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2022-03-31-accounts

Westminster Boating Base

Annual Report and Financial Statements

31 March 2022

Charity Registration Number 299412 (England and Wales)

Contents

Reports
Reference and administrative information 1
Trustees
report		 2
Independent examiner
report		 16
Financial statements
Consolidated statement of financial
activities 18
Balance sheets 19
Principal accounting policies 20
Notes to the consolidated financial
statements 24

Westminster Boating Base

Reference and administrative information

Trustees Dr Nigel Berman Dr Gabriella Bathgate Mr Jonathan Drake-Wilkes Mr Christopher Sloan Mr Toby Watkin Company Secretary and Director Mr Rodney Craig Registered address Westminster Boating Base Dinorvic Wharf 136 Grosvenor Road London SW1V 3JY Charity registration number 299412 Bankers CAF Bank Ltd Kings Hill West Malling MW19 4TA Independent Examiner Edward Finch Buzzacott LLP 130 Wood Street London EC2V 6DL

Westminster Boating Base 1

Year to 31 March 2022

Trustees

The Trustees present their report together with the financial statements of Westminster Boating Base for the year ended 31 March 2022.

The financial statements have been prepared in accordance with the accounting policies set out on pages 20 to 22 of the attached financial statements and comply with the deed, applicable laws and 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).

REFERENCE AND ADMINISTRATIVE DETAILS

Reference and administrative details are shown in the schedule of members of the board and professional advisers on page 1 of the financial statements.

Inspiring Young People To Challenge Themselves

Summary of Deliverables

Total Youth Tuition Hours: 5,325

Total Visits (Youth): 1,307 Total Adult Hours: 8,039 Total Visits (Adult): 1,420

Total National Watersports Accreditations

RYA PB2 certs awarded: 277

RYA sailing certs awarded: (Nos of youth/adult) 13 / 22

BC kayaking certs awarded: (Nos of youth/adult) 0 / 0

Westminster Boating Base (WBB)

It is fitting that this report starts by recording the death of Mark Bachelor in 2021; Mark was Trustee, and a former Trust Chairman, who for many years and devoted a very significant amount of time and energy to the WBB and its people. He will be greatly missed.

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Trustees

STRUCTURE, GOVERNANCE AND MANAGEMENT

What We Do

The WBB is constituted under a deed of trust, as ratified in the Declaration of Trust dated 9 May 1988.

The Trustees confirm that they have complied with their duty as stipulated in the Charities Act 2011, having due regard to public benefit guidance published by the Charity Commission.

The Westminster Boating Base was established in June 1975 as a charitable trust providing a wide range of water sports for young people on the central London River Thames.

The primary objective of the Trust remains unchanged and is stated in the Trust Deed as:

"To help educate young people through their leisure time activities, so to develop their physical, mental and spiritual capacities that they may grow to full maturity as individuals and members of society and that their conditions of life may be improved".

On a daily basis, throughout the year, this object is pursued via the teaching of water sports to young people between the ages of 10 and 23, providing regular access to sailing, kayaking, canoeing and powerboating, and onshore learning and development activities.

We charge a nominal cost of £15 for membership, but this is waived for young people from disadvantaged backgrounds. This approach is only possible because of the income we generate from other sources including the letting of our attractive riverside venue for varied events.

Whilst adult activities are not our primary focus, they are a vital part of our operations both as a valuable source of funds and also as a rich source of volunteers who provide their muchneeded skills to support the charity.

The Trustees have overall responsibility and accountability for the development of the charity. The day to day management of the charity and its subsidiary is delegated to the Director, who reports on a regular basis to the Chair of the Trustees, as well as attending and reporting at their formal bi-monthly management board meetings. It is normally the policy of the Trustees to elect new Trustees from the Management Board, and occasionally a new Trustee may be appointed externally. The Management Board serves in an advisory capacity only to the Trustees, and has no executive powers or responsibilities.

It should be noted that Mark Batchelor, a barrister, devoted a great deal of his personal time and energies to supporting the WBB over many decades, and his passing was a very saddening occasion in what was a difficult year for everyone.

Covid-19

This report covers the period following the national lockdown periods but including up to the cessation of furlough payments in October 2021. A number of Covid protocols were of necessity maintained during this period. Nonetheless, the impact of the pandemic on the near total loss of events income. However, this started to make a slow but steady recovery during the FY 2021-22.

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Year to 31 March 2022

Trustees

OBJECTIVES AND ACTIVITIES

Who Benefits

We are part of a living community and whilst our services are for young people, we take a holistic approach to supporting young people in the context of their wider lives, their families and general wellbeing. We also support older people for inter-generational and volunteering activities. Our aim is to bring this living community together for the benefit of young people, who undoubtedly benefit from the skills, experiences and in-kind support of older volunteers.

WBB operates throughout the year for young people who can gain membership as individuals or as part of a school, youth or community group. Individual membership is particularly beneficial to young people in our community.

Many of the school groups that previously attended on a regular basis pre-pandemic have still not returned, due to significant cuts in school budgets for non-school based activities. And although every effort has been made to attract youth groups, there was little response from capacity which makes outreach activities extremely difficult to maintain. Nonetheless we work in partnership with other community-based charities such as the Pimlico Foundation to target hard to reach groups and those most in need. However, we have no restrictions; our doors are open to anyone, regardless of where they come from in London. As such, water sports and other events we offer are open to children, families, young people and adults from our local community and beyond.

The benefits to our young people go beyond acquiring water sports skills. All our water sports and onshore learning programmes integrate soft skills activities that offer young people the chance to work together, developing their social skills as they undertake the many and varied challenges they encounter on the river Thames under our supervision.

These activities improve communication, resilience and leadership skills and help young people to understand themselves, their peers and their wider environment.

Young people also have the opportunity to compete in local and national competitions in a wide range of disciplines including: kayak slalom, kayak freestyle and sailing. For example, the London Youth Games, events hosted by other clubs and national slalom division events.

Who We Are

The staff consists of the Director, the water sports Chief Instructor and the Senior Sailing & Powerboating Instructor (one less than pre-pandemic). We also engage a team of approximately 15 sessional coaches and 30 volunteers; kayaking instruction is now undertaken by appropriately qualified sessional instructors. All of our instructors are highly experienced and qualified water sports coaches, holding relevant qualifications from the Royal Yachting Association (RYA) and British Canoeing (BC), national and international governing bodies.

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Trustees

OBJECTIVES AND ACTIVITIES (continued)

Our Resources

We have a fleet of sailing dinghies, powered safety boats, training RIBs and a wide range of kayaks and canoes for all levels of training, skills and interest.

During the year we purchased one new 60hp outboard engine for the safety boats, and three junior freestyle kayaks. However, our fleet is ageing and is only kept going by everlengthening maintenance and repair work, some of which is carried out by volunteers with the requisite skills.

How This Is Financed

The charity generates income by:

Staff, Volunteers and Freelance Instructors

Staff

From 1 April 2021 to 31 March 2022 the watersports personnel were Adam White (Chief Instructor) and Pippa Viles (Senior Instructor Sailing & Powerboating). Overall operational responsibility resides with Rod Craig (the Director).

The WBB now has an HR company (Croner) under contract to ensure proper compliance with all aspects of employment.

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Trustees

OBJECTIVES AND ACTIVITIES (continued)

Staff, Volunteers and Freelance Instructors (continued)

Freelance Instructors

Our employees are supplemented by a team of freelance instructors who help us with all aspects of our charitable work. Our freelance instructors bring specialist skills that complement those of our staff team and enable us to deliver a diverse programme of water sports.

Increasing levels of responsibility are given to instructors as their experience and understanding of our organisation, services and the river develops. We are indebted to them for their commitment and enthusiasm in supporting WBB throughout the year whether by helping with water sports sessions or with vital equipment maintenance needed to keep so much equipment in a usable and safe condition.

Volunteers

With a full-time staff of just three, volunteers play a very important role in supporting the organisation. Thankfully, we had another successful year of help from our volunteers with 30 volunteers supporting WBB over the year, with many volunteers offering weekly support.

Our volunteers are dedicated and committed to undertaking a wide range of activities. The many jobs they took on with great enthusiasm included:

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Year to 31 March 2022

Trustees

OBJECTIVES AND ACTIVITIES (continued)

Compliance and Governance

In addition to the compliance obligations we are required to meet by the HMRC, Companies House and the Charity Commission, we also have to meet those of the RYA, BC and Club Mark annually and also that of the Adventure Activities Licensing Authority (every two years). These inspections address every aspect of our operation with great emphasis on safeguarding, health and safety, maintenance, the content and quality of our teaching and overall training, and safeguarding.

IT

A complete new IT suite was installed at the end of July under a contract that had been agreed supported by the OS software updates.

Website

The website was launched in its current form in 2014 and has improved in many the ways, not just our customer and user experience, but also for our small team at WBB. It is important to remember we only have three full-time employees and now the majority of enquiries and all bookings and payments are managed through our website.

Watersports

The reinstatement of watersports activities was hampered by a number of considerations. The government still had restrictions on numbers, staff and volunteers were only to be used for running courses. Watersports therefore resumed with RYA Powerboat Level 2 courses, limited six people (2 boats) per course; we ran 2 courses per week, re-inducting all the volunteers and freelancers as we went along. The PB2 courses generate significant income and are the financial mainstay of income generated by watersports. As restrictions were gradually lifted youth evening and Sunday sessions were introduced. UpperDeckers (over 60s) group also returned in late July. The school summer holiday programme consisted of a four day a week programme of intermediate sailors and kayakers, interspersed with taster sessions on Sundays.

One of the effects of lockdown was that many of the usual freelance sailing and kayaking instructors left London and has now created the ongoing problem of finding sufficient instructors, especially at rates the WBB can afford. Given the hours that the watersports programme has to run (which can be determined by a number of factors such as weather and tides), most freelance instructors have no option but to drive to the WBB. However, the introduction of the expanded London ULEZ scheme has made their employment by the WBB unaffordable, which has exacerbated the instructor shortfall issue.

The WBB also had one outside youth group visit during this period, called Step Up 2 Fitness who provide activities to women and especially target the BAME groups. With the RYA Tackling Inequalities funding sourced during the lockdown, it was possible to fund a day of powerboat driving activity for the group.

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Year to 31 March 2022

Trustees

OBJECTIVES AND ACTIVITIES (continued)

(continued)

Watersports (continued)

operating area for courses (Tower Bridge to Putney), lies outside the 3 nautical mile navigable limit imposed by the RYA. Regrettably, the Base has been forced to limit operations for training courses to London Bridge City Pier through to Putney Rail Bridge. A request for an extension has been submitted.

Step Up 2 Fitness returned over the school half-term period for a day of powerboat tuition (funded by RYA Tackling Inequalities fund).

Harris Academy will begin powerboat tuition in November 2022 (funded by Tideway).

The watersports programme had hitherto included a number of off-site watersports events and camps, including kayaking in France, sailing at Brightlingsea and the Solent. However, er) due to being beyond economic repair, these activities have had to be suspended. However, the WBB has successfully started fundraising towards purchasing a near new, ULEZ compliant vehicle.

Engaging our community

We engage young people and adults in our community, who contribute to fundraising activities for events such as our Community Open Days. However, with watersports not restarting until late July 2021 and continuing concerns over Covid-19 transmissibility, there were no open days during this reporting period. (However, two are planned for the remainder of 2022).

Restarting After Lockdown

plumbing leaks that had caused damage to some internal paintwork in the changing rooms. Other essential repairs had to be made to the office lighting and the yard gate. Every powerboat was stacked in the yard and these all had to be cleaned, serviced and launched. It was a considerable task and mechanical items like engines had to have a major service.

Almost every boat has been back in the yard since for a rebuild of one component or another. And every dinghy, stored on the pontoon, was cleaned and rigged, and the pontoon cleaned of green algae.

The fire alarm was also found to be defunct and had to be replaced. After several attempted repairs it was decided that replacement was the way forward. Every fire extinguisher had to be serviced and the emergency lighting checked, lights and batteries replaced. The disabled lift was serviced, then broke and was consequently repaired. Safety certificates for the lift and hoist were renewed. There were many more small repairs too numerous to mention that were completed during the summer months. A new pavilion ceiling lining was also installed to replace the old, stained and deteriorating panels.

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Year to 31 March 2022

Trustees

OBJECTIVES AND ACTIVITIES (continued)

(continued)

Restarting After Lockdown (continued)

During the lockdown period the steelwork at the pontoon end of the brow (bridge) had cracked as the result of stress. The roller brackets were also worn with flat spots, causing dragging and in turn twisting the structure. This damage was largely caused by river traffic which in the absence of any WBB staff may have been exceeding the speed limit. The damage was repaired by DiveCo Marine under a £15k contract. The downstream collar also broke free, but was repaired by a suitably skilled volunteer for the nominal sum of £500.

Awards

There were none of the usual awards competitions or events (e.g. London Youth Games) during this reporting period. However, the Jack Petchey Awards were restarted in September 2021. These are for staff to nominate young members who have done or achieved something above and beyond, and they in turn decide on a new piece of equipment for the WBB, up to the value of £250.

Training

First Aid Training RYA aquatic first aid course: 6 youth, 14 adults.

Step up to Fitness: this organisation promotes healthy eating and exercise); 14 youth and 7 adults; total of 168 hours of powerboating.

Schools

Grey Coats Hospital School: 125 visits, totalling 250 hours of kayaking.

Harris Academy: the WBB ran a series of taster sessions from November to March, funded Academy.

UpperDeckers

787 visits, and 2,361 hours of watersports.

Instructor development

Three young members qualified as Dinghy Instructors (DIs) in October 2021 after training as Assistant Instructors.

was limited to two days a week of youth sailing and kayaking. However, evening sessions ran from July to October.

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Year to 31 March 2022

Trustees

PARTNERSHIPS

Working In Partnership to Channel More Resources to Disadvantaged People

Westminster City Council (WCC)

We continued to work closely with Westminster City Council on a number of programmes focused on supporting the local community and the youth of Westminster:

We are also members of Active Westminster, working with local community members and partner organizations to shape services for young people in Westminster.

UpperDecker Programme

Our UpperDecker programme provides watersports for Westminster residents aged 60 and above. Those aged 50 and above or not resident in Westminster pay a nominal fee of only £5, as funding is not available for this group. The aim of this project is to improve the physical and mental health of older people, provide volunteering opportunities and prevent isolation. The project uses an early intervention approach to support older people to help them retain civic participation and good health in retirement, preventing the onset of age-related health conditions that may limit mobility and engagement.

The project has successfully achieved those aims whilst helping older people to challenge themselves and learn exhilarating water sports skills. The project delivered a varied calendar of activities including weekly keep fit sessions run by SportWorks Ltd; watersports are augmented by a light lunch social group, a coffee afternoon and networking sessions. Some UpperDecker volunteers bring their experience and talents to bear in helping repair and ies. The group are also a key component of the

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Year to 31 March 2022

Trustees

PARTNERSHIPS (continued)

Working In Partnership to Channel More Resources to Disadvantaged People (continued)

Royal Yachting Association Centre Inspection

The annual inspection confirmed that the WBB remains fully compliant in all areas of administration, safeguarding, health and safety, facilities and training.

The British Canoeing Quality Mark and Inspection

The British Canoeing Quality Mark annual inspection confirmed that the WBB remains fully compliant in all areas of administration, safeguarding and Health & Safety procedures, facilities and training.

AALA Adventure Activities Licencing Authority

Licence renewed until February 2022.

Active Westminster Mark. Renewed until November 2022.

Summary

The fact that we passed each of these assessments with no remedial recommendations is to the credit of all of the regular staff, freelance instructors and volunteers who have worked tirelessly throughout the year to maintain our high standards of operations and procedures in a challenging water sports environment.

ACHIEVEMENTS AND PERFORMANCE

Summary

Financial review

Trust Policies

The charity has £613,390 of reserves showing in the statement of financial activities, however, £359,734 of these reserves relate to the Fixed Assets with the balance of £253,656 being Current Assets. The Trustees would like to be in a position to hold 6 months or more of reserves, and previously these funds were transferred to the general fund for premises refurbishment and operational contingency reserves due to operational requirements. However, in March 2017, the Trustees voted to set aside a minimum sum of £2,500 on a monthly basis in order to commence building up the reserves with a target of five years to achieve this goal. This has been achieved as at March 2022. The Trustees will continue to review their position regarding the level of reserves as part of the ongoing business plan.

At December 2022, the Charity had approximately £218,935 across all bank accounts, and when taking into consideration known revenue sources and operational expenses for the forthcoming months, the Trustees are confident of the ability of the charity to meet with its financial obligations in the coming financial year.

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Year to 31 March 2022

Trustees

ACHIEVEMENTS AND PERFORMANCE (continued)

Financial review (continued)

WCC Lease

We continue to liaise with our landlord Westminster City Council to explore how to achieve a longer-term lease, as our current lease expires in 2037. Further discussions were held earlier in the year and we await an outcome.

Pay Policy

The Trust has a policy regarding the annual review of staff remuneration every January during the bi-monthly board meeting, to ensure they are in line with the market rates for the roles. Subject to the financial status of the Trust, increases are awarded with effect from the 1st January each year, as was the case during this financial period.

Funding Compliance Reports

Successful funding brings with it the necessity to produce compliance reports to the funders. All reports required were submitted in full and within the required deadlines.

Risks

As identified by the Trustees, the major risks to which the Trust is exposed are under constant review by The Director and discussed at each and every bi-monthly board meeting, and summarised in the Trust Risk Register; systems and procedures have been established and updated to manage those risks and is constantly under review.

Financial Risks

The Trust introduced improvements to the financial controls across all aspects of the organisation inclusive of its arrangements with WBB Limited in 2019. The engagement of bookkeepers (Clearstone Business Services Ltd) and the change to Xero online cloud-based accounting software package, has improved financial controls, accountability and governance; in addition to rolling twelve month forecasts and the bi-monthly formal board meetings.

The permanent staff of three still maintain the breadth and high standards of water sports training with ample support from freelance instructors. The Trustees, of course, do realise that they must not be complacent in the coming years as the potential cost challenges are expected to increase in areas over which we do not have any control, including:

Inflation;

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Trustees

ACHIEVEMENTS AND PERFORMANCE (continued)

Financial review (continued)

Financial Risks (continued)

come comes from four main sources:

Fundraising

The improvement in recent years in the income from our RYA powerboat courses is now promote and protect this vital revenue stream. Although the building is maintained to the highest standards that resources allow, this requires ever more maintenance and repairs, as it continues to underpin the significant revenue stream from events. We are delighted to report that a significant amount of essential works and upgrades have completed by sessional staff and volunteers.

Operational Risks

Operational risk is mitigated primarily through the rigorous application of the WBB Health and Safety Policy. This takes account of all anticipated risks in the day to day operation of WBB, and is reviewed and updated on a regular basis. This is supplemented by two annual inspections, one from the British Canoeing (BC) and another from the Royal Yachting Association (RYA). A third inspection of WBB is undertaken by the Adventure Activities Licensing Service (AALS). Further inspections are also undertaken, generally once a year, by WCC from a Health & Safety perspective.

Our Operational Manual is the document containing all rules, regulations and guidelines that staff, freelance instructors and volunteers need to know to manage and support our activities and protocols. The document is updated on a regular basis with a new version released formally every March. All staff, instructors and qualified volunteers are required to sign off the Operations Manual before the start of the new summer season each year.

Activities which change the risk profile of WBB, such as away trips for sailing and kayaking, undergo a specific and comprehensive risk assessment for each occasion. Approval is only given when all risks are considered to be manageable or negligible.

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Trustees

ACHIEVEMENTS AND PERFORMANCE (continued)

Financial review (continued)

Incoming Resources

The Director is the primary fundraiser, assisted by a professional fundraiser on an as required basis. We do not received funds formally from central and local governments; however, we continue to receive some support from our local councillors as well as the Sports Development Unit of WCC towards the London Youth Games Youth training, for which we are most grateful.

----- Start of picture text -----
FUNDING SUMMARY Restricted (R) Summary of
Grant Organisation Unrestricted (U) Purpose Amount expenditure
To provide watersports
Westminster and communal facilities
Amalgamated R UpperDeckers £10,000 for O60s group.
For new Youth achievement for
Jack Petchey outboard WBB equipment
Foundation R engine £2,550 purchase
Churchill Gardens
Westminster Youth (Pimlico) watersports
Foundation R watersports £8,000 outreach
WCC U Restart grants £12,905 Core costs
TOTAL: £33,455
----- End of picture text -----

All grants were fully expended. £1,500 in unspent grants was returned to the Jack Petchey Foundation.

Neighbourhood Projects

135 Grosvenor Road: The development of the site next door to WBB has been halted again.

Statement of Financial Activities

The Statement of Financial Activities and the Balance Sheet, appear at pages 18 and 19 of these financial statements.

The total income of the Charity and Subsidiary was £244,670 compared to £379,426 last year.

Total expenditure on charitable activities and raising funds was £318,558 compared to last

198,700.

After taking into account trading costs, the net result was an accounting deficit of resources of £73,888 compared to a surplus of £180,726 in the previous year (taking into account among other things d

At 31 March 2022 the reserves of the charity amounted to £253,656 excluding restricted funds and amounts invested in fixed assets. As part of our on-going business plan, the Trustees committed to setting aside a minimum of £2,500 per month in order to build up the Charities level of six months of reserves amounting to £150,000 within five years. This has been achieved. At December 2022, the Charity had present £218,935 in its bank accounts, and when taking into consideration known revenue sources and operational expenses for the forthcoming months, the Trustees are confident of the ability of the charity to meet with its financial obligations for at least twelve months from the date of approval of this report. The accounts have accordingly been prepared on the going concern basis.

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Year to 31 March 2022

Trustees

FUTURE PLANS

We continue to engage with the community as much as is possible with limited staff resources; however engaging hard to reach young people and the most disadvantaged people, especially those from minority communities, remains a challenge.

Our facilities, including the pontoon, are showing their age and require constant maintenance which is expensive and time consuming especially for a very small team. Although it is still functional and safe, the pontoon does not have unlimited life left. Having determined that repairs would be expensive and unlikely to significantly prolong its operational life, the project was shelved. Fundraising for a new pontoon has started again in 2021. But the increased commercial traffic on the river due to major projects such as the new super sewer continues to exact wear and tear on the pontoon, the moorings and our boats.

This report was approved by the Trustees, on and signed on their behalf by:26th January 2023

Dr Nigel Berman

Trustee and Chair of Trustees

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31 March 2022

Independent Examin

Trustees of Westminster Boating Base

I report to the charity Trustees on my examination of the consolidated accounts of the Group the year ended 31 March 2022.

T Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so Trustees those matters I am required to state them in an law, I do not accept or assume responsibility to anyone other than the parent charity and the Trustees as a body, for my work or for this report.

Responsibilities and Basis of Report

As the Trustees of the charity you are responsible for the preparation of the consolidated satisfied that the accounts of both the parent charity and the Group are not required by charity law to be audited and have chosen instead to have an independent examination.

I report in respect of my examination of the consolidated accounts carried out under section the Directions given by the Charity Commission under section 152(5)(b) of the 2011 Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion report is limited to those specific matters

Since the Trustees have opted to prepare consolidated accounts for the Group 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 member of The Institute of Chartered Accountants in England & Wales, which is one of the listed bodies.

I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records with respect to the charity were not kept as required by section 130 of the 2011 Act and with respect to its subsidiary as required by section 386 of the Companies Act 2006; or

  2. the accounts do not accord with those records; or

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Independent Examin

31 March 2022

(continued)

  1. 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 considered as part of an independent examination; or

  2. the accounts have not been prepared in accordance with the methods and principles of 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 (FRS102).

I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.

Edward Finch BA, ACA Buzzacott LLP 130 Wood Street London EC2V 6DL Date:[30 January 2023]

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Consolidated statement of financial activities Year to 31 March 2022

Notes Unrestricted
funds
2022
£		 Restricted
funds
2022
£		 Total
funds
2022
£		 Unrestricted
funds
2021
£		 Restricted
funds
2021
£		 Total
funds
2021
£
Income from:
Donations and legacies
1
Charitable activities
2
Trading activities
3
Other income
Total income
Expenditure on:
Raising funds
4
Charitable activities
5
Total expenditure
Net (expenditure) income
for the year
Transfer between funds
15
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried
forward
14		 28,645
15,303
168,290
1,215		 23,217
8,000		 51,862
23,303
168,290
1,215		 211,402
63,365
28,026
34		 76,599 288,001
63,365
28,026
34
213,453 31,217 244,670 302,827 76,599 379,426
35,094
183,067		 100,397 35,094
283,464		 8,789
189,911		 8,789
189,911
218,161 100,397 318,558 198,700 198,700
(4,708) (69,180) (73,888) 104,127
7,419		 76,599
(7,419)		 180,726
(4,708)
618,098		 (69,180)
69,180		 (73,888)
687,278		 111,546
506,552		 69,180 180,726
506,552
613,390 613,390 618,098 69,180 687,278

The notes on pages 24 to 30 form part of these financial statements.

continuing operations during the above two financial periods.

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Balance sheets 31 March 2022

Notes Group Group Charity Charity
2022
£		 2021
£		 2022
£		 2021
£
Fixed assets
Tangible fixed assets
10
Investments
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due
within one year
13
Net current assets
Net assets
The funds of the charity:
Restricted funds
14
Unrestricted funds
14
Total funds		 359,734
3		 407,248 359,734
3		 407,248
3
359,737 407,248 359,737 407,251
3,072
302,388
305,460
(51,807)
253,653
613,390		 1,890
311,176
313,066
(33,036)
280,030
687,278		 131,933
142,975
274,908
(35,746)
239,162
598,899		 298,607
298,607
(32,580)
266,027
673,278
613,390 69,180
618,098		 598,899 60,228
613,050
613,390 687,278 598,899 673,278

The financial statements on page 24 to 30 were approved by the Trustees, and authorised for issue and are signed on their behalf by:

Chair of Trustees

Westminster Boating Base Registration Number: 02235218 (England and Wales)

Date: 26th January 2023

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Principal accounting policies Year to 31 March 2022

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below.

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.

The financial statements have been prepared in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice for charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Westminster Boating Base constitutes a public benefit entity as defined by FRS 102.

The accounts are presented in sterling and are rounded to the nearest pound. The statement of financial activities (SOFA) and balance sheet consolidate the financial statements of the charity and it subsidiary undertaking, Westminster Boating Base Limited. The results of the subsidiary are consolidated on a line by line basis.

No separate statement of financial activities has been presented for the charity alone as permitted by Section 24 of the Charities SORP (FRS 102).

The net expenditure for the year dealt with in the accounts of the charity was £78,706 (2021: net income of £186,259).

Critical accounting estimates and areas of judgment

The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Fixed assets are written off over their estimated useful lives as set out above. If actual useful lives differ from those expected this may have a material effect on the financial statements.

In the opinion of the Trustees there no other estimates or judgements that have a material impact on the financial statements.

Assessment of going concern

The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The Trustees have made this assessment having taken account of the prospective consequences of the coronavirus pandemic, and in respect of a period of at least one year from the date of approval of these financial statements.

Westminster Boating Base 20

Principal accounting policies Year to 31 March 2022

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.

Income comprises donations, income from charitable activities, income from other trading activities, investment income and other income.

Donations are recognised when the charity has confirmation of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Income from charitable and trading activities is recognised when the charity has entitlement to the income.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Other income is recognised in the period in which is it receivable and to the extent the goods have been provided or on completion of the service.

Expenditure

Expenditure is recognised as soon as there is a legal or constructive obligation committing the charity to make a payment 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.

All expenditure is accounted for on an accruals basis. Expenditure comprises direct costs and support costs. All expenses, including support costs, are allocated or apportioned to the applicable expenditure headings. The classification between activities is as follows:

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the charity.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Westminster Boating Base 21

Principal accounting policies Year to 31 March 2022

Expenditure (continued)

operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities. All expenditure is inclusive of irrecoverable VAT.

Tangible fixed assets and depreciation

All assets costing more than £500 are capitalised.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the statement of financial activities.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost fixed assets, lee their estimated residual value, over their expected useful lives on the following bases:

Leasehold Buildings & Piers Over the term of the lease Leasehold Improvements 10% Straight line Boats & Equipment 10% Straight Line Minibus 25% Reducing Balance Office equipment 10% Straight Line

Investments

Investments in subsidiaries are valued at cost less provision for impairment.

Creditors 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 n 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.

Financial instruments

The charity only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the charity and their measurement basis are as follows:

Financial assets trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank and short term deposits classified as a basic financial instrument and is measured at face value.

Westminster Boating Base 22

Principal accounting policies Year to 31 March 2022

Financial instruments (continued)

Financial liabilities trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.

Pensions

The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the scheme in respect of the year.

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.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Westminster Boating Base 23

Notes to the financial statements Year to 31 March 2022

1 Income from donations

Unrestricted
funds		 Restricted
funds
12,550
10,667
23,217		 2022
Total
funds
28,360
12,835
10,667
51,862		 Unrestricted
funds		 Restricted
funds		 2021
Total
funds
Donations
Legacies
Grants
Total donations		 15,810
12,835
28,645		 199,902
11,500
211,402		 27,871
48,728
76,599		 227,773
60,228
288,001

2 Income from charitable activities

Youth Boating Activities
Coronavirus Job
Retention Scheme
Grant		 Unrestricted
funds
£		 Restricted
funds
£		 2022
Total
funds
£		 Unrestricted
funds
£		 Restricted
funds
£		 2021
Total
funds
£
240
63,125
63,365
5,932
9,371
15,303		 8,000
8,000		 13,932
9,371
23,303		 240
63,125
63,365

3 Income from trading activities

Unrestricted
funds
£		 Restricted
funds
£		 Restricted
funds
£		 2022
Total
funds
£		 Unrestricted
funds
£		 Restricted
funds
£		 2021
Total
funds
£
(2,250)
30,000
276
28,026
Charity trading income
Adult courses
Rental income
Other trading income		 133,397
23,256
11,637
168,290		 133,397
23,256
11,637
168,290		 (2,250)
30,000
276
28,026

Courses were suspended due to the coronavirus pandemic, and as such refunds for adult courses paid for in the previous year have been recognised in the year ended 31 March 2021.

4 Expenditure on raising funds

Fundraising expenses
Trading costs		 Unrestricted
funds
£		 Unrestricted
funds
£		 Restricted
funds
£		 Restricted
funds
£		 2022
Total
funds
£		 Unrestricted
funds
£
342
8,447
8,789		 Restricted
funds
£		 2021
Total
funds
£
35,094
35,094		 35,094
35,094		 342
8,447
8,789

Westminster Boating Base 24

Notes to the financial statements Year to 31 March 2022

5 Expenditure on charitable activities

Unrestricted
funds
£		 Restricted
funds
£		 Restricted
funds
£		 2022
Total
funds
£		 Unrestricted
funds
£		 Restricted
funds
£		 2021
Total
funds
£
Freelance instructors
Boat repairs and maintenance
Training costs
External watersports activities
Staff costs (note 9)
Depreciation
Support costs (note 6)		 11,012
12,790
3,684
373
23,668
64,587
66,953
183,067		 2,550
97,766
81
100,397		 11,012
15,340
3,684
373
121,434
64,587
67,034
283,464		 728
1,046
411
94,906
65,682
27,138
189,911		 728
1,046
411
94,906
65,682
27,138
189,911

6 Support costs

----- Start of picture text -----
2022 2021
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds funds funds
£ £ £ £ £ £
Office 7,712 7,712 1,754 1,754
Rent (609) (609) (13,370) (13,370)
Light and heat 5,124 5,124 3,139 3,139
Insurance 9,040 9,040 6,976 6,976
Telephone and IT 3,268 81 3,349 1,423 1,423
Property repairs and
maintenance 25,900 25,900 8,288 8,288
Accountancy 2,562 2,562 14,163 14,163
Miscellaneous 5,610 5,610 671 671
Independent examination and
accounts preparation fees 8,154 8,154 3,947 3,947
Bank charges 192 192 147 147
66,953 81 67,034 27,138 27,138
----- End of picture text -----

7 Net expenditure

This is stated after charging:

2022
£		 2021
£
Depreciation of tangible fixed assets:
Owned by the charitable group
Lease payments recognised as an expense		 64,587
9,176		 60,508
9,176
5,200 1,760

8 The 1,900 (2021 £1,760), and accountancy fees of £3,300 (2021 £2,187).

Westminster Boating Base 25

Notes to the financial statements Year to 31 March 2022

9 Staff costs

Staff costs were as follows:

2022
£		 2021
£
Wages and salaries
Social security costs
Other pension costs		 109,420
7,439
4,575		 88,449
4,569
1,888
121,434 94,906

The charity employed three members of staff during the year (2021 three).

No employee earned more than £60,000 per annum in either 2022 or 2021.

The key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis comprise the Trustees and the Director of the charity.

None of the Trustees received any remuneration in respect of their services during the year nor any reimbursement of expenses from the charity (2021 - none).

Remuneration of the key management personnel and pension contributions amounted to £40,612 (2021 £35,965).

10 Tangible fixed assets

----- Start of picture text -----
Leasehold
Buildings and Boats and Office
Piers Equipment Minibus equipment Total
Group and Charity £ £ £ £ £
Cost
At 1 April 2021 908,053 167,012 27,963 12,546 1,115,574
Additions 5,948 7,995 3,130 17,073
Disposals (27,963) (27,963)
At 31 March 2022 914,001 175,007 15,676 1,104,684
Depreciation
At 1 April 2021 549,875 125,649 27,963 4,839 708,326
Charge for the year 45,703 17,501 1,383 64,587
Disposals (27,963) (27,963)
At 31 March 2022 595,578 143,150 6,222 744,950
Net book value
At 31 March 2022 318,423 31,857 9,454 359,734
At 31 March 2021 358,178 41,363 7,707 407,248
----- End of picture text -----

Westminster Boating Base 26

Notes to the financial statements Year to 31 March 2022

11 Fixed asset investments

Fixed asset investments
Charity Shares in
group
undertakings
£
At 1 April 2021 and 31 March 2022 3

12 Debtors

----- Start of picture text -----
Group Charity
2022 2021 2022 2021
£ £ £ £
Trade debtors 3,072 3,072
Accrued income and prepayments 1,890
Amounts owed to group undertakings 128,861
3,072 1,890 131,933
----- End of picture text -----

13 Creditors: amounts falling due within one year

----- Start of picture text -----
Group Charity
2022 2021 2022 2021
£ £ £ £
Trade creditors 10,650 9,251 10,650 9,251
Amounts owed to group undertakings 14,656
Other taxation and social security 8,755 3,565 3,536 3,565
Other creditors 6,588 351 6,585 27
Accruals and deferred income 25,814 19,869 14,975 5,081
51,807 33,036 35,746 32,580
----- End of picture text -----

Westminster Boating Base 27

Notes to the financial statements Year to 31 March 2022

14 Statement of funds

Statement of funds
Balance at 1
April 2021
£		 Income
£		 Expenditure
£		 Transfers
in/out
£		 Balance at
31 March
2022
£
Designated funds
Fixed asset fund
General funds
General Funds
Total Unrestricted funds
Restricted funds
Miscellaneous Youth Boating
IT Suite
Total funds		 407,248 (64,587) 17,073 359,734
210,850 213,453 (153,574) (17,073) 253,656
618,098 213,453 (218,161) 613,390
69,099
81		 31,217 (100,316)
(81)
69,180 31,217 (100,397)
687,278 244,670 (318,558) 613,390

Statement of funds prior year

Balance at 1
April 2020
£		 Income
£		 Expenditure
£		 Transfers
in/out
£		 Balance at
31 March
2021
£
Designated funds
Fixed asset fund
General funds
General Funds
Total Unrestricted funds
Restricted funds
Miscellaneous Youth Boating
IT Suite
Total funds		 464,474 (65,681) 8,455 407,248
42,078 302,827 (133,019) (1,036) 210,850
506,552 302,827 (198,700) 7,419 618,098
69,099
7,500		 (7,419) 69,099
81
76,599 (7,419) 69,180
506,552 379,426 (198,700) 687,278

15 Fund Transfers

A transfer of £17,073 (2021: £7,419) has been made from restricted to unrestricted funds in respect of donations for new equipment purchased from restricted income.

Westminster Boating Base 28

Notes to the financial statements Year to 31 March 2022

16 Analysis of net assets between funds

Unrestricted
funds
2022
£
Restricted
funds
2022
£		 Total
funds
2022
£
359,734
305,463
(51,807)
613,390
Tangible fixed assets
Current assets
Creditors due within one year		 359,734
305,463
(51,807)
613,390

Analysis of net assets between funds prior year

Unrestricted
funds
2021
£
407,248
243,886
(33,036)
618,098		 Restricted
funds
2021
£
69,180
69,180		 Total
funds
2021
£
Tangible fixed assets
Current assets
Creditors due within one year		 407,248
313,066
(33,036)
687,278

17 Operating lease commitments

At 31 March 2022 -cancellable operating leases was:

Group and charity 2022
£		 2021
£
Amounts payable
Within 1 year
Between 1 and 5 years
After more than 5 years
Total		 9,176
36,704
110,112
155,992		 9,176
36,704
100,936
146,816

18 Related party transactions

During the year the charity received donations of £14,000 (2021: £19,532) from its subsidiary company, Westminster Boating Base Limited and made management charges of £118,687 (2021: £nil) to this company. At the year end, Westminster Boating Base owed £122,513 to the charity (2021: £14,656 owed by the charity to Westminster Boating Base).

Westminster Boating Base 29

Notes to the financial statements Year to 31 March 2022

19 Principal subsidiaries

Westminster Boating Base Limited

Subsidiary name Westminster Boating Base Limited Company registration number 02235218 Basis of control Ownership of equity shares Equity shareholding % 100%

----- Start of picture text -----
2022 2021
£ £
----- End of picture text -----

£ £
Total assets as at 31 March 159,413 29,115
Total liabilities as at 31 March 144,955 15,112
Total equity as at 31 March 14,458 14,003
Turnover for the year 168,260 22,764
Expenditure for the year 153,802 8,764
Profit for the year 14,458 14,000

Trustees who hold these shares on behalf of the charity.

Westminster Boating Base 30