2025-03-31-accounts

REGISTERED CHARITY NUMBER 1192085

EPIC GIGability PILOT GIG CLUB CIO

FINANCIAL REPORT TO THE MEMBERS

FOR THE YEAR ENDED 31 MARCH 2025 Registered Charity Number 1192085

1

Trustees’ Report and Accounts

Contents	page
Trustees’ Report	3 – 5
Statement of Financial Activities	6
Notes to the Accounts	7
Statement of Assets and Liabilities	8

2

EPIC GIGability PILOT GIG CLUB CIO

Trustees’ Report for the year ended 31 March 2025

The Trustees present their report and the accounts of the Club for the year ended 31 March 2025.

Reference and administrative details

Registered charity name EPIC GIGability Pilot Gig Club

Charity Registration number 1192085

Principal office EPIC GIGability C/O Falmouth Boat Yard Falmouth Road Penryn TR10 8AD

The Trustees Mr W M Sharpe Mr S Weston Mr W Giddings Ms P Drouet Mrs A Weston Mrs D Foy Mr J Barclay Mr C Jones Mr S Collier

3

Structure, governance and management

Governing document

EPIC GIGability Pilot Gig Club is a Charitable Incorporated Organisation registered with the Charity Commission on 30 October 2020. It is a registered charity number 1192085. The objects of the Club are to promote community participation in healthy recreation within the military veterans’ community in West Cornwall by providing facilities to participate in the sport of Cornish Pilot Gig rowing, both recreationally and competitively.

The Trustees manage the affairs of the Club with the Club Committee organising the activities of the Club in order to deliver the objects of the Charity.

Risk management

The Trustees have assessed the major financial viability and rowing activity related risks the Club faces and are satisfied that the systems are in place to mitigate its exposure to them whether gig rowing or ashore.

Objects and activities

The Club has enjoyed a further year of rowing, both training activity and competitive events. The Trustees are pleased to note an increase in membership and participation in the Club’s activities which includes a programme of cox training and development as well as competition training and social rowing. These activities have allowed members to enjoy the benefits of physical and social activity with other Armed Forces’ veterans thereby addressing and mitigating any potential and/or detrimental effects on transitioning from service to civilian life.

Achievements and performance

The Trustees are pleased to report that during the year ended 31 March 2025, membership income increased which enabled the Club to continue its activities and to maintain and improve its equipment and facilities, and members took part in the Great River Race.

Relationships with important parties

The Club maintains a number of important relationships including with

national and local Service veterans’ organisations, Cornwall County Council and Falmouth and Penryn Town Councils.

Financial review

As shown by the attached accounts, during the year ended 31 March 2025, incoming resources totalled £9,060.85 and total expenditure for the year totalled £16,249.13. The excess of expenditure over income so arising was £7,188.28. Following the provision for depreciation of £4,611.49, the net book value of the fixed assets was £24,205.73 which when aggregated with the net current assets of £16,570.40 totals £40,776.13 being the charity’s total net assets which represents the funds of the charity as at 31 March 2025.

Public benefit

In planning the Club’s activities for the year ended 31 March 2025, the Trustees kept in mind the Charity Commission guidance on public benefit.

4

Reserves policy

The Trustees’ policy is for the Club to have available free reserves in the face of unforeseen events and also to maintain a level of working capital to finance its charitable operations. Trustees’ responsibilities

The Trustees are responsible, in compliance with the provisions of the Charities Act 2011, for the keeping of accounting records and for the preparation of the accounts.

The Trustees’ annual report was approved on 29 October 2025 and signed on behalf of the board of Trustees by:

WM Sharpe

5

EPIC GIGability PILOT GIG CLUB CIO STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDING 31 MARCH 2025

2025 Income £ Membership 2613.00 Donations 3689.00 Sponsorship 0 Grants 0 Social Activities 65.00 Isle of Scilly Championship 0 Great River Race 2663.85 Other Income 30.00 Total Income Expenditure Insurance 1762.48 Gig Hire 0 Class Membership 0 Container Hire 0 Club Promotion 0 Isle of Scilly Championship 684.00 Great River Race 2572.00 Social Activities 257.00 CPGA 313.50 Office Stationery 0 Domain Renewals 0 Maintenance 2211.79 Fund Raising 71.86 Defib Rental 482.68 Independent Examination 0 General Expenses 238.45 Equipment 895.98 Asset Purchase 2135.65 Bank Costs 12.25 Depreciation 4611.49 Total Expenditure Excess Income over Expenditure	2024 £ 1860.00 7257.42 235.20 11500.00 108.00 37.96 0 0 9060.85 1481.28 0 0 0 0 0 0 0 295.00 20.24 154.61 1558.80 40.00 464.28 238.45 0 0 0 0 3304.22 16249.13 -7188.28
		20998.58
		7556.88
		13441.70

6

EPIC GIGability PILOT GIG CLUB CIO NOTES TO THE ACCOUNTS FOR THE YEAR ENDING 31 MARCH 2025

1. ACCOUNTING POLICIES

1.1 BASIS OF ACCOUNTING

The accounts have been prepared under the historical cost basis

1.2 FIXED ASSETS

The assets are capitalised at cost.

Depreciation is charged on a straight line basis at the rates calculated to write off the cost of the asset over its useful life as follows:

GIG AND EQUIPMENT 10% GIG TRAILER 20%

1.3 OPERATING LEASES

Rentals payable under operating leases are charged to the statement of financial activities incurred

2.FIXED ASSETS

2.FIXED ASSETS
	Gig and equipment	Gig trailer and trolly	Total
Cost	£	£	£
At 1 April 2024	23852.00	2616.00	26468.00
Additions in year	2135.65	0	2135.65
At 31 March 2025	25987.65	2616.00	28603.65
Depreciation 24-25
Existing items charges	3874.72	523.20	4397.92
New items charges	213.57		213.57
Net book value at 1 April
25	22112.93	2092.80	24205.73

7

EPIC GIGability PILOT GIG CLUB CIO STATEMENT OF ASSETS AND LIABILITIES AS AT 31ST MARCH 2025

Fixed Assets Gig and Equipment Gig Trailer and Trolly Current Assets Cash at Bank Cash in hand Net current assets Current Liabilities Creditors Defered Income REPRESENTED BY Net current assets Fixed assets Funds of the charity	2025 £ 22112.93 2092.80 24205.73 16470.40 100.00 16570.40 0 0 16570.40 24205.73 40776.13	40776.13	2024 £ 23852.00 2616.00 26468.00 19047.19 100.00 19147.19 45615.19 238.45 0 19147.19 19147.19 45615.19

Accounts approved at AGM on 29 Oct 2025 and authorised for issue.

W M Sharpe Chair of Trustees EPIC GIGability PILOT GIG CLUB CIO

8