Charity registration number 1016998
RECREATION AND EASY ACCESS FOR DISABLED YOUTH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
RECREATION AND EASY ACCESS FOR DISABLED YOUTH
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees V Codrington S Dilena N Evans D J Hill G E Morgan M Morgan S Connor D Campbell (Appointed 18 January 2022) Charity number 1016998 Principal address Korus House 6-8 Colne Road Twickenham Middlesex TW1 4JR Independent examiner Warner Wilde Limited 4 Marigold Drive Bisley Woking Surrey GU24 9SF Bankers NatWest - Walton-on-Thames 73 High Street Walton - on - Thames KT12 1DW
RECREATION AND EASY ACCESS FOR DISABLED YOUTH
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 11 |
RECREATION AND EASY ACCESS FOR DISABLED YOUTH
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees present their annual report and financial statements for the year ended 31 December 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "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
The charity's objects are to raise money to help young people with disabilities play sport and take part in healthy activities for fun and fitness. The charity is run entirely by volunteers. For over two decades the charity has helped hundreds of children, teenagers and young adults with grants for a variety of sports equipment, including racing wheelchairs, basketball wheelchairs, blind cricket equipment, access ramps, bespoke prosthetics, seated skis, team kits, racing gloves, specialist hearing aids, gym equipment, bicycles, swimming lessons, riding lessons, facilities and transport and ponies. The trustees are unanimously of the belief that the grants made by the charity have an often life-changing impact on the life and well-being of the beneficiary.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
2022 has been a year of change, development and sadness at the charity Recreation and Easy Access for Disabled Youth. (REAdY) A new Chairperson, a new Strategic Plan for the future along with a newly appointed Trustee to the board have all given the charity a post Covid boost and has helped inject some refreshment to the Trustees, both old and new.
During the year Salvatore Dilena decided to stand down as Chairman. He has done an outstanding job as a Trustees having been appointed to the board of Trustees in 2013 and acting as Chairman since 2014. We are delighted that he has remained a Trustee to support the transition of Chairperson bringing valuable help and insight to the charity. I am grateful for the support he has given me both as Vice Chairman and a Trustee and look forward to continuing working alongside him in the future with great enthusiasm.
The charity needed to have more clarity in a rapidly changing environment, and a new Strategic Plan was devised. The Trustees identified that there was a need to reach a wider audience, both in terms of raising revenue, and in engaging with a more diverse group of disabled youth to know of our existence. Currently REAdY receive grant applications from a narrow base, mainly sporting wheelchairs, swimming and riding lessons, and we wanted to let other sporting organisations know what we can offer in supporting disabled athletes to know where they can access funding in addition to us. The development of the future strategic plan for the charity will be a useful tool in helping the charity achieve this.
A new charity event was introduced by a volunteer, Nathan Graham, in the form of a 24 hour Bikathon, which was highly popular and helped raise awareness of the charity along with raising vital funds. This was in addition to the annual REAdY Golf Day at Fulwell Golf Club following the Covid virus. Following this event a decision was made by the Trustees to rename the golf day as “The Colin Herridge Memorial Golf Day” following the sad and sudden death of Colin Herridge in February 2022 . Colin was a much respected and loved Trustee of REAdY since it’s inception in 1992. His contribution to the charity never wavered, continually working hard to advocate for disabled youngsters to get into sport and leisure activities, and he is very sadly missed. A magnificent memorial lunch was held in February 2023 which was attended by many well-known professional and amateur rugby players. Colin was a heavy weight personality and influence on the rugby game as it is today.
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RECREATION AND EASY ACCESS FOR DISABLED YOUTH
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
Looking to the future, the charity aims to diversify in methods of fund raising, look at sponsorship, introduce new trustees and look at grass root sports that attract disabled youngsters into activities to improve their quality of life, health and wellbeing, and to spread support to more disabled youth.
The current financial position is very stable. There is over £110000.00 available for grants at the time of writing this report. During the year of 2022, 26 grants were awarded to young people totalling £50,327. The rising cost of equipment, as well as greater awareness as mentioned above, are crucial if we are going to help more people enjoy sport and realise their dreams, as well as being vital for their mental health, wellbeing and supporting their independence.
However, the future of the charity looks healthy, and we hope that the new Strategic Plan will bear more fruits in the coming months and years.
Financial review
At the balance sheet date the charity's reserves stood at £99,527 (2021: £116,016).
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a minimum of £5,000. The charity does not have any fixed costs so this level of reserves is considered sufficient.
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
The charity was formed by a declaration of trust dated 14 January 1993 as amended by a deed executed 6 January 2005, as amended by the deed dated 16 November 2020.
The trustees who served during the year and up to the date of signature of the financial statements were: V Codrington
S Dilena N Evans D J Hill G E Morgan M Morgan S Connor D Campbell (Appointed 18 January 2022) L Clancy (Appointed 18 January 2022 and resigned 31 October 2022) C Herridge (Deceased 28 February 2022)
Details of method of recruitment and appointment of trustees
On the nomination of an individual as a prospective trustee the charity observes a systematic approach for trustees to review and consider the individual’s personal profile and carrying out any appropriate verifications. Due consideration is given to the skills and experience the individual may contribute to the charity’s work and also in terms of maintaining a balance and diversity within the board of trustees.
Trustees and volunteers
After giving over a decade of loyal service to REA d Y it is with regret that I report the formal resignation of Mr. Jeff Thomas as a trustee. He has been instrumental in the organisation and continuity of the READY Charity Golf Day at Fulwell Golf Club every year. On behalf of the board of trustees I convey to Jeff my sincere gratitude and warmest wishes.
I t is with a heavy heart to inform of the sad passing of Colin Herridge on 28th February 2022. He was an esteemed trustee whose involvement with the charity dates back to its’ inception in 1993. All trustees and volunteers extend their heartfelt sympathy to Colin’s family.
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RECREATION AND EASY ACCESS FOR DISABLED YOUTH
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
Details of organisational structure
The charity has a straightforward structure with a board of trustees running the charity with the assistance of a Honorary Treasurer and a Honorary Secretary who provide their service on an voluntary basis.
Supplier payment policy
The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).
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The company's current policy concerning the payment of trade creditors is to:
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settle the terms of payment with suppliers when agreeing the terms of each transaction;
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ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and
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pay in accordance with the company's contractual and other legal obligations.
Trade creditors of the company at the year end were equivalent to XX day's purchases, based on the average daily amount invoiced by suppliers during the year.
The trustees' r eport was approved by the Board of Trustees.
.............................. Moira Morgan (Oct 25, 2023 11:20 GMT+1) M Morgan Trustee
Date: ............................................. 25/10/2023
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RECREATION AND EASY ACCESS FOR DISABLED YOUTH
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF RECREATION AND EASY ACCESS FOR DISABLED YOUTH
I report to the trustees on my examination of the financial statements of Recreation and Easy Access for Disabled Youth (the charity) for the year ended 31 December 2022.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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 financial statements to be reached.
F J Wilde FCCA DChA Warner Wilde Limited
4 Marigold Drive Bisley Woking Surrey GU24 9SF
Dated: ......................... 25/10/2023
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RECREATION AND EASY ACCESS FOR DISABLED YOUTH
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022
| Unrestricted Unrestricted | Unrestricted Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2022 | 2021 | ||
| Notes | £ |
£ | |
| Income from: | |||
| Donations and legacies | 3 | 32,015 | 13,920 |
| Investments | 4 | 244 | 12 |
| Total income | 32,259 | 13,932 | |
| Expenditure on: | |||
| Raising funds | 5 | 5,779 | 3,852 |
| Charitable activities | 6 | 42,969 | 13,461 |
| Total expenditure | 48,748 | 17,313 | |
| Net expenditure for the year/ | |||
| Net movement in funds | (16,489) | (3,381) | |
| Fund balances at 1 January 2022 | 116,016 | 119,397 | |
| Fund balances at 31 December 2022 | 99,527 | 116,016 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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RECREATION AND EASY ACCESS FOR DISABLED YOUTH
BALANCE SHEET
AS AT 31 DECEMBER 2022
| Notes Current assets Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets Income funds Unrestricted funds |
2022 £ 115,113 (15,586) |
£ 99,527 99,527 99,527 |
2021 £ 120,466 (4,450) |
£ 116,016 116,016 116,016 |
|---|---|---|---|---|
25/10/2023 The financial statements were approved by the Trustees on .........................
.............................. Moira Morgan (Oct 25, 2023 11:20 GMT+1) M Morgan Trustee
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RECREATION AND EASY ACCESS FOR DISABLED YOUTH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1 Accounting policies
Charity information
Recreation and Easy Access for Disabled Youth is a charitable trust.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts 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.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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RECREATION AND EASY ACCESS FOR DISABLED YOUTH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
1 Accounting policies
(Continued)
1.5 Expenditure
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently measured at the cash or other consideration expected to be received and not discounted.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently measured at the cash or other consideration expected to be paid and not discounted.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at the cash or other consideration expected to be paid and not discounted.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.
1.7 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees 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.
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RECREATION AND EASY ACCESS FOR DISABLED YOUTH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
3 Donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2022 | 2021 | |
| £ | £ | |
| Donations and gifts | 29,879 | 10,560 |
| Donated goods and services | 2,136 | 3,360 |
| Investments | ||
| Unrestricted | Unrestricted | |
| funds | funds | |
| 2022 | 2021 | |
| £ | £ | |
| Interest receivable | 244 | 12 |
| Raising funds | ||
| Unrestricted | Unrestricted | |
| funds | funds | |
| 2022 | 2021 | |
| £ | £ | |
| Fundraising and publicity | ||
| Other fundraising costs | 5,779 | 3,852 |
| 5,779 | 3,852 |
4 Investments
5 Raising funds
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RECREATION AND EASY ACCESS FOR DISABLED YOUTH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
6 Charitable activities
| Grant funding of activities (see note 7) Share of support costs (see note 8) Share of governance costs (see note 8) Grants payable Grants to individuals Support costs Support costs Governance costs £ £ Office costs 616 - Bookkeeping 1,000 - Sundry expenses 416 - Independent Examination fees - 1,182 2,032 1,182 Analysed between Charitable activities 2,032 1,182 |
2022 £ 39,755 2,032 1,182 42,969 2022 £ 39,755 39,755 2022 Support costs Governance costs £ £ £ 616 1,095 - 1,000 1,000 - 416 416 - 1,182 - 936 3,214 2,511 936 3,214 2,511 936 |
2021 £ 10,014 2,511 936 13,461 2021 £ 10,014 10,014 2021 £ 1,095 1,000 416 936 3,447 3,447 |
|---|---|---|
7 Grants payable
8 Support costs
Governance costs includes an accrual for accounts preparation and independent examination fees of £ 1,182 (2021- £ 936, which was for accounts preparation only).
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RECREATION AND EASY ACCESS FOR DISABLED YOUTH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
9 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
10 Equipment
The charity retains ownership of equipment (such as wheelchairs) provided to beneficiaries. However, these items are not considered to have any ongoing value as they are made to the specific requirements of the individual and are therefore written off as an expense in the year of purchase.
11 Creditors: amounts falling due within one year
| Trade creditors Other creditors Accruals and deferred income |
2022 £ 3,800 10,604 1,182 15,586 |
2021 £ - 3,514 936 4,450 |
|---|---|---|
12 Related party transactions
There were no disclosable related party transactions during the year (2021 - none) .
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