DocuSign Envelope ID: 387A8428-95BA-4345-B24F-CF0A201FB946
The Nonesuch Rowing Foundation 2020/21 Annual Report & Accounts
Prepared by the trustees for the reporting period 28th July 2020 to 31st December 2021
DocuSign Envelope ID: 387A8428-95BA-4345-B24F-CF0A201FB946
The Nonesuch Rowing Foundation Saltford Rowing Centre Bath Road Saltford Bristol BS31 3JS
## nonesuchrf@gmail.com
## ubbcalumni.com/nrf
Charitable Incorporated Organisation Registered Charity Number: 1190599
## The Trustees of The Nonesuch Rowing Foundation
Ben Bathurst Charlie Lewis Danielle Standish Poppy Mather Sebastian Tjornelund Thomas Davies Tom Judd
## **Report of the trustees for the period ended 31[st] December 2021**
The trustees present their annual report and financial statements of the charity for the period ended 31[st] December 2021. The financial statements have been prepared in accordance with the accounting policies set out in Note 1 of the accounts and comply with the charity’s constitution, the Charities Act 1993 and the Statement of Recommended Practice: Account and Reporting by Charities published in 2019.
2
The Nonesuch Rowing Foundation 2020/21 Annual Report
DocuSign Envelope ID: 387A8428-95BA-4345-B24F-CF0A201FB946
## Contents
Structure & Governance ...................................................................................................... 4 Objectives & Activities.......................................................................................................... 5 Achievements & Performance ............................................................................................. 6 Financial Review .................................................................................................................. 7 Declaration ........................................................................................................................... 9 Statement of Financial Activities ........................................................................................ 10 Balance Sheet ................................................................................................................... 11 Notes to the Accounts ........................................................................................................ 12
3
The Nonesuch Rowing Foundation 2020/21 Annual Report
DocuSign Envelope ID: 387A8428-95BA-4345-B24F-CF0A201FB946
## Structure & Governance
The Nonesuch Rowing Foundation was incorporated as a Charitable Incorporated Organisation on 28th July 2020, number 1190599. The charity is governed by its constitution. This is the trustees’ first annual report since the charity’s incorporation.
During the reporting period, the charity was governed by its seven founding trustees.
New trustees are appointed by the existing trustees from amongst the charity’s donor base, and serve for a term of three years, after which they may put themselves forward for reappointment. A trustee can serve up to three consecutive terms after which they may be reappointed following an interval of at least one year. The charity’s constitution provides for a minimum of three trustees.
The trustees communicate primarily through electronic means, in which they agree the broad strategy and areas of activity of the charity, and consideration of grant making. The day-to-day administration of the charity is conducted by the trustees and is not delegated to any sub-committees or other individuals. All trustees give their time freely and no trustee renumeration was paid in the reporting period.
4
The Nonesuch Rowing Foundation 2020/21 Annual Report
DocuSign Envelope ID: 387A8428-95BA-4345-B24F-CF0A201FB946
## Objectives & Activities
## **Objects for the Public Benefit**
The objects of The Nonesuch Rowing Foundation are the promotion of community participation in healthy recreation in Bristol and the surrounding area by assisting in the provision of facilities to participate in the amateur sport of rowing and providing support to encourage wider participation in the sport.
The charity carries out these objects through the following activities:
1. The provision of voluntary support, equipment, facilities and other financial support in the form of grants to Bristol-based rowing club, the University of Bristol Boat Club (UBBC);
2. Improving facilities and purchasing equipment that will increase capacity for participation in the sport of rowing; and
3. Providing grants to students and other individuals to cover costs that would otherwise preclude them from participation in the sport of rowing.
The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities and setting the grant making policy for the year.
5
The Nonesuch Rowing Foundation 2020/21 Annual Report
DocuSign Envelope ID: 387A8428-95BA-4345-B24F-CF0A201FB946
## Achievements & Performance
In the reporting period the trustees' focus was on establishing the charity, its operating infrastructure and grant-making processes.
Following a delay as a result of restrictions on opening new bank accounts related to pressures in the banking system from the COVID-19 pandemic, the trustees established the charity’s bank account in November 2021. The charity’s fundraising and grant-making activities during the reporting period were significantly limited as a result of this delay.
Once the charity’s bank account had been opened, the charity began receiving regular donations by Direct Debit.
The trustees set up a website which features information on the charity and its objectives and activities, facilitates online donations, and provides a means to apply for grants. The trustees selected GoCardless as its payment provider for regular Direct Debit donations, and Stripe as its payment provider to facilitate single donations by credit/debit card. These were chosen for their security, trustworthiness, and comparatively low fees.
The trustees formally approved a Grant-Making Policy, which is available to view on the charity’s website.
The trustees commissioned the design and production of a range of promotional materials, including leaflets and pin badges, to market the objectives and activities of the charity with the aim of attracting new donors.
## **Individual Grant Awards**
One way the charity widens access to and encourages participation in rowing is by offering individual grants to students at the University of Bristol and members of Bristol’s wider community. These grants are intended for those who would otherwise not be able to participate in the sport of rowing due to financial constraints.
The trustees accepted applications for individual grants via an online form on the charity’s website.
The trustees awarded individual grants to one student rower in the reporting period, to the value of £150. The grant was awarded to cover the costs of the individual’s membership fees to train and race with UBBC, thus allowing them to participate in the sport of rowing.
## **Club Grant Awards**
The trustees did not make any Club Grant Awards in this reporting period, choosing instead to accumulate capital to enable larger grant awards in 2022 and beyond.
6
The Nonesuch Rowing Foundation 2020/21 Annual Report
DocuSign Envelope ID: 387A8428-95BA-4345-B24F-CF0A201FB946
## Financial Review
The report of the charity’s finances during this financial period covers the time between the incorporation of the charity in June 2020 and the end of the reporting period on 31st December 2021. During this period the charity incurred a proportionately higher level of expenditure which was associated with the set-up of the charity and the initiation of its fundraising activities. Nevertheless, the charity finished the reporting period with a surplus of £1,581. The charity will use this surplus to enable larger grant awards in future reporting periods.
## **Fundraising**
The charity began collecting regular monthly donations by Direct Debit once its new bank account had been opened. As at the end of the reporting period, the charity had received £2,608 in donations. As the charity was not yet registered with HMRC, no Gift Aid was collected during the reporting period. The collection of donations by Direct Debit incurred a cost of £18 for payment processing to the charity’s online payment provider GoCardless.
A range of Nonesuch Boat Club branded rowing kit and merchandise to the value of £185 was sold by the University of Bristol Boat Club Alumni & Friends association in 2021, the proceeds of which were donated to the charity. The collection of payment incurred a cost of £53 for payment processing to the online payment provider Stripe.
In the reporting period the charity did not receive any other one-off donations or legacy gifts.
## **Individual Grants**
The trustees awarded an individual grant of £150 to one student rower. The award of the grant was in line with the charity’s charitable objectives and grant making policy.
## **Event Expenses**
In August 2021 the charity hosted a fundraising event at the Henley Royal Regatta. The objective of hosting the event was to attract new donors and to thank and retain existing donors, thus raising funds for our charitable objectives. The charity also hosted potential donors for a boat naming ceremony in Saltford, as part of the annual UBBC Head Race. The charity incurred costs of £463 for refreshments for attendees.
## **Purchase of Donor Gifts and Promotional Materials**
The charity purchased branded promotional materials to serve the purpose of advertising and marketing the activities of the charity, and to recognise the generosity of donors, with the objective of attracting a greater number of donors. These included promotional leaflets and pin badges. Total costs incurred for promotional materials was £422. The trustees do not anticipate the need to replenish this stock for at least the next reporting year.
7
The Nonesuch Rowing Foundation 2020/21 Annual Report
DocuSign Envelope ID: 387A8428-95BA-4345-B24F-CF0A201FB946
## **Other Expenses**
The charity incurred additional costs totaling £106 covering bank account fees, postage and rent.
## **Balance Sheet & Reserves**
The charity ended the period with net assets of £1,581. This consisted of £2,690 in unrestricted cash, £31 of committed donations not yet received, and accounts payable of £1,141. The relatively large balance of accounts payable reflected the delay in opening the charity’s bank account, where expenses were accrued across the full 18-month time period covered by this report, but not paid until the bank account was fully operational.
The charity holds its reserves as cash balances at its bank. The trustees will continue to review options for holding reserves across a number of third parties, as appropriate, to reduce risk.
8
The Nonesuch Rowing Foundation 2020/21 Annual Report
DocuSign Envelope ID: 387A8428-95BA-4345-B24F-CF0A201FB946
## Declaration
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees:
**Thomas Davies, Trustee**
**Date: 31[st] October 2022**
9
The Nonesuch Rowing Foundation 2020/21 Annual Report
DocuSign Envelope ID: 387A8428-95BA-4345-B24F-CF0A201FB946
## Statement of Financial Activities
|**All figures in GBP**
**Notes**
**Income and endowments from:**
3
Donations and legacies
Charitable activities
Other trading activities
Investments
Separate material item of income
Other
**Total**
**Expenditure on:**
4
Raising funds
Charitable activities
Separate material item of expense
Other
**Total**
Net gains/(losses) on investments
**Net income/(expenditure)**
**Transfers between funds**
**Other recognised** **gains/(losses):**
Gains and losses on revaluation of fixed assets
Other gains/(losses)
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**Restricted**
**income funds**
**Endowment**
**funds**|**Total funds**|**Prior year**
**funds**|
|---|---|---|---|
|||
**2,608**
**-**
**185**
**-**
**-**
**-**
**2,793**
(494)
(150)
-
(569)
**(1,213)**
-
**1,581**
-
-
-
**1,581**
-
**1,581**|-
-
-
-
-
-|
||2,608
-
-
-
-
-
185
-
-
-
-
-
-
-
-
-
-
-|
**2,608**
**-**
**185**
**-**
**-**
**-**||
||**2,793**
**-**
**-**
(494)
-
-
(150)
-
-
-
-
-
(569)
-
-|
**2,793**
(494)
(150)
-
(569)|**-**
-
-
-
-|
||**(1,213)**
**-**
**-**
-
-
-|
**(1,213)**
-|**-**
-|
||**1,581**
**-**
**-**
-
-
-
-
-
-
-
-
-|
**1,581**
-
-
-|**-**
-
-
-|
||**1,581**
**-**
**-**
-
-
-|
**1,581**
-|**-**
-|
||**1,581**
**-**
**-**|
**1,581**|**-**|
DocuSign Envelope ID: 387A8428-95BA-4345-B24F-CF0A201FB946
## Balance Sheet
|**All figures in GBP**
**Notes**
**Unrestricted**
**funds**
**Restricted**
**income funds**
**Endowment**
**funds**
**Fixed assets**
Intangible assets
-
-
-
Tangible assets
-
-
-
Heritage assets
-
-
-
Investments
-
-
-
**Total fixed assets**
**-**
**-**
**-**
**Current assets**
Stocks
-
-
-
Debtors
6
31
-
-
Investments
-
-
-
Cash at bank and in hand
7
2,690
-
-
**Total current assets**
**2,721**
**-**
**-**
**Creditors: amounts falling due within one year**
8
(1,141)
-
-
**Net current assets/(liabilities)**
**1,581**
**-**
**-**
**Total assets less current liabilities**
**1,581**
**-**
**-**
Creditors: amounts falling due after one year
-
-
-
**Total net assets or liabilities**
**1,581**
**-**
**-**
**Funds of the Charity**
Endowment funds
1,581
Restricted income funds
-
Unrestricted funds
-
**Total funds**
**1,581**
**-**
**-**
Signed on behalf of the trustees:
Name:
Thomas Davies
Date:
31stOctober 2022|**Unrestricted**
**funds**
**Restricted**
**income funds**
**Endowment**
**funds**|**Total this**
**year**|**Total last**
**year**|
|---|---|---|---|
|||
-
-
-
-
**-**
-
31
-
2,690
**2,721**
(1,141)
**1,581**
**1,581**
-
**1,581**
1,581
-
-
**1,581**|-
-
-
-|
||-
-
-
-
-
-
-
-
-
-
-
-|
-
-
-
-||
||**-**
**-**
**-**
-
-
-
31
-
-
-
-
-
2,690
-
-|
**-**
-
31
-
2,690|**-**
-
-
-
-|
||**2,721**
**-**
**-**
(1,141)
-
-|
**2,721**
(1,141)|**-**
-|
||**1,581**
**-**
**-**
**1,581**
**-**
**-**
-
-
-
**1,581**
**-**
**-**
1,581
-
-|
**1,581**
**1,581**
-
**1,581**
1,581
-
-|**-**
**-**
-
**-**
-
-
-|
||**1,581**
**-**
**-**|**1,581**|**-**|
|||||
11
The Nonesuch Rowing Foundation 2020/21 Annual Report
DocuSign Envelope ID: 387A8428-95BA-4345-B24F-CF0A201FB946
## Notes to the Accounts
## **1. Basis of Preparation**
## 1.1.
## Basis of Accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts have been prepared in accordance with the ‘Statement of Recommended Practice: Accounting and Reporting by Charities’ applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and with the Charities Act 2011.
## 1.2. Going Concern
The trustees have prepared the accounts on the going concern basis, having considered the nature of the charity, its activities and financial position.
## **2. Accounting Policies**
The trustees have applied the following accounting policies in preparing these accounts:
## 2.1. Recognition of Income
All incoming resources are recognised once the charity has entitlement to the resources, it is certain that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability.
## 2.2. Offsetting
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.
## 2.3. Grants and Donations
Grants and donations are only included in the Statement of Financial Activities when the general income recognition criteria are met (see note 2.1 above).
## 2.4. Volunteer Help
The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.
DocuSign Envelope ID: 387A8428-95BA-4345-B24F-CF0A201FB946
- 2.5. Recognition of Liabilities
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
13
The Nonesuch Rowing Foundation 2020/21 Annual Report
DocuSign Envelope ID: 387A8428-95BA-4345-B24F-CF0A201FB946
## **3. Analysis of Income**
|**.**
**Analysis of Income**|||||
|---|---|---|---|---|
|**All figures in GBP**
**Donations and legacies:**
Donations and gifts
Gift Aid
Legacies
General grants provided by
government/other charities
Membership subscriptions and
sponsorships which are in substance
donations
Donated goods, facilities and services
Other
**Total**
**Other trading activities:**
Sale of merchandise
**Total**
**Total Income:**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**|**Total funds**|
|**Prior year**|
||2,608
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|
2,608
-
-
-
-
-
-||-
-
-
-
-|
||**2,608**
**-**
**-**
185
-
-|
**2,608**
185||**-**
-|
||**185**
**-**
**-**|
**185**||**-**|
||**2,793**
**-**
**-**|
**2,793**||**-**|
DocuSign Envelope ID: 387A8428-95BA-4345-B24F-CF0A201FB946
## **4. Analysis of Expenditure**
|**.**
**Analysis of Expenditure**|||||
|---|---|---|---|---|
|**All figures in GBP**
**Expenditure on raising funds:**
Incurred seeking donations
Staging fundraising events
Advertising, marketing, direct mail
and publicity
**Total:**
**Expenditure on charitable**
**activities:**
Payment of grants
**Total:**
**Other**
Event expenses
Other expenses
**Total other expenditure**
**Total Expenditure**|**Thisyear**|**Total**
**funds**
72
221
201
**494**
150
**150**
463
106
**569**
**1,213**|**Lastyear**||
||**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**|**Total**
**funds**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**|**Total**
**funds**|
||72
-
-
221
-
-
201
-
-|
72
221
201|-
-
-
-
-
-
-
-
-|
-
-
-|
||**494**
**-**
**-**
150
-
-|
**494**
150|**-**
**-**
**-**
-
-
-|
**-**
-|
||**150**
**-**
**-**
463
-
-
106
-
-|
**150**
463
106|**-**
**-**
**-**
-
-
-
-
-
-|
**-**
-
-|
||**569**
**-**
**-**|
**569**|**-**
**-**
**-**|
**-**|
||**1,213**
**-**
**-**|
**1,213**|**-**
**-**
**-**|
**-**|
15
The Nonesuch Rowing Foundation 2020/21 Annual Report
DocuSign Envelope ID: 387A8428-95BA-4345-B24F-CF0A201FB946
## Analysis of expenditure on charitable activities:
|**Activity or**
**programme**
Individual Grants
Club Grants
**Total**|**Thisyear**
**Grant**
**funding of**
**activities**
**Support**
**Costs**
**Total**
**this**
**year**
150
-
150
- - -
150
-
150|**Thisyear**
**Grant**
**funding of**
**activities**
**Support**
**Costs**
**Total**
**this**
**year**
150
-
150
- - -
150
-
150|**Lastyear**
**Grant**
**funding of**
**activities**
**Support**
**Costs**
**Total**
**last**
**year**
- - -
- - -
- - -|**Lastyear**
**Grant**
**funding of**
**activities**
**Support**
**Costs**
**Total**
**last**
**year**
- - -
- - -
- - -|
|---|---|---|---|---|
||**Grant**
**funding of**
**activities**
**Support**
**Costs**
150
-
- -|**Total**
**this**
**year**
150
-|**Grant**
**funding of**
**activities**
**Support**
**Costs**
- -
- -|**Total**
**last**
**year**
-
-|
||150
-|
150|- -|-|
## **5. Paid Employees**
The charity had no paid employees during the period.
## **6. Debtors and Prepayments**
|**All figures in GBP**|||**This year**|**Last**|**year**|
|---|---|---|---|---|---|
|Trade debtors|||-||-|
|Prepayments and accrued income|||31||-|
|Other debtors|||-||-|
|**Total**|||**31**||**-**|
|**Creditors and Accruals**||||||
||**Due within**|**one year**|**Due beyond**||**one year**|
|**All figures in GBP**|**This year**|**Last year**|
**This year**||**Last year**|
|Accruals for grants payable
|150|-|
|-|-|
|Bank loans and overdrafts
|-|-|
|-|-|
|Trade creditors
|991|-|
|-|-|
|Accruals and deferred income
|-|-|
|-|-|
|Taxation and social security
|-|-|
|-|-|
|Other creditors
|-|-|
|-|-|
|**Total**
|**1,141**|**-**|
|**-**|**-**|
## **7. Creditors and Accruals**
DocuSign Envelope ID: 387A8428-95BA-4345-B24F-CF0A201FB946
## **8. Cash at bank and in hand**
|**All figures in GBP**
Short term cash investments (less than 3 months maturity date)
Short term deposits
Cash at bank and on hand
Other
**Total**|**This year**
**Last year**
- -
- -
2,690
-
- -
**2,690**
**-**|
|---|---|
## **9. Post Period End**
The charity appointed an additional trustee, Thomas Clark, on 1[st] March 2022.
17
The Nonesuch Rowing Foundation 2020/21 Annual Report