowing machines. Summary ofthe main aGhievements of the charity, identifying the difference the charity's work has made to the Gircumstances of its beneficiaries and any wider benefits to society as a whole. PBfA 1.20 Additional informatlon {optional You ma choose to include further statements where relevant about.. New COn￿pt2 machines identified as needed to support off-the-water training. Lifejackets to support growing numbers needed to be replaced or refurbished. New wooden boat to be ordered. Deposit paid. new boat ex ecled Ma 2027. In January 2025 members held sponsored 24hr row. with the aim of raising funds for 6 Concept2 rowing machines. Over £3,500 was raised and the club paid the rest for a very well received addition to the club. Achievements against objectives set P8r8 1.41 Perfomiance of fundraising activities against objeclives set P•rn 1.41 Investment perfomian against objectives P•rn 1.41 Olher Financial Review Review of the charity's financial posib'on at the erKI of the eriod Statement explaining the policy for holding rèserves stating why they are held P8r8 1.21 Para 1.22 The annual running costs for the club are £4,500, this includes insurances £2,300 and rent of the Water Sports Centre £1,800. The club will hold approx. £5,000 in reserve to support repairs to oars and or boats during the racing season. All remaining funds will be used lo support the overall cost of a new wooden NIA NIA Amount of reserves hekl Reasons for holding zero reserves Details of fund materially in deficit Explanation of any uncertainties about the harity continuing as a going concern Para 1.22 Par8 1.22 Para 1.24 None Para 1.23 Additional Informatlon loptional You ma choose to include further statements where relevant about.. Principal sources of funding are membership fees, fundraising events and charitable donations from local businesses. The charty's prinapal sources of funds (including any fundraising) Para 1.47 Investment policy and objectives including any social investment policy adopted Para 1.46 A description of the prin¢ipal risks facing the charity Para 1.46 othèr Structure, Governance and Management Description of charity's trusts.. Type of governlng document trust deed, ro al charter Para 1.25 Constilulion How is the charity constituted? (e.g unincorporated association, CIO Trustee selection meth¢Jds including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees Para 1.25 cio P814 1.25 By election at annual AGM Addltional information (optional) You ma choose lo include further statements where relevant about.. Policies and procedures adopted for the indurtion and training of trustees 1.51 The charity's organisalional structure and any wider neI￿ork with which the Charity works P•rn 1.51 Relationship with any related parties Para 1.51 other Reference and Administrative details Charit namè Other name the chari uses Re istered charity number Charity's principal address Ilfracombe Pilot Gi IPGC 1187003 Ilfracombe Watersports Centre Larkstone Lane Ilfracombe EX34 9FQ. Club Names of the charlt trustees who mana e the charit Name of person lor body) entitled to ppoint trustee lif any) D3tes acted if not for whole year Trustee name Office lif anvl Recreational Rowers rep Mens captain Bosun Bosun Secreta Paul Fuller Paul South lake Liversedge Tom leffery Rachel Rudd Robert Thompson Lowenna Arnold November 2024- present October 2023 - present January 2021- present January 2025- present June 2025 - present /Membership President Ladies captain Juniors captain + Safety Officer Janua 2020- present October 2024- present David Waters David Llversedge Malcolm Morris Tanya Betts Stuart Dagley Janua 2020- present Welfare offlcer Treasurer Treasurer Chair October 2023- present October 2023-June 2025 June 2025- present January 2021- present io Cor orale tru5tees- names of the directors at the dale the re Dlrector nam• ortwasa roved Name of trustees holding title to propety belonging to the chartty Tmstv nam• D•t•8 act•d If not for whol• ¢ar Funds held as custodian trustees on behalf of others Description of the assets held in this capacity Name and objects of Ihe charity on whose behalf the assets are held and how this falls within the custodian charity's objects Details of arrangements for safe custody and segregation of such assets from the charrty's own assets Additlonal Infomiation (optlonall Names and addresses of advlsers {Optional Infomiation) Type of Name Address adv158r Name of chief executive or names of senior stsff members (Optlonal infomiation) Exemptions from disclosure Reason for norFdisGlosure of ke rsonnel detai18 Other o tional information **Ilfracombe Pilot Gig Club Independent Examiner's Report to the Trustees of Ilfracombe Pilot Gig Club For The Year Ended 31 August 2025** I report to the trustees on my examination of the accounts of Ilfracombe Pilot Gig Club (the Trust) for the year ended 31 August 2025. ## **Responsibilities and Basis of Report** As the charity trustees of the Trust 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 the applicable Directions given by the Charity Commission under section 145(5)(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 that in any material respect: 1. accounting records were not kept in respect of the Trust as required by section 130 of the 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 contents 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. Cheryl Manning FFA 18/02/2026 94 Lower Cross Road Barnstaple Devon EX31 2PJ Page 3 ## **Ilfracombe Pilot Gig Club Statement of Financial Activities For The Year Ended 31 August 2025** |**Notes**
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
**3**
Charitable activities:
Pilot Gig Rowing
**EXPENDITURE ON:**
Raising funds
**5**
Charitable activities:
**5**
Pilot Gig Rowing
Other
**NET INCOME**
Transfers between funds
**12**
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS:**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**12**|**Unrestricted**
**funds**
**£**
10,093
16,811|**Restricted**
**funds**
**£**
-
-|**2025**
**Total**
**funds**
**£**
10,093
16,811|**2024**
**Total**
**funds**
**£**
12,000
23,337| |---|---|---|---|---| ||26,904|-|26,904|35,337| ||1
(22,019)
-|-
-
-|1
(22,019)
-|-
(18,668)
(3,480)| ||(22,018)|-|(22,018)|(22,148)| ||4,886
9,200|-
(9,200)|4,886
-|13,189
-| ||14,086
23,015|(9,200)
9,200|4,886
32,215|13,189
19,026| ||37,101|-|37,101|32,215| The notes on pages 7 to 11 form part of these financial statements. Page 4 ## **Ilfracombe Pilot Gig Club Comparative Statement of Financial Activities For The Year Ended 31 August 2025** |**Notes**
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
**3**
Charitable activities:
Pilot Gig Rowing
**EXPENDITURE ON:**
Charitable activities:
**5**
Pilot Gig Rowing
Other
**NET INCOME**
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS:**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**12**|**Unrestricted**
**funds**
**£**
500
23,337|**Restricted**
**funds**
**£**
11,500
-|**2024**
**Total**
**funds**
**£**
12,000
23,337| |---|---|---|---| ||23,837|11,500|35,337| ||(18,668)
(1,180)|-
(2,300)|(18,668)
(3,480)| ||(19,848)|(2,300)|(22,148)| ||3,989|9,200|13,189| ||3,989
19,026|9,200
-|13,189
19,026| ||23,015|9,200|32,215| The notes on pages 7 to 11 form part of these financial statements. Page 5 **Ilfracombe Pilot Gig Club Statement of Financial Position As At 31 August 2025** |**Notes**
**FIXED ASSETS**
Tangible Assets
**9**
**CURRENT ASSETS**
Debtors
**10**
Cash at bank and in hand
**Creditors: Amounts Falling Due Within**
**One Year**
**11**
**NET CURRENT ASSETS (LIABILITIES)**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS OF THE CHARITY**
Restricted Funds
Unrestricted Funds
**TOTAL FUNDS**
**12**
On behalf of the board|**Unrestricted**
**funds**
**£**
22,899|**Restricted**
**funds**
**£**
-|**2025**
**Total**
**funds**
**£**
22,899|**2024**
**Total**
**funds**
**£**
21,582| |---|---|---|---|---| ||22,899
1,800
12,761|-
-
-|22,899
1,800
12,761|21,582
1,455
9,898| ||14,561
(359)|-
-|14,561
(359)|11,353
(720)| ||14,202|-|14,202|10,633| ||37,101|-|37,101|32,215| ||37,101|-|37,101|32,215| ||||-
37,101|9,200
23,015| ||||37,101|32,215| |||||| Mr Stuart Dagley Trustee 18/02/2026 The notes on pages 7 to 11 form part of these financial statements. Page 6 **Ilfracombe Pilot Gig Club Notes to the Financial Statements For The Year Ended 31 August 2025** ## 1. **General Information** Ilfracombe Pilot Gig Club is a charitable incorporated organisation registered with the Charity Commission, registered charity number 1187003. The principal address is Ilfracombe Watersports Centre, Larkstone Lane, Ilfracombe, EX34 9FQ. ## 2. **Accounting Policies** ## 2.1. **Basis of Preparation of Financial Statements** The financial statements 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 Charities Act 2011. The charity is a Public Benefit Entity as defined by FRS 102. ## 2.2. **Tangible Fixed Assets and Depreciation** Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Plant & Machinery 20% Straight line ## 2.3. **Cash and Cash Equivalents** Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts. ## 3. **Income from Donations and Legacies** |Donations and gifts
Donations and gifts|**Unrestricted **
**funds**
**£**
10,093|**Restricted**
**funds**
**£**
-|**2025**
**Total**
**funds**
**£**
10,093| |---|---|---|---| ||**Unrestricted **
**funds**
**£**
500|**Restricted**
**funds**
**£**
11,500|**2024**
**Total**
**funds**
**£**
12,000| Page 7 **Ilfracombe Pilot Gig Club Notes to the Financial Statements (continued) For The Year Ended 31 August 2025** ## 4. **Net Income/(Expenditure)** The net income is stated after charging/(crediting): |The net income is stated after charging/(crediting):||| |---|---|---| ||**2025**|**2024**| ||**£**|**£**| |Depreciation of tangible fixed assets - owned|7,689|6,120| |Gain/Loss on disposal of tangible fixed assets|146|-| ## 5. **Analysis of Expenditure** |5.
**Analysis of Expenditure**||||| |---|---|---|---|---| |Raising funds
Pilot Gig Rowing
Pilot Gig Rowing
6.
**Support Costs**
General administration
General administration|**Activities**
**undertaken**
**directly**
**£**
-
18,261||**Support**
**costs**
(see note
6)
**£**
(1)
3,758|**2025**
**Total**
**£**
(1)
22,019| ||18,261||3,757|22,018| ||**Activities**
**undertaken**
**directly**
**£**
18,308||**Support**
**costs**
(see note
6)
**£**
360|**2024**
**Total**
**£**
18,668| |||**Raising**
**funds**
**£**
(1)|**Pilot Gig**
**Rowing**
**£**
3,758|**2025**
**Total**
**£**
3,757| |||||**2024**
**Pilot Gig**
**Rowing**
**£**
360| Page 8 **Ilfracombe Pilot Gig Club Notes to the Financial Statements (continued) For The Year Ended 31 August 2025** |7.
**Independent Examiner's Remuneration**
Independent examination of the financial statements
8.
**Average Number of Employees**
Average number of employees during the year was: NIL (2024: )|**2025**
**£**
360|**2024**
**£**
-| |---|---|---| |||| 9. **Tangible Assets** |**Cost**
As at 1 September 2024
Additions
Disposals
As at 31 August 2025
**Depreciation**
As at 1 September 2024
Provided during the period
Disposals
As at 31 August 2025
**Net Book Value**
As at 31 August 2025
As at 1 September 2024
10.
**Debtors**
**2025**
**£**
**Due within one year**
Other debtors
1,800|**Plant &**
**Machinery**
**£**
35,754
10,752
(2,910)| |---|---| ||43,596| ||14,172
7,689
(1,164)| ||20,697| ||22,899| ||21,582| ||**2024**
**£**
1,455| Page 9 **Ilfracombe Pilot Gig Club Notes to the Financial Statements (continued) For The Year Ended 31 August 2025** ## 11. **Creditors: Amounts Falling Due Within One Year** |Trade creditors
Accruals and deferred income
12.
**Movement in Funds**
**Unrestricted funds**
General:
General unrestricted fund
**Restricted funds**
Purchase of Gig Boat
**Total funds**
**Unrestricted funds**
General:
General unrestricted fund
**Restricted funds**
Purchase of Gig Boat
**Total funds**|**As at 1**
**September**
**2024**
**£**
23,015
9,200|**Income**
**£**
26,904
-|**Expenditure **
**£**
(22,018)
-||**2025**
**£**
(1)
360
359
**Transfers**
**£**
9,200
(9,200)|**2024**
**£**
-
720| |---|---|---|---|---|---|---| |||||||720| |||||||**As at 31**
**August**
**2025**
**£**
37,101
-| ||32,215|26,904|(22,018)||-|37,101| |||**As at 1**
**September**
**2023**
**£**
19,026
-|**Income**
**£**
23,837
11,500|||**As at 31**
**August**
**2024**
**£**
23,015
9,200| |||19,026|35,337|(22,148)||32,215| ## 13. **Transactions with Trustees** During the year the expenses reimbursed to the trustees or paid directly to third parties were as follows: |**2025**|**2024**| |---|---| |**£**|**£**| Page 10