## Trustees’ Annual Report 28th August 2024 to 30th September 2025 ## **Charity Commission Registration No. 1209774** ## Table of Contents 1. Reference and Administrative Information 2. Structure, Governance and Management 3. Objectives and Activities 4. Achievements and Performance 5. Financial Review 6. Plans for the Year Ahead 7. Risk Management 8. Events After the Balance Sheet Date 9. Declaration ## 1. Reference and Administrative Information |**Charity name**|Torridge Pilot Gig Club CIO| |---|---| |**Registered charity**
**number**|1209774| |**Legal structure**|Charitable Incorporated Organisation (CIO) — Association
model| |**Date of registration**|28th August 2024| |**Registered ofce**|Stanhope House, Northam Road, Bideford EX39 3LA| |---|---| |**Accounting period**|28th August 2024 to 30th September 2025 (frst accounting
period)| ## Charity Trustees The following persons served as charity trustees throughout the accounting period: |**Name**|**Role**|**Notes**| |---|---|---| |Jef Sharp|Chair|Founding trustee| |Mark Christelow|Vice-Chair|Founding trustee| |David Stevenson|Secretary|Founding trustee| |Harriet Barber|Treasurer|Founding trustee; qualifed
accountant| |Tiki Hurley|Trustee|Founding trustee| ## |**Role**|**Ofcer**| |---|---| |Chair|Jef Sharp| |Vice-Chair|Mark Christelow| |Secretary|David Stevenson| 2 |Treasurer|Harriet Barber| |---|---| |Rowing Captain|Ruth Lovell| ## Bankers NatWest Bank ## Accounts Preparation As the CIO’s gross income for the period (excluding capital receipts from asset disposals) did not exceed £25,000, the accounts are not required to be independently examined. The accounts were prepared by Harriet Barber, the CIO’s Treasurer, who is a qualified accountant. ## 2. Structure, Governance and Management ## Governing Document Torridge Pilot Gig Club CIO is a Charitable Incorporated Organisation constituted under a written constitution in the Association model (a CIO with voting members other than its charity trustees). The CIO was registered with the Charity Commission on 28th August 2024. The constitution was subsequently revised in February 2025, converting from the Foundation model to the Association model, and was signed by all five founding trustees on 11th February 2025. ## Organisational Structure with the constitution. Day-to-day management of club activities is delegated to an elected committee of club officers. Officers are elected annually at the Annual General Meeting and 3 include the Chair, Vice-Chair, Secretary, Treasurer, Rowing Captain and a number of other roles covering membership, events, welfare, health and safety, and boat and equipment maintenance. ## Appointment of Trustees Charity trustees are elected by the members at the Annual General Meeting. One third of trustees retire by rotation at each AGM and are eligible for re-election. The constitution requires a minimum of five charity trustees at all times. Each trustee must also hold a valid CIO membership. The first trustees were appointed upon registration of the CIO on 28th August 2024. ## Induction and Training of Trustees New trustees are provided with a copy of the current constitution and the most recent Trustees’ Annual Report and statement of accounts on or before their first appointment, in accordance with clause 14 of the constitution. ## Decision Making Decisions of the trustees are taken either at a trustees’ meeting (quorum: two trustees, or one third of the total number of trustees, whichever is greater) or by written or electronic resolution agreed by a majority of all trustees. Members’ decisions are taken at general meetings or by written resolution requiring a simple majority of eligible voting members. ## The CIO has no subsidiary organisations or related trading entities. Trustees serve in a voluntary capacity and receive no remuneration. Trustees are entitled to reimbursement of reasonable expenses properly incurred on behalf of the CIO. No trustee expenses were reimbursed during the accounting period. 4 ## 3. Objectives and Activities ## Charitable Objects The objects of the CIO, as set out in clause 3 of the constitution, are: _“The purposes of the Club are to promote the amateur sport of Cornish Pilot Gig rowing in the Torridge area and community participation in the same.”_ ## The trustees have given careful consideration to the Charity Commission’s guidance on public benefit. The CIO advances its charitable purposes for the public benefit by: - providing opportunities for people of all ages and abilities to participate in amateur sport, specifically Cornish Pilot Gig rowing, in the Torridge area; - promoting health and wellbeing to all ages through regular physical exercise and outdoor activity on local waterways; - fostering community participation, social cohesion and camaraderie among members and the wider community; - developing coaching, coxing and water safety skills within the community; - organising and participating in regattas and community events that bring broader ## Main Activities To further its charitable objects, the CIO undertakes the following main activities: - Competitive rowing — training, selection and attendance at regattas across the South West and nationally, including the World Pilot Gig Championships; - Recreational rowing — regular non-competitive rows on local waters, inter-club exchange rows, and touring events; - Novice and development rowing — structured induction and training programmes for new rowers; 5 - - equipment; - Community events — hosting and participating in local regattas, commemorative rows and social events; - Welfare and safeguarding — operating welfare, safeguarding and code of conduct policies for the protection of all members. ## 4. Achievements and Performance ## First Year as a CIO to 30th September 2025. The new governance structure has provided greater clarity of purpose and accountability, and the trustees are pleased to report that the transition to CIO status has been achieved successfully. ## Membership club and the welcoming atmosphere fostered by its members. At the date of the Annual General Meeting on 26th October 2025, active membership stood at 116 (60 ladies and 56 men), comprising 16 Vets (age 40-49), 30 Supervets (age 50-59) and 57 Masters (age 60+). A total of 32 new members joined since the previous AGM (21 ladies and 11 men), with further individuals engaged in trials at the period end. members below the Supervets age category — as a priority for the coming year, with an aspiration to establish the club’s first junior crew in over ten years. 6 ## Competitive Rowing The men’s and ladies’ squads attended 18 regattas during the season. Highlights included: - IOS World Pilot Gig Championships — the club entered three crews and improved its overall position by 20 places; the Ladies A crew won Group C, earning the Chairman’s Cup award; - Appledore Regatta — the Supervets crew won both the Plate Race and the Sprint Race; - Roadford Lakes — the Masters crew won the overall trophy across six events; - Three Rivers — two crews competed; - - David Stevenson and Patricia Dymond both represented Devon at the National County Championships. David was in the winning men’s Masters crew and Pat won silver in the women’s Masters.; - Further race wins were recorded at Barnstaple and other regattas throughout the season. ## Recreational Rowing The recreational rowing programme continued to expand during the period, with a full calendar of non-competitive rows on local waters throughout the summer. Notable events included: - The Morbihan Regatta tour — a 5-day event covering 70 miles among 1,400 boats from across Europe; - Inter-club exchange rows with Lyme Regis Gig Club, Tamar & Tavy Gig Club, and Bristol Gig Club; - A programme of regular open rows available to all members throughout the season. ## Novice and Development A strong cohort of new rowers joined the club in spring 2025, progressing through regular summer training sessions to take part in their first regattas. The programme continues to benefit from the support of experienced rowers and coxswains. Plans are in place for a new junior section. 7 ## Cox Training and Development the year, 4 in active training and a further 3 awaiting commencement. Training activities included on-water race training, online race coxing training through the Cornish Pilot Gig Association (CPGA), and umpiring officials training. ## Community Events The club hosted and participated in a range of community events during the period, including: - The Torridge Regatta — a joint event with Appledore Rowing Club; - The blessing of the new gig ‘Champ’, attended by a local reverend and sea shanty singers; - The annual Float Bye commemorative row; - Regular club rows throughout the summer season; - A Remembrance Day row on 9th November 2025. ## Fleet and Equipment - Acquisition of a new lightweight gig, ‘Champ’; - Disposal of the gig ‘Will-to-Win’, which had served the club for many years; - Servicing of both trailers; - Acquisition of new oars, wheels and leathers; - ## Health and Safety Improvements carried out included: - Issue of new radios for coxswains; 8 - Full servicing of all lifejackets; - Delivery of a towing training course; - Ensuring all coxswains’ bags are fully equipped with lifejackets, whistles and ropes. A First Aid training course for members and further towing training are planned for the coming year. The trustees note that improvement in the reporting of minor incidents and near misses by members remains an objective. ## Welfare and Safeguarding No major welfare issues or concerns were raised during the period. A small number of health concerns relating to rowing were managed with appropriate support from the H&S Officer, coxswains and relevant rowers. New and updated policies for Safeguarding, Welfare and Code of Conduct were written during the period and submitted for final trustee approval. ## Awards Presented at the 2025 AGM The following awards were presented at the Annual General Meeting on 26th October 2025: - Will-to-Win Award — David and Richard, in recognition of outstanding contribution to the club; - Chairman’s Cup — the Ladies A crew, for winning Group C at the IOS World Pilot Gig Championships; - Most Promising New Rower Award (as voted by the club selectors) — Tom. 9 ## 5. Financial Review ## Accounting Period registration, 28th August 2024, to 30th September 2025 — a period of just over thirteen months. Subsequent accounting periods will run for twelve months to 30th September each year. ## Income and Expenditure A summary of the CIO’s income and expenditure for the period is set out below. |**INCOME**|| |---|---| |Membership fees|£6,853| |Rowing fees|£2,866| |Events income — TPGC|£1,149| |Events income — World Pilot Gig Championships|£782| |Kit sales|£962| |Donations|£80| |Grants received|£5,500| |Miscellaneous income|£22| |**Total income (gross income)**|**£18,214**| ||| 10 |**COST OF SALES**|| |---|---| |Events — TPGC|£338| |Events — other|£1,355| |Events — World Pilot Gig Championships|£923| |Towing fees|£884| |Kit purchases|£987| |Miscellaneous costs|£702| |**Total cost of sales**|**£5,189**| |**Gross proft**|**£13,025**| ||| |**ADMINISTRATION EXPENSES**|| |Insurance|£1,238| |Equipment repairs and maintenance|£1,571| |Equipment sundries|£2,001| |Online (website etc.)|£269| |Boat parking|£1,260| |CPGA membership|£556| |Training|£220| |**Total administration expenses**|**£7,116**| 11 ||| |---|---| |Depreciation|£560| ||| |**Operating proft for the period**|**£14,499**| ||| |**NOTE: Capital receipts from asset disposals**|| |Proceeds from disposal of gig Will-to-Win|£9,150| |_(Excluded from gross income above — capital receipt)_|| Gross income for the period, excluding capital receipts from asset disposals, was £18,214. This is below the £25,000 threshold at which an independent examination of accounts is required. ## Grants Received The CIO received the following grants during the period, all of which were unrestricted with no conditions attached as to their use: |**Date**|**Funder**|**Amount**| |---|---|---| |September 2024|Bideford Bridge Trust|£2,000| |February 2025|Devon County Council|£1,000| |May 2025|Northam Town Council|£500| |September 2025|Bideford Bridge Trust|£2,000| |**Total**||**£5,500**| 12 ## Asset Disposal During the period the CIO disposed of the gig ‘Will-to-Win’, realising proceeds of £9,150. This is treated as a capital receipt and is excluded from the CIO’s gross income for the purposes of determining the accounts scrutiny threshold. ## Balance Sheet Note — First-Year Asset Capitalisation assets acquired or gifted to the predecessor club in prior years that had not previously been capitalised. These assets — comprising gigs, trailers, oars and boat covers — have been brought onto the balance sheet at estimated values in accordance with the trustees’ asset capitalisation and depreciation policy. The net effect of these adjustments is reflected in the profit and loss journal entries of £29,070 shown in the accounts. Write-downs of £3,385 have also been applied to certain assets in line with the depreciation policy, resulting in a depreciation charge of £560 for the period. ## Reserves Policy The trustees’ policy is to maintain free reserves equivalent to one year’s essential operating costs. This level is reviewed annually by the trustees to ensure it remains adequate and appropriate. Reserves are defined as funds freely available to the CIO, excluding any restricted funds or funds designated for specific projects. such as urgent repairs or essential equipment replacement, or to address significant income shortfalls. Any use of reserves requires trustee approval. The CIO will allocate surplus income at the end of each financial year to reserves until the target level is achieved, and will pursue fundraising and grant income to support reserves where necessary. At 30th September 2025, free reserves as represented by the CIO’s bank balance stood at £16,483. The trustees consider this level to be adequate and appropriate given the CIO’s annual operating costs. 13 ## Fundraising During the period the CIO launched a fundraising campaign to support the acquisition of a replacement traditional wooden gig (to be named Will-to-Win, to continue the use of the name within the club). The fundraising target is £35,000. Activities include grant applications, public donations, crowdfunding, sponsored events, and a 100 Club lottery scheme. Progress will be reported in future annual reports. ## Going Concern The trustees have a reasonable expectation that the CIO has adequate resources to continue in operational existence for the foreseeable future. The accounts have accordingly been prepared on a going concern basis. ## 6. Plans for the Year Ahead The trustees’ priorities for the year ending 30th September 2026 are: - Increase younger membership, particularly attracting members below the Supervets age category; - - Raise funds to achieve the £35,000 target required to commission a new traditional wooden gig; - Continue to enhance competitive rowing performance across all squads; - Continue to nurture and grow the recreational rowing programme; - Increase member participation in the running and administration of the club; - Complete a First Aid training programme for members and deliver further towing training; - Improve the recording and reporting of minor incidents and near misses; - Conduct policies; 14 - - Carry out the planned refurbishment of the gig Kerens and continue the oar refurbishment programme. ## 7. Risk Management risks and the controls in place to mitigate them are as follows: |**Principal risk**|**Likelihood / Impact**|**Mitigating controls**| |---|---|---| |Injury to members on water|Medium / High|Qualifed coxswains
required for all outings;
fully serviced lifejackets and
safety equipment;
dedicated H&S Ofcer;
incident reporting
procedures; towing training
programme.| |Insufcient membership or
volunteer engagement|Low / High|Active recruitment
programme; welcoming
culture; structured novice
and development training;
broad range of ofcer and
volunteer roles.| |Financial — reduction in
income|Low / Medium|Diverse income streams
(membership, grants,
events, kit); healthy cash
reserves; active fundraising| 15 |||programme; annual budget
review by trustees.| |---|---|---| |Loss of key personnel|Medium / Medium|Multiple ofcers with
defned roles; rotation of
trustees by election;
structured handover
process between outgoing
and incoming ofcers.| |Damage to or loss of boats|Medium / High|Club insurance maintained;
active Boatswain
maintenance programme.| ## 8. Events After the Balance Sheet Date 2025: **26th October 2025 — Annual General Meeting.** Jaqui Jones was appointed as Treasurer, succeeding Harriet Barber. Allen Heath-Coleman was appointed as Rowing Captain, succeeding Ruth Lovell. A formal handover period ran from the date of Jaqui Jones’s appointment until Harriet Barber’s formal departure on 24th November 2025, during which both were involved in the transition of financial responsibilities. **24th November 2025 — Trustees’ Meeting.** Dave Allin and Jess Lloyd Jones were appointed as charity trustees. Harriet Barber formally stood down as a trustee and as Treasurer. Following these appointments the board of trustees comprises: Jeff Sharp (Chair), Mark Christelow (Vice-Chair), David Stevenson (Secretary), Tiki Hurley, Dave Allin and Jess Lloyd Jones. 16 ## ||**Torridge Pilot Gig Club CIO**|**Torridge Pilot Gig Club CIO**|**Torridge Pilot Gig Club CIO**|**Torridge Pilot Gig Club CIO**|**Torridge Pilot Gig Club CIO**|**1209774**|**1209774**||**CC16a**| |---|---|---|---|---|---|---|---|---|---| ||||||||||| ||**Receipts andpayments accounts**||||||||| ||**For the period**
**from**||28 August 2024||**To**||30 September 2025||| ||||||||||| ||||||||||| |**Section A Receipts and payments**|||||||||| ||**Unrestricted**
**funds**||**Restricted funds**||**Endowment**
**funds**||**Total funds**||**Last year**| ||**to the nearest £**||**to the nearest £**||**to the nearest £**||**to the nearest £**||**to the nearest £**| |**A1 Receipts**|||||||||| |Memberships|**6,853**||**-**||**-**||**6,853**||**-**| |Grants & Donations|**5,580**||**-**||**-**||**5,580**||**-**| |Regatta fees & Events income|**4,797**||**-**||**-**||**4,797**||**-**| |Kit & Other sales|**984**||**-**||**-**||**984**||**-**| ||||**-**||**-**||**-**||**-**| ||||**-**||**-**||**-**||**-**| ||||**-**||**-**||**-**||**-**| ||||**-**||**-**||**-**||**-**| |**_Sub total_**_(Gross income for AR) _|
**18,214**||**-**||**-**||**18,214**||**-**| ||||||||||| |**A2 Asset and investment sales,**
**(see table).**|||||||||| |Receipts from sale of fixed assets|**9,150**||**- 0**||**- 0**||**9,150**||| ||||**- 0**||**- 0**||**-**||**- 0**| |**_Sub total_**|
**9,150**||**- 0**||**- 0**||**9,150**||**- 0**| ||||||||||| |**_Total receipts_ **|
**27,364**||**- 0**||**- 0**||**27,364**||**- 0**| ||||||||||| |**A3 Payments**|||||||||| |Regatta costs (incl. towing)|**3,501**||**-**||**-**||**3,501**||**-**| |Insurance|**1,238**||**-**||**-**||**1,238**||**-**| |Equipment Repairs & Maintenance|**1,571**||**-**||**-**||**1,571**||**-**| |Equipment Sundries|**2,001**||**-**||**-**||**2,001**||**-**| |Kit|**987**||**-**||**-**||**987**||**-**| |Admin (incl. room hire, IT, misc, training)|**1,191**||**-**||**-**||**1,191**||**-**| |Boat parking|**1,260**||**-**||**-**||**1,260**||**-**| |CPGA Membership|**556**||**-**||**-**||**556**||**-**| ||||**-**||**-**||**-**||**-**| |**_Sub total_ **|
**12,305**||**-**||**-**||**12,305**||**-**| ||||||||||| |**A4 Asset and investment**
**purchases,(see table)**|||||||||| |GRP|**12,336**||**- 0**||**- 0**||**12,336**||| |Oars|**1,650**||**- 0**||**- 0**||**1,650**||| |Covers|**1,486**||**- 0**||**- 0**||**1,486**||| |Stock|**376**||**- 0**||**- 0**||**376**||| |**_Sub total_ **|
**15,848**||**- 0**||**- 0**||**15,848**||**- 0**| ||||||||||| |**_Totalpayments_ **|
**28,153**||**- 0**||**- 0**||**28,153**||**- 0**| ||||||||||| |**_Net of receipts/(payments)_ **|**-**
**789**||**-**||**-**||**-**
**789**||**-**| |**A5 Transfers between funds**|**- 0**||**-**||**-**||**-**||**-**| |**A6 Cash funds lastyear end**|**16,892**||**380**||**-**||**17,272**||| |**_Cash funds thisyear end_ **|
**16,103**||**380**||**-**||**16,483**||**-**| ||||||||||| ||||||||||| |**Section B Statement of assets and liabilities at the end of the period**|||||||||| |**Categories**|**Details**||||**Unrestricted**
**funds**||**Restricted funds**||**Endowment**
**funds**| ||||||**to nearest £**||**to nearest £**||**to nearest £**| |**B1 Cash funds**|Bank accounts||||**15,679**||**380**||**-**| ||Petty cash||||**423**||**-**||**-**| CCXX R1 accounts (SS) 10/10/2025 1 ||||||**-**||||**-**| |---|---|---|---|---|---|---|---|---|---| ||**_Total cash funds_**||||**16,102**||**380**||**-**| ||(agree balances with receipts and payments
account(s))||||Agreement Error||||OK| ||||||**Unrestricted**
**funds**||**Restricted funds**||**Endowment**
**funds**| ||**Details**||||**to nearest £**||**to nearest £**||**to nearest £**| |**B2 Other monetary assets**|||||**-**||**-**||**-**| ||||||**-**||**-**||**-**| ||||||**-**||**-**||**-**| ||||||**-**||**-**||**-**| ||||||**-**||**-**||**-**| ||||||**-**||**-**||**-**| ||||||||||| ||**Details**||||**Fund to which asset**
**belongs**||**Cost (optional)**||**Current value**
**(optional)**| |**B3 Investment assets**|||||||**-**||**-**| ||||||||**-**||**-**| ||||||||**-**||**-**| ||||||||**-**||**-**| ||||||||**-**||**-**| ||||||||||| ||**Details**||||**Fund to which asset**
**belongs**||**Cost (optional)**||**Current value**
**(optional)**| |**B4 Assets retained for the**
**charity’s own use**|||||||**-**||**-**| ||Assets used by the charity in delivering its
objectives (gigs, oars, trailers, covers)||||Unrestricted funds||**-**||**55,562**| ||
Stock||||Unrestricted funds||**-**||**376**| ||||||||**-**||**-**| ||||||||**-**||**-**| ||||||||**-**||**-**| ||||||||**-**||**-**| ||||||||**-**||**-**| ||||||||**-**||**-**| ||||||||||| ||**Details**||||**Fund to which**
**liability relates**||**Amount due**
**(optional)**||**When due**
**(optional)**| |**B5 Liabilities**|||||||**-**||| ||||||||**-**||| ||||||||**-**||| ||||||||**-**||| ||||||||**-**||| ||||||||||| |Signed by one or two trustees on behalf
of all the trustees|Signature||||Print Name||||Date of approval| ||||||||||| ||||||||||| CCXX R2 accounts (SS) 10/10/2025 2