Charity registration nwnlKr. 303251 POPLAIL BLACKWALL & DISTRICT ROWING CLUB FINANCIAL sfATEMENrs FOR THE YEAR ENDED 31 DECEMBER 2024
POPW BLACKWALL & DISTRICT ROWING CLUB CONTENrs Charity infornmtion 24 Rel of the TnLStees Indendent Examinff's rert Ststement of financial activities Balance Sheet 8-14 Notes to the
Page I POPLAII BIACKWALL & DISTIUCT ROWING CLUB CHARITY INFORMATION Trustees.. B Gliniecki- Captain N Evans- Vi¢e Captsin R Chaslell - Treasurer ANewland-S M Gesmann- Assistant Secretary N Paul - H&S/ Welfare E Benson I Sampson C Parker Operations adthEss: The Boathouse Feny Street Cubitt Town LoThlon E14 3DT Bankers: Lloyds Bank PLC Harlx>ur Island Chelmsford Legg St OSC l Legg Street Essex. CMI IJS tndependent Examiner: Simpson Wr¢ford LLP Welle51ey House Duke of Wellington Avenue Royal Arsen81 London SE18 6SS
Page 2 POPLAK BLACKWALL & DISTRICT ROWING CLUB REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 DECEMBER 2024 The TnK8tees pres¢nt their annua] rewyrt and flljancial ststsments for the year ended 31 DecemEer 2024. The financial statements have en PTepar&l in accordance with the accounting policies set out in note l of th¢ COUntS comply with th¢ CharihT'S Trust Dee the Chariiies Act 2011 and "Ac¢ounting and Re]x)rting by Charities.. Statement of Recommended Practice applicable to charities preparing their a¢¢ounts in accordance with the FinanciaI Reporting Standard applicable in the UK and Republic of Ireland (FRS102)" (effective l January 2019). ORJECTIVES AND ACTIVITIES Helping and educating the young people of the beneficial area through their l¢isure-time activities, in particular by way of rowing, scullin& boating and other similar activities and also by wa) of gymnastic activities. This is to develop their physical and mental capacity, so that they grow to fvll maturity as individuals memkn of society and that their conditions of life may ix improvejj. The Charity h&8 compli¢d with section 17(5) of the Charities Act 2011 having due regth of the publi¢ benefit guidan¢¢ published by the Commission. ACHIEVEMEIYTS AND PERFORTr14NCE The Charity's iÉkcom¢ increased from £121.616 in 2023 to £127296 in 2024. The costs increased from £94.259 in 2023 to £112, in 2024. The charity ntinueS to meet its main objectives of providing leisure activities - in particular sculling and rowing- to lo¢a] people. Club membership has now reached around 120 and accommodates everyone from retirees to teenagers. The club runs training sessioT]S ill the Monday - Thursday and water- based sessions on Saturday and Sunday mornings every week in which all members can participafr. The ¢lub ran a learn-to-row course aimed at local Ople l(x)king to ifflprove their health and fitness. The club invested in repair and maintenallce of equipment relat to its aims. and in the purchasing of new equipment. The ¢lub continues to provide a pathway for those wanting to develop their Srt to a higher level by facilitating training and racing throughout the )'ear all over the county. In 2024 the club organised three races open for local. regional, and nationai crew5 to participat4 with a particularly high participation rate from s¢hools. The club continues to provide a social environment for members and the local community with severdl organised and widely publicised eVts throughout the year. The Club remain successful in and out of the water. FINANCIAL REVIEW The financial posttion is detailed in the attached a¢counts. The Statement of Financial Activities shows & surplus for th¢ year of £16,560 (2023 surplus- £27,357). The Club has seen increase in income this year. With total income of £129.466 compared to £121.616 in 2023. However costs have also increased from £94259 last year to £112,906 this year. The Club remains in a strong financial position with net &8sets of £347.402 (2023 - £330,842). of which £289,23 (2023 - £286,499) is unrestricfrd and £57,779 (2023 - £44,343) is a designated fi. STRUCTURE GOVERNANCE AND MANAGEMENr The pr&8ent Club was e5tsblished under a trust deed dated 14 March 1966 and is entered in the Register of Charities as giStered charity number 303251. It is an uninrpOld charity.
Page 3 POPLAK BLACKWALL & DISTRICT ROWING CLUB REPORT OF THE TRusfEES (ColltiDuwJ) FOR THE YEAR ENDED 31 DECEMBER 2024 The Club's origins Gqn be trac¢d back &8 far &s 1845. Th¢ Trustee5 who served during the year and up to the date of si* of the fjnaocial stst¢ments were.. B Gliniecki- Captain- appointed 17 March 2024 D Bartlett- Caoain- resigned 17 March 2024 N Evans- Vice Captaiii- appointed 17 March 2024 H Joynes- Vice Captain- resigned 17 mh 2024 R Chastell - Treasurer A Newland- Secretary B Gliniecki- AssTStant Se¢r¢t3ry- r4signed 17 Matrh 2024 M G¢smann- Assis¢ani Se¢retary- appointed 17 Mah 2024 N Paul - H&SI Welfare C Parker I Sampson E Benson- appointed 17 March 2024 N Evans- resigned 17 MaTth 2024 TRUSTEE APPOINTMENT AND INTRODUCTION The Trnstees of th¢ Charity very ralY change. Any chang&s are authorised by all of the cumt TnLStees whts together etwjre that traillit is satisfactory. RISK ASSESSMENT The Trustees have conducted a review of the major risks to which the Charity Rs exposed There A no particular financial risks to the Charity. The key area of operdtional risk to the continuing and orderly provisson of their setvic¢s exists in the assurance of safety and security to members. The TThteeS believe that appropriate provision is made in this regard. INVESTMENT POLICY Surp1 funds are being held on deposit to enable the Charity to meet its operntional obliwdtions &s they fall due. The Trustees ensure that the Charity relVeS satisfactory interest on deposits. RESERVES POLICY The Trustees aim to ensure unrestricted incoming resourtts are maintsined at an adequate level to cover direct charitable expendtttw¢ and to generate a surplus sufficient to provide for capital expenditutE. The current reserve ba]ance for unrestricted funds is at £289.623 (2023 - £286.499). and capital fund balan¢¢ stands at £57,779 (2023 - £44,343}. PLANS FOR FirruRE PEIUODS The Trustees are keen to ensure ongoing improvement of the Club's financial and sporting results through continusj development and investment.
Page 4 POPLAIL BLACKWALL & DISTRICT ROWING CLUB REPORT OF THE TRUSTEES (Continu} FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEES RESPONSIBIUTIES The Trustees are reswnsible forpreparing the TnLStees' Report and fanCIal sLments in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Acceptoj Accounting Practi¢e). The law applicable to chariti&s in England and Wales requires the tsitstees to prepare financial statements for each financial year wbich give a ITue and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that y¢ar. In Preparing those financial statements. the tNst¢es are required to: sele¢t suitable accounting FK)lici¢s and then apply them consistently observe the methods and principl&8 ID the Charities SORP. make judgements aTrJ estimat¢s that are r¢asonable and pwden stste whether appllcable UK accounting standards have been followe& Subje to any materiat depart disclos and explained ID the financial statements: and prepare the finan¢ial statements on the going ¢oncern èAsis unless it is inappropriate to presume that th¢ ¢hallty will continue in op¢ratiotL The TnLSte¢s are reSr¢s1b]e for keeping adequale accounting records, which disclose with reasonable accuracy at any time. the financial position of the charity and which enabl¢ them to ensutE that the financial statements p]Y with the Charities Aa 2011, the Clwities (ACVrtts and Reports) Regulations 2(Ml8. and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and tsking reasonable steps for the prevention and detection of fraud and other irregularities. APPROVAL This report was approved by the Trustees on Roger Cha5tell Ttwtee
Page 5 POPLAK BLACKWALL & DISTRICT ROWING CLUB INDEPELYDENf EXAMINER?S REPORT TO THE TRUSTEES OF POPW BIACKWALL & DISTRICT ROWING CLUB I rert to the trteeS on my examination of the accounts of Poplar. Blackwall & District Rowing Club (the Charity) for the year ended 31 December 2024. which are set out on pages 6 to 14. Ruponsibullles andbasts ofreport As the trustees of the charity you are resnsIble forthe preparation of the accounts in a¢cordanc¢ with the requirements of the Ckniti¢s A¢t 2011. I report in resFct of my examinalion of ihe charity's financia] statements carried out under g¢¢tion 145 of the Charities Act 2011. In wrying out my examination I have folloi¥ed ail the applicable Directions given by the Charity Commission under section 145{5Xb) of the Charities Act 2011. Independenl rnIner sstatement I have compleled my examinalion. I Confinn that no material matter5 have come to my attention in co[u)tiOn with the examination giving me cause to believe that in any material respect: (l ) accounting records were not kept in resw of the charity as required by s¢ction 130 of the Charities Ath 2011. (2) the fllwicial statements do not accord with those rea)rds" or (3) the financial statements do not comply with the applicable requirements concerning the forn) and content of financial atements set out in the Charities {A¢counts and Rewrts) RegUllOnS 28 other than any r¢quir¢m¢ni thal the accounts giv¢ a ,tn and fair vAew' which is not a tnatter consid¢r¢d &8 part of an independent examination. I have no concerns and have come across no other matters in conneclion with the examination to which attention should be drawn in this reFrf>rt in order to enable a PTOFtr dersthnding of the accounts to reached. H Price ACA ICAEW For and on behalf of Simpson Wrefonl LLP. Cbartered ActouDtaDts Wellesley House Duke of Wellington Avenue Royal At3ena] London SEI 8 6SS Dated: B 3vl 101£
Page 6 POPLAK BLACKWALL & DtSTRicf ROWING CLUB srATEMENf OF FINANCIAL ACTtvrriES (INCLUDING INCOME AND EXPEI¥DITURE ACCOUND FOR THE YEAR ENDED 31 DECEMBER 2024 Notts De5igllted Capital Fnllds Totsl 2024 Total 2023 Fulld5 Income DonaiwTr5 and ky¢s Charitabk activit Other trad8 artivitK5 Invcstmcnts 3.120 94,358 5.170 3.597 23,221 26.341 94,358 5.170 3,597 30.601 81.585 5,345 4,085 106245 23221 129.466 121,616 ExpenditTAre on: Charitable &tivi19 103.121 9.785 112.906 94.259 Totsl expendith 103.121 9.785 112.906 94.259 m•veThent ID httd$ 3,124 13,436 16.560 27,357 R¢¢1[1110n of fwidJ: Fund bakn¢e$ at l January 2024 286,499 44,343 330,842 303.485 FuDd bknre5 It 31 Deber2024 289,623 57,779 347,402 330,842 Th¢ statement of fancial 1Vi iDcbkn all 11$ And kn5s¢s Ye{x)ed in th¢ y. AM iwme and exr£Thli derive from Contillu athil*S.
Page 7 POPLAK BLACKWALL & DISTIUCT ROWING CLUB BALANCE SHEET AT 31 DECEMBER 2024 Notes 2024 2023 Fl%¢d assets 139.046 146,161 Current 8S5ets Stk Debtors Cash at ban 450 2,403 207.843 450 358 186.153 210.696 186.961 Ltsbilities: Creditors falling due withui one year 10 2.340 (2,280 Net currell¢ 49sets 208.356 184.681 Net 8&8ets 347,402 330,842 The funds oftbe charity: Unrestricted funds DeSited capital funds 289.623 57,779 286,499 44,343 347.402 330,842 The notes at pages 8 to 14 forni part of these aw)unts. Approved by the Twste¢s on and Sign on their thrbY." B GliDiecki- Captain N Evans- Vice Captsin Charity Number: 303251
Page 8 POPLW BLACKWALL & DISTRI ROWING CLUB NOTES TO THE ACCOUNfS FOR THE YEAR ENDED 31 DECEMBER 2024 AccouNfING POLICIES Cbarity information Poplar, Blackwall & District Rowing Club is an unincorFx)rdd Charity registered with the Chartty Com[nilon in Engtand and Wates. The 0ratIOnal address is The Boathouse, Ferry StreeL Cubitt Town, London E14 3DT. 1.] Accounting convention The financia] statements have been prepar] in accordance with the Charity's Tt Deed the Charities Act 2011 and "Accounting and Reporting by Clwities.. Ststement of Recommended Practice applicable to charities preparing their accounts in a¢¢ordance wtth the Financial Rewrting Standard applicable in the UK and Republic of Ireland (FRS 102)- (efftive l January 2019). The charity co11tutcS a Public Benefit Entity as defined by FRS 102. The C])arity has taken advantage of the provisions in the SORP for charlties plYIng FRS 102 Updated Bulletin I not to prepare a Statement of Cash Flows. The a¢¢ounts are pre in sterlin& which is the functional cutyency of the ¢harity. Monetary amounts in the fjnallcial statements are rounded to the nearest £ The financial statements have IKen prepared under the histori¢ ¢ost Conventio modified to include the revaluation of freehold properttes and to include certain financial instruments at fair value. The principl¢ a¢counting polici¢s adopted are set below. 1.2 Golng concern At the tim¢ of approving the finaIal 5tatement% the trustees have a reasonable expectation that the Charity has adequate resources to continue in 01xlOnal exist¢nce ftir the foreseeable future. Thus the trustees ¢ontinue adopt th¢ going concern basis of accounting in preparing the financia] ststements. 1.3 Cb8ri¢ble funds Unrestiicted funds are available for use at the dts¢retion of the tnLStees in fUrtherae of their charitable objeciives. Untrstricted funds include donations and other incoming resources receivable or generated for the objects of the clwity without further Slfi purFOSe. Designated capital funds are unrestricted funds earn?arked by the Management Committee for capital PUTFM)ses. Expenditure which m¢ets thesecriteria is Charged to th¢ fun& togetherwith a fairallocation of depreciation. 1.4 Income recognition All income is recognised once the charity has entidement to the incorne. it is probable th¢ InMe will ix ceiVed and the amount of income receivable can be Measur reliably. Voluntary income is re1ved by way of thnations and gtfL8 and 1$ included in full in the Statement
Page 9 POPLAtL BLACKWALL & DJSTIUCT ROWING CLUB NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 of Financial Activities. when Teceivable. at market valu& The value of services provided by Volunteers has not been included. 1.5 Irrecoverable VAT Irrecoverable VAT is charged against the expenditure heading for which it w&s incwred. 1.6 Expenditure re¢ognitio Liabilities are recognised as eXndItUre as s(M)n as there is a legaj or constru¢tive obligation committing the charity to that expenditure. it is probable that settlement will be required and the amount of the obligation can be measured reliably. Charitable actÉvities costs include the direct cost of PToviding servi(Y5. as well as a share of overheads. Depreciation on capital items is charged to the appropriate capital fund. 1.7 Tangible fixed a&sets Tangible fixed assets are initially me&sureJ at CQ5t and subsquently me&8ured at cost or valuatio nel of d¢pre¢iation and any impairment losses. It is the PXpli¢y of the Club to provide depreciation at the following annual rates in ord¢r to write off each &sset over its estimated use1 economic life: Motor vehicla Boats & equipment Fixtures & flttings 25OA on net ly)ok value I/0 on net Ix)ok value IOYO on net FM)ok value The Trustees have decided to not depciate the freehold property &s they believe the residual Value and estimated useful life would mak¢ any d¢preciation immatrrial. 1.8 Stock Stock is measured at the lower of cost or net I]Sable value. 1.9 Cash alld cash equivalents Cash and cash equivalents inclLEde cash in harf depx)sits held at call with banks. other short-terni liquid investments with original maturiti&8 of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowin in current liabilities. 1.10 Debtors Trade and other debtot3 rognISed at the settlement amount du¢. Prepayments are valu¢d at the amount pretAid. 1.1 I Creditors and provisioDS Creditors and provisiorL8 are recogni5ed where the Charity has a present obligation resulting from a p&st event that will Probably result in the transfer of fimds to a third party. and the amount due to settle the obligatiOD can be measured or estimated reliably. Cr¢diiOTS and provisions are nornialty rewgnised at their settlement amount after allowing for any ttade discounts due.
Pag¢ 10 POPLAK BLACKWALL & DISTRICT ROWING CLUB NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 2. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS In the application of the charity's accounting policies, the tnL£te¢s are required to tnake judgemen estimales and &ssumpliorks aboutthe canying amountofassets and liabilities that are notreadily apparent from other sources. The estimates and 0Clated assumptiorLS are b&8ed on historical experience and other factors are considered to relevant. A¢tual results may differ from these estimates. The estiMe$ and underlying assumptions are reviewed on an ongoing FAsis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that perio¢ or in the period of the revision and firture perii)d8 whert the revision affects both cu]Tent aDd future periods. INCOME FROM DONATIONS AND LEGACIES Unrestricted Designited Uneted Desig#*ted runds ¢apIt funds funds pAl ndS 2024 2024 2024 2023 DonatX¥n5 and SFX)nsorship 3.120 23.221 21,555 9,046 INCOME FROM CHARrrABLE ACTtVlTIES UnrEstriet¢d Unrtstiieted nds 2024 2023 Cbthing Regetta Racktng Subs¢rtptKbns So¢iai events Profrt on disp of fLxed &ets Sundry income 34.194 4.730 46,429 4,478 2.170 1.510 24,976 4,480 50.729 94.358 81.585
Page 11 POPLAK BLACKWALL & DISTrICT ROWING CLUB Y40TES TO THE AccouNrs FOR TIIE YEAR ENDED 31 DECEMBER 2024 INCOME FROM OTHER TRADING AcrIvrriES U51Cle rullds 2023 funds 2024 Crown Ch k)ttery 5.170 5.345 INCOME FROM INVESTMEiYrs UnstriCted Unre5ttlcted funds funds 2024 2023 Int¢Test e1Ved 3.597 4.085 DIRECT CHARABLE EXPENDTllJRE 2024 2023 Clothing Depreciation Insurance Licences, subscriptions and affiliation fees LighL heat and water Motor expenses Rates Rent Repairs and maintenance 1,694 9.785 15.268 2.709 9.559 296 825 1.326 4.368 41,876 2.400 225 10,785 15.538 3,465 17,895 1.187 10,241 16,377 2.280 221 boats and ¢quipment premises Accountancy Telephone Social events Regetta ¢osts Sundry expenses Support costs 3,219 18,446 12,061
Pag¢ 12 POPLA BLACKWALL & DISTRICT ROWING CLUB NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 FIXED ASSETS Freehold Property Motor Boats & Vebicles Eqmipmellt res & Total Fittill Cost At l January 2024 Additions Disposals 57.951 293,09) 33,691 395.232 3,0(Kl At 31 Decemb¢r 2024 Depreciation At l January 2024 Clwge for the year DistM)sals 6,071 1,107 214.415 8.167 28,585 511 249,071 9,785 At 31 Decernber 2024 Net book value At 31 D¢¢¢mber 2024 At 31 December 2023 DEBTORS 2024 2023 Prepatd expenses
Page 13 POPW BLACKWALL & DISTRI ROWING CLUB NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 io. CREDITORS Anbounts falling due within olle year 2024 2023 Accrued expens&8 11. DESIGNATED CAPITAL FUNDS 2024 2023 Income Donations athl grants 23,221 Direct Charitsble EipeDditure D¢pre¢tation Net Movement in Funds DOted Fixed A&set and Grnllts t0rdS Pllreb of Fixed Assets 2024 2023 As at 1st January 2024 Received during the year 219.035 209,989 As at 31st December 2024 Depre¢i*tion As at 1st January 2024 Deprecation for year 174.692 163,907 As at 3 1st December 2024 Funds Empknyed Designated funds have been assigned by the to puh fixed assets. Additional details are included in the Trustee rert.
Page 14 POPLAK BLACKWALL & DISTrtCT ROWING CLUB NOTES TO THE AccoiiNrs FOR THE YEAR ENDED 31 DECEMBER 2024 12. TAXATION The charity is exempt from rpOratiOn t&x as all of tts income is ¢hAritsble and is appli for charitable purp)ses. 13. TRUSTEES None of the tTUStee8 (or any perso8 cOnnd with them) r1Ved any remunelation or benefits from the charity during the year. E4. EMPLOYEES Th¢ avernge monthly number of employees durlng the year was rril (2023 - nil). 15. NET MOVEMEIYT IN FUNDS The net movement in fid5 is stated after ¢harginW(crediting}: 2024 2023 Fees payabl¢ for the independ¢nt examiOn of the charity's Flnancial statements 16. RELATED PARTY TRANSACTIONS During the year nine trnstees h*Jtheir extthses met by the charity. The trustees were reimbursed for motor expensesy repait3 and mmintetwice, R¢getta costs and sundry expenses paid on beha]f of the charity. The totsl amount reimbutsed w&8 £8.612. There were no disclosable related paty transactions in 2023.