Charity Number.. 303251 POPLAIL BLACKWALL & DISTRICT ROWING CLUB FIP4ANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 POPLAIL BLACKWALL & DISTRICT ROWING CLUB CONTENTS Charity infomiation 24 Report of the Trustees Independent Exatniner's report Statement of financial activities Balance sheet 8-13 Notes to the accounts Page I POPLAII BLACKWALL & DISTRICT ROWING CLUB CHARITY INFORMATION Trustees.. Dan Bartlett- Captain Robert Mackenzie-Grieve- Vice Capthin Roger Chastell - Tre￿urer Anita Newland - Secretary Steve Sale - Assisiant Secretary Nick Paul - H&S/ Welfare Maria Caldwell Robert Coleman Ginny Williams operatio[￿ addTe5S: The Boathouse Fery Street Cubitt Town London E14 3DT Bankers: Lloyds Bank PLC Harbour Island Chelmsford Legg St OSC l Legg Street Essex, CMI IJS Independent Examiner= Simpson Wreford LLP Wellesley Hous¢ Duke of Wellington Avenu¢ Royal Arsenal London SE18 6SS Page 2 POPLA￿ BLACKWALL & DISTRICT ROWING CLUB REPORT OF THE TRUSTEFS FOR THE YEAR ENDED 31 DECEMBER 2020 The Trustees pwent their annual report with financial statements of the charity for the year ended 31 December 2020. The financial staieinenls have been prepared in accordance with the accounting policies set out in note l of the accouiits and comply with the Charity's Trust Deed, the Char51ies Act 2011 and 'Aecounting and Reporting by Charities.. Statement of Recommended Practiee applicable lo cliarities preparing their accounts in accordance with the Financial Reporting Standard applicabSe in the UK and Republic of Ireland (FRS102) (effective l January 2019)" LEGAL STATUS The Poplar, Blackwall & District Rowing Club is a registered charity and governed by its declaration of Iru8t. MAIN o￿F.CTlVFs Helping and educating the young people of the beneficial area through their Icisure-time a¢livities, in particular by way of rowing, sculling> boating and other similar activities and also by way of gymnastic aetivities. This is lo develop their phygical and mental capacity, so that they grow lo full maturity as individuals and mernbers of society and that their conditions of life may be improved. The Cliarity has ¢oinplied with section 17(5) of the Charities Act 2011 having due regard of the publi¢ Eeiiefil guidance published by the Commission. REVIEW OF ACTIVITIES The linancial position is detailed in the attsched accounts. Although the Club has been impacted by Covid- 19 they have managed to maintain a strong financial position due to the continues support of their members and due to the hclp of a grant from the local authority. London Borough of Tower Hamlets. The Club is looking￿ forward to being able lo reopen fully. STATUS The present Club was established under a trust deed daied 14 March 1966 and is entered in the Register of Chai'ities as registered charity number 303251. It is an unincorporated charity. The Club'5 origins can be traced back as far as 1845. RISK ASSESSMENT The Trustees have conducied a review of the major risks to which the Charity is exposed. There are no particular financial risks to the Charity. The key area of operational risk io the continuing and orderly provision of theii. services exists in the assurance of safety and security to members. The Trustees IRlieve tl)at appropriate provision is made in this regard. INVESTMENT POLICY Surplus funds are being held on deposit to enable the Charity to m¢et its oper&tional obligalions as they fall due. The Trustees ensure that the Charity receives satisfactory interest on deposits. Page 3 POPLAK BLACKWALL & DISTRICT ROWING CLUB REPORT OF THE TRUSTEES (Continued) FOR THE YEAR ENDED 31 DECEMBER 2020 TRUSTEES The Trustees of the Charity very rarely change. Any changes are authorised by all of the current Trustees who together ensure that training is satisfactory. The Trustees who served during the year were.. Dan Bartlett- Captain Robert Mackenzie-Grieve- Vice Captain Roger Chastell - Treasurer Anita Newland- Secretary Sieve Sale - Assistant Secretsry Nick Paul - H&S/ Welfare Maria Caldwell Robert Coleman Ginny Williams All the Trustees were still acting as Trustees of the Charity at the dale of the signing of the Trustees Reporr. ACHIEVEMENTS AND PERFORMANCE The Charity's income fell slightly from £92.174 in 2019 EO £89,265 in 2020. There was also a reduction in eosts in comparison lo last ye&r as 2019 had additional expenditure on the Clubhouse and equipment. The Club remained successful in and out ofihe water. FINANCIAL REVIEW The Statement of Financial Activities shows a surplus for the year of £14,52912019 defi¢it- £22,375}. RESERVES POLICY The Trustees aim to ensure that unrestricted incoming resources are maintained at an adequate level to cover direct charitable expenditure and to generate a surplus sufficient to provide for capital expenditure. The curr¢nl rescrve balance for unrestricted funds is ar £196,557 {2019 - £180,363>, and capital tund balance stands at £45,368 {2019 - £47,033). PLANS FOR FUTURE PERIODS The Trustees are k¢¢n lo ensure ongoing improvement of the Club's financial and sporting results through coniinued development and investment. Page 4 POPLAII BLACKW ALL & DISTRICT ROWING CLUB REPORT OF THE TRUSTEES {Continlled) FOR THE YEAR ENDED 31 DECEMBER 2020 TRUSTEES RESPONSIBILITIF.S The Trustees are responsible for prepariiig the Trustees, Report and financial ststements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praeticel. The law applicable to charities in England and Wales requires the trustees to prepare financial statements foi ¢ach financial year which give a triie and fair view of the state of affairs of the charity and of the incoming resources and application of resources if the charity for that year. In preparing those financial ststeinents, the Iru5tces are required to.. select suitable accounting policies and then apply them eonsistent]y' observe the methods and principles in the Charities SORP. make judgements &nd estimates that ar¢ reasonable and prudent,. state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charlty will continue in operation. Tl)e Trustees are responsible for keeping sutTicient accounting records, which diselose with reasonable accui'acy al any time, the financial position of the charity and which enable them to ensure that the financial statcments comply with Comply with the Cl)arities Act 2011, the Charities (Accounts and Repons) Regulations 2008, and the provisions of the Trust deed. They are &lso responsible for safeguarding the assets of the eharity and taking reasonable steps for the prevention and dele¢tion of fraud and other irregularities. APPROVAL l￿W￿a Roger Page S POPLAII BLACKWALL & DISTRICT ROWING CLUB INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF POPLAII BLACKWALL & DISTIUCT ROWING CLUB I report to the trustees on my examination of the accounts of Poplar, Blackwall & DistTlCt Rowing Club (the Charity) for the year ended 31 D¢¢¢mber 2020. whi¢h are sei out on pages 6 to 13. Responsibilities and basis of reporl As the trustees of the ¢harily you are responsible for the p￿paratIOn of the accounts in accordance with the requirements of the Charilies Act 2011 (the 201 l Act). I report in r¢sp¢ct of Imy ¢xa]ninatioii of the trustees, accounts carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5}(b) of the 2011 Act. Jndependenl examiner's slatemenl I have completed my examination. I confim) ihai no materi21 matters have come to my artenlion in conn¢¢tion with the examination giving me cause to believe that in any material re5pecl'. (l) accounting records were not kept in respecl of the Trust as required by seclioii 130 of tlie 2011 (2) the accounts do not accord with those records; or (3) the accounts do not comply with the applicable requirements concerning the form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the account5 give a 'true and fair view, which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in ¢onneetion with the examination lo which attention should be drawn this report in order to enable a proper understanding of Ihe counts to be reached. C A Grah2m FCA ICAEW For *nd on bebaifof Simpson Wreford LLP, Chartered Accountants Wellesley House Duke of Wellington Avenue Royal Arsen London SEI 8 6SS Dated.. Page 6 POPLA￿ BLACKWALL & DISTRICT ROWING CLUB STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUND FOR THE YEAR ENDED 31 DECEMBER 2020 Note5 Designated Unrestricted CApital Funds Funds Total 2020 Total 2019 Income and endowments 17 17 1,107 200 32286 Club Race DOnat￿n$. prTze money and sponsorshrp Grani ncorne Racking Crown ¢knb bttery Regattas subscript￿ns Social Events Sun&y income 5,941 25,(X)O 3.700 5245 7592 13,533 25.000 3.700 5245 3.835 13 41205 4,485 2,603 38,902 38.￿2 2,868 2,868 Total ineome 89 Expenditu Expenditute on charitabk actIv￿S 65.479 9257 74,736 114J49 Total e xpenditure 65,479 9257 74,736 114Y9 Ne t movement in fijnds 16,194 (1.6651 14529 (22275} Total funds brought fonvard 180J63 227 96 249,771 Total funds Carried forward 196557 45J68 227J96 Page 7 POPLAII BLACKWALL & DISTRicf ROWING CLUB BALANCE SHEET AT 31 DECEMBER 2020 Notes 2020 2019 Fixed assets 140,987 150,243 CumDt assets Stock Debtors Cash at bank 450 2285 l(10,613 450 2.835 76,578 103348 79,863 Liabilities: Credit015 falling within one year 6 2,410 2,710 NetcunTnt ￿Sets 100.938 77.153 Netassets 241.925 227J96 Thè funds of tbe eh*rity: Unrestr￿ted fijnds Desgnated capital funds 196557 45J68 180,363 47.033 241,925 227.396 The notes at pages 8 to 13 form part of these accounts. Approved by the Trustees on 21 May 2021 and signed on their behalf by'.- D Bartlett- Captain R Mackenzie- riev Vice Captain Charity Number-. 303251 Page 8 POPLAK BLACKWALL & DISTRICT ROWING CLUB NOTES TO THE ACCOUp￿s FOR THE YEAR ENDED 31 DECEMBER 2020 ACCOUNTING POLICIES Charity information Poplar, Blackwall & District Rowing Club is an unincorporated Charity registered with the Charity Commission in England and Wales. The operation office is The Boathouse, Ferry Street, Cubitt Town, Loiidon E14 3DT. l. l Basis of preparatinn of 8ccounts The finanLial statements have been prepared in accordance with the Charity's Trust Deed, the Charities Act 2011 and 'Aecounting and Reporting by Charities.. Statement of RecoFnmended Practice applieable to charities preparing their accounts in aeeordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effeetive l January 2019)" Tlie charity constitutes a public benefit entity as defined by FRS 102. The Charity has tsken advantage of the provisions in the SORP for charities applying FRS 102 Updated Bulletin I not to prepare a Statement of Cash Flows. The accounts are prepared in sterling, which is the functional currency of the ¢harily. Monetary amounts in these financial statements are rounded lo the nearest £. The financial statements have been prepared under the historic cost convention, modified to include the revaluation of freehold properties and to include certain financial instruments at fair value. The principle accounting policies adopted are set out below. 1.2 Going ¢on¢eTII Ai the titne of approving the financial statements, the trustees have a reasonable expectation that the Cliarity has adequate resources to Continue in operatioiial existence for the foreseeable future. Thus the trustees continuc to adopt tlie going concern basis of accounting in p￿ paring the financial slalements. 1.3 Fund structure Ilnrestri¢ted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds. tksignxted ¢apital funds are unrestricted funds eam)arked by the Management Committee for capital purposes at the time of receipt of such donation and grants £7,592 (2019 - £18,442). Expenditure which meets these eriteria is charged to the fund, logether with a fair allocation of depreciation. 1.4 Income reco2nition All incoine 1% re¢ognised once the charity has entitlement to the ineome, it is probable that the inu)me will be received and the amount of income receivable can be measured reliably. Voluntary income is received by way of donations and gifts and is incliided in full in the Stsiement of Financial Aclivilies, when reeeivable, at market value. The value of services provided by volui)teers has not been included. Page 9 POPLAIL BLACKWALL & DISTRICT ROWINC CLUB NOTES TO THE ACCOUNTS FOR THE YEAR EfiDED 31 DECEMBER 2020 1.5 Irrecoverable VAT Irrecoverable VAI" is charged against the expenditure heading for which it was incurred. 1.6 Expenditure recognilion Liabilities are re¢ognised as expenditure as soon as there is a legal or constructive obligation commilling the charity io thai expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Charitable activities costs include the direct cost of providing services, as well as a share of overheads. Depreciation on ¢apitai items is charged to the appropriate capital fund. 1.7 Tangible fixed assets Tdngible fixed asset5 are initially measured at cost and subsequenily measured ai cosi or valuation. net of depreciation and any impairnient losses. li is the policy of the Club to provide depreciation ai the following annual rate5 in order to write oti- each asset over its estimated useful economic life: Motor vehicles Boats & equipment Fixtures & fittings 25 % on net book value IOO/Tr on nel book value IOO/(> on n¢1 b(>ok valuc The Trustees have decided to not depreciate the freehold property as they believe the residual value and estimated useful life would make any depreciation iminaierial. 1.8 Sto¢k Stock is measured at the lower of cost or net realisable value. 1.9 Casb And Cash equivAlents Cash and cash equivalents include cash in hand. deposits held at call with banks, other sliort-temi liquid invesimtnts with original maturilies of thTee months or less. and bank overdrafts. B