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2025-09-30-accounts

Docusign Envelope ID: 36CBAFA7-23F9-8DB0-8127-F0CFDA3E3812

YEALM GIG ROWING CLUB CIO

TRUSTEES ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE 12 MONTHS ENDED 30 SEPTEMBER 2025

Registered Charity No. 1204237

Docusign Envelope ID: 36CBAFA7-23F9-8DB0-8127-F0CFDA3E3812

YEALM GIG ROWING CLUB CIO

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Dr Owen Moore (Chair) Chloe Longhurst (Appointed on 1 April 2025) Rosalind Booth Bethan McClements Antonia Joyce Elizabeth Stone Dr Mairead Mclntyre Roxanne Guy Charity Number 1204237 Registered Address: 37, Yealm Road Newton Ferrers, Plymouth PL8 1BH Independent Examiner Brian Dorgan 117 Clockhouse Road Beckenham, United Kingdom BR3 4JY

Docusign Envelope ID: 36CBAFA7-23F9-8DB0-8127-F0CFDA3E3812

YEALM GIG ROWING CLUB CIO

CONTENTS

Page
Report of the Trustees 1 - 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Statement of Financial Position 7
Notes to the Financial Statements 8 - 10

Docusign Envelope ID: 36CBAFA7-23F9-8DB0-8127-F0CFDA3E3812

YEALM GIG ROWING CLUB CIO

TRUSTEES' ANNUAL REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2025

The Trustees present their annual report together with the financial statements of the charity for the year ended 30th September 2025. The Trustees confirm that the Annual Report and financial statements of the charity comply with the current statutory requirements, the charity’s governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

The trustees who held office during the year and up to the date of signature of the financial statements were as follows:

Dr Owen Moore (Chair)

Chloe Longhurst

Rosalind Booth

Bethan McClements

Antonia Joyce Elizabeth Stone

Dr Mairead Mclntyre

Roxanne Guy

Objectives and Activities

The objectives of the club are to promote community participation in healthy recreation by the provision of facilities for rowing Cornish pilot gigs, for the benefit of the public.

Yealm Gig Club provides the following rowing opportunities for the local community:

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Docusign Envelope ID: 36CBAFA7-23F9-8DB0-8127-F0CFDA3E3812

YEALM GIG ROWING CLUB CIO

TRUSTEES' ANNUAL REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2025

All of the above provide the villages of Newton Ferrers and Noss Mayo (and surrounding villages) with the opportunity to participate in a team sport.

Key Highlights:

Over the past year, the charity has experienced another busy and successful period filled with remarkable achievements and increasing community engagement.

In the racing arena, the junior teams demonstrated outstanding performance by winning the winter league, securing victories at Salcombe, and achieving a Plate win at Hayle with three teams participating. The Men’s A team came close to winning the winter league, delivered brilliant successes at the Scillies, and engaged in thrilling, nail-biting races at Newquay. The young transition team is also showing promise, consistently achieving good finishes and we are thrilled that they are entering the World Championships in 2026. The ladies’ teams remain active and competitive, including participation by Masters at the Scillies.

The open sessions have been very well supported, thanks especially to the efforts of various club members, with beginner rowing sessions proving popular and welcoming new members regularly. The more senior group continues to row out regularly, fostering a strong sense of cohesion and camaraderie across the club. Summer sessions were particularly enjoyable, offering fun and social opportunities for all participants.

Investment has been made in essential equipment maintenance, with funds allocated to trailer upkeep, oar repairs, the purchase of new oars, and new cushions, ensuring comfort and safety for all rowers.

The committee has played a vital role throughout the year, and individual thanks are extended to each member for their dedication. Special appreciation goes to the coxes and those involved in maintenance, including Phil Carter and Darrell Marshall, whose efforts keep everything running smoothly.

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Docusign Envelope ID: 36CBAFA7-23F9-8DB0-8127-F0CFDA3E3812

YEALM GIG ROWING CLUB CIO

TRUSTEES' ANNUAL REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Challenges this year:

Despite these successes, the club faces ongoing challenges, notably in balancing the size of the club with the number of available coxes. Everyone’s involvement on the executive team and committee, along with the organisers, remains crucial to managing this dynamic and ensuring continued growth and success.

Plans for the future:

Our future aims include building on the benefits of being a charity; improving the facilities and equipment of the club – we recently placed an order for a new wooden gig boat to be delivered in time for the World Pilot Gig Championships in May 2026.

Land-based space for the club remains something we want to explore as is a permanent space at the harbour, enabling more regular time on the water.

Financial Review

Reserves policy

We are currently building finance to enable the purchase of a new boat, road trailer and oars (to improve racing success and raise the awareness of the sport locally). This will require between £30,000-£40,000.

Having purchased a new boat we are aware that there are a number of possible investment opportunities coming up that will support the club. This includes investing in upgrading our current gig shed, thinking about a further boat purchase (either GRP or wooden) and the prospect of a newly built shared shed in a local housing development.

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Docusign Envelope ID: 36CBAFA7-23F9-8DB0-8127-F0CFDA3E3812

YEALM GIG ROWING CLUB CIO

TRUSTEES' ANNUAL REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Statement of Trustees' responsibilities

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including FRS 102. The Financial Reporting Standard applicable in the UK and Republic of Ireland.

Company law requires trustees to prepare financial statements for each financial year give a true and fair view of the state of the affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing the financial statements, the trustees are requires to:

So far as each Trustee is aware, there is no relevant information (information needed by the charity's independent examiners in connection with preparing their report) of which the charity's examiners are unaware; and each director has taken all the steps that they ought to have taken as a director in order to make themselves aware of any relevant information and to establish that the charity's examiners are aware of that information and to establish that the charity's examiners are aware of that information.

Independent Examiners

Fresh Eyes Finance were appointed as Independent Examiners during the year and have expressed their willingness to continue in that capacity.

The Trustees have complied with their duty in section 17 of the Charities Act 2011 to have due regard to the pubilc benefit guidance published by the Charities Commission.

Date approved by the Board on signed on behalf of the Board: 7/15/2026

Dr Owen Moore

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Docusign Envelope ID: 36CBAFA7-23F9-8DB0-8127-F0CFDA3E3812

YEALM GIG ROWING CLUB CIO

INDEPENDENT EXAMINERS REPORT

I report to the trustees on my examination of the financial statements of Yealm Gig Rowing Club CIO for the year ended 30 September 2025.

This report is made solely to the charity's trustees, as a body, in accordance with the Charities Act 2011 and the Charity Commission’s Directions. Our work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees as a body, for our work, for this report, or for the opinions we have formed.

Responsibilities and basis of report

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. The accounting records were not kept in accordance with section 130 of the Charities Act;

  2. The financial statements do not accord with those records; or

  3. The accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.; or

  4. The financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for 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).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statement to be reached.

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7/16/2026
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Brian Dorgan

117 Clockhouse Road Beckenham, United Kingdom

BR3 4JY

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Docusign Envelope ID: 36CBAFA7-23F9-8DB0-8127-F0CFDA3E3812

YEALM GIG ROWING CLUB CIO

Statement of Financial Activities (Including Income and Expenditure Accounts) FOR THE YEAR ENDED 30 SEPTEMBER 2025

----- Start of picture text -----
Note Unrestricted Restricted Total Total
Funds Funds 2025 2024
£ £ £ £
Income from:
-
Subscriptions 10,675 10,675 11,757
Donations & Grants 46,452 - 46,452 2,030
-
Racing Donation 3,329 3,329 2,224
Fundraising Events 8,089 - 8,089 878
Other Income - - - 724
Total Income 68,545 - 68,545 17,614
Expenditure on:
Repairs/Maintenace 2520 - 2,520 6084
Insurance 1899 - 1,899 1913
CPGA subscriptions 1070 - 1,070 620
Meeting and event expenses 4490 - 4,490 304
Depriciation Charge 2434 - 2,434 4168
Shed rent 43 - 43 100
Accountancy fees 200 - 200 -
Website - - - 160
Race fees & costs 2950 - 2,950 2171
Other costs 2162 - 2,162 2065
-
Total Expenditure 17,768 17,768 17,586
Net Income 50,778 - 50,778 27
Transfers between funds - - - -
Net Movement in funds 50,778 - 50,778 27
Fund balances at 1 October 2024 30,751 - 30,751 30,724
-
Fund balances at 30 September 2025 81,529 81,529 30,751
----- End of picture text -----

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Docusign Envelope ID: 36CBAFA7-23F9-8DB0-8127-F0CFDA3E3812

YEALM GIG ROWING CLUB CIO

STATEMENT OF FINANCIAL POSITION

AS AT 30 SEPTEMBER 2025

Note
Fixed Assets
Tangible Assets
2
Current Assets
Cash at Bank
Total Net Assets
Income Funds
Unrestricted Funds
Total Funds
Trustee
Dr Owen Moore
7/15/2026		 2025
£
43,097
38,432
81,529
81,529
81,529		 2024
£
21,089
9,662
30,751
30,751
30,751

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Docusign Envelope ID: 36CBAFA7-23F9-8DB0-8127-F0CFDA3E3812

YEALM GIG ROWING CLUB CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

1. ACCOUNTING POLICIES

Company information

Yealm Gig Rowing Club CIO is a Charitable Incorporated Organisation incorporated in England and Wales.

The address of the registered office is 37 Yealm Road, Newton Ferrers, Plymounth PL8 1BH

1.1 Accounting convention

Basis of Preparation

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard aplicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

On this basis, the trustees consider it appropriate to prepare the financial statements on a going concern basis.

1.2 Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

1.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of the direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the assets used.

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Docusign Envelope ID: 36CBAFA7-23F9-8DB0-8127-F0CFDA3E3812

YEALM GIG ROWING CLUB CIO

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

1. ACCOUNTING POLICIES (continued)

Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters. Support costs are allocated on a percentage basis as detailed in note 7.

Charitable activities and Governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.

1.4 Interest Receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.

1.5 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.6 Cash at Bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.7 Liabilities and provisions

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation.

1.8 Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

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Docusign Envelope ID: 36CBAFA7-23F9-8DB0-8127-F0CFDA3E3812

YEALM GIG ROWING CLUB CIO

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

1. ACCOUNTING POLICIES (continued)

1.9 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

2. Tangible Assets

Item
GIG
Trailer
Oars
Shed
Covers
Life Jackets
VHF Radios
Charms
Other assets
Total		 Accumulated
Depreciation
Net Book Value
Cost
Addition
Depreciation B/F
Charge
on 30/09/2025
£
£
£
£
£
10,641
-
2,500
500
7,641
8,400
1,350
4,849
460
4,441
7,610
6,702
1,626
777
11,909
1,881
-
1,695
65
121
3,044
-
1,330
277
1,437
600
-
55
18
527
362
-
33
11
318
-
16,390
-
245
16,145
870
-
230
80
560
33,408
24,442
12,318
2,434
43,097

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