## **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** 

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## **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|



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## **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 

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## **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. 

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## **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 

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

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



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## **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**|



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

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

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