Charlties Registered Number: 1024553 Rotary District 1060 Charitable Trust Fund Financial Statements For the year ended 30 June 2024
Contents Page Annual report Annual report continued Annual report continued Annual report continued Accountsnts. Review IncA)me & Expendlture Balance Sheet Notes to the Financlal Statements Value of Investments
Rotary Dlstrlct 1060 Charitable Trust Fund (Registered Number 1024553) Annual Report for the year ended 30 June 2024 History and purpose of the Trust The declaration of Trust was dated 11th July 1988. The Trust Deed directs that funds will be distributed by the Trustees for the relief of the poor and needy or to or for such other charitable and educational purpose, institution, society or obj8Ct as Rotary Intemational District 1060 (District 1060) shall in duly conslltuted meeting from time to time direcL Children's Holiday Fund The initial fund was created in 1993194, following an appeal by the then District Governor, Alan Cox, to Clubs in District 1060, for the provision of holidays for the underprivileged young people under 18 years of age {the 'Children's Holiday Fund.). The appeal rais8d in excess of £30,000 and is invested on a long- term basis and its income is a source of support for the children's holidays. Recognising the level of surplus funds held in District 1060 it was agreed that there be a temporary suspension of grants by Children's Holiday fund allowing the reserves within Children's Holiday fund to increase until such time as funds were requlred again by Distrlct 1060. This suspension of grant ceased during the Rotary Year 2022123, with dubs being invited to apply for funds to support childrens holidays b8ing directly sponsored by them. Grants are only made to projects which incorporate an element requiring participants to be away from home for at least one night, with children being detemiined as under 18 years of age at the time of the holiday. District Trust Fund Following a resolution of the Council of District 1060 ('District Council,) and a rreSpOnding resolution of the Trustees, with effect from 1st July 2001, the Trustees received all other charitable funds held by District 1060 as at 30th June 2001 (the 'District 1060 fund,). Th8 District 1060 Fund, principally held on short- term deposits, is to be distributed by the Trustees in accordan with the instructions of District Council and the Deed of Trust. Th8 Trustees also directed that, with effect from 1st July 2001, the Children's Holiday Fund and the District 1060 Fund should be maintained and r8POrted on as separately identifiable funds. The Trustees and Secretary All of the trustees are unpaid volunteers, appointed or removpd hy FJigtrir.t 1nfio L8jx nffirors nf District 1060 are ex officio Trustees, namely District Gov&rnor. Immediate Past District Governor, District Governor Elect, District Governor Nominee, Distri Treasurer and Community servi Chair. The three remaining Trustees are elected by and voted for by Clubs, ratified at the September District Council on the basis thal each will retire at the conclusion of a three year term. These elections are timed to coincide on the date of the first meeting of the District Council in a Rotary Year (the 'Year' starts on 1st July and rinishes on 30th June in the next year). New Trustees are also appointed at the meeting and assume office on Ihe day following. Retiring Trustees are entitled to seek re-election.
Rotary District 1060 Charitable Trust Fund (Registerèd Number 1024553) Annual Report for the year ended 30 June 2024 Trustees and Secretary - contlnued During the period the Rotarian Trustees were and are as follows:_ Elected Trustees John Brown Peter Roberts Timothy Bushell Ex Officio Trustees Amal Rampal John Parkinson Denzil Williams Jonathan Wilding Anthony Joint William Elliott District Govemor Immediate Past District Govemor District Govemor EleGt District Governor Nominee Finance oificer l (Treasurer) Ch8ir of Community Service John Scott Secretary The o)TJce as Chairof Gommunily Sernce is ]rImI¢d at the beglnning ollhe Rofary Year The Secr818ry of DistriGI 1060 8CtS 8s se¢tary to th8 fruslees Organisation and Meetings during the period The trust88s act in a manner to ensure that a clear distinctlon between the two Separately identifiable sections is maintained. The trustees hava mèt as required to discharge their duties. Review of progress and achievements during the period The Trustees have referred to the guidance contained in the Charity Commissionels g8n8ral guidance on public benefit when reviewing the charitabla aims and objectives and in planning fLrture activities. In particular, the Trustees have considered how planned activities will contribute to aims and objectives set. The District 1060 Fund Foundation The annual contribution paid by Clubs to District for Foundation ceased in 2023124 Community and Vocational Service Support has been given during the period to 'KIDS OUT" Special Needs Football, Special Needs Crtcket, District Childrens Holidays, Christmas Toy Box Appeal and Burnaid. continued...
Rotary District 1060 Charitable Trust Fund (Registered Number 1024553) Annual Report for the year ended 30 June 2024 The District 1060 Fund - continued Ukranlan Appeal Appe81s for Ukrain8 were suspended by RIBI during 2023124 Dlstrlct Governors Charltles The District Governors nominated charity for 2023124 was Rotary Foundation A total of £2.000 was donated by Club5 to support this charity. This money has been paid to Rotary Foundation. Revlew of Financial Activities and Affairs durlng the period Dlstrict 1060s Children's Hollday lund Income in th@ period 2023124 which arises from investments has b88n £1,845. Management charge5 amounted to £649. The value of the invested funds. due to the impact of world markets following Covid, along with ongoing world events has fluctuated considerably over the year. The market value at 30th June 2024 was £76,954, an increase of £8,624 over the previous year. The District Fund During this, the twenty third year of the Trusteeship, the totsl income for 2023124 was £27,769. Details of the above values and figures are contsined in the Financial Statements on pages 6 to 9. Accountlng Policies Basis of preparation The statements have been prepar8d in accordance with Acunting and Reporting by Charities; Statement of Recommended Practic8 applicable to charities preparing their accounts in accordan with Stalments of Recommended Practice for Charities (SORP: FRS 102) and the Charities act 2011 and applicable regulations. Restricted Funds These represent grants and donation, whlch are subject to restrictlons on their expenditure imposed by the donor or through the tenS of an appeal. The purpose of the restricted funds is to 8nsure that monies received under the headings Children's holiday, Foundation, Community and Vocational Service, Youth Opportunities are spent exclusively on those avenues of Rotary Service. The purpose of General restricted funds is to ensure that monies collected for other charitable causes. outside of th8 regular avenues of Rotary Servic8 are also spent exclusively on Ihe cause for which they were raised.
Rotary Distrlct 1060 Charitable Trust Fund (Registered Number 1024553) Annual Report for the year ended 30 June 2024 Incoming Resources {Roc8ipts) Incoming resources are included in the St8tement of Financial Activlties when th8 Charity is entilled to the income and the amount can be quantified with reasonable accuracy. Resources Expendod (Payments) Resources expended are recognised on an accruals basis as a liabillty Is Incurred. Investments Investmènts are stated at market value at tha Balance Sheet date. The Statement of Financlal Activities includes Ihe gains and losses arising on revaluations and disposals throughout the rotary year. Reserves Policy It is the intention of the Trust8es to distribut8 the District Funds in accordance with the wishes of District 1060, although from year to year surpluses may arise due to timing.
Rotsry District 1060 Charltable Trust Fund Financial Statements for the year ended 30 June 2024 These Financial Statements represent those financi81 activities of Rotary District 1060 Charitsble Trust Fund through its Committees and Officers which relate to :. 1. Administration of tha activities and guidance for Rotary Clubs in District 1060. The costs of these services are funded by Clubs in District. 2. Provision Df an Annual Conference. The costs of this are met by those attending and a Confernce levy charge to all Clubs in District. The Financial Statements relate specifically to the Administrative and Conference income and expenditure of 2023124. Signed on behalf of the Rotary Dislrict 1060 mittee by: Tim y Bushell air of the Trustees 2023124 Anthon District Tre int urer 2023124 ACCOUNTANTS REVIEW We report on the accounts for the year ended 30th June 2024 set out on pages 6 to 9. Th8 Rotary District 1060 is responsib18 for the preparation of the accounts, and they consider that the Rotary District 1060 is exempt from an audit. It is our responsibility to cary out procedures designed to enable us to report our opinion BASIS OF OPINION Our work procedures consisted of comparing the accounts with the accounting records kept by the Rotary District 1060. making such limited enquires of the officers of the District as we considered necessary for the purpos8 of this report. These procedures provide the only assurance expSSed in our opinion. OPINION In our opinion the income and expenditure accounts and the balance sheet for the year ended 30th June 2024 are in agreement with the txx)ks of account kept by the Rotary District 1060 and on the basis of the information contained in the bcK)ks of account. they comply wth the necessary ents. BK Plus Limited Churchfield House 36 Vicar Street Dudley West Midlands DY2 8RG 21 January 2024
Rotary Distrf¢t 1060 Charflable Trust Fund Fln•n¢lal Slatem•nts for thè •r ènded 30 Jun• 2024 In¢ome & Expendliur• Aeeourt 2024 2023 R<JtryFoundallon Inc<>m? RFUK Ger1 Foundafj(Jn aln0 4,035 4.035 (Xh8r kncom• GhaToS 2,(0 1.84S 7.435 12,474 500 lfjd8 OutToy Box AppBo1 FQd5 Out day Kjds Out- Sub51dy aumakl UkT8iniaD Appeal Chlknns P1aY Special N8Éds Fiw)Ibdl 11.450 5,415 TSO 630 165 2.¢JOO 1.135 5 Disthcts Trust Grant 5 Districts Tru8t- Off Gra a4w8815 Bank Intev85t 1(rf) 27,769 27.769 31.380 CINqrltabt• Exp•ndlture p Rolrf? RFUK- Gen¢r¥l RFUK- Polio Ethtlon undali DG Charilies IF¢xThtstKJnl- 22r23 Aptwls 2,0 5.035 ILKJ A¢UnIng F888 Quilters Mw?gement c8rg8S UkTaine Klds OLrtToy P•JxAppeal ds Olrt day lfjd5 Oul 8th- Eingb)n 2)23 Holfda>s 69S 6.100 11.700 7.435 9.450 450 1.199 1.085 Sp8UBI Ngeds CvLel Grdnt515 Oi8ti1cts Trust On8 Off (knnti Disknd Hdiday Gr8nls to Club5 Bumad B8Wday1VerTrip BBnkcharges (Gap1 on InvEm8nts 6.507 500 450 82 - 9.432 t.ODD 131 f2,257 43,001 Totsl EXpondre 22,257 43,001 SURPLUSIDEFICIT FOR THE YEAR 5.512 11,641 Fwd bBlarKeB Fd Qlter5 ffThement f¢¢ year BalBnce clA*Y on In¢xm•& ExpoTrJltwe 26.403 S,512 - 10.629 21.286 36,580 11.641 26,403
Rotary Dlstrlct 1060 Charitable Trust Fund Financlal Statements for the year ended 30 June 2024 Balance Sheet As at 30 June 2024 Note 2024 2023 Fixed Asset Investments Quilters Investments 76,954 68,329 Assets Bank- Current Bank - t)eposit (CAFS) Debtors and Prepayments 21,286 26,403 21,286 26,403 Total Assets 98.240 94.732 Llabllltles Creditors, Accruals and Pre-receipts Interfund - Due to District NET ASSETS 98,240 94,732 Represented by Capital Investments Income account on Investments Market value movement on investments Funds 70,193 2,377 4,384 21,286 76,291 3,185 11,147 26,403 98.240 94,732
Rotary District 1060 Charltable Trust Fund Financial Statements for the year ended 30 June 2024 Notes to the Financial Ststemonts l Funds and Unrestricted funds breakdown: Holiday Grant Fund District Children's Holidays Kids Out Day Kids Out Day (June 22) Burn Aid Special Needs Foolb811 Special Needs Cricket Ukraine (Donation) Toy Box DG Charity 5 Districts Trust RFUK (General) Unrestricted 2,993 2,163 3,760 150 500 663 257 150 300 2,000 8.350 21,286
Rotary Oistrict 1060 Charitable Trust Fund Flnanclal Statements for the year ended 30 June 2024 Schedule of Investments held as at 30 June 2024 3Wun-24 30-Jun-23 Market Market Value Value Movement Market Market Value Value Movement Cost Cost Fixed Interest 21.950 22,611 Equities- UK 12.662 13,899 Equities - America 15.001 18,172 Equities - Europe (ex UK) 3.189 Equities - Global 6.391 6.191 Altemative Investments - Absolute Return 11,145 10.515 Cash and A¢cruals 2.377 2.377 661 1,237 3.171 145 200 630 37,000 28,730 8,358 8,087 9,708 9.314 2,176 2.048 4,010 3.477 15,039 13.488 3.185 3,185 8.270 271 394 128 533 1.551 72,570 76.954 4,384 79,476 68,329 11.147