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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates that management consider significant for the accounts.

River & Rowing Museum (Trading) Limited is a private company limited by shares incorporated in England and Wales. The registered office is River & Rowing Museum, Hill Meadows, Henley on Thames, Oxfordshire, RG9 1BF.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover is measured at the fair value of the consideration received or receivable and represents sales to outside customers at Invoiced amounts less value added tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on dispatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Stock is valued at the lower of cost and net realisable value. Cost is based on the cost of purchase on a first in, first out basis. Net realisable value is based on estimated selling price less additional costs to completion and disposal. Provision is made for obsolete, slow-moving or defective items where appropriate.

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Going Concern

The financial statements have been prepared on a going concern basis.

The directors are of the opinion the company has adequate resources to continue to operate for the foreseeable future, being not less than one year from the date of approval of these financial statements. The company has prepared forecasts which show that it expects to generate further profits in the current financial year.

The average monthly number of persons (including directors) employed by the company during the year was:

No employees are employed directly by River and Rowing Museum Trading Limited. Costs are incurred in River and Rowing Museum Foundation, then recharged.

As the income statement has been omitted from the filing copy of the financial statements2025-11-18, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Subsequent to the balance sheet date, the Directors took the decision to cease most of the trading activities of River & Rowing Museum Trading Limited with effect from September 2025. The decision followed the announcement by the River & Rowing Museum Foundation of the closure of the main Museum site in order to review its operations and plan for the long-term sustainability of the organisation.

As the subsidiary’s trading income is dependent on the Museum being open to the public, the closure of the Museum has resulted in the suspension of most trading activities, including the shop, café, and venue hire operations.  The leasing of the jetty and income from the car park will continue.  The Directors are working with the Trustees of the River & Rowing Museum Foundation to ensure that all obligations to staff, suppliers, and customers are appropriately managed during the closure period.

The decision to cease trading occurred after the financial year end and therefore represents a non-adjusting post balance sheet event. No adjustments have been made to the financial statements for the year ended 31 March 2025. However, the Directors note that this event will have a material impact on the future activities and financial results of the company, however the Directors do not believe this will impact the going concern of the entity.

The company is a wholly owned subsidiary of River and Rowing Museum Foundation (a company limited by guarantee) and was under the control of this company throughout the year.

No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A "The Financial Reporting Standard applicable in the UK ”.

The ultimate parent company is River and Rowing Museum Foundation, a charitable company incorporated in the United Kingdom. Copies of its consolidated financial statements, which include the company, can be obtained from the registered office. The registered office of River and Rowing Museum Foundation is River & Rowing Museum, Mill Meadows, Henley on Thames, RG9 1BF.