The Nonesuch Rowing Foundation 2022 Annual Report & Accounts Presented by the trustees for the reporting period 1st January 2022 to 31st December 2022 2022 Annual Report 1 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 Tom Clark Tom Davies Tom Judd Charlie Lewis Poppy Mather Danielle Standish Sebastian Tjornelund ## **Report of the trustees for the period ended 31st December 2022** The trustees present their annual report and financial statements of the charity for the period ended 31st December 2022. 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. Front cover photograph by Aaron Sims 2022 Annual Report 2 ## Activities ## **Individual Grants** One way the Nonesuch Rowing Foundation widens access to and encourages participation in the amateur sport of rowing is by offering individual grants to students at the University of Bristol and members of Bristol’s community. These grants are intended to enable individuals to participate in rowing where personal financial cost would otherwise be a barrier to their participation, with a focus on those from low-income backgrounds. ## **Summary of Individual Grants awarded in 2022** ||Novice Rowers|Senior Rowers|**Total**| |---|---|---|---| |**Kit & Clothing**|£70|£40|**£110**| |**Club membership fees**|£109||**£109**| |**Attendance at national**||£210|**£210**| |**rowing events**|||| |**Total**|**£179**|**£250**|**£429**| The trustees accepted applications for individual grants throughout 2022 via an online form on the charity’s website. Following receipt the trustees assessed applications in accordance with the charity’s grant-making policy. The trustees were able to approve the vast majority of applications submitted. The trustees awarded six individual grants in 2022 ranging from £40 to £150 per award. Grants were awarded to cover the costs of rowing-specific kit and clothing, membership fees, and participation in national rowing events. These grants enabled individuals to train and race in rowing when they otherwise would have been excluded due to the personal financial cost of participation. The Nonesuch Rowing Foundation’s default policy is to keep the details of individual grant applications confidential, unless a grant applicant gives the trustees permission to share their identifying information. The trustees would like to welcome more applications for individual grants and encourage any potential applicants to visit the charity’s website to check their eligibility and apply online: ubbcalumni.com/nrf/apply. 2022 Annual Report 3 ## **Club Grants** A large and modern fleet of boats is essential to maximise participation in rowing. The Nonesuch Rowing Foundation’s aim is to provide club grants to the University of Bristol Boat Club (UBBC) for the purchase of boats and equipment which will be available for use by students at the University of Bristol and members of Bristol’s community. The types of equipment that these grants are intended for include, but are not limited to; rowing boats, oars, and their accessories necessary for rowing, safety launches, other safety equipment, and vehicles for transport to training and events. Typically boats and equipment for rowing cost tens of thousands of pounds and therefore raising funds for their purchase are often multi-year projects. The trustees therefore did not make any Club Grant Awards in 2022, choosing instead to accumulate capital to enable larger grant awards in 2023 and beyond. In support of this aim, in 2022 the charity raised over £14,000 to increase its available funding for future Club Grant Awards in 2023 and beyond. It is the trustees’ objective to significantly increase the value of our regular donations to allow the charity to make larger and more frequent club grants. ## Fundraising Monthly donations by Direct Debit continue to be the Nonesuch Rowing Foundation’s primary method of fundraising. The charity raised over £13.5k from regular donations in 2022. The charity has three levels of donation for its regular donors; “Student” (£2pm+), “Graduate” (£6pm+), and “The 1909 Club” (£19.09pm+). The tables below detail the donations received in 2022 from regular donors and a summary of the charity’s regular donors. These figures were current as of 31 December 2022. ## **Regular Donations Received in 2022** |“Student” Level
“Graduate” Level
“The 1909 Club”
**All Donors**|“Student” Level
“Graduate” Level
“The 1909 Club”
**All Donors**| |---|---| |**Donation Income**
£1068.00
£5.550.00
£5,694.88
**£12,312.88**|| |**Gift Aid Due**1
£57.50
£724.50
£1,066.45
**£1,848.45**|| |**Payment processing**
**fees**
£143.34
£198.00
£87.23
**£428.57**|| |**Net Income**2
£982.16
£6076.50
£6674.10
**£13,732.76**|| |% of total income
7%
44%
49%|| 2022 Annual Report 4 **----- Start of picture text -----**
"Student" Level
7%
"1909 Club"
49%
£982
£6,674
£13,733
”
£6,077
"Graduate" Level
44%
**----- End of picture text -----**
## **Summary of Regular Donors** “Student” Level “Graduate” Level “The 1909 Club” **All Donors** |**Number of Donors**|59|69|18|**145**| |---|---|---|---|---| |(percentage of total)|40%|48%|12%|| |**Number of Gift Aid**||||| |**Donors** 3
(percentage of donors
within each category)|13
22%|36
52%|14
78%|**63**| |**Average donation /**
**person /month**|£1.48|£6.94|£28.00|**£7.37**| |**Average net**||||| |**contribution /person /**|£1.39|£7.62|£32.99|**£8.28**| |**month** 4||||| 1 Gift Aid due on the charity’s Gift Aid donations, approximate figure. Gift Aid is claimed from HMRC retrospectively and may not appear in the charity’s accounts until the next financial year 2 donation + Gift Aid due - payment processing fees 3 number of donors who have completed a Gift Aid declaration 4 average donation per person per month with Gift Aid added (for Gift Aid donors only) and payment processing fees deducted 2022 Annual Report 5 ## Structure, Governance & Objectives ## **Structure & Governance** In 2022 The Nonesuch Rowing Foundation was governed by its eight trustees. In addition to its seven founding trustees, an eighth trustee was appointed in March 2022. New trustees are appointed by the existing trustees and serve for a maximum of three years, after which they may put themselves forward for reappointment. The charity’s constitution mandates 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 anyone else. All trustees give their time freely and no trustee renumeration was paid in the reporting period. In 2022 the trustees' focus was on streamlining the charity’s grant-making, accounting and reporting processes, assessing and awarding individual grants, and on attracting new donors to build a healthy account balance from which to make future grants. ## **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 by: - I. 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) - II. improving facilities and purchasing equipment that will increase capacity for participation in the sport of rowing - III. 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. 2022 Annual Report 6 ## Financial Review ## **Fundraising** The Nonesuch Rowing Foundation continued to collect regular monthly donations by Direct Debit. As of the end of the reporting period the charity had 145 regular donors, who collectively donated £12,313 to the charity in 2022. The charity was able to claim £2,009 of Gift Aid on donations in 2022, but had not yet done so by the end of the accounting period. The collection of donations by Direct Debit incurred a cost of £430.49 for payment processing to the charity’s online payment provider. The charity ran its first events, earning income of £1,444.00 from ticket sales. A range of Nonesuch Boat Club branded rowing kit and merchandise worth £485 was sold by the University of Bristol Boat Club Alumni & Friends association in 2022, the proceeds of which were donated to the charity. ## **Individual Grants** The trustees awarded six individual grants in 2022, totalling £429. Grants were awarded to cover the costs of rowing-specific kit and clothing, membership fees, and participation in national rowing events. These grants enabled individuals to train and race in rowing when they otherwise would have been excluded due to the personal financial cost of participation. ## **Event Expenses** In 2022 the charity hosted two fundraising events. The objective of hosting events was to attract new donors and to thank and retain existing donors, thus raising funds for our charitable objectives. In July 2022 the charity hosted an event at Henley Royal Regatta. Over 130 supporters of the charity attended the event. The charity incurred costs of £350 for hire of the venue (an outdoor space at Henley Cricket Club) and £376.68 for refreshments for attendees. The charity’s projected regular donation income increased by 13% following the event. In October 2022 the charity hosted a dinner in London to thank and retain regular donors. The event was ticketed to offset the cost of hiring the venue space. The venue space cost £1,395 to hire, however £1,444 was raised in ticket sales, resulting in a net profit of £49. 2022 Annual Report 7 ## **Other Expenses** The charity spent £165 on accounting services, £93 on payment services, and £316 on web-hosting services. ## **Balance Sheet & Reserves** The charity ended the year with £12,381 in cash at bank. It was owed £2,092 by third parties (primarily £2,009 in Gift Aid receivable). The charity ended the year with total reserves of £14,281. ## Declaration The trustees declare that they have approved the trustee’s report above. 2022 Annual Report 8 ## Statement of Financial Activities |**All fgures in GBP**
**Not**
**es**|**Unrestric**
**ted**
**funds**
**Restricte**
**d income**
**funds**
**Endowm**
**ent**
**funds**
**Total**
**funds**|**Unrestric**
**ted**
**funds**
**Restricte**
**d income**
**funds**
**Endowm**
**ent**
**funds**
**Total**
**funds**|**Unrestric**
**ted**
**funds**
**Restricte**
**d income**
**funds**
**Endowm**
**ent**
**funds**
**Total**
**funds**|**Prior**
**year**
**funds**| |---|---|---|---|---| |||||| |**Income and endowments from:**
3
Donations and legacies
Charitable activities
Other trading activities
Investments
Separate material item of income
Other
**Total**||||| ||14,322
-
-
-
-
-
1,929
-
-
4
-
-
-
-
-
-
-
-|**14,322**
**-**
**1,929**
**4**
**-**
**-**||**2,608**
**-**
**185**
**-**
**-**
**-**| ||**16,255**
**-**
**-**|**16,255**||**2,793**| |||||| |**Expenditure on:**
4
Raising funds
Charitable activities
Separate material item of expense
Other
**Total**||||| ||(524)
-
-
(429)
-
-
-
-
-
(2,602)
-
-|(524)
(429)
-
(2,602)||(494)
(150)
-
(569)| ||**(3,555)**
**-**
**-**|**(3,555)**||**(1,213)**| |||||| |Net gains/(losses) on investments
**Net income/(expenditure)**|-
-
-|-||-| ||**12,700**
**-**
**-**|**12,700**||**1,581**| |||||| |**Transfers between funds**|-
-
-|-||-| |||||| |**Other recognised** **gains/(losses):**
Gains and losses on revaluation of
fxed assets
Other gains/(losses)
**Net movement in funds**||||| ||-
-
-
-
-
-|-
-||-
-| ||**12,700**
**-**
**-**|**12,700**||**1,581**| |||||| |**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**||||| ||1,581
-
-|1,581||-| ||**14,281**
**-**
**-**|**14,281**||**1,581**| 2022 Annual Report 9 ## Balance Sheet |Balance Sheet||||| |---|---|---|---|---| |**All fgures in GBP**
**Not**
**es**|**Unrestri**
**cted**
**funds**
**Restricted**
**income**
**funds**
**Endowm**
**ent funds**
**Total this**
**year**|||**Total**
**last**
**year**| |||||| |**Fixed assets**
Intangible assets
Tangible assets
Heritage assets
Investments
**Total fxed assets**||||| ||-
-
-
-
-
-
-
-
-
-
-
-|-
-
-
-||-
-
-
-| ||**-**
**-**
**-**|**-**||**-**| |||||| |**Current assets**
Stocks
Debtors
6
Investments
Cash at bank and in hand
7
**Total current assets**||||| ||-
-
-
2,292
-
-
-
-
-
12,831
-
-|-
2,292
-
12,831||-
31
-
2,690| ||**15,123**
**-**
**-**|**15,123**||**2,721**| |||||| |**Creditors: amounts falling due**
**within one year**
8|(842)
-
-|(842)||(1,141)| |||||| |**Net current assets/(liabilities)**|**14,281**
**-**
**-**|**14,281**||**1,581**| |||||| |**Total assets less current liabilities**|**14,281**
**-**
**-**|**14,281**||**1,581**| |||||| |Creditors: amounts falling due after
one year|-
-
-|-||-| |||||| |**Total net assets or liabilities**|**14,281**
**-**
**-**|**14,281**||**1,581**| |||||| |**Funds of the Charity**
Endowment funds
Restricted income funds
Unrestricted funds||||| ||-
-
-
-
-
-
14,281
-
-|-
-
14,281||-
-
1,581| 2022 Annual Report 10 **14,281 - - 14,281 1,581** **Total funds** Signed on behalf of the trustees: Name: Date: Thomas Davies 31[st] October 2023 2022 Annual Report 11 ## 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. 2022 Annual Report 12 ## 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. ## **3. Analysis of Income** |**All fgures in**
**GBP**|**Unrestri**
**cted**
**funds**
**Restrict**
**ed**
**income**
**funds**
**Endow**
**ment**
**funds**|**Total**
**funds**||**Prior**
**year**| |---|---|---|---|---| ||12,313
-
-
2,009
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|||| |**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**||12,313
2,009
-
-
-
-
-||2,608
-
-
-
-
-
-| ||**14,322**
**-**
**-**
485
-
-
1,444
-
-|**14,322**||**2,608**| |||||| |**Other trading**
**activities:**
Sale of merchandise
Ticket sales
**Total**||485
1,444||185
-| ||**185**
**-**
**-**|**185**||**185**| |||||| |**Investments:**
Cash interest
**Total**|4
-
-|**4**||-| ||**4**
**-**
**-**|**4**||**-**| |||||| |**Total Income:**|**16,255**
**-**
**-**|**16,255**||**2,793**| 2022 Annual Report 13 ## **4. Analysis of Expenditure** ||**This year**
**Unrestr**
**icted**
**funds**
**Restri**
**cted**
**incom**
**e**
**funds**
**Endow**
**ment**
**funds**
**Total**
**funds**|**This year**
**Unrestr**
**icted**
**funds**
**Restri**
**cted**
**incom**
**e**
**funds**
**Endow**
**ment**
**funds**
**Total**
**funds**|**This year**
**Unrestr**
**icted**
**funds**
**Restri**
**cted**
**incom**
**e**
**funds**
**Endow**
**ment**
**funds**
**Total**
**funds**|**Last year**|**Last year**| |---|---|---|---|---|---| |**All fgures in GBP**
**Expenditure on raising**
**funds:**
Incurred seeking
donations
Staging fundraising
events
Advertising, marketing,
direct mail and publicity
**Total:**|**Unrestr**
**icted**
**funds**
**Restri**
**cted**
**incom**
**e**
**funds**
**Endow**
**ment**
**funds**|**Total**
**funds**||**Unrestr**
**icted**
**funds**
**Restri**
**cted**
**incom**
**e**
**funds**
**Endow**
**ment**
**funds**|**Total**
**funds**| ||524
-
-
-
-
-
-
-
-|||72
-
-
221
-
-
201
-
-|| |||524
-
-|||72
221
201| ||**524**
**-**
**-**
429
-
-|**524**||**494**
**-**
**-**
150
-
-|**494**| ||||||| |**Expenditure on**
**charitable activities:**
Payment of grants
**Total:**|||||| |||429|||150| ||**429**
**-**
**-**
2,122
-
-
165
-
-
316
-
-|**429**||**150**
**-**
**-**
463
-
-
-
-
-
106
-
-|**150**| ||||||| |**Other**
Event expenses
Audit & accountancy
Other expenses
**Total other expenditure**|||||| |||2,122
165
316|||463
-
106| ||**2,602**
**-**
**-**|**2,602**||**569**
**-**
**-**|**569**| ||||||| |**Total Expenditure**|**3,555**
**-**
**-**|**3,555**||**1,213**
**-**
**-**|**1,213**| 2022 Annual Report 14 ## Analysis of expenditure on charitable activities: ||**This year**
**Grant**
**funding of**
**activities**
**Support**
**Costs**
**Total**
**this**
**year**
429
-
429
-
-
-
**429**
**-**
**429**|**This year**
**Grant**
**funding of**
**activities**
**Support**
**Costs**
**Total**
**this**
**year**
429
-
429
-
-
-
**429**
**-**
**429**|**This year**
**Grant**
**funding of**
**activities**
**Support**
**Costs**
**Total**
**this**
**year**
429
-
429
-
-
-
**429**
**-**
**429**|**Last year**|**Last year**| |---|---|---|---|---|---| |**Activity or**
**programme**|**Grant**
**funding of**
**activities**
**Support**
**Costs**
429
-
-
-|**Total**
**this**
**year**||**Grant**
**funding of**
**activities**
**Support**
**Costs**
150
-
-
-|**Total**
**last year**| ||||||| |Individual Grants
Club Grants
**Total**||
429

-|||150

-| ||**429**
**-**|
**429**||**150**
**-**|**150**| ## **5. Paid Employees** The charity had no paid employees during the period. ## **6. Debtors and Prepayments** |**All fgures in GBP**
Trade debtors
Prepayments and accrued income
Other debtors
**Total**|**This year**
**Last year**| |---|---| ||| ||2,092
-
-
31
200
-| ||**2,292**
**31**| ## **7.** ## **Creditors and Accruals** ||**Due within one year**
**This year**
**Last year**|**Due beyond one year**| |---|---|---| |**All fgures in GBP**
Accruals for grants payable
Bank loans and overdrafts
Trade creditors
Accruals and deferred income||**This year**
**Last year**| |||| ||-
150
-
-
842
991
-
-|-
-
-
-
-
-
-
-| 2022 Annual Report 15 |**8.**
**Cash at bank and in hand**
**9.**
**Post Period End**
There were no signifcant events post year-end.
Taxation and social security
-
-
Other creditors
-
-
**Total**
**842**
**1,141**
**All fgures 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**| ||| ||-
-
-
-
12,831
2,690
-
-| ||**12,831**
**2,690**| 2022 Annual Report 16