IIF.CIS'I'[I IID:D CIIAIIITY NUMiif4 11: 12047011 1'11)F.WAYS SCULLFIIS SCHOOL UnAlldlted Fiiiancial Slattnient5 (or the Ycai. Tr.Iidcd 31 May 2025 X¢iiiudiii l.ondoii l.imited Nighiiiigalc Hoiise 46-48 Last sli￿¢1 Surrc), K'I'17 IFIQ TJI)LWA YS SCULLFIIS SCHOOL Coiilorits of Ihc Tr'iiiajiclnl Statetiieiils foi. tlit year ¢iided 31 May 2025 Ilcptsrf of Ilie Ti'ust¢t5 IndcpoEideiil V.xaiiiliior'5 Ilepoi't Siattiiieiil of Flnaneial Aclivitlo5 Bulaiice shcct Notc5 10 Ili¢ FiiiaJiciRI Staleniciits 7 to 15 'I'IDFWA Y SCULLlIllS SCH()()L Iltporl ()f tlie'fi'uslees for Ilic yeRr cnde(13I MAY 2025 I'h¢ trustees prcseiil theiK YepoA ivith Ihe finaiicial statei)Jents of ihc cliarity for tlic ycar ciidcd 31 May 2025. Tli¢ Irustees hav¢ adopted ihc provisions of Aecounting aiid Rcpoi1ing by Chariiics.. 8t&lc17]ct)l of kccoii)meiided Praclicc applÉcable 10 cliarilies pi'epai'ing Il)cir rficcoiints in accordaiico iyiili the I".iiiai)cial Rcporling Standard applieablc in tlie UK and Ilepublic tsfii¢laiid (I."IIS 102) (cffeclivc l JaiiuaTy 2019). OIIJEcfivF.S ANI) AC'fivii'iFS idcivay Scullers Scliool Itlic Cliib) is a Cliarilablc Ilico￿Orated Organisaiioii (CIO), i¢gist¢rod ivith th¢ Chariti¢s Comii)i55ion. froiii ils foundatioi) in about 1958 Ilic Cliib ivds an uiiintorporai¢d ittoiiibois ¢lub, Ivitli a CIO regisi¢r¢d on 14th Sci)12023. l.ormal Irai)sfcr of ¢111 a%scts to tlie CIO occiirrcd 011 Isl Jiiiie 2024. 'Ilicsc accoiinis arc the first for1￿al a¢¢ounls foi. tl)c CIO siiice Ihc ITansfcr of tlic assels look pldcc. 'rhe Charily 15 gov¢171cd by its consliiulion, Ivith a bourd oflrnslces respoi)sible for slrdlcgic dircclioii, coinpliaiice, aiid ovcr5ight of all aclivilics. l)ay-lo-day Inanageinciit is dclcgaicd to appointcd 0￿1CCI5 and staff. 'Ilic sl¢iicd objcclivcs iii tlic coiislitution of tlic Club aie'iu ieacli aiid io cncouragc th¢ spoi1 of sciilliiig aiid roiving Iwiih ali cinphasis 011 5ciilling), to piDinole c02ninuniiy pjrtieipatioi) in the sani¢, aiid to slrivc for cxccllcncc in ihe SPOIt." 'I'hcse objectives are acl)icved by dclivering.. .RegulaY roiviiig scssitsi)s for Incmbei's of agcs aild abililics .Coaching aiid Iraii)ing prograinmcs, incliidinEiunior and scnior camps •Coininunily oiilrcaeli aiid fundraising cvciits .MaiiitCl?diice lid improveinet)i ofcliib faciliiie5 and ¢quipinciit ACHIF.VTr:MF.NT AND PEiifi()IIMANCE 'I'lic Club is still in ih¢ ¢ai'ly stagcs of its neil, ¢Nislciice as a CIO, and as siicli Ilic I rustees spent tiine dcvclopi112 appropria1¢ n)easuics for its propel. govcriiaiicc ai)d 11)aiiagcnieiit. Flaviiig doiic (hi5, Ihc), Ivill bc lookiiig lo develop eiv 3-}'oar plai? for tli¢ club's dcvelopi?Icnl.'niis ivill iiicludc a prograinmc of bringing in recruits to thc Jiinior prograiiiine fi'oiii divors¢ backgroiinds iii lii)c iyiili thc drivc from Briiisli rowiiig and devcloi)ing itddiiioi)al clianging 'I'he Jiinior aiid Maslcrs lovei. about 40 years of agc) seciions ar¢ ihriving, Iviih uii in¢r¢a5¢ in ov¢rall niiinb¢rs. I'he Jiiiiior COdcIILS broiighi aThd liiii¥hi many n¢ivconi¢rs, dovoloi)illg a fciy lip to Gr¢al llrilaiii Icpre5cntatioii levcl, with Inany goii)g oil io siiccc5sful uni%'¢rsily PTograinin¢s. I'lie Junior progi'uiiime ivas supported by ai) anoiiyii)ous granl aiid by 8raiil5 from Ihc Sir lark P¢lcliey l oiindatioii. A boat ivos naiiied after Sii. Jack to rccognise his foundation5 conlributioii lo ilic Club ovci. th¢ y¢ar5, on tlic occasion ofhis dealh. 'I'he Inaslers. scclioiis repic5enlcd Ilie club ivith 511cce55 in rnany evcnls in ihc UK aiid abroad and provid￿ an ini'aluable rcci'ealjojilc I facility fDr maiiy ol its Incniber5 11,lio did Jiot iyant lo rac¢ but w3nl¢d to cnjoy iho b¢ncfils offh sport in proyidiiig recrcaiioiidl diid social opptriluiiilies. 'IThc 3¢11ioI's (19 to 40) seclioii Ilas bccii bcloiv Ilic dcsired level for a couplc ofyeais, bul the Club brought iii a coach rrotti Noiv /.caland ivl)o il is Iiopcd ii'ill develop th¢ activities ofil)is groiii). aiid iiiilicil 5ig115 (irc tlial this iyill liappcii. Oll¢ ofilio Cliibs uiiiqii¢ points is tlic Alec Ilodgcs S¢ulliiig courscs (i)aii)ed ¢iftei' oiie ofoiir founding Ineinbers) iYhi¢li coJ¢li all¢oiM¢rs at all Icvcls froiii Ilie UK aiid abi'oad. 'I'lics¢ coiiiii)Ii¢ to bc siic¢e5sful ajid pJDvidc iiol OFhly a service lo lh¢ I'oiviiig ¢oiniiiiinil)' bul provide fiiiaiicial siii)porl lo Ilic geiicral cohchiiig al Ilie Club. 'Iiblle beiiefit Ill sctliiig objeelives aiid plat)iiiiig aClivili¢s, Ihc Iriisices liiiv¢ giv¢n diic ¢onsidgTalioii lo geiiei'al giiidai)cc published by ili¢ Cliarily Coinniission rclalillg io public bencfii, incliidiiig Ihe giiidaiic¢ 'Publi¢ bBsiefil.' rui)Iiing a chai'ily (P132)'. Tll)fi WA YS SCULLFIIS SCIIOOI, Ilcpoj't of Ilie Tj-uslccs for Ilic ytay eiide(131 May 2025 'INANCIAL IiTr.vifi W .1 idcivAJi Scullei3 School Cliai'iiable Incorporatcd Orgaiiisalioii (73S CIO) il'a5 IEgistci'ed 011 141h S¢p¢ 2023. foJ71121 Iraii%fcr of all asseis fi'oin lh¢ previous unincoi'poriiicd Ineinbcrg club (CASC slaliis for ihc piiiposes oftax effcclivc fi'oiii 21-12-2003) to 'l-S8 CIO occurrcd on 151 Jiine 2024.'Ih¢sc accoun15 ai¢ tlie first foni)al accoiijils for ilie CIO sit)cc the transfer ofihe asscts look place #iid have been prepared 011 ihe bd5iS as a Ira115fcr ord goiiig conc¢rn. '] lie CIO'S total iiicoine for Ili¢ pcriod iva5 £498,785, (year ci?dcd 31 May 2025). 'fiiis included doiiaiions and l¢gaci¢s of £133.524. Incoine froin charitable activilies of £318.118 tn¢ludod £181,533 fi'om niciiibcrship subscriplioiis. I'Npeiidiliirc on cliarilable aclivilies M'as £464,202. Boat aiid equipinci)t Inainlcnance lolallcd £53,484. '1'hc lotal cost or coaching ivas £135,210, Ivliicli is by far ihe siiigle biggcsl outlay Ili¢ CIO has. -l-Iic iiet i'csuli 15 tliat ihe CIO'S fund5 incrcuscd by £12,729 for the year ¢nded 31 May 2025. 11 is nolcd tlial th¢"Jui1ior Cainp l."Iiiid" lias a negalivc balancc, it is anticipnicd that Iliis posilioji ivill be rcciified for yeai. cndiiig 31 May 2026, othcJ'ii'i5¢ tliis negaiiv¢ bdlaiic¢ ivill bc ii'rilleii doivn. 'I'lic Club has differciil classe5 of Iiicinbership aijd sets subscriptioiis 01) a nuii-discriniinalory arid fair basis. Subsidised ratcs are availpblo lo Iliose ]￿el￿berS in rcceipi of Univcrsal Crcdil. lioserycs polSey I'lie'lriistees rcvi¢iv tlie fiitiire largc speiid IEquireIiicJils of ilic Club oil a IEgular basis. Iii additioii, il nioi)iiors ihc loi)g- lerin I'cquirem¢nts i?eccssary lo kecp ilie Cliib's facilities iii good oixlci.. '[ o Il)is end a buildiiigs reserve has b¢¢n establislicd to piii asidc fiinds for Inajor repairs io the prciniscs. At 31 May 2025 ioLIl chai'ilabl¢ fiiiids Micrc £326,089 Ivliicli includos the Iici book valuc of ihe I'oiviiig Èlcct of £ 196,675 (31 May 2025). (yoiiig coiicci'n Aflcr Inakiiig appropriktc enquiries, the tnistees have a rea50nabl¢ expeclalioii tliat Ilie Charily had adequate TC50urccs lo coiiliiiiie iii opcialional cxislciicc for ihe foi¢sceablc fulurc. I"'or Illi5 reasoii, Ilicy canlijiuc lo adopl th¢ going coiicci'n basis iii prcparing tlie fiiirtncial stalciiients. lillrtli¢r details rcgarding Ili¢ adoption oftlic going coiicem basis raii bc foiind OUII AIMS Foli TTIF NbXT YF.AII .1 jic CIEJb is Iiianaged #s scyeral diffcrcni groups, cach of ivliieh ha5 diffcring aiins as ihoy Hrc al diffcrcnl stagcs of healih aRd devclopinciit.'I'his is A grLir plan iddr¢5sing all ihcse HIEas to ¢D5UYC tlial iiivcslineiit is I￿ade iii tlic I'iglit places to ciisiiir Ihe club progrcsses. s'riiucTUIII,:, GOVF.IINANCF. AND MANAGfMFNT GovcriiiiiE dociilliciit 'Ilie charily is coJ)Irollcd by lis gov¢rning docuiiicnl tind coiislitules a cli8ritabl¢ iiicoipoi'aied orgaiiisalioii. RTr.1ILRENCb; Ah'l) Al)MINIS'I'IIATIVb: DF.TAILS Ilegistcre(I Clifti'ity iiuaiiber 1204708 Pi'siieii)al address 'I'idciva)' Sciillci% Scliool Cl)iswick ili'idgc Diikcs Meadoii, l)aii Masoii l)rivc W4 2SFI TIDEIVAYS SCULLERS SCHOOL Report uf iho Truslees for flie year end¢d 31 MRY 2024 Trustees fvlr Fi J S Clarke Mr F S￿Pple Mr c r iVilliaiF)$ MT N Mtchesftcv Mr W Clolicrty MsPMPeel liidependtnl Ex#iiilntr X¢iii¢idiii London Liniited NiLlilingpale House 46-48 East %ITcel Epsom Suriey KT17 IHQ Approved by Order ofilie board of iwsitts on .. oiid signed on lis behalf by.. C F Williams .1 tustee Iiidepciidoiil FxHiiiiiici"s Ilcporl lo tlic Ti'iislees of 'ridcivay Selillei'5 fjeliool Indcpeiiderit exd?niiiier'$ reiiorl to tlic Iriisleey of Tideivlly.S¢ullevs Seliool rcijorl to Ilic cliayity tr1151ces 011 11)y exdniinalioii of tlic accoiiiils of I'ideM'ay Seiillcr.$ S¢liooI (Ihe .1 rust) for the }ycar ct)dcd 31 May 2025. Ilesp0115ibilities 911d bAsis of i'eport As Ilic eliarity trustccs of Il)c I riisl yoii ar¢ rcspoiisiblc for tlic prcpdiniion of tlic accoui)Is iii accordanc¢ wilh tlie requircii)C1115 of ihc Cliaritics Act 2011 ('Ihc Act')- iepoyi in rcspcet of itt), exainiiiation of tl)c Tnisl'5 accouii15 carricd oiit Lindcr Seclioii 145 ofthe Ac( and in caThying oiil my exan)iiiatioii I liav¢ folloivcd all applicabl¢ Diieclioiis givcii by Ilio Cliarity Coillinission uiidci. Sectioi) 145{5)Ib) or Ihe A¢1. liidtiionil£lll ¢%aiiiiiici 5 5tal¢iMcMI I Iiave coiiiplolcd Iny c¥ainii)alion. I confiriii iliat 110 Inat¢i'ial nialt¢rs liav¢ coii)o to in}J ftllcniion iii coiineclioii with Ili¢ ex<11ninaiion gsving i)1¢ ¢auso to bcli¢v¢ that in any iiiat¢rial Ir5P¢CI'. actOUlllii)g It¢ord5 Iv¢r¢ noi k¢pt irt Yesp¢ci of ili¢ I'njst as rcqiiired by Sectioii 130 ofihc Act: or Ihc accounts do nol accoi'd M'itl) 1110sc Yccords,. or Ilie accounts do iiol conipl}' M'iih tlic ¢ipplic&blc requircJllciitS Collcetniiig Ilie fonn aiid coi)tcnl of accouiils sci out in thc Cliarili¢s (A¢¢oiiiils und R¢poTis) Ilcgulatioiis 2008 oihcr than any Icqusreii)e211 tlial Ihc accounts givc # li￿¢ alid fail. vieii, ii,hich is not a 11)altei' coii%idorcd as pai1 oran iiidci)endciil cxaiiiin£ilion. hav¢ 110 coiic¢riis aiid have come across iio other niallcrs in ¢oiEli￿1IOn iviili Ilic cxaminalÉon lo ivliicli allclltioii should bc draivii iii tli15 repoil iii ord¢r to eiFable a proper undcr5tanding of the ac¢oiints to be rcaclicd. Fla7.el l)ay Xeiiiadin l.ondoii l.ii)iitcd Nigliliiigalc Flouse 46-48 Ldsl 81rect F.psoi Siirrcy KT17 IIIQ Dat¢.. 'I'II)FWA YS SCUI.Lb:RS SCHOOL Slalcineiil of FINaiicig1 Acliyities ror Ilic year eiiiled 31 Mn), 2025 Uiii'e5Iricted fuiids £ TotAI rc5ti'i¢led funds £ 2025 Total funds £ lii¢onio And eiidoi%'iMeiits from Notcs Doiidtions ai)d l¢gacic5 104,302 47,143 318,118 29.222 133,524 47,143 318,118 Cliariiable &¢15vil￿¢S Inveslnlellt incon1¢ Tolhl 469 563 493 785 Raisii?g rtinds fundiaisiiig 4,150 1.027 5,177 Eioii-charitable Irthding Chwyilable Aclivitit5 16,677 434.794 16,677 464,202 29,408 TotAI 455 621 486 056 Nct Iiicome ReeontS1iatioii of fiinds 'rotal funds brouglit foi'ivard 279,388 33,973 313,360 Tolfil fiEiid5 cni'ricd forward 293 329 326 089 'Ilic noles forni parl ofihcse fina¢Jci1c I stÉilcin¢iits TIDEWAY5 SCULLERS SCHOOI, ilalance Shecl JI Mfiy 2025 2025 UllTe51rici¢(I Tolal 2024 To1dl ritnd5 Noi¢s FIXED ASSETS Fixed Ass¢ls 242,584 202.3?5 CURRWNT ASSFTS blocks Debiors Casli at baiik in Iiand 2.699 38,411 98,475 139,585 5.O4.S 10,609 91.638 CRF.DITORS Aiiiouiiis falling due iviiliin Oiie year 10 56.080 35,294 NETCURRENT ASSETS 83,505 I'O'I'AL Assf.TS LESS CiJRRENT LIABILITIES 326 089 3111669 CIIIDITOIIS Aniounis fttlliiiL due after mor¢ than one year -S.309 f4fr.T A.SSET5 326 089 J13360 FUND.5 Viir¢slri¢l¢d fiiRds Resiri¢ied funds 293.129 32.760 279.388 TOTAL FVNDS 326 089 The fingiiLial slalemenis were approvtd by Ihe Board ofTruslees aiid puiliori5cd for issii¢ (Ni ftiid wcr¢ siu)ed on its b¢l)aifby.' Tli¢ Iioles foiii) part of Ih¢5o fin11 ncial Sl¢ii¢iiieiJls 'rii)V.WA YS SCULLTr.IIS CIIO()L Nott5 to Ilie fiitiniicial.staleiiient5 foi. the yenr cijded JI May 2025 ACCOUNTINC I)OLICIF.S BASIS ()F I)IIF.I>AIIING I'IIF. FINANCIAL STA'I'P.M>:N'rs Tlic finaii¢ial slateircnls of ihe cliarily, Ivliich is a public bciicfit eiitily undcT riis 102, liave been prcpdrcd in a¢coTdaiice iviili Ilie Cliarilics soiip Iriis 102) 'Atcuiinling and Il¢poriing by Charities: Stalcmet)l or Recoiiiiiiended l)raciic¢ applicRblc to Gharilics prcpariiig ihcsracroiinls in accoi'danc¢ iviih the fiiiunci1t I Ilcporiii)g SiaiidaTd applicable in thc UK aiid Ilcpiiblic of Ir¢latid (FIIS 102) (cff¢cliv¢ l Jaiiuary 2019>,, Finii ncial Rcporting Standard 102 '1-lio l.-iiiai)cial Reporting Standard applicable ii) Ihc UK and Il¢piiblic of Ir¢lai)d' and tli¢ Cl)arities Aci 2011.-l-Iic findiicial staieincnis havc bccn pycpared uiidcr Ilic hisloriral cost coiivention. 'nie5c financial slatciiients contain ii)for17)alion in relation lo ilic Cliarily oiily. 'I'he PT¢s¢nlational cu¥reiicy of Ilicsc finwicial staicmeTI15 is GIJP. 'I'lic Cliarity is a public bciicfil ¢iilily. -lThc cliarily has lakeji advaiildgc of ihc folloi¥ing di%¢losiir¢ cxeinplioji iii prci)ariiig thcsc fJiian¢ial slatcnicnts, as pcrinilled by I,"IIS 102 '1-h¢ finaiicial Rcpoi-ling Si#ndard applicable in Ihe IJK aiid Republic of Irclaiid,: tlic reqiiirei]]ciits of Scclion 7 Staleni¢iit of Cash fioivs. INCOMb: All ii)comc is rccogniscd iii ihc Slatem¢nt of finaiicial Aclivilies oiice Ihe charity has cntitlcmcnt to Ilic fuiids. il is probable ilial Ilic iiictsine Mfjll bc rcc¢ived and ihc aimoiiiii cali bc ai)casurcd rcliably. FXPFNI)I'ruiiE Liabililics arc recogiiiscd as cxpcJidilur¢ as soon as Ilicre is a Icgal or coi)struclivc obligalioii coiiin)illiiig tlic chai'ilsl lo Ilial cxpcndiliire, il is probable Ihal a liaiisfcr of econoinic bciiefiis ivill bc required iii seltlcincnt and the Al￿Oi11]I of the oblsgalioi) can bc Ineasul'ed roliably. Expei)ditiire is aecoui)ied foi. oli ali accI￿alS basis and has bccii C1￿7SsIf￿ed Iiiider Iie(Idiii85 that aggTcgate all cost related io ihc clliegoi'y. Wlicre costs cannot be direcily atli'ibulcd lo pariitlilar Iicadings Ili¢y have becii allocated io aciiviiics oji a basis consistclll Iviili tlic use or r¢souico5. 'rANGIIILF. FIXF.D ASSEI'S 'laiigiblc F￿¥¢d 4tssctS circ iiiiliall), nieA5urcd at cost and subscquciiily iiicasurcd at C05t or valu21ioii, ncl or depreciaiion and any iinpainneiii Ios5¢5. J)cprccialioJi is rccoBlljSed so as to ivriic offllic ¢v$i oi. valiiatioii of asscts Iloiviiig & gym ¢quipincnl-. Nciv boats l O-ycar slinigl)t line S¢¢oiid hand boats 5-ycar straight linc Li'gos 5-year sti'aiglii linc Lauiicl)es.' 5-yetsr stiaight lin¢ Iii)proveii)eiils to Propci'l}':10-ycar straight lin¢ Rackiiig foi. 14oals= 5-ycai' slraiglii liiic 'ruck L'l rail¢i': 'I'ruck- 10-ycar slraiglii linc 'Ihil¢r: 5-)'car sli'aiglil lili¢ l)ladcs are cxpciiscd sji Ilic ycar of purchase. 'I'lic gaiii or108s arising ihe disposal of an 4?sset Is delei'inii)ed as ihc diffcFencc bclivccii the sal¢ pivcc¢ds aiid tlic carrying valiic of ilic assei, hiid is recogni5cd in the slatciiient of fiiiancidl ticiivilics. Asseis ivith a purchase pi'ice cxcceding £1,000 and iyitl) a usofiil li(¢ excceding l ycar aye capiialised. S'I'OCK ACCOUNI'INC. I>OI.ICY Stock5 are staie(l ai Ilie loii'er Of co81 and esliinalcd s¢llii)g pricc Icss cost5 to coi)Iplclc and s¢ll. Cost coiiipriscs dirccl 11?aterials an(t, Ivherc appliciiblc, direti laboiir Costs aiid those oveFlicads tliut Iiavc becn iti¢urred iii bi'iiigiiig Ihc stocks lo ihcii. piesciii locatioii and coi)iincnl costs 105,194 104,292 Tlicrc iverc no eniployecs ivhosc aiiiiiial reiiiiineratioii was iiiOTC tha]1 £60,000. TRU5TE4 ES, RF.MUNfi IIATION AND IIEI NF.filT.S I'h¢re ivcr¢ i)0 trustees, reii)uncration or oihcr bencfits for tlic ycar elided 31 Ma), 2025 nor for tlie year ¢nd¢d 31 Muy 2024. I'RUSTETr,S' F.XPF.NS*:S Costs reiiiiburscd foi. expci)diiiire k)aid pcrsonally on behalf of the Charity totalled £6,112 for tli¢ ycar ciidcd 31 May 2025 (£15.615 foi. year cnded 31 May 20241. cuiiliniicd... 'riDEWAYS SCULLfi 11.8 SCIIOOI, roi. tlie yeHr ciideil 31 May 2025 C()MI>AIIA'I'IVE5 fioll TIIF. STATFMFN'f OF FINANCIAI. ACTIVITITr S Uiire8tJ-tctcd ruiid5 £ 'rotal J'esli'i¢tcd 2024 1.otal funds £ IEieomo And ei)doM'niciit5 fron Notes Doiialions and legacies Oihei. Iradiiig aciivitics Cliarilablc activities IIivc5tiiicnt inconi TotAI 115,985 42,132 35,386 151,371 42,132 313,211 471.328 33,386 506,714 Exp¢iiditur¢ oil Kaisiiig Punds 1,069 1,069 iioii-charilabl¢ Iradi118 Cliai'itable ftetivilies 16,007 403,722 16,007 428.108 24,386 'I'olnl 419,729 25,4155 445,184 Net liieoine Il¢concilialioii of fiiiids 'I'olal funds brought foj'ivard 227,789 24,041 251.830 I'otld I fuiid5 C8rrie(I foi'wttrd 279 388 313 360 10 I'IDb.WAY.S SCULLV.I