ROTARY CLUB OF YORK CHARITY FUND FINANCIAL ACCOUNTS 30TH JUNE 2024 CHARITY NUMBER:1025046 ROTARY CLUB OF YORK CHARITY FUND FINANCIAL ACCOUNTS FOR THE YEAR ENDED 30TH JUNE 2024 CONTENTS 1. Report of the Trustees 2. Independent Examiner's report 3. Statement of financial activities 4. Balance sheet 5. - 8. Notes forming part of the financial statements Page la ROTARY CLUB OF YORK CHARITY FUND TRUSTEES REPORT FOR THE YEAR ENDED 30TH JUNE 2024 The Trustees present their report and financial statements of the Charity for the year ended 30th June 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charitys Trust Deed 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 published on 16th July 2014. 1. Reference and admlnistratlve Information The Trustees who served during the year were: President: President Elect: Hon Secretary". Hon Treasurer: Paul Harvey Mike Hay Tom Jackson Nigel Everard Charity Number: 1025046 Principal Address: Club Chambers Museum Street York Y017DN Bankers: Solicitors: Independent Examiner: HSBC Bank PIC York Commercial PO Box 26 13 Parliament street York Y018XS Harrowells Solicitors York City Centre Office 1 St Saviourgate York Y018ZQ Mr B Davis FCA Henton & Co LLP 124 Acomb Road Holgate York Y024 4EY 2. Structure, governance and management The Rotary Club of York Charity Fund is an unincorporated charity and is constituted under a trust deed dated 14th February 1964. The Trustees are nominated and appointed by the Club. The Club is managed by the Club Council which comprises the Trustees and six elected members. The Council meets on a monthly basis to facilitate the administration of the Charity. 3. Objectives and actlvitles The primary objectives are to apply the capital and income of the fund to or for the benefit of such charitable institutions. societies and objects as the Club shall, in duly constituted meeting, from time to time direct. The charity carries out these objects by raising funds through a variety of activities. These include the Dragon Boat Races, charity walks and lunches. Other funds are derived from donations. Gift Aid is claimed on all eligible donations. The distribution of funds falls into four categories. Rotary Foundation, Community Service. International and Youth Services. Rotary Foundation is the umbrella organisation for Rotary worldwide and sponsors v8rious international projects. Community Service covers donations to local and UK charities and projects. International will cover donations to worldwide disaster relief and other overseas projects with Youth Services supporting Youth projects. Community Service. International and Youth services are controlled by sub-committees who will evaluate requests for aid and make recommendations to the Club Council. Charities to benefit from the Dragon Boat Races are nominated by the participating teams and the Club. Page 1b ROTARY CLUB OF YORK CHARITY FUND TRUSTEES REPORT FOR THE YEAR ENDED 30TH JUNE 2024 Continued 4. Achievements and performance The Dragon Boat Races raised net £96,206. These together with the other contributions and donations enabled the Club to raise a net grand total of £116,061. Distributions were made from the Dragon Boat Races to many local charities of £87,938. The Community Services Committee donated £9,164 to various local charities. Donations were made lo Rotary Foundation of £2,036. The International Committee was able to support various charities to total £4,343. Grants of £1,507 were made to other charities. The Youth Service Committee supported youth charities to a total of £4,048. The total giving for the year was £109.036 as compared to £108,103 in the previous year. 5. Flnanclal review Overall the balance held by the fund increased by £7.025 to £41,973 at the end of the year. Of this £31.919 was held in the General Fund and £10,054 in the Dragon Boat account after the transfer of £7,644 from the Dragon Boat Fund to the Charity Fund. The balance in the Charity Fund would be available for distribution in the financial year 2024125. The Dragon Boat Fund is held in reserves to fund deposit and other payments for the following years race. Reserves policy: It is the Club's policy to distribute the closing balance in the General Fund in the following year. Since the prime objective of the Club is to support charitable causes it is considered imprudent to maintain a large level of reserves. Sums are. however, earmarked to provide immediate support to disaster relief. Risk management: The Trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen the risks. Investment powers and policy.. Under the Trust Deed, the charity has the power to make any investment which the Trustees see fit. The Club needs to be able to respond immediately to requests for aid. For this reason the Trustees have decided that such investments as it holds should be available for instant access. The Trustees have not adopted an ethical investment policy. 6. Plans for future perlods The Club plans to continue with the Dragon Boat Races as the main generator of funds. The Trustees appreciate that, in the current economic climate. corporate sponsorship may not continue at the level previously enjoyed. The Club intends, as far as possible, to continue to meet its, objectives to support local, national and international charities. The report was approved by the Trustees on 22nd November 2024 and signed on their behalf by Rtn N C Everard Honorary Treasurer Page 2 ROTARY CLUB OF YORK CHARITY FUND INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ROTARY CLUB OF YORK CHARITY FUND I report to the Trustees on my examination of th& accounts of Charity for the year ended 30th June 2024 which are set out on pages 3 to 8. Responsibilities and basis of report As the Trustees of the Charity you are responsible for the preparalion of the accounts in accordance with the requirements of the Charities Act 2011 {'The Acl,). I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable directions given by the Charity Commissioner under section 145(5}(b) of the 2011 Act. Independent examinerfs statement I have completed my 8xamination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: {1 } accounting records were not kept in respect of the Charity as required by seclion 130 of the Act; or (2} the accounts do not accord with those records; or (3> the accounts do not comply with the applicable requirements concerning the form and content of of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 olher than any requirements 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 Gonnection with the examination to which attention should be drawn in this report in order to enable a proper understsnding of th8 accounts to be reached. Brett Davis FCA Henton & Co LLP 124 Acomb Road Holgate York Y024 4EY Page 3 ROTARY CLUB OF YORK CHARITY FUND STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 30TH JUNE 2024 2024 2023 Note Income and Endowments Donations and legacies 8,139 15,355 Charitable Activities 131,020 117,621 Investment income 281 102 Total Income 139,440 133,078 enditure Raislng funds Costs of fundraising events 23,379 22,812 Charitable Activities Donations and grants 109.036 108,103 Total Expenditure 132,415 130,915 Net movement in fund 7,025 2,163 Unrestricted funds as at 1st July 2023 34.948 32,785 Unrestricted funds as at 30th June 2024 41,973 34,948 Page 4 ROTARY CLUB OF YORK CHARITY FUND BALANCE SHEET AS AT 30TH JUNE 2024 2024 2023 Note Current Assets Debtors Cash at bank and in hand 1,111 83,141 879 89,732 84.252 90,611 Credltors: amounts fallln one due wlthln Creditors 10 42,279 55,663 42,279 55,663 Net Assets 41,973 34,948 Unrestricted funds 41.973 34.948 Approved by the Trustees on 22nd November 2024 and signed on their behalf by Rtn N C Everard Honorary Treasurer Page 5 ROTARY CLUB OF YORK CHARITY FUND NOTES TO THE ACCOUNTS YEAR ENDED 30TH JUNE 2024 1. Accountin Pollcles a) Basis of preparatlon The accounts have been prepared in accordance with the Statement of recommended Practice: Accounting and Reportlng by Charitles preparing their accounts in accordance with the Financlal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) Issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charitles Act 2011. The accounts are prepared in Sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to the accounts. b) Golng concem The Trustees conslder there are no material uncertainties about the Charitws ability to continue as a going concem. The review of our financial position, reserve levels and future plans glves the Trustee5 confidence the Charity remains agoing concern for the foreseeable future. c) Funds structure Unresticted income funds comprise thos& funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds wh8re the trustees, at their discretion, have created a fund for a specific purpose. d) Income All incoming resources are recognised once the charity has. 6ntitlement to the resources, it is certain that the resources wll be received and the monetary value of the incoming resources can be measured with sufficient reliabillty. e) Expendlture Expenditure is included on an accruals basis. Donations and grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where the offer is conditional, such grants being recognlsed as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditlons which have not been met at the year end are noted as a commitment. but not accrued as expenditure. Governance costs include those incurred in the governance of the charlty and its assets including costs related to Ihe Independent Examination and professional fees. fj Investmont Income Investment Incom8 is accounted for In the period in which the charity is entitled to receipt. g) Basic financial assets and Ilabilities Baslc financial assets, which include debtors and bank balances, are Inltlally measured at transaction price Including transactlon costs. All financial assets are classified as recelvable withln one year and are not amortised, Basic financial liabilities. whlch Include creditors and grants payable, are Inltially recognlsed at transaction price. All financial liabilities are classified as payable within one year and are not amortised. Page 6 ROTARY CLUB OF YORK CHARITY FUND NOTES TO THE ACCOUNTS YEAR ENDED 30TH JUNE 2024 2. Donations and le acies 2024 2023 Members donations Foundation - York Inner Wheel - Polio Fund Donations and other income Donations- Technology Fund District 1040 Rotary Grant Rotary Shop donation 1,220 1,778 5,075 917 927 10.284 1,000 2,288 8,139 15,355 3. Charltable Actlvltles 2024 2023 Dragon Boat Race -Racing -Gala -Team sponsorship 24,591 3,586 88,068 3,076 2,798 3,223 22,381 2.911 81,129 2,579 St Crux fundraising Song for everyone Concert Race Night Remembering Sarah event Spanish themed evening Change the World collections 100 Club International Committee - Charity Walks Foundation - Raffles - Crocuseslxmas cards 2,404 2,832 265 2.490 270 2,310 2,311 705 82 630 131,020 117,621 4. Investm8nt Income 2024 2023 Bank interest received 281 102 5. Costs of fundraisin events 2024 2023 Dragon Boat Race st Crux fundraising Song for everyone Concert Race Night International Committee - Charity Walks Remembering Sarah event Spanish themed evening Bank charges 100 Club -Racing 20,039 265 726 476 288 20,008 250 663 305 86 1,500 85 1.500 23,379 22,812 Page 7 ROTARY CLUB OF YORK CHARITY FUND NOTES TO THE ACCOUNTS YEAR ENDED 30TH JUNE 2024 6. Donations and rants 2024 2023 Dragon Boat Race Local Charities Donations to Institutions - Community Service Donatlons to Institutions - Youth Service Donations to Institutions - International Rotary Foundation UK Other donatlons 87,938 9,164 4,048 4,343 2.036 1,507 81,263 12,955 2.964 6.100 2,413 2.408 109,036 108.103 7. Remuneratlon The Trustees received no remuneration during the year (2023 £nil} and were not reimbursed for any of their expenses in the year (2023 £nil). 8. Debtors 2024 2023 st Crux hire prepaid HMRC Gift Aid 140 971 125 754 1,111 879 Page 8 ROTARY CLUB OF YORK CHARITY FUND NOTES TO THE ACCOUNTS YEAR ENDED 30TH JUNE 2024 9. Cash at bank and In hand 2024 2023 HSBC- Charity fund- Current alc HSBC- Charity fund- Deposit alc PayPal - Charity alc St Crux float HSBC- Dragon Boat- Current alc HSBC- Dragon Boat- Deposit alc HSBC- Dragon Boat- Virgin Money Giving alc 11,357 15,000 6,853 310 14,872 17,844 16,905 10,647 14,719 2,204 23,975 10,060 28,127 83,141 89,732 10. Credltors 2024 2023 Dragon Boat Race Sundry creditors 38,771 3,508 52,732 2.931 42,279 55,663 11. Anal is of Charitable Funds Balance Bl￿d Incoming Resources resources expended Transfers Balance Cl￿d Charity Fund 25,518 23,195 {24.438) 31.919 Dragon Boat Fund 9,430 116,245 (107.977) {7,644) 10.054 Total 34,948 139,440 132,415 41.973 The Charity Funds are available to be spent for any purposes of the charity. The Dragon Boat Fund is also available to be spent for any purpose of the charity, the above amount is, however. currently held in reserves in order to be able to fund deposits and other payments in respect of the following years event. The Dragon Boat Committee agreed to transfer £7.644 to the Club's Charity Account out of the surplus generated from the 2023 event. 12. Related Pa Transactions There were no related party transactions during the year.