REGISTERED COMPANY Nb'MBER: 12532589 (England #nd Wales) REGisfERED CHARITY NUMBER: 1196614 REPORT OF THE TRUSTEES A Tr4D FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR DURHAM AMATEUR ROWING CLUB I8 LIMrrED RMT Ribchesters Accouniants and Business Advir5 Finchale House Belmoni Busine55 Park Dutham DHI ITW
DURHAM AMATEUR ROWING CLUB 18rfI LIMITED CONTENTS OF THE FIiYAf*CIAL STATEMEI%TS FOR THE YEAR ENDED31 MARCH 2024 Page Report ofthe Trustees IDdepeNdent Exarniner's Report Stateffttnt ofFin3Ncial Arti¥ities Balance Sheet 7 to 8 Notes to the Fin8claI St2tern¢nts 9 to 18
DURHAM AMATEUR ROWIYG CLUB 1860 LIMITED IREGISTERED NUMBER: 12532589) REPORT OF THE TRUSTF.ES FOR THE YEAR Ef4DED 31 MARCH 2024 The iNstees who are also directOTS of the charity for the purSe$ of the Companies Act 2006, present their report with the fancIal statements of the Charity for the year ended 31 March 2024. The [n(eeS have adopted ihe provisions of Accounting and Reporting by Charities.- Sratement of Recomrnended Ptaclice applkcable to charities preparing their accounts in accordanct with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {effective l January 2019). OBJECTIVES AIYD ACTIVITIES Objectives and aims The charity's objecis are spe¢ifJcally restrtcted to the followtng.. l. The promotion of Communiry participaiion in healthy recreation in particular by the provision of facilities for rowin& sculling and other sports. 2. Providing and assisting in providing facilities for sport, Tecreation or othcr leisure lime 0up2t1On of such persons who haye need for such faciliiies by reon of their youth, age. inf]rmity or disable¢1, poverty or social and economic circuntstances or for the public at large in the interests of social welfart and with the object of improving their conditions of life- and 3. Advancing the education of children and young people through such means as the dire¢tors think fit in accordance with the charities act 2011. Significant aetivities The charity is a communiry sports club speciali5tng in rowtn(p bui also working with partner organisations to offer alteTnative water sports on the River Wear in Durham City_ The Charity provides facilities and equipment to enable all users to a¢¢ess the sport from begiTmer leyel up to national standard. Public benefit The Trustees confirm that they have complied with the duty to have due regard to the Chatity Commission'5 general guidance on public benefit and are satl5fied that the aims and objectives of the charity. and the activities reported on above. are undertaken to further the charitys purposes for the public benefit. Volunteers The charity places wat value on the cotatribuiions that volunteers make to the organisation. We benefiied eatlY from Iheit considerable time, ener¥y and expertise. ACHIEVEMEIYT AND PERFORMANCE Charit2ble activities Thiouohout the year the charity continued to provide sporting facilities and educatio[4 focussing on rowing activities and alternative water spons on the River Wear in Dwham City. The a]n eyenis of the year were the Durham City Regatta and the Durham Small Boats Head. Page I
DURHAM AMATEUR ROWING CLUB 1800 LIMITED (REGISTERED NUMBER: 12532589) REPORT OF THE TRUSTEES FOR THE YEAR ETriDED 31 MARCH 2024 FINANCIAL REVIEW Reserves policy The Trustees monitor the fanceS of the Charity on a regular ba8i%. The Trustees have deterniined rhat the appropriate level of free reserves, wh]"ch were £43.881. should be equivalent to, and not less than. three rnonihs n]nning costs, which equates to £50,746. As at 31 March 2024 re5erve5 were b¢low this target. Our p)Iicy i5 therefore to increase the reserves (whi¢h are carried forward for future activities) to at least this level. The tNstees have etlsured the unTestyicted funds have been wed to develop the sustainability of the charity. The results for ihe year are set out on page 6. Incoming resource5 totalled £216,362. This is a decrrdse of £76214 cOpared io I1 year, after excluding the exceptional item of £1,373.100 r¢¢eived in 2023. Resources expended toialled £216.773, whirh is a reduciion 01£44,921 frorn 2023. Overall, a defJ¢it of £41 I has occurred in the fuwicial year. This is after deptatIon charges of £38,380. The trnstees are Satisfied with the level of perforntsnce in the year. Unrestricted funds were £1,407,312 and the tTUStees are 5atisfi¢d with the overdll Posilion. Going concern The Ttustees are satisfied that the Charity is able to opente for the foreseeabk firture, on the basis of the level of reserve balance5 held. STRucfuRE, GOVERNANCE AND MANAGEMENT Goi'erning docurnent Dutham Amateur Rowing Club L860 Limited 15 a company limited by guardjmee and does not have a Share capital. It l5 registered charity and is governed by its Articles of Awciaiion. Recruitment and appointment of new trustees Truslees art recruited for skills to enable Iheffl to contribute to the governance of (he chatiry. a variety of mediums are sed to recruit Sulb]e tlets. Trustee5 hold office for an aeed period of ttme and are ratified at the Annual General Meeting. Page 2
DURHAM AMATEUR ROWING CLUB 1860 LIMITED (REGISTERED NUMBER: 12532589) REPORT OF THE TRb'STEES FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure aThd deeisioll king The Executive Committee (exec) is responsible for the da). to day running of the charity. The Executive Colnmittee is elected annually by the membership and is comtM)sed of representatives from all sections of the club. The Committee tneets at least every 2 months. The list of 12 executive Illemrs is as follows: President - Chairnian - Secretary Assistant Secretary - Treasurer - Captain MterS Vice Capiain Senior Vice Captain Junior Coordinator - 3 Exe¢utive Members (These are members without a specific role who musibe fvll member5 of the club) Club President is an eleCd executive conunittee p05t but is noi nom)ally v(*ed annually. Traditionally presid¢nts have filifilled this p)st for a number of years before making way for someone else. In addition the club i5 required io have a Welfare Officer, Ivh05e key role is in safeguardin& and a Safety Advisor. These 2 posts are generally co-opted onlo (he execuiive committee. The club manager is a cTropted post and has been allowed voting rights at thediscretion of the executive. The club {the exec) Tnay also appoint - Regatta secretary Press otTicer - Coaching c(trordinator Volunteer co-ordinator Boat warden Social club co-ordinaior These posts are non-executive commiiiee members ivho may be invited to a(Md rneetings to prgvide reports. The Board of Director5 of Durham ARC 1860 Lirnited ineludes= Chaimlan Captsin Treasurer - Club Secretary {who shall also be the Company Secrerary) and such other mernbets itho may be elected by the members to the Board_ The Board will direct the Executive 2nd vill tneei at leasi annually. Finally ive have the Manauemeni Committee. Thi5 consists of Club Chaimian Club Secretary CILib Treasurer Cliib Manager Club Assistant Manager plus one other person appointed by ihe executive. The Management Committee reports to ihe Executive Commiiiee. The riyelve elected posts for the exec come up for election ai the Annual General Meeting each July. The non-executive posts ivill be nominated by the members of rhe exec. Page 3
DURHAM AMATEUR ROWING CLUB 1860 LIMJTED (REGISTERED NUMBER: 12532589) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Induction and training of trustees Trustees are givell appTopriaie induction on appointment and will be providal with access to appropriate trdining during their appointment to ihe board. REFERENCE AND ADMIIYISTRATIVE DETAIiS Registered Compan) number 12532589 (England and Wales} Registered Charity number 1196614 Registered office City Boathollse Green Lane Old Elvei Durham City DHI 3JU Trustees H Gravatt {resigned 91512023) B Hiidson P Rutter (resigned 1317ll023) A GoliJtly {appoinied 9,151202i) R DominN' (appointed li17120?i) L Fornvood- Treasurer lappoinied 13nr2023) T Morris (appointed 13nllo?3) Independent Examiner Rob Ribchesters FCA MA RMT Ribchesters Accountanis and Bu5ines5 Advisors Finchale House Belmont Business Park Durham DHI ITW This report has been prepared in aecordance with the special piovi%tons of Pan 15 ofthe Con]panies Act 2006 relatin to small companies. Approved by order (Trf the board of trustee5 on 16 Julv 20?4 and Sied on its behalf by.. L FoTri'ood - Trusiee Page 4
INDEPENDENT EXAMINER'S REPORT TOTHE TRUSTEES OF DURHAM AMATEUR ROWING CLUB 186D LIMITED Independent e¥aminer's report to the trustees of Durham Amateur RoThiBg Club 1860 Lifflited {'the Compan> ) I report to the chi£ ril). trusiees on my examinaiion of the accounts of the Company for the )'ear ended 31 March 2024. Responsibilities and ba515 of report As ihe charity's trustee5 of the Company (and also its directors for the purtK)ses of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the COmnieS Act 2006 {'the 2006 Act')- Having satisfied myself thai the accounts ofihe Company are nol required to be wdited under Part 16 of the 2006 Act and are eligible for independent examination, I reTK)rt in respecc of my examination of your chaTitys accounts as carried out under Section 145 of the Charities Act 2011 {'the 2011 Aci'l. In can)'ing out my examination I have followed the Directions given by the Charity Commission under Section 145(5} 0)) of the 201 l Act. Independent ex2rniner's statemtnt I have completed my exatnination. I confm that no matters have come to my attenlion in conneeiion with the examination giving me cause io believe.. accouniing records were not kept in respect of the Company as required by Section 386 of the 2006 Acc- OT the accounts do noi accord with those records,. 01 (he accounts do not tomply ivith the accouniing requirements of Section 396 of the 2006 Act other than any requiremeni that the accounts give a true and fair view which is not a aller considered as part of an independent examination- or the accounts have not been prepared in ac¢ordance ivith the methods and principles of ihe Statement of RecoTntnended Practice for accountino and reportino b) chariries (applicable 10 charities preparing theii accowit5 in accordance with the Financial Reponing Standard applicable in ihe UK and Republic of Ireland IFRS 102)). I have no concern5 and have come across n(Tr other Tnatters in connection with the examination to which attention should be draiffi in ihis report in order to enable a proper understanding of the acco10 be reached. Rob Ribchester5 FCA MA RMT Ribche5ter5 ALcouniants and Business AdvisoTS Finchale House Belmont Business Park Durham DHI ITW 16 Jiily 2024 Pa2e 5
DURHAM AMATEUR ROWll4G CLUB 1860 LIMITED STATEMETr*T OF F1Tr4ANCIAL ACTIVITIES (INCORPORATING AIY If4COME AND EXPENDITURE ACCOUNT) FOR THE YEAR EINDED 31 MARCH 2024 2024 Unrestricted fund 2023 Total Sjnds Note5 INCOME AND ENDOWMENTS FROM Donations and legacies 94,370 1,539,618 Other trading activities Investment income Other inco£ 69.056 52,067 869 48,492 75,473 2,093 Total 216,362 1,665.676 EXPENDITURE ON Raising funds 13,788 12,998 Charitable activities Rowing facilities 202,985 248,696 Total 216,773 261,694 NET INCOMEI(EXPENDITURE) (411) 1.403.982 RF.CONCILIATION OF FUNDS Total funds brought fotivard 1,407.723 3.741 TOTAL FUINDS CARRIED FORWARD 1.407.312 1,407,723 The notes fomi pan of ihese financial statenients Page 6
DURHAM AMATEUR ROWING CLUB 1860 LIMITED IREGISTERED NUMBER: 125325891 BALANCE SHEET 31 MARCH 2024 2024 Unrestricted fund 2023 Total funds Notes FJXED ASSETS Tangible assets Investments 12 13 ,758.886 1,796,037 1,758,887 1,796,038 CURRENT ASSETS Stock5 tkbtors Cash at bank 14 15 281 19,738 5,476 47.298 9,951 57,249 25,495 CREDITORS Amounts falling due wiihin one year 16 (13,368) (13.010) NET CURRENT ASSETS 43.881 12,485 TOTAL ASSETS LESS CURRENT LIABILITIES 1,802.768 1,808,523 CREDITORS Amounts falling due after more than one year 17 (395,456) {400.800) NET ASSETS ,407.312 1,407,723 FUNDS Unrestricted fldS 20 1,407,312 1,407,723 TOTAL FUNDS 1,407,312 1.407,7?3 The charitable co]npany is entitled to exempiion from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The member5 have noi required the compans. 10 obrain an audÈt of its financial sthtements for the year ended 31 March 2024 in accordanee ivith SwtiOT) 476 of the Companies Act 2W6. The trustees acknoilledge their responsibilities for {a) ensiiring Ihat the chaiiiable companj. keeps accouniing records that comply with Settion5 J86 and 387 of the Companie5 Aci 2006 and preparing financial statements which oive a true and fair view of the state of affai of ihe chariiable company as at the end of each finaneial year and of lis surplus or deficii for edch financial year in accordance iviih the requirements of Seciions 394 and 395 and iihieh oihernvise cotnpl). the Tequirements of the Companies Aci 2006 relating to financial sialements. so far applicable io rhe charitable coinpany. {b) The notes forn) part of ihese financial statements Page 7 continued...
DURHAM AMATEUR ROWING CLUB 1860 LIMITED {REGISTERED NUMBER: 12532589) BALANCE SHEET- continued 31 MARCH 2024 These financial siaiemenis have been prepared in accordante with the provision5 applicable to charitable companie5 subject to the small companie5 regime. The financial siaiements were approved by the Board of Trustee5 and authori5ed for issue on 16 July 2024 and were signed on lis behalf by.. L Fon¥ood- TTUStee The rkotes forni part ofthese financial SialeIents
DURHAM AMATEUR ROWING CLUB 1860 LIMITED P40TES TO THE FINANCIAL STATEMENTS FOR THE YEAR EINDED31 MARCH 2024 ACCOUIYTING POLICIES Basis of preparing the financial statements Th¢ financial siatements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Chariiies SORP (FRS 102)'Accounting and Rew)rting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l Jattuary 2019),, Financial Reportinu SÉandard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial sraiements have been prepared under the historical cost convention, with the excepiion of invesents which ale included ai markel value. Income All income is recognised the Sement of Financial Activities onct the charity has entitlement to the fiinds, it 15 probable that the income will be received and the amount can be measured reliably. The following specific policies are applied io particular categories of incorne: Voluntary income is received by way of grants and donations ard is included in full in the Statement of Financial A¢tivitÉes when receivable. Inv¢sttnent income is included when receivable. Renial incolne is recorded when li is receivable. Incoming resouwes from grants, m.hete related to perforfflance and $C1r1¢ deliverdble5, are accounted for as the charity earns the right to consideration by its perfomance. Volunteers The charity place5 gteai value on the contributions that volunieers make to the organisation. We benefited greatly from their considerable time, energy and expertise. Expenditure Liabilities are recOlsed as expenditure a5 soon as there 15 a legal or constructive obligation colnrnitting the charity to that expendithre, it 15 probable thai a transfer gf economic benefits will be required in settlement and the amount of the obligaiion can be measured reliably. Expenditure is acCrtted for on an accruals basis and hos been classified under headings that awegaie all cost relaied io the CegOry. Where costs cannoi be directly attributed to particular heading5 they have been allocated to activities on a basis consistent wilh the use of resources. Alloeation and apportionment ofcosts All costs aTe allocated between the expendiwre categorie5 of (he slement of Financial Activities on a basis desied to reflect the use of the resource. Costs relaiino to a particular actiwty ale allocated diTectly, others are apportioned on the basis of time snt. Tangible fixed assets Depreciation is provided at the folloiving annual rates in older to write off each ass¢É over its estimated useful Freehold property Land Boats and oars Fixtures and fsttings Motor vehicles 20/0 on cost not provided l(P/• on cost I/0 on cosi 250/0 on redutino balance Stock5 Siocks are valLied ai the loi¥er of cosi and net realisable value, after making due allowwice for obsolete and slow Tnoving iiems_ Taiation The charity is exempt froTll Cotpofdiion lax on its chariiable activiiies. Fund accounting U[eS1r1¢ted funds can be used in accordance ivith the charitable objectives at the discreiion of the trustees. Page 9 continued...
DURHAM AMATEUR ROWIIYG CLUB 1860 LIMITED NOTES TO THE FILYA.TriCIAL STATEMENfs- tontinued FOR THE YEAR ENDED31 MARCH 2024 ACCOUNTING POLICIES- continued Fund 8ccounting Restricted fund5 can only be used for panicular restricted puryoses With the objects of the charity. Restrictions arise when specified by the donor or when fi]nds are raised for particularrestticted purposes. Further ¢xplanation of the nature and puTse of each fimd is included in the notes to the fi[ncial statements. Hire purchase and leasing corllmitments Rentals paid under operating leases are Charged to the Siaiemerti of Fina18] Activities on a straight line basis over the period of the I¢e. Pension costs and other post-retiremeI benefits The charitable company operaie5 a defined conrribulion pension he¢. Contributions payable to the charitable cotnpany's pension schetne are Charged io the Statement of Financial Aciivtties in the period to which they relate. The company operdtes a defined contribution pension 5chem¢ and pension contributions are ¢harged to the profit and loss account to Spread the cosi of the pensions over the employees working lives. Financial instruments The charitabl¢ company has elected to apply ihe provisions of secti¢m I I 'Basic Financial Instnunents, and Section 12 '0ther Financial In5tn]ments Issues, of FRS 102 to all of its fjnancial instrutnents. Financial insiruments are recoyjised in the company's balance sheet when the company becomes party to the contracrual provisions of the instnmient. Financial assets and liabilities are offsei. with the net amounts presented in the financial siarements, when there is a legally enforceable right io sei off the recognised amounts and theTe is an inteniion to settle on a nei basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, thI(h include debtors and ¢&5h and bank balances, are iniiially measured at transaction price including trdnsaciion costs and are subsequently caled at amortised cost Using the effective interest rnethod unless the atranuement constituies a fi[icing transaction. beTt the transaction is measured at present value of the futUTe receipts discounted al a markei rate of interest. Financial assets classifIed a5 receivable within one year are noi amortised. Classification or rinaneial liabilities Financial liabilities and equity insuuments ate classifjed according 10 substance of ihe contractual mngetnents entered into. An equiry instrument 15 any contrdci ihai evidences a residual inieresi in the assets of the company after deducting all of its liabililies. Basic financial liabilities Basic financial liabilities, includin(F crediiors, bank loans, other loans, and preference shares that ale classified a5 debt, are initially recognised ai transaction price unless the arrangement constituie5 a financing tTansaction. where ihe debt instFument 15 measured 91 the present value of the pa>Thents discounted at a market rate of interest. Financial liabilitie5 classified as payable within one year are Mt arnortised. Debt instrumertis are subsequently carried ai amortised cost, Using the efFective interest rdie method. Trade creditors are obligations to pay for goods or services th& have been acquired in the ordinary course of business from suppliers. Aniounis pa)'able ale classified a5 curreni liabilities if paymeni is due within one year or less. If noi, they are presented as non-current liabiliiies. Trdde creditors are reeognised initially at transaction price and siibsequently measiired at amortised cost usino the effective in¢ere5t method_ Investments Investtnents are initiallj. measured ai cosi and subsequently measured at Cost less accumulated impairment losses. Page 10 continued...
DURHAM AMATEUR ROWING CLUB 1860 LIMtrED NOTES TO THE FINANCIAL STATEMEf'TS- tontinued FOR THE YEAR EP4DED 31 MARCH 2024 DONATIONS AND LEGACIES 2024 2023 Donations Grants Membership CoTpoiaie membership Ex¢eptional items 1.959 407 89,137 2.867 72,348 10.700 83,110 360 1.373.100 94,370 1.539,618 In¢luded within excepiional items for the year ended 31 March 2023 is the trdde and assets transferred fro Durham Amateur Rowing Club. More iytforma(ion is found within no 21 of the accounts. OTHER TRADING ACTtVlTIES 2024 2023 Private rdcking and storage Traileiaoe Leam to row School rowll)g sessions Durham City regatta Clothing sales AutUTnn SBH Durham SBH Explore roNving Parking membership 13,403 8,692 7,874 1.000 12,498 275 4,870 12,314 13,727 8.473 6,882 2,550 2,070 192 4.095 10,215 288 8,130 69,056 48.492 INVESTMENT INCOME 2024 2023 Rgorn hire Shares in group undertaking5 4,067 48,000 1.473 74,000 52,067 75.473 Page 11 continued...
DURHAM AMATEUR ROWING CLUB 18(A) LIMITED r4oTES TO THE FIP4ANCIAL STATEMENTS. continued FOR THE YEAR ENDED31 MARCH 2024 RAISING FUNDS Other trading activitie5 2024 2023 Opening stock PUh9$eS Closing stock TTailerage Learn to row Duiham Ciry regatta Allcomers regatta Sprint regatta Auiumn SBH Durham SBH 281 108 105 1281) 5.531 236 3,340 18 61 1,649 2,339 6.289 3,711 61 1,366 1.912 13.788 12.998 CHARITABLE ACTIVITIES COSTS Support costs (see note 7) Dert Costs Totals Rowing facilities 80.784 122.201 202,985 SUPPORT COSTS Govemance Costs Finance OtheT Tota15 Rowing facilities 30.924 89,057 2,220 122,201 Support Costs, included in the above. are as follows- Governance costs 2024 Roiving facilities 2023 Total activities AccoLintancy 2.220 4.206 NET INCOMEIIEXPENDITURE) Nel incomellexpenditurej is stated after chargin£l(crediting)= 2024 2023 Depreciation - 01ed assets Hire of plant and machinery Independent examiner- Independeni examination Independent examiner- Other 38.380 2,?37 2,220 38.520 2,252 2.034 2,172 conlsnued...
DURHAM AMATEUR ROWING CLUB 18(rfI LIMITED NOTES TO THF, FIIYA Tr4CIAL STATEMEf4TS- wntinued FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the yw ended 31 March 2024 nor for the year ended 31 March 2023. Trllstees, expen5¢S There were no trustees. expenses paid for the year ended 31 March 2¢Y24 nor for the year ended 31 Mar¢h 2023. io. STAFF COSTS 2024 2023 Wages and salaries Social security costs Other pension costs 68,406 780 2.338 120.499 1.718 71,524 122,217 The average monthly number of employees during the year was as folbws.. 2024 2023 Charitable activities No employees received emoluments in excess of £60.000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricied fund INCOME AND ENDOWMENTS FROM Donations and legacies 1,539,618 Other trading activiiies Investment income Other ineome 48.492 75,473 2.093 Totsl 1,665,676 EXPENDITURE ON Raising tunds 12,998 Charitable actii'ities Roiving facilities 248,696 Totxl 261,694 NET INCOME 1,403,982 RECONCILIATION OF FUNDS Total fiinds broughi foThs'ard TOTAL FUNDS CARRIED FORWARD 1.407,723 Page 13 continued..
DURHAM AMATEUR ROWING CLUB 1860 LIMITED NOTES TO THE F1Tr4A CIAL sTATF.METS- ¢ontinued FOR THE YEAR EINDED31 MARCH 2024 12. TAIYGIBLE FIXED ASSETS Freehold Boats and oars Land COST At l April 2023 Additions 1257,152 453,556 77,289 407 At 31 March 2024 1257,152 453.556 77,696 DEPRECIATION At l April 2023 Charge for year 25,143 25.143 7,313 7,746 At 31 March 2024 50.286 15,059 NET BOOK VALUE Ai 31 March 2024 1206.866 453,556 62,637 Ai 31 March 2023 1.232,009 453,556 69,976 Fixtures Motor vehicles rittings Totals COST At l April 2023 Additions 37,172 822 9.388 1,834,557 1,229 At 31 March 2024 37,994 9.388 1,835.786 DEPRECIATION At l April 2023 Charge for year 3.717 3,731 2,347 1.760 38,520 38,380 At 31 March 2024 7,448 4.107 76,900 NET BOOK VALUE At 31 March 2024 30,546 5.281 1,75S,886 At 31 March 2023 33.455 7.041 1.796,037 13. FIXED ASSET INVESTMENTS Shales in group undenakings MARKET VALUE At l April 2023 and 31 March 2024 NET BOOK VALUE Ai 31 March 2024 At i l March 2023 There were no investment assets outside the UK. Page 14 continued...
DURHAM AMATEUR ROWING CLUB 1860 LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 JMARCH 2024 13. FIXED ASSET INVESTMENTS- continued The colnpany's investtnents at the balance sheet date in the shaTe capitrl of co]npanie5 include the following.. Durhttrn Amateur Rowing Club Limited Registered office.. City Boathouse, Green talle, Durhaln, DHI 3JU Nature of business= Rowing events Class of share: Ordinary holding 2024 2023 Aggregaie capital and SerVeS Profit lor the year 3.695 41,125 10,570 71,778 14. STOCKS 2024 2023 Stocks 281 15. DEBTORS: AMOUNTS FALLING DUE WITHIN OF4E YEAR 2024 2023 Trade debiors Amounts oiyed by group undertakings Other debtors Credit card PrepaJin¢nts 9,188 26.000 10,459 4,500 192 4.587 360 11,750 47,298 19.738 16. CREDITORS: AMOUNTS FALLING DUE WITHIf4 OP4E YEAR 2024 2023 Bank loans and overdrafts (see Dote 18) Trade creditors Social security and other taxes Accnied expenses 6.176 3,570 1,559 2,063 6,880 3,907 2,223 13.368 13,010 Page 15 coniinued...
DURHAM AMATEUR ROWINC CLUB 1860 LIMITED NOTES TO THE FINAYCIAL STATEMENTS- eolltinued FOR THE YEAR ENDED 31 MARCH 2024 17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 2023 Bank loans (see note 18) 395,456 400,800 J8. LOANS An analysis of the maturity of loans is given below. 2024 2023 Amounts fallino due within one year on demand= Bank loan5 6.176 6,880 Amounts falling between one and year5.. Bank loans- 1-2 years 6,391 7.150 Atnounts falling due between two and five years: Bank loans- 2-5 years 20,787 22,988 ATnounts falling due in more than five years.. Repayable by in5talment5-. Bank loans more 5 5ry by instal 368,278 370.662 19. SECURED DEBTS The following secured debts are included within ereditor5: 2024 2023 Bank loans 401,632 407,680 The above bank loans are secured against (he land io which they relate. 20. MOVEMENT IP4 FUNDS Net moveTnent in fvnd5 At At 1.4.23 Unrestricted funds Generdl fiind 1.407,723 (411) 1,407,312 TOTAL FUNDS 1,407,723 (411) 1,407,312 Pa(pe 16 coniinued...
DVRHAM AMATEUR ROWING CLUB 18fAI LIMITED NOTES TO THE FINANCIAL STATEMENTS- coDtinued FOR THE YEAR Ef4DED 31 MARCH 2024 20. MOVEMENT IN FUNDS- continued Net movement in fvnd& tncluded in the above are as follows.. I]KQ[n8 source5 Resources expended Movement in fvnds Unrtstricted funds General fund 216.362 (216.773) TOTAL FUNDS 216,362 {216.773) Comparatives for movement in funds Net movement in fijnds At 31.3.23 At 1.4.22 Unrestricted fund5 G¢Deral fund 3.741 1,403,982 1,407,723 TOTAL FUNDS 3,741 1,403,982 1,407,723 Comparative net movement in fvnd4 included in the aknve are as follows.. IrKoming rtsources Resources expended Movement in t)dS Unre5trieted funds General fund 1,665,676 (261,694) 1.403,982 TOTAL FUIYDS 1.665.676 (261,694) 1,403,982 A current year 12 months and prior year 12 months combined position is as follows.. movement in funds At 31.3.24 At 1.4.22 Unrestricted fund5 General fund 3,741 1,403,571 1,407.312 TOTAL FUNDS 3,741 1,403,571 1,407,312 Page 17 continued..
DURHAM AMATEUR ROWING CLUB IW LIMITED Tr40TES TO THE FINAf4CIAL STATEMENTS- continued FOR THE YEAR EPIDED 31 MARCH 2024 20. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months cotnbined net TllovLinent tn funds, included in the above are as follow5.. Incoming resources Resources expended Movetnent in funds Unrestricted funds General fund 1,882.038 (478.467) ,403,571 TOTAL FUNDS 1.882,038 (478,467) 1,403,571 21. RELATED PARTY DISCLOSURES On 31 March 2022 the co¥npany purchased lo10 of ihe share capital in Durham Amateur Rowing Club Ltd for £1. This 15 included within investments in Fixed Assets. All income re£eived frorn this company is show) within investment income- shares in group undertakings. During the year ended 31 March 2024 the company recognised donations receivable from Durham Amateur Rowing Club Ltd of £48,000 {2023= £74,000}. During ihe year ended 31 March 2023 donations received from Durham Amateur Rowin(F Club toialled £1,440,676, of which £67.576 was received as a specific donatio and £1,373,100 was re1Ved by way of transferring its trdde and assets. Pabe 18