2024-03-31-accounts - Laburnum Boat Club

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Laburnum Boat Club

Management Committee’s Report and Accounts

For the year ended 31[st] March 2024

The Trustees, who are also Directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity, for the year ended 31st March 2024. The Trustees have adopted provisions of Charities Act 2011, the Companies Act 2006, and Account and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standards, applicable in the UK.

Public benefit statement

In shaping our objectives for the year and planning our activities, the Trustees have considered the Charity Commission’s guidance on public benefit, including the guidance on ‘public benefit: running a charity (PD2). The achievement and activities above demonstrate the public benefit arising from the Charity’s activities.

Our Purpose and Activities

Laburnum Boat Club is a small children’s charity based in Hackney, London. Our Memorandum states that:

“The objects for which the Club is established are but only so far as the same shall be deemed by law to be charitable to provide facilities in the interests of (a) the education of children and young persons through their leisure activities so as to develop their physical, mental, and spiritual capacities that they may grow to maturity as individuals: and (b) the relief of the disabled.”

Our mission, is to provide opportunities for the personal development of young people and their families, in the local community through participation in a range of water-based activities. We aim to be a positive force for changing lives in a safe and supportive environment.

To achieve this, Laburnum provides a range of Clubs and services, that are open 7days a week, throughout the year, aiming to meet the needs of the local community. We target disadvantaged, disabled and vulnerable young people and provide not only a constant adult in their ever changing lives, but challenging, exciting and rewarding activities in a safe, affordable, accessible, and inclusive environment.

We provide a holistic youth work approach, with advice, guidance and support delivered through paddlesports, rock climbing, narrowboating, day trips and residentials. We work with local young people and their families as well as youth, community and welfare organisations.

Achievement and Performance

2023 was our busiest year on record, with over 7,000 visits by young people
The Youth Club had over 2,800 visits and engaged with over 320 young people aged 9-18, delivering a full programme of after-school, weekend and school holiday activities, day trips and residentials
Our Inclusion Project encouraged and enabled over 550 visits by young people with disabilities to take part fully in our activities
We delivered 17 National Governing Body qualification courses for young people, creating opportunities to acquire new skills, to continue their education and leading to qualifications and employment, ranging from First Aid to Paddle UK Coach qualifications and Royal Yachting Association Inland helms courses
We worked with 22 different local Schools, providing activities, introducing hundreds of children to our services
Addition services to meet immediate need over the year include starting a new, free Breakfast Club, and a new Girls Group, running a Free School Meals programme and developing a Transition Project to support the move from primary to secondary school
The Club maintained its funding levels through the year, working with Trusts and Charities to adapt projects and services as needed and delivering fee paying and private sessions to generated additional income
We developed plans to redevelop our site, including installing solar panels and heat pumps to reduce our carbon footprint

Financial Review

The statement of Financial Activities shows a net surplus for the year of £10,720 (2022-23 surplus of £22,148; 2021-22 loss of £12,630) and total reserves stand at £173,831 (2022-23 £163,111; 2021-22 £138,966). The Trustees are happy that this represents a strong and stable financial position, as laid out in more detail in the accounts.

Reserves Policy

The Trustees consider it prudent to maintain an adequate level of unrestricted reserves to cover unforeseen occurrences, provide sufficient working capital and cover an orderly winding down of contractual commitments, should this be necessary. This has been set at a minimum of 3 months operation costs plus an additional sum to cover redundancy payments.

Principle Funding Sources

The Club’s activities are made possible through funding from Trusts, Charities, central and local government sources. Laburnum Boat Club’s principle funding course in this period were:

London Borough of Hackney (Connecting Young Hackney)
UBS Community Affairs
BBC Children in Need
The Jack Petchey Foundation
Greater London Authority (Future Ready Fund)
Income from Schools, Subscriptions (from members and activities), donations and fundraising activities (including 20 runners in the Hackney Half Marathon)

Future Plans

Over the next year, the Trustees will continue to review the Club’s services and facilities to ensure that it is able to meet current needs and plan for the future. In particular: start the building work on the Club Hut, to ensure that it meets the needs of our users; install solar panels and an air source heat pump to

reduce our carbon foot print and continue to explore the opportunities for increasing earned income to increase our funding base.

LABURNUM BOAT CLUB REPORTING ACCOUNTANTS REPORT FOR THE YEAR ENDED 31ST MARCH 2024 The company has taken advantage of preparing unaudited accounts for the year ended 31 sl March 2024 in accordance with the Companies Act 2006. RESPECTIVE RESPONSIBILITIES OF DIRECTORS AND REPORTING ACCOUNTANTS. The compsny's directors are responsible for the preparation of financial statements. Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the stale of affairs of the company and the profit and loss of the company for that period. In preparing these financial statements the directors are required lo.. select suitable accounting policies and then apply them consistently.. make judgements and estimates that are reasonable and prudent.. prepare the financial statements on the going concern basis, unless it is inappropriate to presume that the company will continue in operation. The directors are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any lime the financial position of the company, lo enable them to ensure that the financial slalements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. BASIS OF OPINION We planned and performed our review of the books of account so as lo obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence lo give reasonable assurance that the financial slalemenls are free from material misstatement, whether caused by fraud or other irregularity or error. In forming our opinion, we also evaluated the overall adequacy of the presentation of information in the financial stalemenls. OPINION In our opinion the financial statements give a true and fair view of the state of the company's affairs as at 31 st March 2024, and of ils profit for the year then ended, and have been properly prepared in accordance with the provisions of the Companies Act 2006 applicable lo small companies. Reporting Accountants 72 Clarence Road London N22 8PW Dated 25th October 2024. 1of6

LABURNUM BOAT CLUB STATEMENTS OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 ST MARCH 2024 2024 2023 Restricted Unrestricted Funds Funds Rest"icled Funas Unrestricted Funds INCOMING RESOURCES Grants 278,583 269.332 Donations 6,392 7,109 Bank Interest 3,174 928 Redevelopment Fundraislng 11,226 Other 86,050 80,657 TOTAL INCOMING RESOURCES 278 $83 106 842 269 332 RESOURCES EXPENDED Direct Charltable Expenses Fund RaisinglPubll¢ity ManagemenUAdminlstratSon 268,499 244,492 TOTAL RESOURCES EXPENDED 296 999 271 992 NET INCOMING RESOURCES -18,416 29,136 -2,660 24,808 Fund Balance 1.4.2023 -63,849 226,960 -61,189 202,152 Fund Balance 31.3,2024 256 096 -63 849 226 960 2of6

LABURNUM BOAT CLUB BALANCE SHEET 31ST MARCH 2024 2024 2023 CURRENT ASSETS Pre ments Debtors Cash in Hand Cash at Bank 2,933 7,128 3,155 16,540 461 261 172 281328 237 192 247 253 CURRENT LIABILITIES Creditors Restricted Grants Restricted Income 6,779 64,095 6,230 103,067 NET CURRENT ASSETS 173 831 118217 16 TOTAL ASSETS LESS CURRENT LIABILITIES 173 831 163 111 Flnanced b Restrlcted Funds Unrestrlcted Funds -82.265 256 096 -63,849 226 960 173 831 163111 For the year ended 31st March 2024 the company was entitled to exemptlon from audlt undèr sectlon 477 of the Companles Act 2006 relating to small companles. Dlrector's Responslbllltles: The members have not requlred the company to obtain an audit of Its accounts for the period In question In accordance wlth sectlon 476, The directors acknowledge thelr responslbillties for complying with the requlrements of the act wlth respect to accountlng records and the preparation of accounts. These accounts have been prepared In accordance wlth the provlsions appllcable to companies subJect to the small companies. reglme. 13 LJoVl>746f These accounts were approved by the Trustees on ast 2024. and signed behalf by. 3of6

LABURNUM BOAT CLUB SCHEDULE OF INCOME 2024 FOR THE YEAR ENDED 31ST MARCH 2024 2023 Restricted Unrestricted Restricted INCOME Funds Funds Unrestricted REFERENCE Funds LBH-Connecling Young Hackney LBH-Sports Development LBH-Short Breaks LBH--Warm Spaces LBH-Supporting Young People and Families with Vaccination Hackney Youlh-opportunities Fund City Bridge (Access Audit) GVC-Ladbrokes-LCF GLA (Future Ready Fund) UBS Community Affairs Semble Network Grant Clarion Housing HAF Programme UK Youth North London Waste Authority Sociele Generale UK Fund TFL-Cycling for all {WCG) CVC Ltd Youth Juslice-slreelgames Community Ownership Fund PLA- Active Thames Fund Power lo Change-Pawering Up LCF-Broadgale Community Fund London Marathon Community Tfust Ironmongers British Canoeing (Stronger Together) Slreelgames (Us Girls) LY CVC Summer Grant NLCF Reaching Communities London Youlh-ICVC-Summer Yes Foundation (Youth Experience) Yes Foundation Charily-Anglo Shipping CHUG BBC-Children In Need Jack Pelchey Award Jack Pelchey (Internship) East End Giving Redevelopment Fundraising Other Income Schools Income Paddleboard & Narrow Boat Bookings Subscriptions Fundraising Donations Bsnk Deposit Interesl 65,000 250 1,160 65,000 30 14 1,464 3.432 6,592 4,566 4,055 28 6,266 22,213 44.065 12 39,469 450 5,824 3,670 4,000 5,537 6,322 8,580 3,000 4,281 9,043 15 23 7,000 2,639 20 19,705 300 5,365 7,000 29 5.292 1,000 17,611 27.567 6,391 10 5,513 7,000 2,000 3,940 8,850 13 22 16 21 3,925 3,036 17 13,059 1,080 21,050 4.200 23,196 8,547 19 21,550 5,060 1.800 26 18 11,226 9.278 23,283 23,947 16,912 12,630 6,392 6,717 36,755 16,941 20,244 7.109 928 4of6 278 583 106 842 269 332

LABURNUM BOAT CLUB INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2024 2024 Restricted Unrestricted 2023 Funds Restricted Funds Funds Unrestricted Funds INCOME As per attached Schedule 278,583 106,842 269,332 88,694 Less: EXPENDITURE SalarieslNalional Insurance Pension Contributions Staff Costs Fees Prinling/PostagelSlalionery Telephonellnlernet Transport Costs Boat Licenceslmoorings Rates and Water Rates 258,748 18,000 12,245 221,886 17,000 9.829 2,158 8.576 1,269 1,774 966 1,306 4.531 2,426 3,491 2.252 469 1,182 Insurance RepairslRenewals BuildingslEquipment Boats-RepairslRenewalslCosls Architect and Surveyors Fees Activity Expenses HeaULighllPower Accountancy 4,652 3.833 2,822 4.111 6,865 3,592 27,306 7.560 23,639 2,093 1,250 2,265 1,250 Subscriptions Bank ChargeslPayPal fees T-shirts Training Courses Book-Keeping Software Sundries Cleaning Computer Expenses Advertising/Publicily Redevelopment Costs Depreciation-writlen off Computer Equipment and Office Equipment Equipment 836 777 568 1,876 813 383 6,462 1,725 643 880 165 4,488 140 689 6,225 937 1,556 15,581 81 194 LosslAdjustment on boats Equipment, general TOTAL EXPENDITURE 296 999 271 992 EXCESS OF INCOME OVER EXPENDITURE 5of6

LA8URNUM BOAT CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ST MARCH 2024 1. Accountin Policles a. These financial statements have been prepared in accordance with applicable accounting standards and follow recommendations in the statement of recommended Praclise Accounting for Charities. b. Grants are recognised in the statement of financial activities when they become due, if from local authorities. Other grants and donations, including those for the purpose of fixed assets, are recognised in the statement of financial aclivilies when they are received, unless they relate to specific future period in which case they are included in creditors until the new period commences, al which time they are transferred lo the slatemenl of financial activities. d. Restricted funds are to be used for specific purposes as prescribed by the donor. Expenditure that meets this criteria is charged in the relevant restricted fund. e. Unrestricted funds are the balance of unexpended income received or generated for the objects of the charity wilhoul further specific purpose and are available as general funds. f. Fixed assets in the form of furniture, equipment or motor vehicles are capilalised and depreciated as rates applicable to write off the cost of such assets over their eslimaled useful lives. Fixed assets have been written off this year. 2. Flxed Assets Equipment is written off each year. 3. Debtors Credlt Card Grants 1,819 4. Credltors Amounts falling due within one year.. Accountancy Other PAYE 1,250 994 6of6