Charities Registered Number: 1024553
Rotary District 1060 Charitable Trust Fund
Financial Statements
For the year ended 30 June 2025
Contents
| Page | |
|---|---|
| Annual report | 1 |
| Annual report continued | 2 |
| Annual report continued | 3 |
| Annual report continued | 4 |
| Accountants’ Review | 5 |
| Income & Expenditure | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 |
| ValueofInvestments | 9 |
Rotary District 1060 Charitable Trust Fund (Registered Number 1024553) Annual Report for the year ended 30 June 2025
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 object as Rotary International District 1060 (District 1060) shall in duly constituted meeting from time to time direct.
Children's Holiday Fund
The initial fund was created in 1993/94, 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 raised 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 required again by District 1060. This suspension of grant ceased during the Rotary Year 2022/23, with clubs being invited to apply for funds to support childrens holidays being 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 determined 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 corresponding 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’). The District 1060 Fund, principally held on short- term deposits, is to be distributed by the Trustees in accordance with the instructions of District Council and the Deed of Trust.
The Trustees also directed that, with effect from 1st July 2001, the Children's Holiday Fund and the District 1060 Fund should be maintained and reported on as two separately identifiable funds.
The Trustees and Secretary
All of the trustees are unpaid volunteers, appointed or removed by District 1060. Six officers of District 1060 are ex officio Trustees, namely District Governor, Immediate Past District Governor, District Governor Elect, District Governor Nominee, District Treasurer and Community Service Chair. The three remaining Trustees are elected by and voted for by Clubs, ratified at the September District Council on the basis that 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 finishes on 30th June in the next year).
New Trustees are also appointed at the meeting and assume office on the day following. Retiring Trustees are entitled to seek re-election.
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Rotary District 1060 Charitable Trust Fund (Registered Number 1024553) Annual Report for the year ended 30 June 2025
Trustees and Secretary - continued
During the period the Rotarian Trustees were and are as follows:-
Elected Trustees
| John Brown | ||
|---|---|---|
| Peter Roberts | ||
| Timothy Bushell | ||
| Ex Officio Trustees | ||
| Denzil Williams | District Governor | |
| Amal Rampal | Immediate PastDistrict Governor | |
| Jonathan Wilding | DistrictGovernorElect | |
| Jasminder Dhaliwal | District GovernorNominee | |
| Tony Joint | Finance Officer 1 (Treasurer) | |
| William Elliott | ChairofCommunity Service | 1 |
| JohnScott | Secretary | 2 |
1 The office as Chair of Community Service is confirmed at the beginning of the Rotary Year 2 The Secretary of District 1060 acts as Secretary to the Trustees
Organisation and Meetings during the period
The trustees act in a manner to ensure that a clear distinction between the two separately identifiable sections is maintained. The trustees have met 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 Commissioner's general guidance on public benefit when reviewing the charitable aims and objectives and in planning future activities. In particular, the Trustees have considered how planned activities will contribute to aims and objectives set.
The District 1060 Fund
- a Foundation
The annual contribution paid by Clubs to District for Foundation ceased in 2023/24
b Community and Vocational Service Support has been given during the period to ‘KIDS OUT; Special Needs Football, Special Needs Cricket, District Childrens Holidays, Christmas Toy Box Appeal and Burnaid.
continued...
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Rotary District 1060 Charitable Trust Fund (Registered Number 1024553) Annual Report for the year ended 30 June 2025
The District 1060 Fund - continued
c Ukranian Appeal Appeals for Ukraine were suspended by RIBI during 2023/24
d District Governors Charities
The District Governors nominated charities for 2024/25 were Newmanpick & Forte. A total of £2,800 was raised from the proceeds of the Spring Ball and donations by Clubs to support these charities. This money has been paid to the two nominated charities.
Review of Financial Activities and Affairs during the period
District 1060s Children's Holiday fund
Income in the period 2024/25 which arises from investments has been £2,136 Management charges amounted to £571 The market value at 30th June 2025 was £78,392 , an increase of £1,438 over the previous year.
The District Fund
During this, the twenty forth year of the Trusteeship, the total income for 2024/25 was £33,455
Details of the above values and figures are contained in the Financial Statements on pages6 to 8.
Accounting Policies
Basis of preparation
The statements have been prepared in accordance with Accounting and Reporting by Charities; Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Statments of Recommended Practice for Charities (SORP: FRS 102) and the Charities act 2011 and applicable regulations.
Restricted Funds
These represent grants and donation, which are subject to restrictions on their expenditure imposed by the donor or through the terms of an appeal. The purpose of the restricted funds is to ensure 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 the regular avenues of Rotary Service are also spent exclusively on the cause for which they were raised.
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Rotary District 1060 Charitable Trust Fund (Registered Number 1024553) Annual Report for the year ended 30 June 2025
Incoming Resources (Receipts)
Incoming resources are included in the Statement of Financial Activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy.
Resources Expended (Payments)
Resources expended are recognised on an accruals basis as a liability is incurred.
Investments
Investments are stated at market value at the Balance Sheet date. The Income and Expenditure Account
includes the gains and losses arising on revaluations and disposals throughout the rotary year.
Reserves Policy
It is the intention of the Trustees to distribute the District Funds in accordance with the wishes of District 1060, although from year to year surpluses may arise due to timing.
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Rotary District 1060 Charitable Trust Fund
Financial Statements for the year ended 30 June 2025
These Financial Statements represent those financial activities of Rotary District 1060 Charitable Trust Fund through its Committees and Officers which relate to :-
-
Administration of the activities and guidance for Rotary Clubs in District 1060. The costs of these services are funded by Clubs in District.
-
Provision of 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 2024/25
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Signed on behalf of e Rotary District 1060 a ittee by:
\d
ai LX)
impthy Bushell _ > Anthony Joint
Chajr of the Trustees-49824/25 District Trea er 2024/25
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ACCOUNTANT'S REVIEW
We report on the accounts for the year ended 30th June 2025 set out on pages 6 to 8. The Rotary District 1060 is responsible for the preparation of the accounts, and they consider that the Rotary District 1060 is exempt from an audit. It is our responsibility to carry 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 purpose of this report. These procedures provide the only assurance expressed in our opinion.
OPINION
In our opinion the income and expenditure accounts and the balance sheet for the year ended 30th June 2025 are in agreement with the books of account kept by the Rotary District 1060 and on the basis of the information contained in the books of account, they comply with the necessary requirements.
ChurchfieldBK Plus LimitedHouse Ke Yor Li ee. 36 Vicar Street Dudley West Midlands DY2 8RG
28 January 2026
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Rotary District 1060 Charitable Trust Fund Financial Statements for the year ended 30 June 2025
Income & Expenditure Account
| Note | 2025 | 2025 | 2024 | ||
|---|---|---|---|---|---|
| Rotary Foundation Income | |||||
| Polio Eradication Donations | 305 | - | |||
| RFUK | - | - | |||
| General Foundation Giving | 200 | - | |||
| 505 | - | ||||
| Other Income | |||||
| DG Charities | 2,800 | - | |||
| Spring Ball | 6,176 | - | |||
| Polio Lunch | 1,410 | - | |||
| Investment Income | 2,136 | 1,845 | |||
| Kids OutToy BoxAppeal | 7,525 | 7,435 | |||
| Kids Out Day (RCFD) | 6,963 | 12,474 | |||
| Kids Out - Subsidy | 400 | 500 | |||
| Burnaid | - | 450 | |||
| Ukrainian Appeal | < | 4 | |||
| Childrens Holiday | - | 750 | |||
| Special Needs Football (includes£1000RCFD | Subsidy) | 1,595 | 630 | ||
| Special NeedsCricket (includes£650RCFD Subsidy) | 4,945 | 4,085 | |||
| DistrictCom VocCommunity Project | |||||
| 5 Districts Trust Grant | 1,000 | 2,000 | |||
| § Districts Trust - One OffGrant | 1,000 | 600 | |||
| Appeals | - | - | |||
| (Gain)/Loss on Investments | __1,374_ | ___9,432_ | |||
| 34,321 | 37,201 | ||||
| Total Income | 34,826 | 37,201 | |||
| Charitable Expenditure | |||||
| Forthe Rotary Foundation | |||||
| RFUK - General | 200 | - | |||
| RFUK - Polio Eradication | 305 | - | |||
| 505 | - | ||||
| Other | |||||
| DG Charities | 2,800 | 2,000 | |||
| Polio Lunch | 900 | - | |||
| Spring Ball | 6,176 | - | |||
| § Districts TrustAGM -Travel & Accomodation | 217 | - | |||
| Appeals | - | - | |||
| Audit and Accounting Fees | 1,020 | 984 | |||
| Quilters Management charges | 571 | 649 | |||
| Ukraine | - | - | |||
| Kids OutToy BoxAppeal Inc£2624 + £150transfer | 10,599 | 7,435 | |||
| Kids Out Day | 6,572 | 9,450 | |||
| Kids Out Subsidy | 400 | 450 | |||
| District Childrens Holidays | 250 | 450 | |||
| Special Needs Football | 1,304 | 1,199 | |||
| Special Needs Cricket | 1,032 | 933 | |||
| Grants (5 Districts TrustOne OffGrant) | 41,000 | 600 | |||
| District 1060 Holiday Grants to Clubs | 1,700 | 6,507 | |||
| Burnaid | 500 | 500 | |||
| Bewdley River Trip | - | 450 | |||
| District Com VocCommunity Project | - | = | |||
| Bankcharges | 84 | 82 | |||
| 35,125 | 31,689 | ||||
| Total Expenditure | 35,630 | 31,689 | |||
| SURPLUS/DEFICITFOR THEYEAR | - | 804 | §,512 | ||
| Fund balances b/fwd | 21,286 | 26,403 | |||
| Fund balance foryear | 1 | - | 804 | §,512 | |
| Quilters movement for year | - | 1,436 | - | 10,629 | |
| Balancec/fwdonIncome&Expenditure | 19,046 | 21,286 |
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Rotary District 1060 Charitable Trust Fund Financial Statements for the year ended 30 June 2025
Balance Sheet As at 30 June 2025
| Note | 2025 | 2024 | ||
|---|---|---|---|---|
| Fixed Asset Investments | ||||
| Quilters Investments | 78,392 | 76,954 | ||
| Assets | ||||
| Bank - Current | 20,401 | 21,286 | ||
| Bank - Deposit (CAFs) | - | - | ||
| Interfund - Due from District | 600 | |||
| Debtorsand Prepayments | - | - | ||
| 21,001 | 21,286 | |||
| Total Assets | 99,393 | 98,240 | ||
| Liabilities | ||||
| Creditors, Accruals and Pre-receipts | 1,955 | - | ||
| Interfund - Due to District | - | - | ||
| 1,955.00 | - | |||
| NETASSETS | 97,438 | 98,240 | ||
| Represented by | ||||
| Capital Investments | 71,208 | 70,193 | ||
| Income accounton Investments | 2,175 | 2,377 | ||
| Market value movement on investments | 5,009 | 4,384 | ||
| Funds | 1 | 19,046 | 21,286 | |
| 97,438 | 98,240 |
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Rotary District 1060 Charitable Trust Fund Financial Stamens for the Year ended 30th June 2025
Notes to the Financial Statements
1 Funds and Unrestricted funds breakdown of balances:
| Holiday Grant Fund | £ | 1,293.00 | |
|---|---|---|---|
| DistrictChildren's Holidays | £ | 1,913.00 | |
| Kids Out Day | £ | 3,760.00 | |
| Burn Aid | £ | - | |
| Special Needs Football | £ | 954.00 | |
| Special Needs Cricket | £ | 1,169.00 | |
| Ukraine (Donation) | £ | 150.00 | |
| Toy Box | £ | - | |
| Rotary Children's Fun Day -2025 | 2025 | £ | 391.00 |
| Kids Out Subsidies | £ | 900.00 | |
| DG Charities | £ | : | |
| 5 Districts Trust | £ | 1,000.00 | |
| RFUK (General) | £ | - | |
| RFUK Polio | £ | 510.00 | |
| DistrictCommunity ProjectAward | Award | £ | = |
| Unrestricted | £ | 7,006.00 | |
| TotalBalances | £ | 19,046.00 |
Rotary District 1060 Charitable Trust Fund Financial Statements for the year ended 30 June 2025
Schedule of Investments held as at 30 June 2024
| 30-Jun-25 | 30-Jun-25 | 30-Jun-24 | ||||||
|---|---|---|---|---|---|---|---|---|
| Market | Market | |||||||
| Cost | Market Value |
Value Movement |
Cost | Market Value |
Value Movement |
|||
| £ | £ | £ | £ | £ | £ | |||
| Fixed Interest Equities -UK Equities -America Equities - Europe (exUK) Equities - Global Alternative Investments -Absolute Returr CashandAccruals |
26,416 10,328 13,370 3,324 5,221 12,548 2,175 |
26,809 11,669 16,627 3,474 5,283 12,355 2,175 |
- | 393 1,341 3,257 150 62 193 - |
21,950 12,662 15,001 3,044 6,391 11,145 2,377 |
22.611 13,899 18,172 3,189 6,191 10,515 2,377 |
- - |
661 1,237 3,171 145 200 630 - |
| 73,382 78,392 5,010 ee |
72,570 76,954 4,384 ee |
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