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REGISTERED COMPANY NUMBER: 06516594 (England and Wales)
REGISTERED CHARITY NUMBER: 1146611















REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

WARGRAVE AND SHIPLAKE REGATTA LIMITED

WARGRAVE AND SHIPLAKE REGATTA LIMITED






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Report of the Trustees 1 to 5

Independent Examiner's Report 6

Statement of Financial Activities 7

Balance Sheet 8 to 9

Notes to the Financial Statements 10 to 15

WARGRAVE AND SHIPLAKE REGATTA LIMITED (REGISTERED NUMBER: 06516594)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023


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 31 December 2023. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The objective of the charity is to promote community participation in healthy recreation for the benefit of the
public by the provision of tradition Thames river craft, equipment and resources to enable people to learn
how to row, scull, punt and / or paddle and to practice these skills and to hold an annual regatta.

Significant activities
The charity annually organises the Wargrave and Shiplake Regatta as a means to promote its objectives and to generate funds for the ongoing maintenance and replacement of its fleet of boats.


WARGRAVE AND SHIPLAKE REGATTA LIMITED (REGISTERED NUMBER: 06516594)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023

ACHIEVEMENT AND PERFORMANCE
Charitable activities
The object of the Charity is the promotion of community participation in healthy recreation for the benefit of the public by the provision of traditional Thames River craft, equipment and resources to enable people to learn how to row, skull, punt and / or paddle and to practice these skills and to hold a regatta.

I am pleased to report that in 2023, despite the poor weather, we were able to hold both our training sessions and our annual regatta again. We held two successful training sessions for all disciplines (sculling, punting and paddling) which attracted over 100 participants.

Our annual regatta was held on the 4th and 5th August, which was a successful event with lots of close racing and considerable skill on show, proving that the use of traditional boats is continuing to thrive. Entries numbers were up 7% leading to income from entries increasing from £10,822 in 2022 to £12,650 in 2023. But wet weather on both days lead to a decrease in on the day car park and gate entry income, which combined fell from £14,581 in 2022 to £9,316 in 2023.

There was an increase in the number of crews taking part with 424 (2022: 397 crews); this increase was expected due to low numbers in 2022 due to the two-year absence and in the impact, this had on junior competitors. Entries are still below 2017, 2018 and 2019 levels and the committee are focussed on increasing awareness for the regatta within the local community and in particular schools and clubs to help drive further participation in 2024.


The full entries were split as follows:

Analysis of crews20172018201920222023
No.No.No.No.No.
Adult314281269228239
Veterans4131402927
Junior147147166104129
Scratch3636363629
538495511397424


Dongola crews included above20172018201920222023
No.No.No.No.No.
Adult4431262635
Veterans1181055
Junior3136382133
Scratch3636363629
Family event291214107
15112312498109


WARGRAVE AND SHIPLAKE REGATTA LIMITED (REGISTERED NUMBER: 06516594)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023

The open swim event was held before the start of the regatta on the Saturday and this also suffered due to the wet weather. This year there were 84 swimmers compared to 116 in 2022. The 1K event had 38 entrants (vs 40 in 2022); the 2K event had 34 (vs 48 in 2022), the junior event had 6 (vs 8 in 2022); and the GIFT had 6 (vs 20 in 2022). This lead to the contribution to the charity falling from £1,545 in 2022 to £768 in 2023. The focus for 2024 is to further promote the swim and encourage more swimmers to sign up within the main regatta entries.

The regatta has continued to experience large inflationary pressure on its expenditure with the largest costs relating to the enclosure seeing great than 10% cost increases.

The regatta held a fantastic bingo and disco night on the 25th February 2023 that brought together 106 individuals in support of our cause. I am thrilled to announce that thanks to the generosity of these supporters the event raised £6,405 for the charity. This helped to offset our lost income due to the weather and our increase expenditure due to inflation. Overall the regatta has reduced its net expenditure from £12,211 in 2022 to £2,086 in 2023.

There were no major safety events to report.

Fundraising activities
The charity aims to raise income from the holding of the regatta, donations and various fund-raising events. In addition to the Bingo event the charity relies heavily on its subscribers and "150 club" members.

The number of people who donated decreased to 124 compared to 136 in 2022 and the average amount given increased, to £136 from £99 due to a one of significant donation. This was supplemented by the ability of the charitable status allowing the regatta to reclaim £3,222 of gift aid (2022: 4,973).

The "150 club" which was established to help build up a fund for major boat repairs and additions, is aimed at encouraging people to "subscribe" at a rate of £15 per quarter by standing order. There is then a draw for three prizes on a quarterly basis. The "150 club" has generated an income of £2,820 (2022: £2,760) which means that we now hold a fund £23,084 (2020: £20,297) for boat replacements. This is an excellent effort albeit the number of members of the "club" has remained a little lower than would be liked. It is hoped that this will continue to grow and help to fund future works that will be required on the boats.


WARGRAVE AND SHIPLAKE REGATTA LIMITED (REGISTERED NUMBER: 06516594)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023

FINANCIAL REVIEW
Reserves policy
The calculation of the required level of reserves is an integral part of the charity's planning and forecast cycle. It takes into account:

- Risks associated with each stream of income and the expenditure being different from that budgeted;
- Planned activity levels; and
- Known commitments, outside the normal course of running the charity.

The trustees have set a reserves policy which requires funds to be maintained at a level which ensures that the charity can maintain its running of the regatta for at least a twelve month period and have sufficient funds available to carry out repairs and general maintenance to its fleet of boats. A proportion of reserves must be maintained in a readily realisable form.

In December 2012, the trustees agreed that the general reserves should not be allowed to drop below £5,000 and the boat reserve should be maintained at £10,000 for the regular maintenance and repair of the fleet. It was also agreed that the boat reserve should establish a replacement fund so that the fleet may be updated, if possible on a rolling five year programme. The target of the boat replacement fund is £20,000 which represents the cost of three new dongolas. The cost of purchasing two new skiffs is £40,000 and the setting aside of funds for this target would follow on from the replacement of the dongolas.

FUTURE PLANS
It is fully intended to hold a Regatta in 2024 with The Committee being focused on controlling costs, increasing spectator numbers and running a success fun regatta. There is no doubt that there is support and a strong local appetite for the event but we are aware of the impact the current economic environment is having on the community and disposable income.

The fleet of boats is in good repair and the maintenance programme, initiated in 2015, means that we continue to upgrade and improve the fleet as the finances allow.

The board is of the view that there is continuing enthusiasm for the works of the charity and the use of the gift aid scheme will continue to help the charity raise funds.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment, appointment and induction of new trustees
Trustees are carefully selected for their knowledge and experience of charitable organisations. New trustees are elected at the Annual General Meeting. Newly appointed trustees are inducted to the work of the charity by the chairman and provided with all information required to fulfil their role as trustees in accordance with the deed of trust and the Charities Act 2011. A trustee may retire voluntarily.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
06516594 (England and Wales)

Registered Charity number
1146611


WARGRAVE AND SHIPLAKE REGATTA LIMITED (REGISTERED NUMBER: 06516594)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023

Registered office
5th Floor
Thames Tower
Station Road
Reading
Berkshire
RG1 1LX

Trustees
G C van Zwanenberg
J P D Symons (resigned 20.4.23)
J C Paddison
M D Stubbs
C Barnard (appointed 11.4.24)

Company Secretary
G C van Zwanenberg

Independent Examiner
J Pyke FCA
Vale & West
Chartered Accountants
Victoria House
26 Queen Victoria Street
Reading
Berkshire
RG1 1TG

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 17 April 2024 and signed on its behalf by:





G C van Zwanenberg - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
WARGRAVE AND SHIPLAKE REGATTA LIMITED

Independent examiner's report to the trustees of Wargrave and Shiplake Regatta Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.








J Pyke FCA

Vale & West
Chartered Accountants
Reading

17 April 2024

WARGRAVE AND SHIPLAKE REGATTA LIMITED

STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023

31.12.23 31.12.22
Unrestricted Total
funds funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 31,352 31,064

Charitable activities
Annual regatta 49,421 40,476

Investment income 2 211 19
Total 80,984 71,559

EXPENDITURE ON
Charitable activities
Annual regatta 66,694 66,351
Boat maintenance and repair 16,376 17,419
Total 83,070 83,770

NET INCOME/(EXPENDITURE) (2,086 ) (12,211 )


RECONCILIATION OF FUNDS
Total funds brought forward 147,082 159,293

TOTAL FUNDS CARRIED FORWARD 144,996 147,082

WARGRAVE AND SHIPLAKE REGATTA LIMITED (REGISTERED NUMBER: 06516594)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Unrestricted Total
funds funds
Notes £    £   
FIXED ASSETS
Tangible assets 5 73,223 81,234

CURRENT ASSETS
Debtors 6 105 300
Cash at bank 77,749 73,474
77,854 73,774

CREDITORS
Amounts falling due within one year 7 (581 ) (2,426 )

NET CURRENT ASSETS 77,273 71,348

TOTAL ASSETS LESS CURRENT
LIABILITIES

150,496

152,582

CREDITORS
Amounts falling due after more than one
year

8

(5,500

)

(5,500

)

NET ASSETS 144,996 147,082
FUNDS 9
Unrestricted funds 144,996 147,082
TOTAL FUNDS 144,996 147,082

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.



WARGRAVE AND SHIPLAKE REGATTA LIMITED (REGISTERED NUMBER: 06516594)

BALANCE SHEET - continued
31 DECEMBER 2023

The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 17 April 2024 and were signed on its behalf by:





G C van Zwanenberg - Trustee

WARGRAVE AND SHIPLAKE REGATTA LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Boats and equipment - Straight line over 20 years

The assets' residual values, useful lives and depreciation method are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Company status
The charity is a company limited by guarantee. The members of the company are the trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

WARGRAVE AND SHIPLAKE REGATTA LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. INVESTMENT INCOME
31.12.23 31.12.22
£    £   
Deposit account interest 211 19

3. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.12.23 31.12.22
£    £   
Depreciation - owned assets 8,011 8,011

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.


5. TANGIBLE FIXED ASSETS
Boats and
equipment
£   
COST
At 1 January 2023 and
31 December 2023

160,220

DEPRECIATION
At 1 January 2023 78,986
Charge for year 8,011
At 31 December 2023 86,997
NET BOOK VALUE
At 31 December 2023 73,223
At 31 December 2022 81,234

The boats and equipment comprise of skiffs, punts, dongolas and dinghies. The cost of the boats acquired before 1 January 2012 is not known and for the purposes of the accounts, have been recognised at deemed cost by reference to the insured value at 31 December 2012. Additions made since that date have been valued at cost.

WARGRAVE AND SHIPLAKE REGATTA LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors - 300
Other debtors 105 -
105 300

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 581 1,500
Accruals and deferred income - 926
581 2,426

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Other creditors 4,500 4,500
Trustee loans 1,000 1,000
5,500 5,500

Other creditors and trustee loans relate to sums advanced to the charity to support the ongoing charitable activities. The loans are unsecured, carry no interest and have no set date for repayment.

9. MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.1.23 in funds funds 31.12.23
£    £    £    £   
Unrestricted funds
Regatta fund 5,000 11,470 (11,470 ) 5,000
Boat fund 142,082 (13,556 ) 11,470 139,996
147,082 (2,086 ) - 144,996
TOTAL FUNDS 147,082 (2,086 ) - 144,996

WARGRAVE AND SHIPLAKE REGATTA LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
Regatta fund 78,164 (66,694 ) 11,470
Boat fund 2,820 (16,376 ) (13,556 )
80,984 (83,070 ) (2,086 )
TOTAL FUNDS 80,984 (83,070 ) (2,086 )


Comparatives for movement in funds

Net Transfers
movement between At
At 1.1.22 in funds funds 31.12.22
£    £    £    £   
Unrestricted funds
Regatta fund 5,000 1,215 (1,215 ) 5,000
Boat fund 154,293 (13,426 ) 1,215 142,082
159,293 (12,211 ) - 147,082
TOTAL FUNDS 159,293 (12,211 ) - 147,082

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
Regatta fund 67,566 (66,351 ) 1,215
Boat fund 3,993 (17,419 ) (13,426 )
71,559 (83,770 ) (12,211 )
TOTAL FUNDS 71,559 (83,770 ) (12,211 )

WARGRAVE AND SHIPLAKE REGATTA LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Net Transfers
movement between At
At 1.1.22 in funds funds 31.12.23
£    £    £    £   
Unrestricted funds
Regatta fund 5,000 12,685 (12,685 ) 5,000
Boat fund 154,293 (26,982 ) 12,685 139,996
159,293 (14,297 ) - 144,996
TOTAL FUNDS 159,293 (14,297 ) - 144,996

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
Regatta fund 145,730 (133,045 ) 12,685
Boat fund 6,813 (33,795 ) (26,982 )
152,543 (166,840 ) (14,297 )
TOTAL FUNDS 152,543 (166,840 ) (14,297 )

The Regatta fund represents the general funds available to the charity for the organisation of the annual regatta.

The Boat fund has been designated by the trustees for the ongoing maintenance, repair and replacement of boats. The trustees envisage a boat replacement programme on a rolling five year basis as funds allow. Routine maintenance and repairs are carried out annually as required.


WARGRAVE AND SHIPLAKE REGATTA LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

10. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2023.