Charity registration number: 303251
POPLAR, BLACKWALL & DISTRICT ROWING CLUB
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
POPLAR, BLACKWALL & DISTRICT ROWING CLUB
CONTENTS
| 1 | Charity information |
|---|---|
| 2-4 | Report of the Trustees |
| 5 | Independent Examiner’s report |
| 6 | Statement of financial activities |
| 7 | Balance sheet |
| 8-14 | Notes to the accounts |
Page 1
POPLAR, BLACKWALL & DISTRICT ROWING CLUB
CHARITY INFORMATION
Trustees: B Gliniecki – Captain N Evans – Vice Captain R Chastell - Treasurer A Newland – Secretary M Gesmann – Assistant Secretary N Paul - H&S / Welfare I Sampson A Kirpal T Blyth
Operations address: The Boathouse Ferry Street Cubitt Town London E14 3DT
Bankers:
Lloyds Bank PLC Harbour Island Chelmsford Legg St OSC 1 Legg Street Essex, CM1 1JS
Independent Examiner: Simpson Wreford LLP Wellesley House Duke of Wellington Avenue Royal Arsenal London SE18 6SS
Page 2
POPLAR, BLACKWALL & DISTRICT ROWING CLUB
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2025
The Trustees present their annual report and financial statements for the year ended 31 December 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 of the accounts and comply with the Charity’s Trust Deed, the Charities Act 2011 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 (FRS102)” (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Helping and educating the young people of the beneficial area through their leisure-time activities, in particular by way of rowing, sculling, boating and other similar activities and also by way of gymnastic activities. This is to develop their physical and mental capacity, so that they grow to full maturity as individuals and members of society and that their conditions of life may be improved.
The Charity has complied with section 17(5) of the Charities Act 2011 having due regard of the public benefit guidance published by the Commission.
ACHIEVEMENTS AND PERFORMANCE
The Charity’s income decreased from £129,466 in 2024 to £118,183 in 2025. The costs increased from £112,906 in 2024 to £120,672 in 2025.
The charity continues to meet its main objectives of providing leisure activities - in particular sculling and rowing - to local people. Club membership has now reached around 100 and accommodates everyone from retirees to teenagers. The club runs training sessions in the gym Monday - Thursday and waterbased sessions on Saturday and Sunday mornings every week in which all members can participate. The club ran a learn-to-row course aimed at local people looking to improve their health and fitness. The club invested in repair and maintenance of equipment related to its aims, and in the purchasing of new equipment. The club continues to provide a pathway for those wanting to develop their sport to a higher level by facilitating training and racing throughout the year all over the country. In 2025 the club organised three races open for local, regional, and national crews to participate, with a particularly high participation rate from schools. The club continues to provide a social environment for members and the local community with several organised and widely publicised events throughout the year.
The Club remained successful in and out of the water.
FINANCIAL REVIEW
The financial position is detailed in the attached accounts. The Statement of Financial Activities shows a deficit for the year of £2,489 (2024 surplus - £16,560). The Club has seen a decrease in income this year, with total income of £118,183 compared to £129,466 in 2024. Costs have also increased from £112,906 last year to £120,672 this year. The Club remains in a strong financial position with net assets of £344,913 (2024 - £347,402), of which £296,741 (2024 - £289,623) is unrestricted, and £48,172 (2024 - £57,779) is a designated fund.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The present Club was established under a trust deed dated 14 March 1966 and is entered in the Register of Charities as registered charity number 303251. It is an unincorporated charity.
Page 3
POPLAR, BLACKWALL & DISTRICT ROWING CLUB
REPORT OF THE TRUSTEES (Continued)
FOR THE YEAR ENDED 31 DECEMBER 2025
The Club’s origins can be traced back as far as 1845.
The Trustees who served during the year and up to the date of signature of the financial statements were:
B Gliniecki – Captain N Evans – Vice Captain R Chastell - Treasurer A Newland – Secretary M Gesmann – Assistant Secretary N Paul - H&S/ Welfare C Parker – resigned 06 April 2025 I Sampson E Benson – resigned 06 April 2025 A Kirpal – appointed 06 April 2025 T Blyth – appointed 06 April 2025
TRUSTEE APPOINTMENT AND INTRODUCTION
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.
RISK ASSESSMENT
The Trustees have conducted 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 to the continuing and orderly provision of their services exists in the assurance of safety and security to members. The Trustees believe that appropriate provision is made in this regard.
INVESTMENT POLICY
Surplus funds are being held on deposit to enable the Charity to meet its operational obligations as they fall due. The Trustees ensure that the Charity receives satisfactory interest on deposits.
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 current reserve balance for unrestricted funds is at £296,741 (2024 - £289,623), and capital fund balance stands at £48,172 (2024 - £57,779).
PLANS FOR FUTURE PERIODS
The Trustees are keen to ensure ongoing improvement of the Club’s financial and sporting results through continued development and investment.
Page 4
POPLAR, BLACKWALL & DISTRICT ROWING CLUB
REPORT OF THE TRUSTEES (Continued)
FOR THE YEAR ENDED 31 DECEMBER 2025
TRUSTEES RESPONSIBILITIES
The Trustees are responsible for preparing the Trustees’ Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true 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 year. In preparing those financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK 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 charity will continue in operation.
The Trustees are responsible for keeping adequate accounting records, which disclose with reasonable accuracy at any time, the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
APPROVAL
This report was approved by the Trustees on 29 April 2026
………………………………………… Roger Chastell Trustee
Page 5
POPLAR, BLACKWALL & DISTRICT ROWING CLUB
INDEPENDENT EXAMINER’S REPORT
TO THE TRUSTEES OF POPLAR, BLACKWALL & DISTRICT ROWING CLUB
I report to the trustees on my examination of the accounts of Poplar, Blackwall & District Rowing Club (the Charity) for the year ended 31 December 2025, which are set out on pages 6 to 14.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
(1) accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011.
-
(2) the financial statements do not accord with those records; or
-
(3) the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 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 connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
C A Graham FCA ICAEW For and on behalf of Simpson Wreford LLP, Chartered Accountants Wellesley House Duke of Wellington Avenue Royal Arsenal London SE18 6SS
Dated: 29 April 2026
Page 6
POPLAR, BLACKWALL & DISTRICT ROWING CLUB
STATEMENT OF FINANCIAL ACTIVITIES
(INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2025
| Notes Income from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Investments 6 Total income Expenditure on: Charitable activities 7 Total expenditure Net movement in funds Reconciliation of funds: Fund balances at 1 January 2025 Fund balances at 31 December 2025 |
Designated Unrestricted Capital Total Total Funds Funds 2025 2024 £ £ £ £ 3,119 779 3,898 26,341 108,275 - 108,275 94,358 1,165 - 1,165 5,170 4,845 - 4,845 3,597 117,404 779 118,183 129,466 110,286 10,386 120,672 112,906 110,286 10,386 120,672 112,906 7,118 (9,607) (2,489) 16,560 289,623 57,779 347,402 330,842 296,741 48,172 344,913 347,402 |
|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Page 7
POPLAR, BLACKWALL & DISTRICT ROWING CLUB
BALANCE SHEET AT 31 DECEMBER 2025
----- Start of picture text -----
Notes 2025 2024
£ £ £ £
Fixed assets 8 146,435 139,046
Current assets
Stock 450 450
Debtors 9 2,127 2,403
Cash at bank 198,301 207,843
200,878 210,696
Liabilities:
Creditors falling due within one year 10 (2,400) (2,340)
Net current assets 198,478 208,356
Net assets 344,913 347,402
The funds of the charity:
Unrestricted funds 296,741 289,623
Designated capital funds 11 48,172 57,779
344,913 347,402
----- End of picture text -----
The notes at pages 8 to 14 form part of these accounts.
Approved by the Trustees on 29 April 2026 and signed on their behalf by:
…………………………………… B Gliniecki – Captain
…………………………………… N Evans – Vice Captain
Charity Number: 303251
Page 8
POPLAR, BLACKWALL & DISTRICT ROWING CLUB
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2025
1. ACCOUNTING POLICIES
Charity information
Poplar, Blackwall & District Rowing Club is an unincorporated Charity registered with the Charity Commission in England and Wales. The operational address is The Boathouse, Ferry Street, Cubitt Town, London E14 3DT.
- 1.1 Accounting convention
The financial statements have been prepared in accordance with the Charity’s Trust Deed, the Charities Act 2011 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)” (effective 1 January 2019). The charity constitutes a Public Benefit Entity as defined by FRS 102.
The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Updated Bulletin 1 not to prepare a Statement of Cash Flows.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to 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 concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
- 1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Unrestricted funds include donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose.
Designated capital funds are unrestricted funds earmarked by the Management Committee for capital purposes. Expenditure which meets these criteria is charged to the fund, together with a fair allocation of depreciation.
- 1.4 Income recognition
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.
Voluntary income is received by way of donations and gifts and is included in full in the Statement
Page 9
POPLAR, BLACKWALL & DISTRICT ROWING CLUB
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2025
of Financial Activities, when receivable, at market value. 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 was incurred.
- 1.6 Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive 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 activities costs include the direct cost of providing services, as well as a share of overheads.
Depreciation on capital items is charged to the appropriate capital fund.
- 1.7 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
It is the policy of the Club to provide depreciation at the following annual rates in order to write off each asset over its estimated useful economic life:
Motor vehicles 25% on net book value Boats & equipment 10% on net book value Fixtures & fittings 10% on net book value
The Trustees have decided to not depreciate the freehold property as they believe the residual value and estimated useful life would make any depreciation immaterial.
1.8 Stock
- Stock is measured at the lower of cost or net realisable value.
1.9 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.10 Debtors
Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.
1.11 Creditors and provisions
Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party, and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Page 10
POPLAR, BLACKWALL & DISTRICT ROWING CLUB
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors are considered to relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3. INCOME FROM DONATIONS AND LEGACIES
----- Start of picture text -----
Unrestricted Designated Unrestricted Designated
funds capital funds funds capital funds
2025 2025 2024 2024
£ £ £ £
Donations and sponsorship 3,119 779 3,120 23,221
----- End of picture text -----
4. INCOME FROM CHARITABLE ACTIVITIES
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| £ | £ | |
| Clothing | 481 | 847 |
| Regetta | 40,857 | 34,194 |
| Racking | 5,256 | 4,730 |
| Subscriptions | 51,341 | 46,429 |
| Social events | 5,416 | 4,478 |
| Profit on disp of fixed assets | - | 2,170 |
| Sundry income | 4,924 | 1,510 |
| 108,275 | 94,358 |
Page 11
POPLAR, BLACKWALL & DISTRICT ROWING CLUB
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2025
5. INCOME FROM OTHER TRADING ACTIVITIES
----- Start of picture text -----
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Crown club lottery 1,165 5,170
----- End of picture text -----
6. INCOME FROM INVESTMENTS
----- Start of picture text -----
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest received 4,845 3,597
----- End of picture text -----
7. DIRECT CHARITABLE EXPENDITURE
| Clothing Depreciation Insurance Licences, subscriptions and affiliation fees Light, heat and water Motor expenses Rates Rent Repairs and maint - boats and equipment - premises Consultancy Accountancy Social events Regetta costs Sundry expenses Support costs |
2025 2024 £ £ 114 1,694 10,386 9,785 15,394 15,268 4,303 2,709 11,668 9,559 462 296 1,860 825 1,548 1,326 8,063 4,368 28,593 41,876 5,850 - 2,460 2,400 5,168 3,219 23,636 18,446 1,167 1,135 |
|---|---|
| 120,672 112,906 |
Page 12
POPLAR, BLACKWALL & DISTRICT ROWING CLUB
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2025
| 8. FIXED ASSETS Freehold Property Cost £ At 1 January 2025 57,951 Additions - Disposals - At 31 December 2025 57,951 Depreciation At 1 January 2025 - Charge for the year - Disposals - At 31 December 2025 - Net book value At 31 December 2025 57,951 At 31 December 2024 57,951 9. DEBTORS Prepaid expenses |
Motor Boats & Vehicles Equipment £ £ 10,500 290,290 - 17,775 - - 10,500 308,065 7,178 217,112 831 9,096 - - 8,009 226,208 2,491 81,857 3,322 73,178 2025 £ 2,127 |
Fixtures & Fittings £ 33,691 - - 33,691 29,096 459 - 29,555 4,136 4,595 |
Total £ 392,432 17,775 - 410,207 253,386 10,386 - 263,772 146,435 139,046 2024 £ 2,403 |
|---|---|---|---|
Page 13
POPLAR, BLACKWALL & DISTRICT ROWING CLUB
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2025
| 10. CREDITORS Amounts falling due within one year Accrued expenses 11. DESIGNATED CAPITAL FUNDS Income Donations and grants Direct Charitable Expenditure Depreciation Net Movement in Funds Donated Fixed Asset and Grants towards Purchase of Fixed As at 1st January 2025 Received during the year As at 31st December 2025 Depreciation As at 1st January 2025 Deprecation for year As at 31st December 2025 Funds Employed |
2025 £ 2,400 2025 £ 779 (10,386) (9,607) Assets 2025 £ 242,256 779 243,035 184,477 10,386 194,863 48,172 |
|
|---|---|---|
Designated funds have been assigned by the Trustees to purchase fixed assets. Additional details are included in the Trustee report.
Page 14
POPLAR, BLACKWALL & DISTRICT ROWING CLUB
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2025
12. TAXATION
The charity is exempt from corporation tax as all of its income is charitable and is applied for charitable purposes.
13. TRUSTEES
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
14. EMPLOYEES
The average monthly number of employees during the year was nil (2024 – nil).
15. NET MOVEMENT IN FUNDS
The net movement in funds is stated after charging/(crediting):
| Fees payable for the independent examination of the charity’s Financial statements |
2025 £ 2,400 |
2024 £ 2,340 |
|---|---|---|
16. RELATED PARTY TRANSACTIONS
During the year eight trustees had their expenses met by the charity. The trustees were reimbursed for motor expenses, repairs and maintenance, Regetta costs and sundry expenses paid on behalf of the charity. The total amount reimbursed was £2,985. There were no disclosable related party transactions in 2025.