2025-03-31-accounts

Charity number: 1207174

SERPENTINE RUNNING AND TRIATHLON CLUB

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

SERPENTINE RUNNING AND TRIATHLON CLUB

CONTENTS

	Page
Reference and administrative details of the Charity, its Trustees and advisers	1
Trustees' report	2 - 8
Independent examiner's report	9 - 10
Statement of financial activities	11
Balance sheet	12
Notes to the financial statements	13 - 19

SERPENTINE RUNNING AND TRIATHLON CLUB

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 31 MARCH 2025

Trustees	C Arrebola, Chair (appointed 23 February 2024, resigned 26 June 2024)
	V Leroy, Chair (appointed 28 May 2024)
	I Ahmed, Treasurer (appointed 23 February 2024)
	C Shelley, Secretary (appointed 1 April 2024)
	C Sowerby (appointed 23 February 2024)
	H Ho (appointed 23 February 2024, resigned 26 June 2024)
	G Crepaldi (appointed 28 May 2024)
	J Lockspeiser (appointed 28 May 2024)
	H Walker (appointed 28 April 2025)
Charity registered number Principal office Secretary Chair Accountants	1207174 Flat 1D Portman Mansions Chiltern Strret London W1U 5AJ C Shelley V Leroy Griffin Chartered Accountants Courtenay House Pynes Hill Exeter EX2 5AZ

Page 1

SERPENTINE RUNNING AND TRIATHLON CLUB

TRUSTEES' REPORT FOR THE PERIOD ENDED 31 MARCH 2025

The Trustees present their annual report together with the financial statements of the Charity for the period 23 February 2024 to 31 March 2025.

Whilst the Charity was incorporated on 23 February 2024 it did not become fully operational until 1 December 2024 following the transfer of the assets and liabilities and members from the previous entity, Serpentine Running Club. The review of activities outlined below covers the activities of both Serpentine Running Club and the Charity during the period ended 31 March 2025.

Objectives and activities

a. Policies and objectives

The objectives of the Charity are the promotion of community participation in healthy recreation in particular by the provision of facilities for running, swimming and cycling and the opportunity to participate in running and triathlon events.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Strategies for achieving objectives

The Club encourages everyone to participate in running and/or triathlon and multisports. While several members have competed at international level for England and other nations in running, track & field, duathlon and triathlon competitions, we also have a very active beginners’ group. We offer training sessions that cater to every ability and ambition.

The Club hosts the Serpentine Running and Triathlon Club Last Friday of the Month (LFOTM) 5km road race every month in Hyde Park. The race is open to everyone and is organised by volunteers from the Club. The entry fee for this race is kept low to help ensure maximum community participation.

Every year on New Year’s Day, we host the Serpentine New Year’s Day 10K (NYD10K) race and 3K Fun Run on traffic-free paths within Hyde Park and Kensington Gardens. The 10k race is open to all abilities with a maximum of 650 runners. The organisation of the race relies on the volunteers and members of the Club.

c. Activities undertaken to achieve objectives

The main activities undertaken in relation to those objectives include providing formal training sessions, facilitating social runs and cycle rides, supporting Club members to enter races, organising races for the public and local community and organising races solely for Club members.

While our roots are in road running, Club members now take part in all sorts of sports loosely related to running. We compete in road races all year round and participate in cross country races in winter and in the summer, our women’s and men’s track & field teams compete across various leagues. The other major focus of the Club is triathlon and multi-sports and our members compete in every distance and discipline both in the UK and abroad.

d. Volunteers

The Charity is volunteer led and is reliant on our members to keep the Club running. Volunteers support the Club in various ways including as qualified coaches and leaders, officiating at races and events, marshalling at races, assisting at Club runs and cycles, trustees and committee members and backroom help which includes administering the website, updating our social media channels and assisting in our marketing activities.

Page 2

SERPENTINE RUNNING AND TRIATHLON CLUB

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025

Objectives and activities (continued)

e. Main activities undertaken to further the Charity's purposes for the public benefit

Since inception, the Charity has supported the community by providing opportunities to participate in running, swimming or cycling as a member of the Club and by organising regular races for the wider community of nonmembers. The Club membership fee has been kept low to ensure membership is affordable and discounts are provided to those members who are less able to afford the membership; this includes those members who are under 21, over 65, students and unwaged. The Trustees confirm that they have considered the Charity Commission’s guidance on public benefit.

A major component of the Club’s strategy is to encourage more individuals to take up running and triathlon, which is targeted through the offers to members of beginner's courses in these sports. The Club also offers free trials to prospective members at our Wednesday evening and Saturday morning social runs.

Achievements and performance

a. Main achievements of the Charity

Membership

Membership of the Club has been relatively stable moving between 1,100 and 1,200 members over the last two years. The Club stepping back from the organisation of the Juniors’ training session last year led to over 50 Junior members not renewing their membership. Our agreed strategy is focused on growing younger, female and more local (to Hyde Park) members.

We continue to attract over 300 new members a year although the majority of new joiners do not renew. This has been the case for a number of years. We are currently working to better understand how to better engage newer members to encourage them to stay and participate in more of the Club’s activities.

Coaching and training

During the period to 31 March 2025 each week we offered all members an average of five running training sessions (track, hill and off-track), and four to six social or specially led road runs in different venues around the London area. We also facilitated a monthly trail run outside of London. Additionally we ran a number of programmes aimed at beginners and improving runners. The run training sessions are supported by England Athletics qualified coaches and coach assistants, and the social, led and trail runs organised by qualified run leaders. The Club sessions were supported by at least eight active run coaches and eight run leaders. At 31 March 2025, almost 400 of our members were registered as athletes, coaches and/or officials with England Athletics.

The Club also runs two swimming training sessions and facilitates one or two social cycling rides each week, as well as a multi-sports training camp in Lanzarote each year. During the period the weekly sessions were supported by five qualified coaches from the British Triathlon Federation or from Swim England.

Page 3

SERPENTINE RUNNING AND TRIATHLON CLUB

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025

Achievements and performance (continued)

Competitions :

Road running

Road running is our most popular discipline with 352 members participating in over 22 races in the last year including eleven handicaps, five Summer League events and six Club Championships, which includes a virtual marathon. A notable success was the Serpentine men's team coming first in the Cabbage Patch 10 mile race in October 2024 which was one of the Club Championship races.

The Club participates in a number of Road Relays including the Green Belt Relay where we had two teams competing.

Track and field

Whilst not historically an athletics Club, the Club competes in three athletic leagues; the Southern Counties Veterans Athletics Club (SCVAC) league, the Southern Athletics League and the Rosenheim League. Both the ladies and the mens veterans teams won the mid-London division of the SCVAC and took part in the overall finals in Oxford. Over 132 members competed across thirteen meets.

Cross country

The Club is active in cross country, competing in the Met League and the Sunday League; in addition teams are entered at various local championships including cross country relays, the South East of England championships and the English national championships. One of our members, Katy Casterton, was the first female in both the North London cross country and the Liddiard trophy. The mens and womens teams came first at the Liddiard meet; at the North London cross country the Serpentine mens veterans team came first and both mens and womens teams came second. 95 members competed over 17 races in the 2024/25 season.

Triathlon and multi-sport

The Club has a very active section of members who participate in various triathlon events. There are a series of races that members are encouraged to participate in. There is a winter league of indoor activity to encourage members through the months where the weather is not conducive to outdoor training. At 31 March 2025, over 100 of our members were registered with the British Triathlon Federation, a large number of whom participate in multi-sports competitions.

Page 4

SERPENTINE RUNNING AND TRIATHLON CLUB

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025

Achievements and performance (continued)

Serpentine Races :

LFOTM

The Club continues to host the Last Friday of the Month, a 5km race in Hyde Park. There have been an average of 260 entrants each month over the last year. This is a race aimed at the local running community and entry pricing is positioned accordingly. Like all of our activities this race relies upon the ongoing support of our members to volunteer for a variety of roles.

NYD10k

The Club has hosted the NYD10K for a number of years. Each year the event typically sells out in advance of the race. The race attracts a range of participants including tourists in London for the New Year festivities and local residents. This year the race was postponed at short notice due to the Royal Parks Charity taking the decision to plan to close the park due to an adverse weather forecast. The race was eventually rearranged for the 12th January 2025. The event was successful despite last minute course changes due to icy conditions, however participation was considerably lower than a normal year.

Handicap

The Club hosts a monthly members only race in Hyde Park. The race handicap system is set up to allow for all entrants to be able to win the race. We have a range of members competing across the age spectrum and it provides competitive opportunities for all.

Summer Grand prix

The Club continues to host a series of member only races across the summer ranging from 1km to 5km. This allows for members of all abilities to participate in a friendly, but competitive, event hosted by the Club.

Summer league

The Summer League series of 5 mile and 10 km events took place with a number of members participating in the various races across London. This is a series of races that is free to members and guests that is family oriented with the option of shorter distances and mixed relay events followed by a picnic for all attendees.

Social

The Club has traditionally hosted a summer and winter party to allow for members to engage socially. To make these more accessible to all members the Club has recently begun offering places free of charge to those members who otherwise may not be able to afford the ticket price. The Summer Party ticket price is positioned at a level to be accessible to as many members as possible.

To recognise achievements, participation and encourage engagement a range of social events take place over the year. There is a regular monthly social held at the School, usually on the last Wednesday of the month. There are also a number of discipline specific events held at appropriate times during the year e.g. Cross Country, Track and Field.

Page 5

SERPENTINE RUNNING AND TRIATHLON CLUB

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025

Achievements and performance (continued)

Volunteers

The Club does not have any employees and is entirely run by volunteers, whether they act as trustees, coaches, leaders, officials, operational committee members, organise Club training, social activities, races, or support the Club IT infrastructure, marketing and communications, membership and volunteers organisation. We continue to be extremely grateful for all of the time that they put into supporting the Club without which we could not provide the range of activities we do today.

b. Review of activities

The Club’s accounts reflect a transitional year where the assets of the former Community Amateur Sports Club (CASC), Serpentine Running Club, were transferred to the Charity. It is therefore not possible to offer straightforward comparisons of financial performance.

The Club is planning for revenue of c. £200k in the current financial year, and has budgeted for a small surplus. The Club also holds reserves of c. £277k some of which are held as prudent cover for a loss of revenue. The Club plans to develop a financial policy to more formally determine how these should be used.

The Club has consulted with members on uses for the excess reserves. A significant proportion of members feel this should be held as a contingency against adverse conditions or applied to securing a long term home for the Club.

c. Investment policy and performance

The Club does not hold any investments other than cash. The vast majority of cash reserves are held in interest bearing accounts. The Club has spread the total amount of cash held across four UK Banks and Building Societies taking into account the Financial Services Compensation Scheme limits i.e. no more than £85,000 is held with any one institution at any time.

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

Page 6

SERPENTINE RUNNING AND TRIATHLON CLUB

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025

b. Reserves policy

Having considered the risks and the requirement for reserves, the trustees have set a minimum cash reserve level equal to twelve months’ expenditure; this is considered to be sufficient to be able to maintain the Club through any interruption to its activities and to be able to maintain its position as one of the largest running and triathlon Clubs in Britain.

The Charity held reserves of £276,519 at 31 March 2025 which largely comprises the reserves that had been built up by the Serpentine Running Club since it was founded in 1982; these were transferred by the Serpentine Running Club to the Charity following the migration of the Club’s operations to the Charity in accordance with the Asset Transfer Agreement. Reserves of £269,461 were donated and these are shown as a donation in the financial results for the period ended 31 March 2025.

The Trustees acknowledge that the level of reserves at 31 March 2025 are in excess of the amount required under the policy and have consulted with members on uses for excess funds and will determine a course of action that will be communicated, once decided.

c. Financial review

The Charity achieved a net surplus for the period ended 31 March 2025 of £276,519. This included the one-off donation from the CASC of £269,461. Without the donation the surplus for the period was £7,058.

The balance held on unrestricted funds at 31 March 2025 was £276,519.

Structure, governance and management

a. Constitution

Serpentine Running and Triathlon Club is a charitable incorporated organisation governed by its constitution dated 22 February 2024.

b. Methods of appointment or election of Trustees

Trustees are generally recruited from amongst the membership of the Club, with a focus on the skills that are needed for the Charity to continue to thrive and serve the sport of running and triathlon. Occasionally trustees from outside of the membership of the Club may be appointed should a skill be missing and a position be vacant. All trustees must retire at each Annual General Meeting and the vacancies arising may be filled by the decision of the members at that meeting; retiring trustees can stand for re-election at that meeting. Under the Constitution there must be between three and eight trustees.

The Charity is managed by two committees which work together: the Governance Committee and the Operational Committee. The Governance Committee consists of all of the trustees including the chair, the Club treasurer and secretary, and the membership lead. The Operational Committee consists of the chair, secretary and treasurer, and four additional committee roles who are not trustees.

Page 7

SERPENTINE RUNNING AND TRIATHLON CLUB

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025

Plans for future periods

The Club aims to extend its reach by attracting more members to experience the benefits of running and triathlon. As part of this the Club is looking to grow its membership to around 1,500 over the medium term horizon.

The Club wishes to disproportionately grow certain segments of members as the composition of Club membership has changed over time. Specifically the Club wishes to grow, as a proportion of the total membership, the number of female members, younger members aged 21-34 and members who live local to Hyde Park.

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).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles of the Charities SORP (FRS 102);

• make judgments and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Constitution. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees on 26 June 2025 and signed on their behalf by:

V Leroy (Chair of Trustees)

Page 8

SERPENTINE RUNNING AND TRIATHLON CLUB

INDEPENDENT EXAMINER'S REPORT FOR THE PERIOD ENDED 31 MARCH 2025

Independent examiner's report to the Trustees of Serpentine Running and Triathlon Club ('the Charity')

I report to the Charity Trustees on my examination of the accounts of the Charity for the period ended 31 March 2025.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 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 the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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 that in any material respect:

1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

2. the accounts 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.

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 accounts to be reached.

Page 9

SERPENTINE RUNNING AND TRIATHLON CLUB

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed: Dated: 15/7/25

Laura Waycott FCA

Griffin Chartered Accountants

Courtenay House Pynes Hill Exeter EX2 5AZ

Page 10

SERPENTINE RUNNING AND TRIATHLON CLUB

STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 MARCH 2025

Note Income from: Donations and legacies 4 Charitable activities 5 Investments 6 Total income Expenditure on: Charitable activities 7 Total expenditure Net movement in funds Reconciliation of funds: Net movement in funds Total funds carried forward	Unrestricted funds 2025 £ 269,461 48,725 1,697 319,883 43,364 43,364 276,519 276,519 276,519	Total funds 2025 £ 269,461 48,725 1,697
		319,883
		43,364
		43,364
		276,519
		276,519
		276,519

The Statement of financial activities includes all gains and losses recognised in the period.

The notes on pages 13 to 19 form part of these financial statements.

Page 11

SERPENTINE RUNNING AND TRIATHLON CLUB

BALANCE SHEET AS AT 31 MARCH 2025

Note Fixed assets Current assets Stocks 11 Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Net assets Total net assets Charity funds Restricted funds 14 Unrestricted funds 14 Total funds	5,067 21,089 278,075 304,231 (27,712)	2025 £
		- 276,519
		276,519
		276,519
		276,519
		- 276,519
		276,519

The financial statements were approved and authorised for issue by the Trustees on 26 June 2025 and signed on their behalf by:

V Leroy

(Chair of Trustees)

The notes on pages 13 to 19 form part of these financial statements.

Page 12

SERPENTINE RUNNING AND TRIATHLON CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

1. General information

Serpentine Running and Triathlon Club is a charitable incorporated organisation registered in England and Wales, registration number 1207174. The registered office is Flat 1D Portman Mansions, Chiltern Street, London, W1U 5AJ.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting 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 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Serpentine Running and Triathlon Club meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.

2.3 Income

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

2.4 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 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.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

Page 13

SERPENTINE RUNNING AND TRIATHLON CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.7 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.

2.8 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.

2.9 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 Charity 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. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.10 Financial instruments

The Charity 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.

2.11 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 Charity and which have not been designated for other purposes.

Investment income, gains and losses are allocated to the appropriate fund.

Page 14

SERPENTINE RUNNING AND TRIATHLON CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

3. Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

There are no critical accounting estimates or assumptions.

4. Income from donations and legacies

	Unrestricted	Total
	funds	funds
	2025	2025
	£	£
Donations	269,461	269,461

5. Income from charitable activities

Unrestricted funds 2025 £ Kit supply 3,690 Membership and affiliation 21,070 Event provision and sporting facilitation 23,965 48,725	Total funds 2025 £ 3,690 21,070 23,965
	48,725

6. Investment income

	Unrestricted	Total
	funds	funds
	2025	2025
	£	£
Interest income	1,697	1,697

Page 15

SERPENTINE RUNNING AND TRIATHLON CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

7. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted funds 2025 £ Kit supply 3,681 Membership and affiliation 958 Event provision and sporting facilitation 38,725 43,364	Total 2025 £ 3,681 958 38,725
	43,364

8. Analysis of expenditure by activities

Kit supply Membership and affiliation Event provision and sporting facilitation	Activities undertaken directly 2025 £ 3,681 958 29,353 33,992	Support costs 2025 £ - - 9,372 9,372	Total funds 2025 £ 3,681 958 38,725
			43,364

Page 16

SERPENTINE RUNNING AND TRIATHLON CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

8. Analysis of expenditure by activities (continued)

Analysis of direct costs

Kit expenses Official body affiliation fees Event fees	Kit supply 2025 Membership and affiliation 2025 £ £ 3,681 - - 958 - - 3,681 958	Event provision and sporting facilitation 2025 £ - - 29,353 29,353	Total funds 2025 £ 3,681 958 29,353
			33,992

Analysis of support costs

Audit & Accountancy fees Rent Admin costs Website costs Legal expenses Bank fees Insurance Training Travel expenses Trustee and committee mandatory checks Charitable and polictical donations	2025 £ 2,648 810 20 2,113 1,382 810 849 522 120 68 30 9,372	Total funds 2025 £ 2,648 810 20 2,113 1,382 810 849 522 120 68 30
		9,372

9. Independent examiner's remuneration

The independent examiner's remuneration amounts to an independent examiner fee of £2,220.

Page 17

SERPENTINE RUNNING AND TRIATHLON CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

10. Trustees' remuneration and expenses

During the period, no Trustees received any remuneration or other benefits.

During the period ended 31 March 2025, expenses totalling £ 324 were reimbursed or paid directly to 4 Trustees in relation DBS checks and other affiliation fees.

11. Stocks

	2025
	£
Kit stock	5,067

12. Debtors

Due within one year Trade debtors Prepayments and accrued income	2025 £ 468 20,621
	21,089

13. Creditors: Amounts falling due within one year

Trade creditors Accruals and deferred income	2025 £ 18 27,694
	27,712

Page 18

SERPENTINE RUNNING AND TRIATHLON CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

14. Statement of funds

Statement of funds - current period

Statement of funds - current period
			Balance at
			31 March
	Income	Expenditure	2025
	£	£	£
Unrestricted funds
General funds	319,883	(43,364)	276,519

15. Summary of funds Summary of funds - current period

Summary of funds - current period
			Balance at
			31 March
	Income	Expenditure	2025
	£	£	£
General funds	319,883	(43,364)	276,519

16. Analysis of net assets between funds Analysis of net assets between funds - current period

Analysis of net assets between funds - current period
Unrestricted funds 2025 £ Current assets 304,231 Creditors due within one year (27,712) Total 276,519	Total funds 2025 £ 304,231 (27,712)
	276,519

17. Related party transactions

The Charity has not entered into any related party transaction during the period, nor are there any outstanding balances owing between related parties and the Charity at 31 March 2025.

Page 19

SIGNATURE CERTIFICATE

REFERENCE NUMBER C7F12496-D6B6-4FC8-AE52-5B8E7BEBE01E

TRANSACTION DETAILS DOCUMENT DETAILS Reference Number Document Name C7F12496-D6B6-4FC8-AE52-5B8E7BEBE01E Serpentine RC CIO -Full Accounts Transaction Type Filename Signature Request Serpentine_RC_CIO_-Full_Accounts.pdf Sent At Pages 09/07/2025 08:42 AM EDT 22 pages Executed At Content Type 13/07/2025 03:43 PM EDT application/pdf Identity Method File Size email 184 KB Distribution Method Original Checksum email 498eb5f5e48e708d101f21af4ff945052ed590ce1344ba786342b359643d42de Signed Checksum 92e6ee27dd498287f3e1e33d35df425d110486198357ed9c26973edc4128288a Signer Sequencing Disabled Document Passcode Disabled

SIGNERS

SIGNER E-SIGNATURE EVENTS Name Status Viewed At Veronique Leroy signed 13/07/2025 03:39 PM EDT Email Multi-factor Digital Fingerprint Checksum Identity Authenticated At [e-mail] 4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945 13/07/2025 03:43 PM EDT Components IP Address Signed At 2 54.144.112.110 13/07/2025 03:43 PM EDT Device Microsoft Edge via Windows Drawn Signature Signature Reference ID 9022C001 Signature Biometric Count 4 Drawn Signature Signature Reference ID CA7F5567 Signature Biometric Count 4

AUDITS

TIMESTAMP	AUDIT
09/07/2025 08:42 AM EDT	Team Griffin ([e-mail]) created document 'Serpentine_RC_CIO_-Full_Accounts.pdf' on Chrome via Windows from 52.45.54.47.
09/07/2025 08:42 AM EDT	Veronique Leroy ([e-mail]) was emailed a link to sign.
13/07/2025 03:39 PM EDT	Veronique Leroy ([e-mail]) viewed the document on Microsoft Edge via Windows from 52.45.54.47.
13/07/2025 03:43 PM EDT	Veronique Leroy ([e-mail]) authenticated via email on Microsoft Edge via Windows from 54.144.112.110.
13/07/2025 03:43 PM EDT	Veronique Leroy ([e-mail]) signed the document on Microsoft Edge via Windows from 54.144.112.110.