REGISTERED COMPANY NUMBER: 12322612 (Enwand Wales) REGisfERED CHARITV IYUMBER: 1188068 Report of the Trnstees and Un8udited Financial StstemeAts for th¢ year Ended 31 Dec¢mber 2024 for Broxbourne Rowing Club
Broxljourne Rowing Club Contents of the FiDAntiAI Statements for the Year Ended 31 December 2024 Page Report of the Trustees Independent Examiner's Report Statement of Finameial Activities Balanee Sheet Notes to the nancIal Statements 7 to 11 Det&iled Statem1 of Finanei41 Aetivities 12 to 13
Broxlh)urne Rowing Club Report of the Trusteos for Éhe Year Endèd 31 December2D24 The trustees who are also directors tsf the charity for the purpos¢s of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2024. The tn]stee5 have adopted the provisions of Accountfftg and Reporting by Charities.. Statement of RecomTnended Practice applicable to Charities pr¢paring their accounts in a¢¢ordance with the Finla] Reporting St2ndard appli¢able in the UK and Republic of Ireland (FRS 102) <efftive l January 2019). OWECTIVES AND ACtIVlTIES Objeetiv¢s and aims The Charity's objttts {"Objects') are.. - the promotion of comTnunity participation in healthy reueation by the provision of facilities speGifi¢&]ly for the sport of rowing and otherrelated activiti&s {"fa¢ilities" means land, buildin8s. equipment and organising spx)rting a¢tivi(ies}' - providing and assÈStin8 in providing facilities for sports des¢ribed above, recr¢ation or other leksure time occupatiot) of su¢h persons who have need for such facilities by reason of thetr youth. &ge, infirrnity or disablemenL poverty or so¢ial and economic circumstances or for the public at large in the interest5 of Sla1 welfare and with the object of improving their condition5 of life; and advancing th¢ edu¢ation of children and young people through such mv4ns as the Directors think fit in accordance with the Charitl¢s Act 2011. SSgnifi¢Ant etttIeS The charity is a rowing Club and provides all the facilitie5. qUiPTnent. training and supwi services that m¢mbers need to enjoy the sport of rowing. The trusteeg have paid du¢ regard to guidancc issued by the Chartty Commission in deciding what a¢tivities the charity should undertake. The Club has run Learn to Row cournes for adults and jUEJiors from its lool conununÉty with 45 individuals participating. many of whom have gone on to become club tnembers joining our junior, recreational or development squads. before progressing to the racing squad Th¢ Club has continued to invest its farilities to improve acccssibility for all. in particularly the resurfacing of its carpark, whilst also c()ntiHuing to maintain and improve its gym facilities and rowing fleeL The Club provides rowin& fjtness and recTeational facilities to approximately 240 m¢mb¢rs. The Club was pleased to host a British Rowing Level 2 ¢oa¢hing ¢ourse attended by ¢.20 prospective coache5 from around the ¢ountry, as well rkmning safeguardang Courses for its membtrs.The club h&8 supported memkrs in gaining ¢cwhing qualifitiOnS enabling it to offer coaching to more members and 15 teful for the Contribution of its volunteers who also supptsrt rower development and learn to row courses.
Broxl)ourne Rowing Club Report of the Trustees for the Yegr Ended 31 December 2024 ACHtEVEMENT AND PERFORMANCE As well as providing recreationaj rowing for a squad of over 50 members, through its D¢v¢lopmeni and Junior squad5 the Club has been able to introduce members to racing through local regattas and head races, with membe tranSitionng through to Junior perfortnance and seniorlmasters fi]11 rdcing 4uads throu the ye. The Club Saw a record number of entries from its squads to the prestigious Pails Head evenL along with enthes to the 5ingle5. fours aTkd elt5 Head of River events in open and masterfs categories from its men's and women's squads. The Club entered a crew at Henley Women's and two crews to Henley Royal Regatta. The Club enjoyed success at National Mast¢rfs and H¢nley Masters events. national level junior Events. a5 well as at many It] and regional events. The Club's wreattonal squad has ¢ontinued to participate in the GB Rowing Touring league and ventured fi]rther afield to participate in a number of European touring events, and was pleased to be able to host a squad forni Norway on a wetkend tour its home river. Off the water club membets have also enjoyed succes5 at indwr rowing events including a win in the 50-59 women's 2k rdce at the European Championships, whilst MemlKr if the men's masters squad was part of a team that beat the world 24 hour relay record for 51k59 year olds. FINANCIAL REVIEW Reserves policy The rowing club has existed for 175 Yrs. The trustees acknowledg¢ their duty to maintain unrestTiCted fiJnd% wl]ich have not been designated for a srkcific use at a level of £53,000 equivalent to twelve months essential expenditure. The trusts consider that reserves at thi5 level will ensure thaL in the event of a significant drop tn fundin& they will be able to continue the charity's Clrent activities while consideration is given to ways in which additional funds may b¢ raised. Reserves have been maintained well above this level throughout the year. The Club invested £35.000 from its unrestricted reserves to resurface its carpark to improve acceIbilIty for all. In addition. the trustees coE]sider it appropriate. going fonvard, to designate reserves within its unrestri¢ted funds for long temi projects to maintain and iTnprove the Clubs House and Grounds facilitie4 as well for the replacement of its tru¢k in the coming years. The twst¢es have assessed the major risks to which the charity is exposed. and are satisfjed that Systems are in place to mitigate exposur¢ to lh¢ major risks. STRuufuRI, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its goveming documen( A dttd of trusL and constituies a lmited company. limited by guarantee. as defined by the Companies Act 2006. Historically Broxboume Rowing Club was established in 1847 and was registered &8 a Conmiunity Amateur Spojts Club ICASC 04914 1 CH06368) on 5 January 2008. The charity 15 a company limited by guarantee and was incorpornted on 19 November 2019 and registered as a charity on 20 February 2020 with the Charities Commission in England and WeS. A vote of the members of Broxbourne Rowing Club {CASC) on 8 Deeember 2020. wth prior approval and ¢l¢aTan¢e from HMRC agre&a to transfer all assets and liabilitÈes from Broxbourne Rowing Club (CASC) to BToxbourn¢ Rowing Club (Charitable Comyany). The tronsf¢r was effective 3 I De¢ember 2020. The charity is govemtd by a Memorandum and Arttcles of Association as creat&4 at incorporation and adoyed by members on 8 December 2020 and updated on 23 Septtmber 2021. The liability of the members in the event of the company being wound up ts limited to a sum not exceeding £10. Recruitment and gppointment of new trustees The trustees of the charity are also the directors for the PUrN) of company law and are appointed by the members at the AGM. in accordance with the Articles of Assl£tion. ldctiOn ad training of new trustee5 New Trus are introduced with a fiEII range of relevant Charity Commission guidance and appropriate infomiation ot] th¢ir r¢sponsibilities
Broxbourne Rowing Club Report of the Trustees for the Year Ended 31 December2D24 REFERENCE AND ADMINISTRATIVE DETAtLS Registered Company numb¢r I22612 (England and Wales) Regl$t¢red Charity number 1188068 Registered office The Clubhouse Old Nazeing Road BroxLx)ume EN106QU Trn$tee$ D Brown {resigned 3110r2024) A Stokes L M Ainsworth H M Dodsworth C J Heathcote G S Troll I W H¢nley (appointed 1813120241 N M Murray (appointed 121412025) Cornpally Secretsry L M Ain5WOrth IndepelldeDt Examiner Cartwri¥his Chartered Accountants and Busine Advi50r5 Regency House 33 Wood Street Barnet Hertfordshire EN5 4BE Approved by order of the board of trustees on ....13 sepe.mber 2025 . and $id ¢)n its behalf by: C J Heathcote- Trustee
Ind¢pendeDt Examiner's Rert to the Trustee5 of Broxl)ourne Rowing Club Independent examiller's report to the trustees of Broxbourne Roag Club Cthe Company,) report to th¢ ¢harity tnceS on my examination of the accounts of the Company for the year ended 31 December 2024. Responsibiiiti¢s amd basis of rert A5 the charity's trustees of the Company (and also its directon for the purposes of company law) you are responsible forthe prepardtion of the accounts in accordance with th¢ requirements of the Companieg Act 2006 {Ihe 2006 ACÉ,). Having satisfied myself that the accounts of the Company are requir¢d to be audited under Part 16 of the 2(K)6 Act and ar¢ eligible for independ¢ni examination, I report in respect of my examination of your ¢harity's accounts as carried out under Section 145 of the Charities A¢t 2011 {'the 2011 Act,). Jn rrying OLrt my examination I have followed th¢ Directions given by the Charity Commiwion vnd¢r S¢¢tion 145(5) (b} of the 2011 ACL llldtpendertt exAMine5 stotern¢nt I have completed my examination. I wnfimi that no matters have come to my attention in connection with the examination giving me ¢ause to believe.. accounting records were not kept in respect of the Company as required by Section 386 of th¢ 2006 Act; or the accounts do not accord with those rOrdS. or the accounts do not eomply with the accounling requirements of Seetion 396 of the 2006 Act other than ony uirement that the accounts give a true and fair view which is Mot a matter considered as part of an independeni examinarion. or the accounts have not been prepared in accordance with the meth(Kls and principles of the Statement of Rtcornmended Practice for accounting and reporting by charÈtie5 {applicable to charities preparing their accounts in accordance with the Finalla1 Reporting Standard applicable in the UK and RepuL7lic Of Irelznd (FRS 102)}. I have ng con¢¢rns and have Come a¢ross no other matte]5 in connectron with the examination to which attention should be drnwn in this report in order to enable a proper understanding of the accounts to be reached. Matth¢w Brown Cartwrights Chartered Accountants and Business Advisors Regency House 33 Wood Sireet Barne¢ Hertfordshir¢ EN5 4BE Date:..l.S.-09 -ZOZ5...
Broxbourne Rowlllg Club StAtemeDt of Fittanci&] Aetlvlties forthe YeAr Ettded 31 D¢e¢mber 21124 31112124 Unrestrkcted funds 311l2123 Total funds Notes tNCOME AND ENDOWMENTS FROM Donations and legacies 95,927 89,667 Other troding aclivities Invesknent income Other income 24,466 1,688 2.050 21,361 621 2,3(X) Totsl 124,131 113.949 EXPENDITURE ON Raising fiJn<b 2.543 1,684 Charitsble attivities Rowing ¢luL7 expenses 119.149 122,470 Totsl 121.692 124,154 NET INCOME/(EXPENDITURE) 2,439 (10205) RECONCILIATION OF FUNDS Totsl funds brought forward I263,8 1.274.133 TOTAL FUNDS CARRIED FORWARD 1266.367 1,263,928 The notts fomi part of these finan¢ial stat¢m¢nts
Broxbourne Rowing Club BRi4nee Sheet 31 December 2024 31112124 Unrestricted funds 31112123 Total fund5 Not FIXED A&SE7S Tangible &ssets 1,157,110 ,160,560 CURRENT ASSETS Debtors Cash at bank and in hand 13,867 124.132 7,513 137.W9 115.624 CREDITORS Amounts falling due within one year (28,7421 (12,256) NLT CURRENT ASSETS 109,257 103,368 TOTAL ASSETS LESS CURRENT LIABILITIES 1266,367 1,263,928 NET A&SETS 1.266,367 1.263,928 FUNDS Unrestricted fvnds 10 1.266.367 1263.928 TOTAL FiTNDS 1.266.367 1.263.928 The charitable company is entttled to exemption from alldit undu Section 477 of the Compantes Act 2006 for the year ended 31 December 2024. The memE¢rs have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in a¢¢ordance with Section 476 ofthe Companies A¢t 2006. The tSlEe5 acknowledge their responsibilities for (a) ensurillg that the charitable company keep5 accounting records that comply with Sections 386 and 387 of the Companies A¢t 2006 and preparing financial statements which give a true and fair view of the 5tatE of affairs of the charitable company as at th¢ end of ea¢h financial year and of its surplus or d¢fi¢it for ¢g¢h finart¢ial year in a¢¢ordan¢¢ with the r¢qLtiremet)ts of Sections 394 aTrd 395 and which otherwise comply with the requirements of the Compani¢s Act 2006 relatingtts fInancE statement% so far as applicable to the charitable company. Ib) These finan¢ial statements have been prepared in aecordance with the provisions applicable to charitable companies subjegt to the small companies regime. The financial statement5 were approved by the Board of Trustees and authorised for issue laAWOllLkEt2025.................. and were sI¢d on its behalf by.. on C J Heathaxe- Trustee The notes form part of these financial statements
Broxbollrne Rowing Club Notes to tbe FinantiRI Statemertts for the Year Ended 31 December 2024 ACCOUNTING POLICIES Ba$is 0rprepgrig the financial statements The financial stateme$ of the Charitable company, which is a public benefit eT]tity UTtr FRS 101 hav¢ been prepared in accordan¢e with the Charitie5 SORP (FRS 1021 'A¢counting and R¢porting by Charities.. Statement of Recommended Pra¢tice applicable to charities prq)aTing their acLouftts in a¢¢ordance with the Fir]¢18[ Reporting Siandard applicable in the UK and Republic of Ireland {FRS 1021 (¢ffective l January 2019),. Financial Repojting StandaTd 102 'The FITCIal Reporting Standard opplicable in the UK R¢publiL of Ireland, and the Cornpanies Act 2006. The financial statements have been prepared under the historical cost convention. All income is tecognis¢d tn the Statement of Financia] Activitie5 once the ¢hariÈy has entiil¢ment to the funds. it is probable that the income will be received and the amount can b¢ measured reliably. For donations to be recognised the ¢hartty wtll have been notified of the amounts aTKI the settlement date in wratin8. If there are conditions attached to the donation and Èhis rts]uires a level of perfomwnce before entitlement can be obtained then income is deferred until those conditions are llY met or the fiklfilment of those conditions is within th¢ control of the charity and it is probable that they will k fulfilled. Membership income is recognised on an a¢cnwls basis when members indicate that they will be joining the ¢lub I r¢n¢wing their membership. Income frorn trading activities includes income earned from fundraising ev¢nts and trading activities to raise funds for the ¢harity. Income is received in exchange for supplying gd$ and services in order to False fun¢ and is re¢ognised when entitlement has occurred. £xpendlture Liabilities are recogni5ed as expenditure as swn as there 15 a legal or constTudsve obligation ¢ommitting the charity to that expendituK it is probable that a transfer of economic b¢D¢fits will be required in settlcment and the aTnount of the obligation Call be measured ]rliably. Expenditure is accounted for on an accruals basi5 and has been classified under heading5 that aggregate all c05t relatod to tht category. Wher¢ costs carÉnot be directly attributed to parricular headings they have been alloGated to activi¢ies on a basis consistent with the use of Gov¢rn8nce costs Governance costs are those that assis¢ the work of th¢ ¢hwity but do not directly represent eharitsble activities. Tgngible red assets Depreciation is provid at the following annua] rates in order io write off ea¢h asset over its estimated useful life. Freelx)Id propety Plant and machinery Motor vehicles on ¢ost IOO/o on cost Straight line over 5 yeaTS The freehold land with a cost of £95,(K>O h&s not been depreciated on the basis that it is ¢onsidered to have an unlimited lifespan. Taxation The ch2rity i5 exempt from corporati(rt] tax on its ¢harÉtable actkvities. Fund aeeountiDg Unrc5tricted funds can i used in accordance with the charitable objectives atthe discretion of the truste¢5. Re#ricted funds can only be used for particular trstrt¢ted purposes withtn th¢ objects of the charity. Restrictions arise when specified by the donor orwhen fimds are rAised for parti¢ular restricled purposes. continued...
Broxbonrne Rowing Club Notes to the Fingnclal Staternets- continued for the Ye8r Ended 31 Det¥mbor 21124 ACCOiTNfiNG POLICIES- tontinu¢d Fund ¥¢¢ounting Fllrther explanation of the nature and purpose of fijnd is included in the notes to the fjnaneial statements. OTHER TRADING ACTIVITIES 31n2Q4 311A2t23 Fundrdising events Other Income Racking income School fees Learn to Row Insuran¢e claims 2.700 1.439 6284 5,454 10.028 4,724 2,7dlO 9,158 900 24,466 21,361 INVE%fMETrrf INCOME 31112124 311J2123 Deposit account interest 1,688 621 NET INCOMEI(EXPENDITURE) Net iOrn1(expendltUj is stated after Chargin(credItIng)'. 31112124 31112123 Depre¢iation- owned assets Surplus on disposal gf fixed assets 53.163 (2.050) 53,717 (2.300) TRUSTEES, REMUNERATION AND BENEFrrs There were no trustees, remunerntion or other benefits for the y*ar end¢d 31 t)¢wnber 2024 nor for the year ended 31 December 2023. Trustees, ¢xp¢ns¢s There were no trustees, expenses paid for the year ended 31 December 2024 nor for the year ended 31 Ikeernber 2023. continued...
Broxbourne Romgng Club Notes to the Financi81 Ststements- contitEued for the Year Ended 31 Detember 2024 GOING CONCERN The fjnanctal staternents have been prepared on a going coneem basis as the truste&% believe that no materiai uncertainties exist. The trustees have considered the level of funds held and the ¢xpec¢¢d l¢v¢l of in¢ome and expenditure for 12 months from authorising th¢s¢ fJThgncial statements. The budgeted income atMJ expenditure is sufficient with tlK level of res¢rv¢$ for the tharity to be able to continue as a 8OII]8 coiitertL TANGIBLE FIXED ASSETS Freehold property Motor vehicles 8ehinery Tota COST At l January 2024 Additions Disposals I,000,Ix)o 610,653 49.713 (7.119) 7,750 1,618,403 49.713 17.119} At 31 December 2024 I.000.)0 653,247 7,750 1.660,997 DEPRECIATION At l January 2024 c.haTe for year Eliminated on disp)sal 36,200 18,100 415,443 33.513 {7.119) 6,21)0 1.550 457.843 53,163 {7,1191 At 31 Dec¢mber 2024 54.300 441.837 7,750 503,887 NET BOOK VALUE At 31 December 2024 945.700 211,410 1,157,110 At 31 tk¢ember 2023 963,800 195,210 1.550 1.160.560 DEBTORS: AMOUNTS FALLINC DUE WITHIN ONE YEAR 31112124 31112123 Amounts owed by group undertakings Othtr debtors Prepayments and accrued income 3.573 200 10.094 2.421 400 4,692 13,867 7,513 eontinued...
Bry>xbourne Rowing Club Note5 to the Financial StstemeDts- continu¢d for tlke Year Ended 31 December 2024 CREDITORS: AMOUP4TS FALLI]YC DUE WITHJTr4 ONE YEAR 31112124 3111123 Trade creditors ACcnS and deferred income 28.741 11256 28.742 12,256 io. MOVEibfENT IN FUNDS Net movement in fllnds At 31112124 At 111124 Unrestrieted fullds General fund 1,263,928 2,439 1,266,367 TOTAL FUNDS I.263.8 2,439 1.266.367 Net movement in funds included in the above are as follows.. In¢oming resources Resources expended Movement in fund$ UDrestricted funds General fund 124.131 (121.692) 2,439 TOTAL FUNDS 124.131 (121,692) 2,439 Compar8tlve$ for movement in fvnd$ Net movement n funds At 31112123 At inn3 Unrestricted fund8 General fund 1.274.133 (10.205) 1,263,928 T(¥fAL FUNDS 1,274,133 (10,205) ,263,928 Compardtive net movement tn fiJnd& included in the aEK)ve are as follows.. Incorning restsurees Resources expended Movement in funds Unrestritted futtds fjeneral fund 113.949 {124.154} (10.205) TOTAL FUNDS 113.949 (124.154) (10.205) -10- continued...
Broiknurne Rowing CIMb Notes to the Fillaneial Statements- eontinued ror the Year Ended 31 December 2024 MOVEMENT IN FUNDS- Continued A ¢urrent year 12 months and prior year 12 month5 combined p05ition is as follows: Net movement IN fund5 At 31112124 At 111123 iJnr&stricted funds General fitnd 1,274.133 17.766) 1266,367 TOTAL FUNDS 1,274.133 (7,766) 1266,367 A cumt year 12 months and prior year 12 months ¢ombin¢d net movernent in included in the above are as follows.. Incotning resources Resource5 expended Movement in funds Unrestritted funds General fund 238,080 (245,8461 (7.766) TOTAL FUNDS 238,080 {245.846} (7,766) Within the fvnds Caled fonvard a balancc of £593,973 (2023.. £593,973) relates to t1 ValUation of the freehold within the accounts. ii. RELATED PARTY DISCLOSURES The charitable cotnpany has taken advantage of ¢xemption, under the terrns of Financial Reporting StsndaTd 102 The Financial Reporting Standard applicable in the UK and Republic of Ir¢I<d,, not to dis¢lose related party trans&ctions with wholly owned subsidiaries withsn the Up. ULTIMATE CONTROLLING PARTY There is no ultitnate cotrtrolling party of the company.
Broxbourne Rowing Club Detslted Ststsment of Flnancial Activities forthe Year Ended 31 December 2024 3111ZQ4 31112123 INCOME AP4D ENDOWMENTS Donation5 and legacies Donations Membership income 15,320 80,61)7 9,836 79,531 95,927 89,667 Other trAding 8etivitieB Fundraising events Other Income Racking income S¢h¢x)I fees Leam to Row Insurance claims 2,700 1,439 2,400 4,724 2.740 9.158 6284 5,454 10.028 24,466 21,361 Investment income Deposit account interest 1,688 621 Other incom¢ Gatn on sale of tangibl¢ fix¢d assets 2.050 2.300 Total ineomRng resovrees 124.131 113.949 EXPENDITURE Other trAding Aetivities Other Direct costs 2543 1,684 Charltablt aetlvltles Rates and water Insurance Light and heat Telephone Postage and stationery Sundrie5 Repairs to boats and equipment Boathouse refurbishment Repairs to club and grounds CleaTting and refiL5e collectio Van running costs CoachingT expenses Subscrikrtions Bank charges DepreciatÈort of tangible fixed assets 1,180 15,109 5.480 1.180 988 13.548 11.257 1273 226 536 7JlO 4.910 2.676 2,732 2,508 16,346 1279 116 53,717 981 IlJ67 2,633 5.166 2,746 14243 2,140 482 53.162 115,869 119,422 This page does not fomi part of the statutory financi statements 12-
Broxbourne Rowing Club Detsiled Statem¢nt of Fingntikl Aetivities for tht Y¢ar End¢d 31 December 2024 31112r24 31112123 Support costs Governanet eoyts Aceountancy fees Professional & Legal fees 3,080 2(10 3,0(K) 48 3.280 3.048 Total resources expended 121,6¥2 124,154 Net iNcomel(expenditure) 2,439 (10,205) This page does not foTm part of ihe stathtory financial statements -13-