2024-03-31-accounts

Bo•t A t￿nY limilod by gU￿rt•• R•port •nd UN￿lIt•d Nna￿la1 Stat•m•nts 31 Mxch 2024 17431b17 Chartty number. 287680

151iryton Boat Commltt¢e Réport r ended 31 MJrch 2024 For th• The management committee Pfesent the annual re￿￿ and financial statements ofthe charity for the year ended 31 Marth 2024. The finanual statements have been prepared In accordance the accountit)8 polides set out in note i io the accounts and compty ¥Ath the tharivs trust deed, the Companie5 Act 2006 and Accounting and Reportin8 by Charities: Statement of Recommended Pracyce appli¢able to charities preparlng thèir a¢¢ounts in accordance with the Financial ReporW Standard awlKable in the UK and Aepubllc of Ireland leffectlve January 20191. OBJECTNESAIIDAcfNIrnS The tsllngton Boat Club established In 1974. Rs ¢￿atIOn was the result of a effectlve local campaign led by Crystal Hale. To Celebraie her achlevements as we mark the Soth yèaf of the aub's Ilfe, the Tfustses have rech￿Stened our main meetbn8 room in the aubhouse The Crystsl Hale Room The original objects of the charlty. 05 Set In the governing document were to provide facllltles In the Interest of social welfare and education ftx the benefrt of children. princip4lly bjt not exclusivety resident in the London Borou8h of IsllnBton. As Trustees, we recognisè thai we need also to aim to sefve the ¥￿der community ol Islin8ton. and ow Current range of actfrAtle5 reco8nise5 this. puBU¢￿￿EF1T The trustees have consldered the 8uldonce 155ued ￿ the Charlty Commiswn in Te5peci of the rtqulrement to provide puwic benefit. and bellève that by subsldlsln8 artlvttles from its tharitab￿ income land. where approprlate. offerlng concessK)nary rate51 the fees tharged a￿ such that no person would be excluded from participatin¢ because of financlal conslderatbons. NTSAWPEAFORPAAIKE The past year 2023124 has teen one ththere we have be8Urt to rebuild our artNIty after a very thallengln8 perlod. The Club 51n¢e 1983 has operated from its building and site teased from Isllwon Councll and adjacent to City Road Basin, Regents Canal. In May 2022. Ihe buihling was ck>sed, lolk)win8 a Council Inspe¢tlon. on safety younds partitularty because of inadequate electrkal and fire safety prowslon. Thi5 meant that the Club had to close Immedlatdy and wa5 not ablè to offer water.based actIvIt￿. A Serknu5 In¢ldent Report was later submitied to the Charlty Commlssion. The Councll made il clear that it would support effective artions taktn to reopen the Club and local Councillor Martin Klute took a leadlng role In 5afe8uarding the Club and helpin8 it to reopen. As a consequen¢e new Trust*es with different skill sets were appolnted- see full ltst of trustees and dates of appointment below- and ErTrc Sorensen becarne C￿1r. He is a long-standinz loc￿ resident and urban reBeneration specialist wrth wide educational and charity govemance experience. The Trustees are most gratefvl lor the quick finan¢lal SUPF4)rt from IslSngton Counul and thelr commissioning the significant refurbishment contract. This has now made the Clutrs premises safe wlth modern siandards of menity and ust. The refU￿1$hment works We￿ comFAeted bythe summer of 2023, and the Club was fomally reopened In Au8U$t 2023. 11Page

lin9ton Boat al Management Committee Report (continued) For th• y•ar •nd•d 31 March 2024 ACbl@4EMEIITSAND PEAFORMAII(E Itontlnued) The reopenin8 of the Club has enabltd us io offer a rangè of attiviti& to lotal youn8 people and older resldents, and to people wth additional needs. Amd we have benefited from finandal grants from lsh'ngton Council, in February 2023 and May 2024 respectively. Th4s funding enables us io ¢¢niinue runnin8 the Club as a golng. concem and to offer watersports at afforijable price& We are also grateful to many phllanthropic grant 8lvers who have supported us durln8 thls dfflkult perw)d. Having reopened onty in August 2023 mèant that we had. and continue to have. substsntial Work to do as a team to rebuild the Club'5 artwity. This task of rebuilding activity ￿ now our main foojs. Wilh strong emphasis on watersports, great SUPFOrt from the Counul and our ltscal community, and our team of watersports Instrurtors, we aim to rebuild the Club into a valuable and si8nifKant local resource. The Club's a¢tlvltles sln¢e reopenlw have been: 127 youth se5yon5, attended by 453 youn8 people 36-AOB- sesslons for 71 young people vlth addlllonal needs 692 young people attended via 5(hools and local 8roups. 26 schools and 6roup bookiw. 190 adults took part In ad1vff(￿s such as kayakln& SUP and narrowboatlnl. 236 local people lall a8esl enjoyed trips on our narrowboat. 47 vulnerable people went on wellbeing narrowboat trips courtesy of Canal & River Trust. 62 youn8 pe￿e enjoyed thelr birthdays at the club. 150 people visited the club durin8 the Arwel Ca￿1 Festival. FIpWK￿lI1WrfW Durlng the year. IBC received E20,58612023.. £16.8561 by way of fees arNI subscriptlons charged to participants In ¥¢tivitie5 Inole 31 ond Benerated a f￿her £18,81212023.' £17,414) from rentlr8 of premlses and facilit￿5 and urse fees Inoie 41. IBC can Pr￿Ide affordaNe acces5 to its facllltles and io the fundln8 It receNes. IBC acknowledge$ wlth 8rateful thanks the support from the Council. trusts, and indNldua15. Dur1￿ the yeaf £108.17212023: £134.7121 was raised from thEse source5 Inote 21. The Trustees Intend to contlnue the traditlonal mission olthe Isllwon Boat ChJb. whTr¢h is io provide water- based a¢ti¥ities and traini￿ Iocu5ed especially on youn8 peop￿, people over 50 and people wth addFtitinal needs. The Club's focus Is on people in St Peterfs and CanalsSde Ward of Islington Coun¢il. although not exclusively $0. The aub aims to work closely with other water 5POrts centres ènd with local charities. suth as The Angel Boat and the Friends of Graham St Park. to deliver activities that enrth the lives of1o¢31 people. and make good use of our great asset. access to the aty Rd 8asln and Re8enVs Canal. The TnJstees of the Club wish to iecord thelr thanks io 1s11n￿on Council and in particular to Cllr Martin Kjute. The￿ was an operatlng surplu5 In the year of £32.23012023'. deficlt £42,0481 resultlng In a surplus on the general funds of £14.36112023.. defidt £17￿69) at thÈ yèar Ènd. In A￿lUSt 2023. the Trustees put in placE plans that awn to Benerate sufficient inccffie to cover costs and rebuild reserves over a 3 year period. At 31 March 2024 the charlty also hekl Ell,24612023.' £76,292) In restrtcted funds. The movement on funds Is shown in note 16 and the purpose and timi￿Of restrirted and deslgnated funds Is detailed in notes 17 and 18. 21Page

blirylon ao•t aub Management Commlttee Report (¢01￿￿Kd) For the ear énd￿ 31 Manh 2024 STrucrvRE,fjWEIVIANCEAld>lAAX16EMEKr The tharlty Is constituted as an Assotlatknn model Charlty 3nd a company Ilmlted ￿ 8uarantee. incorp)rated on 28 july 1983. It is Bovefned by the re8ulatKJns set out in the Memorandum and Article5 of Association and is run by a voluntary Man4ement Commfftee elected from. and by. the members. Ai its rneet1n￿. of whlch the￿ were 10 durfing thls perlod, the Mana8effnt ConNnlttee revlewed the adfvltle5 of the Club, its financial p05itlon, and Its plans for Teopenin& with substantial finartcyal support a5 already noted from Islln8ton Coundl. The day to day ¥wrk of the cl￿ is mana8d and overseen by the staff 7fvtho arè responsible to. and report regulady to, Ihe Management Committee. The Club had three pemianent staff p051tions during the year, Club Manager. Ch1 Insirudor. and aub Administrator. and a small pool of sessional workers and self-employed coaches and instructors are eThda8ed as re9uired, dependin8 on the of actiwtie5. REFEPIPICEAPIOAWIIIISTAATM DETA lsllngton Boat aub is a company, Ilmlted by guarantee IrK'. 17430871 and reglstered In England and Wales as a charfty Ino.. 2876801. The reBiStered and prin¢tpal operaiine address is= 1fv34 Graham StreeL London, Nl 8JX. The membefs of the management commtttee, who are cofflpany dirertors and charlty trustee5, that seNed duTln8 ihe year and up to the date ofth15 repDrt were.. Appolnt•d E Sorensen M Sava8e 12 December 2022 8 February 2023 Chair noraryTreasurer l Rtswllnson F Gaddo N Dias C Bowe R Mlllard l February 2018 10 October 2019 2 Oe¢emb¢r 2021 12 December 2023 12 December 2023 5 Fèbruary 2024 30 Aprll 2023 Inde￿¢￿tE¥OfflIntr. Nicola Anderson FCA FCIE 189 Baklwins Lane Croxley Green 'tkmansworth W03 3LL Royal Bank of Scotland 40 Islingion Hi8h Street London Nl 8XB 31Page

]51ington Boal Ch Man•gement Committoe Rèport Iconllnuerf) For th• •ar ond•d 31 Marth 2024 CoM￿nY requlres the Manawnetff Committee to wepare financiol 51atemeTrtslor each f￿ancIal year. whKh glve true and fairview of the State of affairs of the chariiabbo Compony and the net Ino)rrlry resourw for the year. In preparinK the finan¢i•l st•ternefits the M•n•8ment Cornmitttt are required to: Sdect sultable occountln8 polldes apply them ¢onsIsten￿V Make JUdge￿nts arbd e5timètes that are reasonable and wudent repareihe finandal stsiements M a cuNKem basis uM55 rt is In•ppvo￿ate to doth1$ The ManogemeNI Committee Is respons￿e for keeFin8 proper accountini records whkh dlsclose wlth r￿sonable accuracy at anytime thefifi•nc)èl posttion of the c￿nt)ble comp•w •nd to enable ￿10 ensurethat the financlèl Strt￿entS comp blth the Compan￿5 N£t 2C06. It Is also responlbje for s•leeuardln8 the assets of the Chants￿eCompanY •nd hence for ¢•kln8 Steps lor the pre¥￿ti￿ •rxl detecyon of and other Irregu￿￿TIeS. Tht report and the ftnonclal statements have been prepared In •c¢ord•ntewlth the Speclal pro￿$10n$ ol part 15 of the (￿PanIeS Act 2C￿ relalln8 to small wtitles Provi5i(ffl of the Charlties Acts that detem)ine the form and ¢oNtent of t￿Ch41r￿ Annvol Report Statement ol Recommended Prattlceappllcableto charities preparirq their accounts irt •¢cord•nce wlth the Fln•ncl•l Reportln8 Stanthrd 102 a￿kab In the UK and fle￿k ol Irdand. AUNT direrfors ha¥e i¥ken •d¥•n￿ olsetlk#)4TI121 oftht ConwrblesAcl 2W6 whlch exempts th¢¢¥n￿nYfrorn the requirement to h4¥e th¢ a¢counts •udlted. The¢h•rlty Is requlred to h•¥t•n Independent eKarnlThat￿n In •ccordance ￿th the C￿ll￿t5 kt 2011. Approved by the M•n•6erMnt C￿m￿et￿n 21Jur 2024 •r4J sly*d on 6ts1)th•W bv.. E Sorv4•h ICh•lrl 41Page

Islington Boat Independent Examlnerf5 Report Fgr the Èar 31 Marth 2024 I r2pNI ts tht th8ritrfstrusteesoTr my examination oftt itt￿ts 0ftheI￿l￿n Wt Club (Com￿nY ￿. 1743087 Bnd charrty no". 2876801 for the year ended 31 Marth 2024 as on pa8es 6 to 16. Rspwshlttlesnd h￿sOf repNt % thetharii(strustees land also Its dlrectors for purFoses of corryny lawl are re5FonS1b￿ forthe wep•ration of theac£ounts in accordance vAthlhe requwtsnehts rfthe Companles 2U)61'the 2￿6 ACVI. Havlng satisfied myself that the accounts olthe Company orefiot requlred to be alkllted under Part 16 ofthe 2Cp)6 Act and are ell8ible lor Independent examln•tknn. I rewi im rtswt of my examlnadon of yourcharit(s orcounts 15 corr￿& gut under sectkn 145 olthe Charitie5 Att 20111'tt 2011 Arfl. In caryiw out wryeX•mw￿1Son I h•¥e fdlowed ihe Dertlons en by the C￿rIty Q￿mIssI￿ under sectim 145151 Ibl of the 2011A¢t Ind•peTrd•nt •umlnrfs St•t•fvxnt I ￿ve completed my examlnation. I confiTr that rb) mrtter5 hmcfymtomy Itten￿on kn CC￿r￿CtkIrb whh the exa￿￿n8tk)n gl%Ani me cause to bel￿￿.. •c¢ow)tln@ records were not kept in respect olthCorrwmi 8$ regutred by se(UoTh 386 of the 20C6 ￿t.. or the KCOLlnt5 do not a¢c•rd vlth 1tr05e rrfords.. crf Ihe •ccouThts dg not COm￿ywhth the Kcwntlni requlrerrtntsof Senlon 396of ihe 2￿6Act other th•n any requlrement th•t the xcoun15l • •nd falr ¥lv thth15 Thjta motter cOn5kler￿ •$ p•rt of •n Independent eurnin•Oon.' or the accounts have not bttn prepored iThxcord•n¢e the meth(￿5 and pdTrdF4es of the Statement ol fttcommended Prartlte for •¢counthg •nd reptytini by charftyes appjlcable to t￿1117t$ prep•dn8 thelr •cc¢unts In •ccord•nce ￿th the Nn•Kl•l Rewtirystsrwjard aPF4KablE In VK •rrtl Republ of keland IFR5 IQ21. I ha￿ no cvKern5 and have comt •uossno ¢)thu m•ttws lritonnectkn wlth the examlnatk>n to whlth 41tefttlon ShO￿d b• drawn l thls rep)rt h cfder to*h•ble• pr¢pef Underst•nth￿ of the attountsto be re•thed. FCA laE Dated.. 22 June 2024 189 Bald￿n$ Lane Croxlry Green Rlckman5WOrth Hertfoidshlr• WD3 3LL 51Page

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Isllngton 8￿t Club Not¢s to th¢ acwunts Forthe y￿r ended 31 Marth 2024 The financi stsiements boen prepxed in t(ordaKt¥ffththe5tatunertdRa(ommond&l Prxt4". Attoufvfjni char￿ES￿eparln8th￿rK(UUnts in iLrcrdanre￿ tht Financi ReyKrtini Starthrd appl¢Gib￿ in the UK Ireland IFRS1021 dleaive I lon￿ry2019 ISORP FRS 10213ndt￿ l¢pDrtiry Slanda￿aPpI￿O￿e Inthe UK Ireland and thecornpaniesklx￿6. Assets andlthbilits•renitialty recowNsed at li5wriulcostoi traThsxtbn ￿￿Je w1¢5$0th•rtse aated In the rdw•nt attountlty polKy rthe. atCtrJAtinl￿flÈlartj1Sted bÈh7w Theth3riry CC75tltutes a PLk bertfftvtysdp￿d tyFR$ 101. The Managemeni c0mmitteewillovwseethebui￿￿pefthe Uuys b￿ne$S•cl￿rty, fdlowlnithe rownlw in iummer 2023. ThSCom￿nOdW1lh tho of fv aub'5ry•Mtses￿thtJ￿tyt0 olfera weOn￿OIPaId fpr •¢tNf£le5, totrtherwith owabiltytocontinueto Iltrartiv￿￿l￿frthM è ran8eof wurtes. enl￿est￿ mana￿ent Cofflrnittee to tth5hkn Ihit theClubatthethreafsWr¥ls i W￿cr￿Cem7he Manwoni Committee L) noteonsider thai thueare JrysoufcesofestiwthYlUX•ttif4y arthÈrewttt date ttst h a Énific¥nt risk cl m•tl•l adlusiment rothe (￿￿80m0Uftts0t liatAl￿S￿lthIn tr next rep>￿'Tr¥ ppnod. RestrfrtedF¥nds These rewe5W inr41￿ rerefrndw￿eI¢arfC1I￿Q￿ ￿e, ￿deternI￿ed b¥thed0￿rf. ¥thth Thirrowirthin i UnrtsrrtctedFvés The5¢rew•sent ￿Corfi￿ b• uMdlortheAeMtsl objectsolthe th¥tt•N• t&n￿ny¥￿tttrffil￿ by the £¥ecut￿• Income is retoiristd oh¢¢th¢h•rliy ￿>¢nI￿￿n￿tOt￿ ItKryn4 rt L4wpb•WEthitlh irwmewMI be ree•bdaTrJ th• Imoun¢ ollncoff r￿e1¥a￿t￿n be rn&￿red rdlat. Intom frton aDdotherar¥ntslsre￿1Xd thethirtty hè5 enDdEwttOt￿1mdl aryFerformi e0ndttl￿5 itticth0dtoi￿8r1nts ha￿ tst•n ¢1 is probat4e￿i wll be and the arthnL can bEmoI￿r and15 not(lerred. Inc(wnt ol rec4wlkn belrerf L41Werredirtll let¥￿1￿)rt ¥rML Lp3trdiroes a¢e reco8nised ￿ swnJ5tfrére 15 è *lor cOr&tr￿T0tsfYiiOne0ryrtthwl1￿tkrfty i01￿t•￿[￿AlUre. It is protwble th415etr￿m￿[￿N berewlfed * Ihe anowtof the oblwbn ￿ be meas￿re￿ Al tspendrftwe is xtountedfwon the AHexwsé4 s￿￿te05￿￿￿￿O0y￿¢eCDMSare al>)catedorapportfftd iotraWkable expnthiwe Wlw. 81Page

Jslington Boat Club Notss to th• ￿O￿Trts (contirnwd) For the year •nd•d 31 Motth 2024 Act•￿tIftY pdld•s (ron￿r￿￿ Epper￿rtwe that iSth'rtttyattrlb￿t0￿QI￿ery0Itsch￿￿Qs thlt5arr45k¥luTrJ% I%￿￿XI￿totht￿tlVIfy 10 5upF•irÉ costscamw5EC05ts in[L￿d 1thgJw￿of these atttsltyey in gjpmcosrsarocosts knELYrod knth wrfemante ofthechèritywwate ￿¢h co￿rt￿l￿￿1￿I Y3tutory rw¥irnrts. IrrecovoraN•VAT ISdwydJplmtl￿tXF￿lRwÈ1￿•dIrylN1￿th waslrKwred. Items of Èqulpm•M rdèF É5COafe ca￿115ed and vawd at ￿$1￿£ cost. ischarled w￿35$etsare bro￿ht L•sehokJ buils Ewlk*neni 40years

iowrs st¢d invtAmertsare aformth bjskfirwthl Interest alth*r￿n5¥Y0n￿￿e 91Page

Isllngton Boat Club Not¢s to the a¢tounts {tontlNédl For the y￿r ¢fjded 31 M•rth 2024 Tgtsl 2024 Totsl 202J London 8orough ¢ll￿1n9t0ft National Lottery Awards All Port of Lendon Authorty 1Q832 7Q964 14961 4,985 EBM Chorit2tAe Tnjst Grènge Firm Trust Johnnie job￿ TnJ5t Uoy& Re9iSt Thames Water Whlr1rf41nO Trvsi Jack Pet C¥niuon Grarsts of than £1.5Crf) 1Q(lJl 4,976 4,727 4,420 1&0351 4,687 1Z2.780 44117 D•n•tioM Indi¥idv•ls Tfusts Corwotq SI,359 &442 3.696 60.055 490 s.￿2 T•tsl 1111171 lJ4.712 Totsl 2024 Totsl 2023 Subs(riptK)r& other member contribut￿5 Schools and Comrrww Group5 Other 4,233 14. 763 al.I56 10IPage

Islington Boat aub Notrs to the accowrts I￿n￿￿ed) For the year ended 31 MaKh 2024 Totsl 2024 Tot1 202J li5es and fxilithes renl Cwrse fees Profrt on 5Jkn o1•quiw￿t hel I¢L823 &596 1.0 313 9A14 6318 Cumnt V••r D•r•d Supp•rt 1¢ Toul 2024 Don3￿￿ & Legacl•s OtTrr traL*ng 11492 4.935 17A27 1&437 A493 22.930 2&929 11.831 40.7fj0 403 PrfvY••r DSr•rt Support T•tsl 2023 Don￿lOn$ & LegJde5 Othertradir¥J ￿t￿l￿•S 11464 &415 1Q385 5.308 15.693 24849 14270 S47 547 t¥r• T•tsl 2024 Youth groups 52,644 52.614 29,737 29.737 $8,789 6Q789 151,170 151.170 .PrltstY• Dlr•tt Totsl 2Q23 Youlh groups 29.158 a9.158 71.865 71.46$ 54.377 54.jn 155,400 155A(10

lirwjton 8oat Club N¢)t•s to th• arcounts {t0ntlrn￿j For the year ended 31 Marth 2024 Cunnl Ywr Tot 2024 5ts Saaries emises 21,119 25,749 19,714 20.4TI 3.660 46,868 19,714 20,477 1660 1.0 •1.719 Lryal Fees Jndependont Examinatioft 22,119 Jkxalion.. based on dKett staff costs c4 actr￿ty R*sirvJ lunds Charitable actmtses Noie S Nole 6 21930 789 91,719 Prf•r y•r Jpport Tot 2023 Salarfes Premises Office Le9al Fees IndepeTh¥￿t EAwThnatK 21,4S8 17.2C6 16,172 1Q472 1&172 10,485 3.750 1,OfXJ 70.071 13 3,750 26221 43.850 Allo(atlon.' based on dirf stsff ￿$ts of4¢tMty Aaisin9 funds Charitat4e act￿ltieS Note 5 Note 6 1&693 64,378 071 Support & goNtmance costs we alocated btted on staff lune swt on athit6es. 121Page

Islinglon lloat Ch Notes to th• •¢wints (conlwMMd) For th• y••r •ndod 31 Marth 2024 stsff costs as folw.. 2024 2023 Gmss saaries EmF4ryer5 Nl Emkywrs peNhJn Redund8 Contracted stoll and cornsuhts 99.541 266 1,795 400 4.935 66,527 563 1.283 21328 11¢9J9 92.701 Allrxèted.. based on tirne spent on eKh acts¥ity Support fjwn•￿e fiaiyrMJ Funds L￿1¥1 Ch4rit•W• ￿MtS 664 24,879 29,158 91701 17.427 51644 11&￿9 No erylo>e wned £60ml y 12Q23: The average n￿ber fvad cOL￿t based on numberof5taff erylwd on pwll dum9 the d5 a5 fdlo 2024 2023 Direct charitable actmtbes Support and Govem•nce 7.3 5.0 The charity tnjsioes Pa￿ nor rtcei%Yd any tsther berfits fnm ÉYnploynnt wpth the chan'ty in the year 12023.. nono). Iiustee Tecived ptymenl fer profe55h?nal seryice5 su01￿ to tht chirity12023.' Thonel. No trustee received reimbufsed expenses in ￿ yew12023'. wel. Tntstets made donations of £40.O)012023.. norel lo the charity No bénÈfitsac£nthd to the tnjstees In re¥(t of these dor￿1￿￿5. Ther• ¥Yw• no ot￿r rehted ptyiransaCtsO￿ (2023.. nornl. This i5Stated after th¥r￿￿j.. 2024 2023 DepreciatHJn Independwt Ex4mirrfs Y•muntrntion Indrywmlent ExminaiKYI Other 5eNces 13K 49,606 I,Q)O 3.075 131Page

Isllngton Boat Cl Not•5 to the accounts (cortiThd) For the year endod 31 March 2024 12. T•x•don As a charty, Boat aub tk exempt frtsrn tax on MKtimè and gains falling %ththin Section $05 of the Taxes Aci 1988 or s256 of the Taxa￿0￿ ol Charyeable GalAs Aci 1YJ2 to the Èxtent that these Iwe applTred to its chall￿le obieitw..No lèx charges have arisen in the Chority. 13. T•rylbl• Flx•d Aw•ts Le•xhold T•tsi 1 ￿ri12023 litions sposals 421928 256,267 5,069 11799) 679,195 11799) JI 2014 421,• 254SJ7 681A65 ) April 2023 Eliff4nated an disFQ5al Ch•r9e tor Ytor 421928 277,732 117991 640.660 117991 11 Marth 2024 422J21 22(711 fj51.661 Pl•t •ook Valu• 31 K4¥ch 2023 X535 535 31 2024 29N4 14. 202J V• Vlu UKlThwJtrn•nts AF Fixed Inteftsi Charithare Common InY4sknnt 9,370 11.334 19858 21.164 21.164 31,1•2 v￿uatiOn 411 Aprd 2023 th'sposals at Ma￿ety￿ue ILossllGn in y V•luolrf)n at 31 March 2024 31.192 I11.0￿) 1.062 21.164 31.420 12281 31.192 Marf(et Value at yearthl COM of holdSngs 21.164 31.192 114.3701 14822 1&164 141Page

Isllngton Boat C￿b N•trs to th• a¢¢ounts IwntlN•d) For the ye•r elm1￿ 31 Mar¢h 2024 15& Crtdim. •m•￿trI•l1￿ 2024 T•tsl T•tsl Tax and sotyal stturity Ct615 Deferred inctyn• Ac¢ruals Lw r¢pwNe 12 months 3.107 1850 7.978 5,129 1,745 21,662 3,816 (Mte 15b} 19 27.221 Deferred I￿oMe represents income fOr￿l￿tIe$ar 5eNce5 thot take place txdu*￿ty in fvture accountin9 periods. Deferred incOff￿ is rplea5ed in in th• fdkM"rrfJ XCtyJhbfg >wr. 1$￿ Cr•ditaf4' du• th OTr• )Tw 2P24 Totsl 202J Tat•l 8aknce at 1 April 2024 Repayments As rf 31 Z924 Reptyable wthir$ 12 mc•tl Aepayable ofter 12 months 23,322 132341 20.0 IS,1291 14J59 24,583 11,2611 23.J22 13,8161 19,506 Inoie 15•1 The loan 15 ur￿e£￿ed and repayaltowr 6 ￿r5 from 17 F¢￿￿ry 2021 vith • ontrye•r reprym•it holithy. Interest 15 fixed at 2.5% pa. At 1A2J R•E•w¢ Tr•ttsf•rs Al Jl.J24 7&292 117 1lO&OYI 112.00 1120.0941 11.246 Le9al Costs •Q117 1&069) 11240 vnrtslr1￿•d lunds EquIpff￿r¢t Funds Rwalyation R¢seNe X535 1￿22 5535/ 29,801 1&164 165• 4411 {IA 1.7a7 14361 Tot•1 UAv•Mrf¢tyd Fw J7 171,836) 131 00.329 Tof•l Fw 113.7¥J 1191.930) 71.575 151Page

Islington Boat Club N•t¢s to the a¢¢ounts {¢ontlNed) For the year ended 31 M4T¢h 2024 16b. Mo¥•m•nt In fvAd%- PTrlorY G￿n9 1¢ Tr•nrf•N At 31.3.25 At IA22 31257 11092 3.25n (5&6041 191.861) Actmties Total R•rtrlctsd Fw I21￿4 122.804 76.292 7&292 UrYe5tricted fi￿$ Dtswrt•redFunds EqUIprn￿t Funds luation Re5eNe 114349) ¥S35 1&622 5A557 17,050 71.934 Q281 1228) U4349J 24179 94113 1104,65ffj 122 37.481 Tot•1 FWM 141A62 1228) 11J.710 tyttles TPstlupthrweseni wsrtteldltsiWfk pwpJ5 that are narroYrthan th• wrilthèfftabobiert5. Quallty'n8ewÈrnlit¥re ischèr8•d a8ilnst lh• rd¥ntfund. Autthtqd acthkyfund51rn holJforfutUro•cr￿i￿$ Leyl Cos ThesehJfyJsreky•nth￿WeS￿¢t￿wrfftrI￿￿l leeslncurred In the ytir. 18. Pwry)OMA•f D•nthd Fund• Equlpmeftt Fuhds Tra1￿￿ 1￿MIdto￿￿ restrted and pnerlfuTrJs 0qUKq￿rrt to theeost ol fvxed 4sstsa¢wrèY. Oepreci•tson of IhEStJ5setsi5charnedaeains¢ th• I￿1. Trnn51•rs•re rnad• Irtyn ih•fur￿ wh￿reP￿se￿talrye a55etSare5Q￿. Thists wuiied tythe 2t¥J6 •rKI reweWntsthe•mo￿rd trlwhkth ifftstmentstxoedththr h￿tOr￿ tOSL 19. U•bilty of M•nth• TbEliabllty ofrnerthrs iitsrrlted tylwrantee. bekn1w0￿rf wd¥riret￿ gerfcd0frn￿bersh1p or Ihefdlowlryear, eath rnernbor wothd bo req￿lled ￿(on￿+￿tear&aMo￿Trt ￿L￿di￿£10. Thètotl n￿berS of iiw)tees at 31 M•rth 20241￿ 7512023.. 271. InacrorthKe with 5ub5eciiDn 37141 01t￿loCa and Huushw Aci 1989, all irants hwe teen fulty ￿lI1$IdIn accordan¢ewlth the teThs underw￿￿t￿￿ere ￿#￿VI￿Ar¥￿ed aNJ have been on T￿r￿¢ Itns In the Tr)mwl cour5eoftheth•rftat4ecoryarrfsaciM¥ 161Page