Idlngtoii BoAtCk A comp4ry Ihnltod by gui*•iiioe Forth•y••r•nd•d Jl M•rrh 2025 ComparywJmb•r. 174Xn7 ¢h•rlty nwnb•r. 2876x1
Isllngton Boat aub Managemènt Committee Report (contlNed) For the ear ended 31 Mafth 2025 FINAN(JALREVIEW ICoNnNUEDI There was arb operatin8 surplus ongeneral funds In ihe year of £g,55412024.. £32,230) resultlng in free reserves at the yÈarend of £23.91512024.. £14.3611 at the year end. The Trustees have put in place plan5 that aim to eenerate5ufficient Incometo co¥ercosts and rebuild re5er¥e50¥er 5 year5 to thedesired level of £60.OJOwhlch would be enoueh to cover approximately 6 months of fixed costs. At 31 March 2025thecbarty also held £37.879 in de5i&nat¢d funds and E14.63912024-. £11,246> in restrlcted funds. The movem•r¥t on fvnds Isshown In note 16and the purpose and MIng of restricttd and desl8nat•d funds IJ detalled In notes 17 and 18. The charlty Is constltuted as on Assoclatlon model Charlty and a company limited by 8uaranteo, Incorporated on 28 July 1983. It Is governed by the r4ulations setout in the Memorandum and Artkles of Assoclatlon and Is run by a voluntary Management Comm5ttee elected from, and by, Ihe members. At Its rneetlnB5, of whkh there were 10 durln¢thls perlod, the Mana8ement Commlttee re41ewed the Jctlvltle5 of the Club, bis finantial positlon, ènd its plans for reopenln8, wtth siJbstaTrtlalfinanclal 5UPPQrt J5 olready noted Irofft Isllngton Coundl. The day to day work of the Club Ss mana8ed and overseen by the staff who are responsIb to, and report regularly tts, th Management Commlrtee. The Club had three pernent Staff posltlons durlngthe year, Club Manager. Chief Instruttor. and aub Administrator. and a small ptstsl of sèssional workers and sell-employed coaehes and instructors who are en8a8ed a5 require<l. dèpending on th• level ol artlvities. RtitRINC¢ ANDlEAlSTA*I All$ Isllniton Boat Club 15 a company, limited by 8yar3ntee Ino.. 17430871 and registered in En8land and Wales as ¢harlty Ino: 2876801. The rè8iStered officè and pilndpaloperatlnladdress Is: 16-34Graham Street, London. Nl 8JX. The members ofthe mjnaiement committeè. who arethe companydlrectors and charftytnjstees, that served durin8 th• year and up to the dote of thls report were: E Sorensen M Savage F GaddD C Bowe R Mtllard V Uoyd 5 December 2022 8 February2023 IOOetober2019 S December 2022 5 December 2022 5 Juty 2024 Chalr Honorary Treasurer National Westrnlnstrr Bank 10 Upper Street London Nl OPQ Nicola Anderson FCIE 189 Baldwins Lane Crcxlèy Gen RickmansworthWD3 3LL
Idington Bo•t Uub Managèment Commlttee Report {c•nllnued) For the year ended 31 Mar<h 202$ Company law re4usres the MaTha8emtnt Committee to PTepare financial slatements foreach finanrial year, which Blve true and fairviewof tht state of affaivsof the Chantab company and the nÈt Incorning resources forthe year. In preparing the finandal statemen15 the Management Committee are Tequired to: 5electsuitable aCCDtsntin8 Fh£e3ndaPplvthefflCaI5tent Make jud8ÈmÈnts ènd Èstirnaies thataie rÈ35tsftablÈ Preparethe fInancl staiementson a 8oln8concern basls unle55 rt Is InapproprfatetodotN5 The Manaiert)en1 Cfjrnmttrtt15 responsIe10T keerA proper accountlng record5 whlch d15d05e wlth reasonabk 8ccur&ry atiny time thÈfinallEpoSrttr¢n otthe thirltable compty ènd to thablÈ fft totnsurÈthat the fin•ncil statementscomply with ihe Comp•nle5 kt 26. It Is •lso responslble for 5•fe¥rding ihe assets of the charlt•bl• cornp•ny and hgnc• for i•klni stepst¢r Ihe pieventlon dettrtlorn olfroud and other Irregylarfts. Th¢ repott and theflnartelal st8tEments have beeThprepared In accordaneewlth the Speclal provlslons ol part 15 of the C¢mp•nies Art 2006 relWln8 tts small tntlties Provlsl¢nolih¢CharhlesArfSlh•t drfermlthetheft4rm 4nd cor+tnt oltheCharityAnr+ual Report 5taternent ol Ilecommended PrartlcapplKabtOcha1ltIes prepartrq thelr accounts In aordance¥th the Flnantlal RenIn8 Stsndard 102 aFpMcabte In the UK and Rewblk of Ireland. The dlrertors ha taken advaniai• of 5•Ctlon 477121 of the Companfjes Aci whkh exmpts thè ctsmp4ny froffl th• requirement 10 have the accounts audhed.The chartty Is rewiredto ho an tndependert mInatIOn in Accordafice wlth tht chatIeS A¢t 2011. Apwov4d by the Mana8emenl Commlltqe 2 CktoE¢r 2025 and on ks behalf br. Isol*nl ICh•lrl
Islington Boat aub Independent Examlnerfs Rewt For the F ertd¢d 31 March 2025 I report tothe¢harIt5 trustee5on MYM1Th•t1On of the accounisof the IsThngton 8t Club lcomwry no: 1743087 and hartty no.. 2876801 ftr the year ended 31 March 2025 as set oth on poBe$ 6 to J6. R•sponslNlltb•snd bstsol r•pty the charit5 trustees land •bo tts dlrertorsforthe pU¥se5 ol(ompany lawl you are re5pon51bleforthe preparatlon of th••cttunts In xcoNlirKe wh th¢ reqtslrements the Comnbe5 Act 2c)61'the 2006 Actrl. Ha¥in&satlsfied mysem that the a£countsof ihecompèny are not required to be oudited under P•rt 16olthe 2006 Act Jnd ere eliilble ILK independent examinion. I report in respect of my exJmlTr•llDn olyour thaflV¥ 4ccountS as carried out under sÉ¢tKn 145 of lh• th4rities Art 20111.the 2011 ACVI. In carry1 Out my wmlThaiknn I have lollowed Ihe Dtr8Ctlons Nen by th¢ Charlty ComrnissKJn utsjer section 14951 Ibl of the 2011 N£t. Independent statemert I ve completed rny examlrotkjn. I conllrm th•1 rKt mmets haveeome to my attenthon In conneciion wlth the examlnatlon 8lvln8 me cau5eto bdfjeve= ccountinRrfjcordswere not keptln re5pertoftht Comp•Dy •s requlred tyseaksn 386olthe 2CQ6 Aclor the8ccounts do not accord wtth thostfecord5.-tV th• xcownts 410 not ¢ompty wilh the•¢¢ountin¢ reguirementsof5ertion 3% ofthe W ALt other thaft anv r•qvlroment th•1 the accoun¢¥81 •'tn •fid I4 whkh b r#X a mattw conslder•d as pgrtof 4n Indep¢Adent e¥•mlntn- or th¢ •¢¢ounts hav¢ not been prep•red In KcordarKe ¥th the methods ond prlnclp1•5 of the St•t•rD•nt pf Recommlndod Pr•rtice lor 9ccountiaTrd r•pOrrI by crleS appIIEableto ch•rltles pr•p•rtn8thilr•c¢oynts In i¢¢o¢dan¢e wlth the Fin•n¢l•l fleportln8 St•nd•rd applkable In the UK and Republic of Irend IFRS 1021. I MeoncerTr5 ond have corne acrojs noother matt•r5 kn¢onn•rtbn w4th th• •Mrnln4tlM to whlth •ttsntbft shouldbÈ drawn In th15 r•port sn ord•rto tN•bl• • prop•r und•rst•ndir4 of th ¥ceounts to b• rt•Eh•d. Nkol• And•non ?• IklLthr XQ5 189 B•ldwlns ne Croxl¢y Green ftlckman5WOrth H*rtFordshlre WD3 3LL
r4 15 4 r¥ m r¢
lis Il I
bllngton 8oatCh N•)t•s ts th• arygunts Forlhewrwmkd 31 M•r¢h 2025 A¢(•unllny pdi(i•s The flnanclai Sternnts havelvn prep¥ed kn aTr¢ehthe StaternentOfReCrffiThrl Pwt¢ce.. ACCntin8 ChafliS preparlf•thdi xcounts In ax(darKe ReMwesiaThlard applt¥blt inthe UKan(t Irelènd IFRS102leffertK iJaThry 20191SORP HIS 1011 Fknan(iaIRÈkY5tarR1•r a¥ble1Th the UKand IrelaTrdand sets ?nd fiJbibiie5aie Initialty reco8Thtsed akhIsr<(lOrtll0htw¥1bwthl otherwtseAated re¥l atcouhtln8Oy rtte. fficant rèI5ted bEbyAf The(har¥(St11LrteSè publkbehefrtehtstyasdehw byFRS Xli The Manaiemerntcornrnltteelx CryTtnufwiotyer5ee thebJlhJupof tt a% nrnl xti¥lty. fontxwin8 tht reopenin8 in summer 2023. We are nowatle lo offer afuNran8e ofwater ba5e¢ aCte%. WeareaLso •tt0 0fterpal use oflhecfvjb's relurt45hed prernlses th15 COr reVerntreaffl. To8eth0rlh our aty10cCEinuel0 Jt¥rKt luTrin8fiom a ranpolsr¥Jrc•s, Ih15onabkn the MafiaMen1 Commitiee ta ¢on$4der rh•t theCf¥t•tthe dale of Is The Man•8emwrt Cornmlrt••do toAsbJetthat there are rry soue$01 estin¥tton lep0rnd? thathwe4 s(• Of¢aw materla1&trn4nttot •rfft ¥nfAJnts olassots and IIabllth)SV4Tthln ih• rwrtlng prknd. RestNtedFunds Theserewesent mcoffler•c•l4¥dwr¢ i•stIklTh>W¢. dpwvmWtythidonry. hlth•fe n•rroWwtTrthè cbartrfs 8ener31 objects UTrrnstrlciedFun¢5 Those represent Income whkhcan be usedlortheienwJloWetts01 ihE crIte compJnYa$determlned bvthE ExutiVE Ctrfnrnlttee. Unresirkredfund55et•5idtfor¥clficm05es bylhtm•nayffntc<Thmitth••r•shwn w detedlumd In¢orne Is renied0nC••£hWty haseAtKkmwrttoth•kKom. pl4thatthe ItlI be receb4Ed and the •Trwunt recetratrjeian be wswed rel4t4y. Incorne from 8ownmeTht anoothef drants ¢$ recty8nisedwhen the thliity eThtrfemenltOt lunds. aoy perforrnaThlle tondthnsattich•dtotho y•nts ha¥1n mor, Ilk Vfthtrdethat Incomè%[@CQd1rwjthÈamjfit c•n be me¥ured •KIIs not delerred. LK7bTlitiesare reco8n15edas50f•na5therelsa or(stAtoNcornmttr¥thefrrtyIthatE4wndjtwe, k15 Probabfvt vttlwt WIH be reQred the omwntofthoWryatTh b• M•w rellaèty. lexpendknjre b accOted10r rffjthe•c(nl5tsas1S. NMeXpe0se4{th¥ sUPPIrtc05ts•YMlnC¢o#$are alWted orapportluned lothEaFat4Ee4Den&tswe he+
blinyton BOat(b Notesto th¢ accounts (Cont1ed) For the year ended 31 Marth 2025 ExpeTrdrturethiti%Lrth8ttrthuiabtetodeli¥woftlrJwritwactr¥ibw£( ri5iryfik>ts15a1tetothe atdwtyto Kh it ieiJtès. Sw)port cottscompnsecosts Iwreoln 5orwtOfthOl(lTr IncludEd in 5UPPOrtc0arÈ¢O$ts incurtal in the 1cverNncedthethaFitywch we ptimath as51•[ed thecLWtitutiL¥l and stltut0ryfeotstÈnts. S¢Jppon C05tsarq alloEatgd tOihtties basedon an mIle01 Staff spÉffl on •ach acU%lty th•flnanclal yaar. Irrecoveiable VAT isdÈed¥knSithe¥4xndknr•4dlWforthrtwTrs It?m5 uf EgU1pentOyt[£5ooIfe(dpit•sed a•dTAbJe¢ ai hirtwlccost. Devecia0Tr K5thirydwli•ssEts¥e brought L•asofftold bu1% EwjprnI L(rted Investrn•nts •reifowm blffMfft¢knI¢l¢s1l11Ie IrAtIned1t1h•trtr1Kt11utIn suts•tyen meisurtdat thdrl•lr¥almaith l¥1• 51td•ti 1d-ffl1rketlll
151ington Boat (b Not•s to th••ccounts (¢ontlnu•d) For iheyear ended 31 M¥¢h 2025 Totsl 2025 83,016 10,832 Port ofLernkn 4Jth 15elden Art8C Jk Pèkhey 3,11)J 1.8fyJ The Compary EBM CharfbL Tnjst Grwgo F•inTru# 10,0 Gr4n oljou £1.5 117 Tru John R Pthjffay ththtTnJit VLM FoLNtrYaibn Othor E2,OOOor 15,000 IndYKkn 54.3 3,696 .055 39.264 Tot•1 14A.580 100.172 Ya 2024 IQ25 Sub6¢rfpik)NJ 8rKI Lknrn)omberc<ffjrlx 12,89) 11,f62 5,890 14.480 Z4.553 2fj.6 10 |
151ington 8041 a Notes the Kcounts {c¢)nlIrnd) For the year ènd•d 31 Mar¢h 2025 Totsl 11,434 10,823 6.596 PrDflt on ¥of•qw)w 313 19256 1&812 Curv•ntY••r pporteÉ Tot•1 2025 3.741 ),247 7,341 1814 11,155 Oth•r Iradltyd Xlfivtts 1367 1.367 pv• Totsl Domlknrn & L•Wo Oth•r IrAdty 12.492 4.935 17A7 16.437 6,493 22.930 28,W29 11.831 40.760 uirent Ywr Dbred Support Tot•1 2025 Youlh 75.312 75312 22,435 78.272 78272 176.019 fvlorY••r Support at 2024 Yolth gr<xr* 29,737 29.737 88.789 151,170 151.170
Islington Boat a Notesto the Cnts {¢¢)nObMdl For th•y•ar •nd•d 31 March 2025 ppgrt•nd fjo¥•m•n¢• Sakrkns Premraes 34,138 39.668 23.A30 1B,462 1200 18.462 7&530 4.988 78.272 83360 Ch8ril¥tl¢athl#•• Total 21.119 25,749 19,714 20,4ri Pr•mw8s Of1¢ LylFe¢s Indepen(Iwl Exthn• 19.714 20.477 21119 91.719 Chatitst4• Ncrt• 6 68,789 91.719 121
151ington Boat (b Notesto the •¢¢ounts (f¢)nlrnedl For he year ènded 31 March 2025 Gross salèrS85 Emryo¥ Nl 97.034 1.862 a,541 1.795 Redund 19.252 119.740 11&9J9 ¢)cat&J." bas&1 w bffle spertm ••¢h a• Sup8nd &Mma FuThJs 46.868 17.427 75.312 119.780 11&939 Tha avwagg ofemF4tyrnslhead corjx pByroll thdng th8 year 7J Tho chofty twstoos nat rbyfec•W any Otr5 fromenWyffni Ihe charfiy In thè yoar 1>)24.' nono). Notru8tee IL¥ k¥Ot•SStrtl s•rylc•b Supr to th• ch•dty12024.' Th)n81. No Injslee re1mj1oxpses10ih•Y•Jr (a124.' rKrnI. Trust88s m•JedDn8nSof£nl1{2024.. £40,OCQI to ffte ch8rfty. No b8n8fits acaiJ8d lo tho trust•as In r*01th• thrths. Thw•wtro no othff r¢l•tod Forty trwisrKdcm12024'. rhx•l. N•1 Inc•Ml•¥p•1I[rn1fVrth•# 12,535 13,WO 1.2 1,CQO 131Page
bllngtDn Boal (h Nolesto the ac¢•unts1¢ontlnued) For th•rended 31 Mah 2025 12. a chatity. Bo8t CILJ Is exemptfrcffl tsx on Ixome aTrJ gn5n9 wthin gedon 505of T¥x•8 P4 1988ors256 ofthe TaxatigTroflJawile 1992t) hwtwltt¥tI9r?aFl k) rts fknpves. Now ¢h8ryes hariSen n Ihe ¢h•ity. T•n9lble FId Atr 1 Awl X124 Addfthxs Dkx•a 422.928 258,$37 681A65 2,852 1.1ZJI 11.1231 Ji M•rth 2025 4a92• 260266 613,1M 1 1 2024 E1mlnaithJ dhF< Ch•rgetrfY 22B,733 11,1231 12.535 851.661 11.1231 12A35 31 Mirrh 2025 240,145 663.073 N•t Book V•lu• 31 Mh 1024 29,804 , 31 M•r¢h 2025 21121 24121 2fy25 V• 22.758 21,104 .7se 21,164 Ve81¢n 8t 1 &24 21,164 31,192 11 IP9)1 1.OV2 21,164 (LyG.Tr iny• v8411) at 31 March 20 21758 markètva* Olye8rwO Coslof hokYw5 22,758 15.lOJI 17.758 21,164 Is.Lwi 16.164 141
151ington Boat aub Note5to the a¢¢ounts {¢ontiNd) For th• year ènded 31 March 2025 2024 Ya Totsl 1641 8.132 3.107 Othofcrwjitorn 8fid 8¢JxoIB Loan rep8yknwknkn 12 7.97B 129 192 23247 19.064 15& Cr•dlf•ts: l• •ft•r)M y 025 Tthl 84lsnc0411 Apr425 23,322 132341 ?08• 14.9451 15.14J AJ at 31 Marth 2025 1501 (5.1921 15.1281 14959 Rry8y8t4•aflw 12 rTrJn bVrvcurnJd r•poyaLl•o¥Yr6yJBTrfrom 17FthW?1.l ith oonfryurryyrwtholhday. Inr•st olLx•d ot 2.5% w. At 1A.24 Rewwr Al Jl.32S R•rtrfct•d F¥Jnth 11248 1c18 {ICOA631 114801 14,639 11)V16 14619 fur#J# L>s4MredFts7ds Equipffthi Fur 112.S3¥ 20.121 17,758 J7,879 18,161 (12,&lSJ 4.448 GerternlFw 84 122 4170 ZJ,915 329 IW711J 11,794 Totsl 71.575 744JY 151
1511Thgton Boat a Not•5 to th• a¢counts {¢onthiued) Foi the year ended 31 March 2025 Resow£¢s fj•lrts & At1A2J At 31.324 Ilies 48.117 11C4XS 10.117 I1,194) 112.0(k)I 114094) IS.Cfj91 11.248 76392 110691 11246 Eou1pmt Fwxts {13.KQl 29.f 16.164 16581 4.411 rrf#1Oesn8ELffjs 55,357 (la8) Gwr•lFin {77.WJ 7UI 37M 14$46 1.8J6) Y•tsl fvr 113. (191.930) 71.$75 17. Trsefvndsrtwesent mohsrecel¥dforspeulkwrposesihat•re Tharrowwlhanttr¢ dwlt4bl W•¢ts. QllnieTrthre 6¢h•T8•d •plnrtth• r•lthfntlund. Re$trkt1¢trftdS•T•III Wdforl¥tyrn4thl¥e5 1& Puvposty otD•slwwI £4Pm•t Funds TferSr madElOtheegulwwttluThl fvomtesyttedand4enwal IVJ$equlvJleni lothecost olFixed Assttsxtyirtd. O•wÈdiiknofthese4s5ets Istharoed apln51tht lund. Tr4nsfws art mlt IrX)tP hjnd When reprneDU 4sstt5arè 5Lqd. Th151srryuired 2C and represetsth¢•mouniby whkh R15 1 LIAbllltyol M•n The liabiityofmtmbwsis knited by Irbthe e¥tsitoftheOublqwOuTh up drin8thperiOO0f mberShiP orln IhEtdloYe4r. eath memberwould b¢ reqLediottrté anam1 Trtst•xedlrf£lQ. Thfrtotsl Dumbersof euarantees at31 Marth 1025werÈ 7512024: 751- InKcI>th¥Keth 5¥bseciion 3?14lof IheLrKalGorernMertd 1989.al yarrts hwe beenfuHVU1sed In accordaru wrththwms uTthrWhkhthryrP NwTh1rfVJnted btthwxnthdon rr•YnuE Items kn rh• cwr5e ofthe (ritabmpanv,5 4CItwM. 161