PENGWERN BOAT CLUB CIC

Company limited by guarantee

Company Registration Number:
14933847 (England and Wales)

Unaudited statutory accounts for the year ended 30 June 2024

Period of accounts

Start date: 13 June 2023

End date: 30 June 2024

PENGWERN BOAT CLUB CIC

Contents of the Financial Statements

for the Period Ended 30 June 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

PENGWERN BOAT CLUB CIC

Directors' report period ended 30 June 2024

The directors present their report with the financial statements of the company for the period ended 30 June 2024

Directors

The directors shown below have held office during the whole of the period from
13 June 2023 to 30 June 2024

Simon Timothy Banks
Helen Margaret Watkinson
Richard Frederick Barnes


The director shown below has held office during the period of
12 July 2023 to 30 June 2024

Seth Walker


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
31 October 2024

And signed on behalf of the board by:
Name: Helen Margaret Watkinson
Status: Director

PENGWERN BOAT CLUB CIC

Profit And Loss Account

for the Period Ended 30 June 2024

13 months to 30 June 2024


£
Turnover: 86,838
Cost of sales: ( 11,591 )
Gross profit(or loss): 75,247
Distribution costs: 0
Administrative expenses: ( 68,548 )
Other operating income: 0
Operating profit(or loss): 6,699
Interest receivable and similar income: 3,009
Interest payable and similar charges: 0
Profit(or loss) before tax: 9,708
Tax: ( 572 )
Profit(or loss) for the financial year: 9,136

PENGWERN BOAT CLUB CIC

Balance sheet

As at 30 June 2024

Notes 13 months to 30 June 2024


£
Fixed assets
Intangible assets:   0
Tangible assets: 3 148,646
Investments:   0
Total fixed assets: 148,646
Current assets
Stocks: 4 2,542
Debtors: 5 8,551
Cash at bank and in hand: 158,556
Investments:   0
Total current assets: 169,649
Creditors: amounts falling due within one year: 6 ( 11,483 )
Net current assets (liabilities): 158,166
Total assets less current liabilities: 306,812
Creditors: amounts falling due after more than one year:   0
Provision for liabilities: 0
Accruals and deferred income: 0
Total net assets (liabilities): 306,812
Members' funds
Profit and loss account: 306,812
Total members' funds: 306,812

The notes form part of these financial statements

PENGWERN BOAT CLUB CIC

Balance sheet statements

For the year ending 30 June 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 31 October 2024
and signed on behalf of the board by:

Name: Helen Margaret Watkinson
Status: Director

The notes form part of these financial statements

PENGWERN BOAT CLUB CIC

Notes to the Financial Statements

for the Period Ended 30 June 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

    Tangible fixed assets depreciation policy

    Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives.

    Other accounting policies

    Stocks are stated at the lower of cost and estimated selling price. Cost is determined using the first-in, first out (FIFO) method.

PENGWERN BOAT CLUB CIC

Notes to the Financial Statements

for the Period Ended 30 June 2024

  • 2. Employees

    13 months to 30 June 2024
    Average number of employees during the period 4

PENGWERN BOAT CLUB CIC

Notes to the Financial Statements

for the Period Ended 30 June 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 39,598 39,598
Disposals
Revaluations
Transfers 334,995 510 335,505
At 30 June 2024 374,593 510 375,103
Depreciation
Charge for year 14,707 0 14,707
On disposals
Other adjustments 211,750 211,750
At 30 June 2024 226,457 0 226,457
Net book value
At 30 June 2024 148,136 510 148,646

PENGWERN BOAT CLUB CIC

Notes to the Financial Statements

for the Period Ended 30 June 2024

4. Stocks

13 months to 30 June 2024
£
Stocks 2,542
Payments on account 0
Total 2,542

PENGWERN BOAT CLUB CIC

Notes to the Financial Statements

for the Period Ended 30 June 2024

5. Debtors

13 months to 30 June 2024
£
Trade debtors 1,256
Prepayments and accrued income 7,295
Other debtors 0
Total 8,551
Debtors due after more than one year: 0

PENGWERN BOAT CLUB CIC

Notes to the Financial Statements

for the Period Ended 30 June 2024

6. Creditors: amounts falling due within one year note

13 months to 30 June 2024
£
Bank loans and overdrafts 0
Amounts due under finance leases and hire purchase contracts 0
Trade creditors 3,692
Taxation and social security 1,377
Accruals and deferred income 6,414
Other creditors 0
Total 11,483

COMMUNITY INTEREST ANNUAL REPORT

PENGWERN BOAT CLUB CIC

Company Number: 14933847 (England and Wales)

Year Ending: 30 June 2024

Company activities and impact

Pengwern Boat Club is a Rowing Club based on the River Severn in Shrewsbury. Membership is open to all: Juniors, Seniors and Masters from 12 years old to 80+. We welcome both rowers and non-rowers, although there is usually a waiting list for Learn to Row courses for non-rowers. The Club has a wide range of boats for use by Club members as part of their Membership subscription. We have a number of different subscriptions. Junior including Students and Under 25’s subscription is currently £194 per annum. Senior subscriptions are a maximum of £387 per annum. We have an Adaptive Rowing section supported by volunteer coaches and assistants from the Club Membership. Harper Adams University Rowing Club are affiliated Members and use the Club boats and facilities We have an annual Regatta in May attended by over 30 Clubs and Schools from the West Midlands, the North West and other Clubs from across the UK. We host an annual Dragon Boat festival which raises funds for Macmillan Cancer and the Coracle Championship which raises funds for Severn Hospice. Shrewsbury Food Hub use our kitchen facilities for bulk cooking.

Consultation with stakeholders

Our Stakeholders are our Club Membership. We have an Annual Meeting in September to which all Members are invited. The Members approve the members of the Club Management Committee (open to all Members) and reappoint the Club Directors on a 3-year rolling cycle. The Members approve the Club Financial Accounts and the Membership subscriptions for the following Membership Year. Club Members are invited to submit topics for discussion at the Annual Meeting. As the Club is run entirely by volunteers we carried out a Volunteering survey with our Members to understand what we can do to increase the number of volunteers. The Club also has a Rowing Committee which, in consultation with Members makes recommendations to the Management Committee and Directors for replacement boats, courses to attend and any other rowing related activities. Individual Rowing squads have regular meetings. These provide feedback and suggestions to the Rowing Committee. The Club Captain issues a weekly communication to all Club members covering all rowing activities. The Club Chair issues periodic communications to all Club members covering all non-rowing related activities.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
13 February 2025

And signed on behalf of the board by:
Name: Simon Banks
Status: Director