REGISTERED COMPANY NUMBER: 12322612 (England and Wales)

REGISTERED CHARITY NUMBER: 1188068

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2025

for

Broxbourne Rowing Club

Page

Report of the Trustees

1

to

3

Independent Examiner's Report

4

Statement of Financial Activities

5

Balance Sheet

6

to

7

Notes to the Financial Statements

8

to

12

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 2025. 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 Charity's objects ("Objects") are:

- the promotion of community participation in healthy recreation by the provision of facilities specifically for the sport of rowing and other related activities ("facilities" means land, buildings, equipment and organising sporting activities);

- providing and assisting in providing facilities for sports described above, recreation or other leisure time occupation of such persons who have need for such facilities by reason of their youth, age, infirmity or disablement, poverty or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving their conditions of life; and

- advancing the education of children and young people through such means as the Directors think fit in accordance with the Charities Act 2011.

Significant activities

The charity is a rowing club and provides all the facilities, equipment, training and support services that members need to enjoy the sport of rowing.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

The Club was awarded a coaching grant from Sports England for the period July 2025 to June 2026 to subsidise the coaching costs of introducing newcomers to the sport of rowing, through its learn to row courses, and to enable the club to enhance its coaching offer to its development and junior squads with a particular focus on introducing girls to the sport. As a result, the club has been able to expand its introductory programme with the offer of "Taster Days" for the first time, as well as expanding its learn to row courses for adults and juniors. Over 50 people participated in these courses in 2025 with an ambition to double that in 2026.

The Club has continued to invest in its facilities with new outdoor racking space, and further investment in gym equipment and its fleet of boats.

ACHIEVEMENTS AND PERFORMANCE

Through its Development and Junior squads the Club has been able to introduce members to racing through local regattas and head races, with members transitioning through to Junior performance and senior/masters full racing squads through the year.

In addition to local regattas the Club continues to enter crews in senior and master's categories at prestigious Head of the River events, Henley Women's Regatta, Henley Royal Regatta and Henley Masters as well as at National Master's and national level junior events such as the Ball Cup and National Club Championships. This year the Club achieved extraordinary success with one of its junior members selected to represent England and winning his J18 singles sculls event at the Home International Event. At the other end of the spectrum a club member joined a composite crew to race at the World Master's championships winning in the J4- (for rowers aged 80-85).

The Club's recreational squad, with over 50 active rowers, has continued to participate in the British Recreational Rowing tours, which this year took place on the Rivers Weaver and Dee in the UK and in the Weeribben-Wieden national Park in the Netherlands. Members of the squad also participated in various British Rowing Explorer League events and a number of other tours to the Norfolk Broads and elsewhere in the UK.

FINANCIAL REVIEW

Reserves policy

The rowing club has existed for 175 years. The trustees acknowledge their duty to maintain unrestricted funds, which have not been designated for a specific use at a level of £53,000 equivalent to twelve months operating costs. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. Reserves have been maintained well above this level throughout the year. The Club invested £10,000 in the year from its unrestricted reserves to construct new outdoor racking. In addition, the trustees consider it appropriate, going forward, to designate reserves within its unrestricted funds for long term projects to maintain and improve the Clubs House and Grounds facilities, as well for the replacement of its truck in the coming years.

The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.

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.

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

Historically Broxbourne Rowing Club was established in 1847 and was registered as a Community Amateur Sports Club (CASC 04914 / CH06368) on 5 January 2008.

The charity is a company limited by guarantee and was incorporated on 19 November 2019 and registered as a charity on 20 February 2020 with the Charities Commission in England and Wales.

A vote of the members of Broxbourne Rowing Club (CASC) on 8 December 2020, with prior approval and clearance from HMRC agreed to transfer all assets and liabilities from Broxbourne Rowing Club (CASC) to Broxbourne Rowing Club (Charitable Company). The transfer was effective 31 December 2020.

The charity is governed by a Memorandum and Articles of Association as created at incorporation and adopted by members on 8 December 2020 and updated on 23 September 2021 and 12th April 2025. The liability of the members in the event of the company being wound up is limited to a sum not exceeding £10.

Recruitment and appointment of new trustees

The trustees of the charity are also the directors for the purposes of company law and are appointed by the members at the AGM, in accordance with the Articles of Association.

Induction and training of new trustees

New Trustees are introduced with a full range of relevant Charity Commission guidance and appropriate information on their responsibilities

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

12322612 (England and Wales)

Registered Charity number

1188068

Registered office

The Clubhouse

Old Nazeing Road

Broxbourne

EN10 6QU

Trustees

A Stokes

L M Ainsworth

H M Dodsworth

C J Heathcote

G S Troll

I W Henley (resigned 31/12/2025)

N M Murray Trustee (appointed 12/4/2025)

Company Secretary

L M Ainsworth

Independent Examiner

Cartwrights

Chartered Accountants and Business Advisors

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

Approved by order of the board of trustees on 9 September 2026 and signed on its behalf by:

C J Heathcote - Trustee

Independent examiner's report to the trustees of Broxbourne Rowing Club ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2025.

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.

Matthew Brown

Cartwrights

Chartered Accountants and Business Advisors

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

9 September 2026

31/12/25

31/12/24

Unrestricted

Total

funds

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

103,607

95,927

Other trading activities

2

21,949

24,466

Investment income

3

3,223

1,688

Other income

3,550

2,050

Total

132,329

124,131

EXPENDITURE ON

Raising funds

3,202

2,543

Charitable activities

Rowing club expenses

132,394

119,149

Total

135,596

121,692

NET INCOME/(EXPENDITURE)

(3,267

)

2,439

RECONCILIATION OF FUNDS

Total funds brought forward

1,266,367

1,263,928

TOTAL FUNDS CARRIED FORWARD

1,263,100

1,266,367

31/12/25

31/12/24

Unrestricted

Total

funds

funds

Notes

£

£

FIXED ASSETS

Tangible assets

7

1,160,950

1,157,110

CURRENT ASSETS

Debtors

8

11,845

13,867

Cash at bank and in hand

137,079

124,132

148,924

137,999

CREDITORS

Amounts falling due within one year

9

(46,774

)

(28,742

)

NET CURRENT ASSETS

102,150

109,257

TOTAL ASSETS LESS CURRENT LIABILITIES

1,263,100

1,266,367

NET ASSETS

1,263,100

1,266,367

FUNDS

10

Unrestricted funds

1,263,100

1,266,367

TOTAL FUNDS

1,263,100

1,266,367

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

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 9 September 2026 and were signed on its behalf by:

C J Heathcote - Trustee

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.

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.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Membership income is recognised on an accruals basis when members indicate that they will be joining the club / renewing their membership.

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

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.

Governance costs

Governance costs are those that assist the work of the charity but do not directly represent charitable activities.

Tangible fixed assets

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

Freehold property

-

2% on cost

Plant and machinery

-

10% on cost

Motor vehicles

-

Straight line over 5 years

The freehold land with a cost of £95,000 has not been depreciated on the basis that it is considered to have an unlimited lifespan.

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.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

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

2.	OTHER TRADING ACTIVITIES

31/12/25

31/12/24

£

£

Fundraising events

3,780

2,700

Racking income

962

6,284

School fees

10,209

5,454

Learn to Row

6,998

10,028

21,949

24,466

3.	INVESTMENT INCOME

31/12/25

31/12/24

£

£

Deposit account interest

3,223

1,688

4.	NET INCOME/(EXPENDITURE)

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

31/12/25

31/12/24

£

£

Depreciation - owned assets

57,731

53,163

Surplus on disposal of fixed assets

(50

)

(2,050

)

5.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2025 nor for the year ended 31 December 2024.

6.	GOING CONCERN

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

7.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 January 2025

1,000,000

653,247

7,750

1,660,997

Additions

-

61,571

-

61,571

Disposals

-

(17,832

)

-

(17,832

)

At 31 December 2025

1,000,000

696,986

7,750

1,704,736

DEPRECIATION

At 1 January 2025

54,300

441,837

7,750

503,887

Charge for year

18,100

39,631

-

57,731

Eliminated on disposal

-

(17,832

)

-

(17,832

)

At 31 December 2025

72,400

463,636

7,750

543,786

NET BOOK VALUE

At 31 December 2025

927,600

233,350

-

1,160,950

At 31 December 2024

945,700

211,410

-

1,157,110

8.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/25

31/12/24

£

£

Amounts owed by group undertakings

5,423

3,573

Other debtors

-

200

Prepayments and accrued income

6,422

10,094

11,845

13,867

9.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/25

31/12/24

£

£

Trade creditors

-

1

Accruals and deferred income

46,774

28,741

46,774

28,742

10.	MOVEMENT IN FUNDS

Net

movement

At

At 1/1/25

in funds

31/12/25

£

£

£

Unrestricted funds

General fund

1,266,367

(3,267

)

1,263,100

TOTAL FUNDS

1,266,367

(3,267

)

1,263,100

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

132,329

(135,596

)

(3,267

)

TOTAL FUNDS

132,329

(135,596

)

(3,267

)

Comparatives for movement in funds

Net

movement

At

At 1/1/24

in funds

31/12/24

£

£

£

Unrestricted funds

1,263,928

2,439

1,266,367

TOTAL FUNDS

1,263,928

2,439

1,266,367

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

124,131

(121,692

)

2,439

TOTAL FUNDS

124,131

(121,692

)

2,439

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

Net

movement

At

At 1/1/24

in funds

31/12/25

£

£

£

Unrestricted funds

1,263,928

(828

)

1,263,100

TOTAL FUNDS

1,263,928

(828

)

1,263,100

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

256,460

(257,288

)

(828

)

TOTAL FUNDS

256,460

(257,288

)

(828

)

Within the funds carried forward a balance of £593,973 (2024: £593,973) relates to the revaluation of the freehold within the accounts.

11.	RELATED PARTY DISCLOSURES

The charitable company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The charity received management fees of £3,500 from its subsidiary, Broxbourne Rowing Club (Trading) Ltd.At the balance sheet date the subsidiary owes £5,422 to the charity.

12.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party of the company.