ids. Company Registration No. N1045083 (Northern Ireland) chartered occountants THE COLERAINE OLD BOYS, ROWING ASSOCIATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londondery BT52 1 BG
THE COLERAINE OLD BOYS, ROWING ASSOCIATION ids. chartered accountants CONTENTS Page Legal and administrative inforff..atiop. TrusLees' report, Independent examinerfs report Statement of financial actlVlLies Balance sheet Les to the financial slalements 8-11
THE COLERAINE OLD BOYS, ROWING ASSOCIATION ids. chartered accountants LEGAL AND ADMINISTRATIVE INFORMATION Trustees C McBurney R Co-hrane M McMLJllan J Gibson Dalzell AAnderson C Campbell (Appointed 19 December 20221 (Appointea 21 December 20231 Secretary C McBurney Charity number NIC104834 Company number Ni J45a83 Registered off ice 135 Ballymena Road DOAGH Ballyclare BT39 OTN, Independent examlner IDS chart.ered Accounlanls LLP 23125 QJeon Street COLERAINE Co Londonderry BT52 1 BG Bankers Santander 21 Presco: Street LONDON E18AD
THE COLERAINE OLD BOYS, ROWING ASSOCIATION ids. chartered accountants TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 JUNE 2023 The Trustees, who are also directors for the purposes of company law. have pleasure in presenting theii report and accounts fgr the year ended 30 June 2023. The accounts have been prepared in accordance with the accounting policies set out in note to the accounts and comply with the company's governing dccumenl. the Companies Act 2006 and "Accounting and Report ng by Charities.. Slalemenl of Recommended Practice applicable to charities preparing thei:. aoUNtS in accordance with the Financial Reporting Standard ajplicable in the UK and Republic of Ireland IFRS 1021 leffectve 1 January 2015). Objectives and activities Siimmary ol objectives as sel oiil in governing document The Company's objects are lo promote the physical education, development, health and wellbeing of pupils al Coleraine Grammar S-nool, and other persons who have had or have a connection with Coleraine Gramtnar School or ils legacy schools by the organisation andlor provision of equipment. facilities, funding and advice for "owing gxplar?ali017 of aims inclciding cliai?ges il seeks to make Ihrough ils activities The stra'egic aims of the Coleffiine Old Boys Rowing Associa:,'on are.. To provide and equip prem.'sss arid centres required for the purposes of the Company-, To publish and distribute materials relating to the work of the Company, and To raise funds for the objectives of the com.paiy by public subscription and appeals provided the Company shall not undertake any form of permanent t,'ading Explanation of rnain objectives for the year and slrategies for achieving tliem & details of sigi?ific3nl activities for achieving objectives The main objective for the year was to coitinJe viith our long-teim fundraising campaign for new equipment A total of £14,533 was raised during the year from grants, donations, fundrais'ng. member5hiJ fees, our annual dinner and mercha,Idise sales_ Major mileslJnes bijere acl.eved in purchasing a Janousek double scull and committing to purchase a Janousek eight (cieposit paid) far school Rowing Club. Statement of corTFpliance wi117 ChariÈy Comn3ission guidance The Trustees have paid due regard to guidance issued by tle Charity Commission in deciding what activities the company should undertake. Explanation of significant use of volunteers in ils charitable or ii?coine generaling activities The Directors of the charity are all volunteers in their roles and give freely their lime in attending and preparing for Board meetings as well as supporting Coleraine Old Boys Rowing Association in the objectives it pursues. In addition certain fundraising events such as barbeques or table quizzes are only possible with the support of volunteers from our memoers. Achievements and rforManCe Review of ch3fltable activities explaining performance again51 objectives The statement of financial activities for the year is set out on page 6 of the financial statetyents. Given the slraightfanvard nalure of the company, the compap.y's Direntors are of the opinion that analysis using KPI'S is r..ol necessary for an understanding of the deve'opmen,. performan- -e or p?SlLion of the company,
THE COLERAINE OLD BOYS, ROWING ASSOCIATION ids. charteted accountants TRUSTEES, REPORT {CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 JUNE 2023 R&view ol funclraising activities During the year to 30 June 2023 Coleraine Old Boy5 Rowing Association raised an amount of £14,533 from grants, donations, fdr¥Jraising, membership fees. our annual dinner and merchandise sales. Review of inveslnientperformance againsl Objectie$ Due to the nature and size of the company no investmeit objective has been sel by the directors. Financial review Details of results for the year are sel out on page 6 in the Statement of Financial Activities. Policy on reserves The Charity's policy is lo retain a level of free re5erye5, be,'ng fu.nds not raised for a specifir fundraising target, ar.d should represeit cl least 12 months adminis::ation costs_ At this level. the Trustees are of the view that Ine corripany would be able to continue rts activities 1,1 the event of a significant drop in funding. The level of unrestricled reseriies held at the year ended 30 June 2023 is £1.OOC. The Charity wil continue to monitor compliance with this policy on a regu,'ar basis and the Board will review Ihe appropriateness of the policy annually. Fu17ds in deficit No funds are in deficit. Principle funding sources are from annual membership fee5 and donations. Expenditure on the charity's annual dinner and printing cost of fundraising ma,:erials and annJal rtewislet+ier has helped to support key objectives by raising the profile o! the need lo develop a Boat Replace enl Strategy and Ine spe- fic largels set to raise funds to purchase new rowing boats for Coleraiie Grammar School. Investn7ent policy and objectives Due lo the nature and size ofthe company no investment objective has been set by the directors. The Trustees have overall responsibility for ensuring that there is an appropriate sys'em of internal controls and that it complies with relevant laws and regulations. Vwiere appi ODriate, systems or procedures have been established to mitigate the risks Ihe charity fa-es. Internal control risks are minimised by the implementation of procedures for aulhorisation of all transactions. Explanation of aims and key objectives and delails of planned activities Coleraine Old Bays Rowiiyg Association aims and eY objectives for the forthcomTng year is to continue the current long-term fundrais.ng campaign with the aim of purch2ii.yg new capital equipment for the school rowng club. Having purchased a double scull this year aid paid the deposit on an eiglt. we will complete the purchase of the eight next year. It is also planned to hold the organisalion's annual dinner and rowing race in E)ecember. Structure, governance and management Nature of goveriiir7g documeiit ai?d how the charity is conslituled The Coleraine Old Boys Rowing Association is a charitable company limited by guarantee. It is governed by Its Memorandum and Articles ofAssociation.
THE COLERAINE OLD BOYS, ROWING ASSOCIATION ids. churtered occountants TRUSTEES, REPORT {CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 30 JUNE 2023 Lisl of membeis The TrLlStees, Ivho are also the directors for the purpose of company law, and who served during the year were.. P Hamill (Resigned 18 October 2022} A Humphrey (Resigned 27 December 20231 C McBurney R Cochrane I V,-Mullan J Gibson < Dalzell AAnderson Campbell {Appointed 19 December 2022) {Aupointed 27 DecemDer 20231 roelhods, policies and procedures lor recrijilment, appoiiilmenl. induction and traiiiing of ilew trustees The directors of the company are also char'.ty ""usloes for the purpose) of cnarity law. At every Ar,nual General Ibqeeting, one-thiid of l..ie Directors wb.o are subject te retirement by rola::ion or, if their nutr.ber is not three or a multiple of three, number nearest lo one-third shall rotire from office. The Directors to reti-e by rolalion shall be those vjho have been longeql in office since their las.. 4ipointment or reappoir.tment. but as between persons vlho becanie or were last reappointed directors on the same day those to retire shall (unless they otherwise 3gree among I,emselves) be determined by Igt If ltr..e Company, at the meeting al whicl a director retires by rotation, does not fill the vacancy the retiring director shal., if willing to act, be deemed to have been reappointed unless at the meeting it is resolved not to fill the vacancy or unless a resolution for the reappointment of tTr director is put lo the neeling and lost. No person other th3n a director ret':ring by rotation shall be appointed or reappointed a director at any general meeting Linless he is recommended by I.e Directors., or no,: less than fourteen nor more than Ihirty-five clear days before the dale appointed '.or the meeting.. noti executed by a member qualified to vole at the meeting has been given to the Company of the inte.Ilion lo propose that person for appointment or reappoinlmenl stating the part'.culars which would, if he were so appointed or reappointed be required to be includea in the Company's reg'ster of directors together with notice executed by that person of his willingness to be appoiiled or reappointed. All members have lo be approved by the Directors ofthe c,a..1tY Organisational striicture and hOV decisioi?s are made Coleraine Old Boys Rowing Association has a Board of Dire-tors of a tr,inimum offour members who meet al least three times per year and are respa,Tr51ble lor tne well being and management of the Coleraine Old Boys Rowing Association on a day to day basis At present the Committee has seven members from a variety of professional backgrounds. Any significant decisions regarding the Charity are made at Board meetings. Relationship between Gharity and related parties The charity has no related parties. The Trustees, report was approved by the Board of Trustees C McBurn Director Dated.. 8 February 2024
THE COLERAINE OLD BOYS, ROWING ASSOCIATION ids. churtered accountants INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE COLERAINE OLD BOYS, ROWING ASSOCIATION report lo the Tfuslees on my examinalior. of the financial statements of The Coleraine Old Boys, Rowing Association Ilhe company) for the year ended 30 June 2023. Responsibilities and basis of report As the Trustees of the company land also ilt oireOrS for the purposes of company lawl you ale responsible for the preparation of the financial statements in accordance w-ikn the requirements of the Companies Act 20Cb (the 2006 Acll Having satisfied myself that the Iinancial statements of the company are not required to be audited Ljnder Part 16 of the 2006 Act and are eligible for independent exami.iation. I report iri respect of w,y examination of the company's f.:nanci81 slalemen15 carried out under se" -lion ?5 of I&e Charities Act INo,lern Ireland) 2008 {Ihe 2008 Acll In ca.'riing out my examination I have followed a':1 the appIable Direct gis given by the Charity Commission undr section 6519llbl of the 2008 Act. Independent examiner's statement I have completed my examisialion. I cop.firm that no mat:ers have come to my attention in connection with the examination giving me cause to believe Iha-. In any material respect. accounting records were not kept in respect of the c(NMpany as required by section 386 of the 2006 Act, or the financial slalemenls do not accord witk. those records", or the fir.ancial statements do not comply b'.'Ilh the a-cour,ting reauiremenls of section 396 of the 2006 Act othor tnan any requirement that the acco.jnls give a trije and fair v.ebii ¥iih.'ch is not a nialler considered as part of a independent examination- or the financial slalemenls have not been prepared in acccrdance with the methods and principles of the S:atemenl of Recommended P,"a-tice for ac-ountiig and reporting by charities applicable to charities preparing their accounts in accordaTce 11 n the Finap.cial Repoting Standard applicable In the UK aThJ Republic of Ireland IFRS 102). I have no concerns and have come across no cther matters in conieclioJ with the examination lo which allenlion should be drawn in this report in order to enable a proper understanding of the Iinancial slalements to be reached. IDS Chartered Accountants LLP 23125 Queen Stree: COLERAINE Co Londonderry BT52 1 BG Dated. 8 February 2.J24
THE COLERAINE OLD BOYS. ROWING ASSOCIATION ids. chaheyed accountants STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2023 Unrestricted Restricted funds funds 2023 2023 Total Unrestricted Restricted funds funds 2022 2022 Total 2023 2022 Notes Dor,alions and gifts Charitable activities 9.812 4,721 350 350 3,564 4,721 3,564 Total incorne 9.812 14,533 3,564 350 3,914 Charitable activities Purchase of equipment 685 685 1C.916 55 55 10,916 Total resources expended 685 11,601 55 55 Net incomingl loutgoingl resources before transfers 4036 (1.104) 2,932 3,509 350 3,859 Gross transfers between funds {4 0361 4.036 {3,5091 3.509 Net income for the yearl Net movement in funds 2,932 2,932 3,859 3,859 Fund balances at 1 July 2022 1,000 24,805 1,000 19,946 20,946 Fund balances at 30 June 2023 1,000 26,737 27,737 1,000 23,805 24,805 The slalement of financial activities includes all gains and losses recognised in the year. All income and expena..ture derive from continuing activities. The statement of finan.ial activities also complies with the requirements for an income and expenditUFe account under the CompaniesAct 2006.
THE COLERAINE OLD BOYS. ROWING ASSOCIATION ids. chartered accountants BALANCE SHEET ASAT 30 JUNE 2023 2023 2022 Notes Current assets Debtors Cash at bank and in hand 4920 22.817 24,805 27,737 24,805 Net current assets 27,737 24,805 Income funds Restricted funds Unrestricted funds 26,737 1,000 23,805 1,000 27,737 24,805 Th.e cow,pany is enlitlea to the exemption from the audit requirement contained iiy sectioi 477 of the Conipanies A"1 2006, for the year ended 30 June 2023 The direc*ors acknowledge their responsibilities for complying w.:th the requirements of the Corripanies Act 2006 with respect lo accouniing ,'ecords and the prepa."atioY of ..Inancial sta;emeTLS. The members have not required the company to obtair. an audii o! ils Iinancial statements for tne year in question in accordance with Section 476. These financial statements have been prepared in accoraance with the provisions applicable lo companies subject lo the small compa.iie< regime. The fir)ancial statements were approved by the Trustees on 8 February 2024 C McBurney Trustee J Gibson Trustee Company registration number N1045083
THE COLERAINE OLD BOYS, ROWING ASSOCIATION ids. chatted accountants NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Accounting policies C harity information The Ccleraine Oli-l Boys, Rowing Associa',ion is a private coypany limited by guarantee incorporated in Northorn Irelard. The registered office is 135 Ba."ymeYa Road, DOAGFt, Ballyclare, BT39 OTN. 1.1 Accouiiting convention The financial ¢laLernenls have been prepared in accordance with the corv.pany's governing document, the Compar,ies Act 2006 and "Accounting ar,d Reportir.g bij Charities_ Sta emenl of Recommended Practice appjicable lo charities preparing their accounts in accardance with the Financial Reporting Standard apDlicable ip the UK and Republic o! Irelaid (FRS 1021" las amended for a-cour,tiYg periods commencing from l January 2016). The company is a PuDiiC Benefil Entity as defip.ed bs FRS 102. The company has taKen advantage of the p"ovisions in the SORP for charities applying FRS 102 Update BJlletin 1 not to prepare a Statement of Cash Flokvs. The financial slalements are prepared in sterling, which is the functional currency of the company. Monetary a.voJnls in these finan-ial statements are roundrd to the nearast £. The accounts have been p-. epa-.ed under the historical cos; convention. The principal accounting policies adopted are set JJI belovj. 1.2 Going concern The a-counls have been prepared on the assumption that the CopanY is able to carry on business as a going concern. 1.3 Charitable funds Unreslricled funds are availabFe for use at 'he oiscreliop, of the TrL's+ees in furtherance of their charitable objectives. Restricted funds are sdbject to specific conditioD.s by donors as to hobv they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statenents. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the company. 1.4 Incoming resources Income is recognised kvhen Ihe company is legally enlitled lo il afttsr aryy performance conciitions have been mel, the amounts can be measured reliably, and il is probable that income will be received. ash donations are recognised on receipt. Other donalions are recognised once the company has been notified of the donation, unless performance cona""'tiois require deferral of the amount. Income lax recoverable n relation to donations received under Gift A:,d or deeds of covenant is recognised at the time of the donaiion Lega-le5 are recognised or. receip:. or othetwise if the company has been notified of an impending distribution, the amo.Jn'. is known, and receipt is expected. If the amount is not known, the legacy is Ire31ed as a contingent asseL. All expenditure is accounted for on an accrdals basis and has been classified under headings that aggregate all costs related to the category Vvhere costs canno* be directly alt."ibuted to particular heaoiygs they have been allocated to activities on a oasis consisten.t witn the use of the resources. Fund-raising costs are those incurred in seeking volup.tary con+ributions and do not include the costs of isseminaling information in support of the charitable actiyilias. Adminis:ration costs are those incurred in -onnection with aaministratiop. of the charity ano compliaYce with constitutional and statutory requirements.
THE COLERAINE OLD BOYS, ROWING ASSOCIATION ids. chaftered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 Accounting policies IContinued} 1.5 Cash and cash equivalents Cash and cash eqdivaleri s Include cash li hand. deposi ts freld al call with banks, other short-term liquid investments with original niaturiijns of three months or less. and baIi< overdrafts. Bank overdrafts are shown with,In borrowings in current liab lil'.es. Basic financial assets Bas'c finan-ial assets. which include deb.ors and casb. and bank Dalan-es, are Initially measured at transaction price ip,clJding transaclio,I costs aY- are subseqdently carried al arr.ortised cost using the effective interest method ullles5 the arraicement consiilutes a Tinancing tran5aciion, where the transaction is easured at the present value cf the future receipts discounted at a market rate of ir,teresl. Fiiyancial assets classified as receivable witnin one year are not arp.ortised. Basic financial liabilities Basic financial liabilities. Iricluding creditors and bank loans are initially recognised at transaction price unless the arrangement corislilutes a financing transaction, where the dÉJbt instrument is measu": ed al the preseil value of the fJlure payments discoJnlea at a market rate o! interest. Financial liabilities classified as payable JILhin one year are not amortised. Donations and gifts Restricted Restricted funds funds 2023 2022 Donations an.d gifts 350 Charitable activities Membership fees Annual dinner Total Total 2023 2023 2023 2022 Charitable income 4.038 683 4,721 3,564 Charitable activities Annual dinner 2023 Merchandise 2023 Total 2023 Total 2022 Charitable expenditure S5 620 685 55
THE COLERAINE OLD BOYS, ROWING ASSOCIATION ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 Trustees None of the Trustees lor any persons connected with them) received any remuneration during the year. Employees The average mont,1Y number of employees during the year was= 2023 Niimber 2022 Number Total Debtors 2023 2022 Amounts falling due within one year: Prepayments and accrued income 4,920 Restricted funds The income funos of the charity inciJde restricted funds comprising the following unexpended balanS of donations and grants held on trust for specific purposes.. Movement in funds Gross Transfers transfers betwee funds Movement in funds Gross Resources Transfers transfer5 expended between funds Balance at 1 July 2021 Balance at 1 July 2022 Balance al 30 June 2023 Restricted fLJnding 19,946 3,509 350 23.805 4,036 {10,9161 9,812 26,737 Analysis of net assets between funds Unrestricted Restricted funds funds 2023 2023 Total Unrestricted Restricted funds funds 2022 2022 Total 2023 2022 Fund balances at 30 June 2023 are represented by. Current assetsl(liabililies) 1,000 26,737 27.737 1.000 23,805 24,805 1,000 26.737 27,737 1,000 23,805 24,805 10-
THE COLERAINE OLD BOYS, ROWING ASSOCIATION ids. churtereu accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 10 Related party transactions There were no disclosai,'e related party transactions during the year (2022 none) 11