REGISTERED CHARITY NUMBER: 1048799
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
FOR
COVENTRY ROUND TABLE CHARITABLE TRUST FUND
COVENTRY ROUND TABLE CHARITABLE TRUST FUND
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 11 |
COVENTRY ROUND TABLE CHARITABLE TRUST FUND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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
Objectives and aims
The aims and objects of Coventry Round Table Charitable Trust are those of the Round Table movement as a whole.
The charity is established to enhance the community life of the inhabitants of Coventry and the surrounding area by providing facilities and promoting community projects of a charitable nature.
Coventry Round Table Charitable Trust operates on a voluntary basis.
The Trustees have had due regard to guidance published by the Charities Commission on public benefit.
The objectives are to:
Promote fellowship and service to the local community.
Significant activities
Skinflint Rally was again held during the year but each team were responsible for their own fundraising. As a result the team entry fees and costs of holding the event were included in these financial statements, but not the donations received or donations paid to the charitable causes.
The sleigh was used to undertake an Easter sleigh in order to raise funds for Ukraine.
ACHIEVEMENT AND PERFORMANCE
A summary of the main achievements and performance during the year is included within the financial review.
FINANCIAL REVIEW
Principal funding sources
Coventry Round Table Charitable Trust Fund is a registered charity which aims to promote fellowship amongst it members and the wider community and to benefit the public by providing services and support to good causes in and around Coventry.
Various fundraising activities have been undertaken to raise funds for charitable purposes.
The charity owns a house in Morecambe which has been rented out to a tenant during the year and is being managed by an agent. A surplus of £5,921 (2022: £144 deficit) was received during the year.
Other successful fundraising events included the Christmas sleigh and Ukraine sleigh appeal.
A surplus of £28,332 (2022: £10,998) has been made in the year after an investment property revaluation of £20,000 (2022: £15,000).
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COVENTRY ROUND TABLE CHARITABLE TRUST FUND
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
FINANCIAL REVIEW
Investment policy and objectives
As the object of fundraising activities is to provide the means to make donations to worthy local causes it is not anticipated that funds will be retained for the long term. Therefore, surplus funds should be available on 30 days notice.
Grant-making policy
The charity receives many requests for support from all aspects of Society. All requests are considered by the members at general meetings, but the emphasis is very much on supporting the local community.
Reserves policy
The charity has established a policy of retaining a reserve of £5,000 as a provision against unforeseen maintenance work arising on the Morecambe property.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
Trustees are elected on an annual basis, with the officers being elected from the membership of the Table. The Annual General Meeting is held in April each year.
Organisational structure
The charity was established by Trust Deed dated 4 August 1995 and is registered with the Charity Commission.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1048799
Principal address
1-2 Mercia Business Village Torwood Close Westwood Business Park Coventry CV4 8HX
Trustees
P Farmer T Hewitt W Green A Rogerson
Approved by order of the board of trustees on ............................................. and signed on its behalf by: 2 January 2024
......... ........................ ................................ P Far mer - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COVENTRY ROUND TABLE CHARITABLE TRUST FUND Indendent examinerfs rnport to the trustses of Coventy Round Table Charitsble Trust Fund I report to the charity twstees on my examin3b.on of the accounts of Coventy Round Table charitab Trust Fund (the Tnjsl) for the year end8d 31 March 2023. Resp¢nslbllfties and basis of report As the charity trustees of the Trust you are responsible for the preparydtron of the a¢xounts in accordance with the requirements of the Charit*5 Act 2011 fthe Arfl. I report in respeet of my examination of the Tnjsvs accounts cafti&J out under Section 145 of the Act and in carying out my examination I have followed all applicable Directions gwen by the Chanty Commission under Section 145lSllbl of the Act. Indep•ndent •xamln•rfs statsment I have completed my 8xaminab"on. l Confim) that no material matter5 have eome to my attention in connection with the examinakn.on giving me eause lo believe that in any material respecL accounting records were not kept in speCt of the Trust as required ty Section 130 of the ACL or the accounts do not accord with those records., ot the acttjunls do not comply wth the applicabk requirements cnming the fom) and content of accounts set out tn the Charibes IAc¢ounts and Rèports) Regulations 2008 other than any requirement that the acrounts give 8 true and tsir wew which is not a matter LY)nstdered as part of an independent gxamination. I have no concems and have come across rK) olher matters in connection with the examination lo which attention should be drawn in this pOrt in order to enable a proper understarKting of the accounts to be reached. Michael JellicA)e Date". Page 3
COVENTRY ROUND TABLE CHARITABLE TRUST FUND
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| 2023 Unrestricted Restricted Total fund fund funds Notes £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 1,139 - 1,139 Other trading activities 2 17,963 6,265 24,228 Investment income 3 8,425 - 8,425 Total 27,527 6,265 33,792 EXPENDITURE ON Raising funds 4 6,034 507 6,541 Charitable activities Donations 13,103 5,816 18,919 Total 19,137 6,323 25,460 Net gains on investments 20,000 - 20,000 NET INCOME/(EXPENDITURE) 28,390 (58) 28,332 Transfers between funds 10 (58) 58 - Net movement in funds 28,332 - 28,332 RECONCILIATION OF FUNDS Total funds brought forward 138,863 - 138,863 TOTAL FUNDS CARRIED FORWARD 167,195 - 167,195 |
2022 Total funds £ 485 39,395 5,226 |
|---|---|
| 45,106 | |
| 10,794 38,324 |
|
| 49,118 | |
| 15,000 | |
| 10,988 - |
|
| 10,988 127,875 |
|
| 138,863 |
The notes form part of these financial statements
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COVENTRY ROUND TABLE CHARITABLE TRUST FUND
BALANCE SHEET 31 MARCH 2023
| Unrestricted Restricted fund fund Notes £ £ FIXED ASSETS Investment property 7 140,000 - CURRENT ASSETS Debtors 8 1,000 - Cash at bank 30,237 4,169 31,237 4,169 CREDITORS Amounts falling due within one year 9 (4,042) (4,169) NET CURRENT ASSETS 27,195 - TOTAL ASSETS LESS CURRENT LIABILITIES 167,195 - NET ASSETS 167,195 - FUNDS 10 Unrestricted funds TOTAL FUNDS |
2023 Total funds £ 140,000 1,000 34,406 35,406 (8,211) 27,195 167,195 167,195 167,195 167,195 |
2022 Total funds £ 120,000 507 26,817 27,324 (8,461) 18,863 138,863 138,863 138,863 138,863 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 2 January 2024
... ........................ .................. P Farmer - Trust ee
The notes form part of these financial statements
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COVENTRY ROUND TABLE CHARITABLE TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
The financial statements are presented in Sterling (£).
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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COVENTRY ROUND TABLE CHARITABLE TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
2. OTHER TRADING ACTIVITIES
| Carol Singing Skinflint Ladies Night Ukraine appeal Past Chairman's Night 3. INVESTMENT INCOME Rents received Deposit account interest 4. RAISING FUNDS Investment management costs Property management Property expenses |
2023 £ 15,183 3,030 354 5,435 226 24,228 2023 £ 8,415 10 8,425 2023 £ 1,010 1,484 2,494 |
2022 £ 9,202 30,193 - - - |
2022 £ 9,202 30,193 - - - |
|---|---|---|---|
| 39,395 | |||
| 2022 £ 5,225 1 |
|||
| 5,226 | |||
| 2022 £ 584 4,785 |
|||
| 5,369 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
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COVENTRY ROUND TABLE CHARITABLE TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
| 6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 485 Other trading activities 9,202 Investment income 5,226 Total 14,913 EXPENDITURE ON Raising funds 5,869 Charitable activities Donations 13,056 Total 18,925 Net gains on investments 15,000 NET INCOME 10,988 RECONCILIATION OF FUNDS Total funds brought forward 127,875 TOTAL FUNDS CARRIED FORWARD 138,863 7. INVESTMENT PROPERTY FAIR VALUE At 1 April 2022 Revaluation At 31 March 2023 NET BOOK VALUE At 31 March 2023 At 31 March 2022 The trustees valued the property at 31 March 2023. |
Restricted fund £ - 30,193 - 30,193 4,925 25,268 30,193 - - - - |
Total funds £ 485 39,395 5,226 45,106 10,794 38,324 49,118 15,000 10,988 127,875 138,863 £ 120,000 20,000 140,000 140,000 120,000 |
Total funds £ 485 39,395 5,226 |
|---|---|---|---|
| 45,106 | |||
| 10,794 38,324 |
|||
| 49,118 | |||
| 15,000 | |||
| 10,988 127,875 |
|||
| 138,863 |
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COVENTRY ROUND TABLE CHARITABLE TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
7. INVESTMENT PROPERTY - continued
| Fair value at 31 March 2023 is represented by: Valuation in 2012 Valuation in 2020 Valuation in 2022 Valuation in 2023 Cost 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 10. MOVEMENT IN FUNDS Net movement At 1.4.22 in funds £ £ Unrestricted funds General fund 138,863 28,390 Restricted funds Restricted - (58) TOTAL FUNDS 138,863 28,332 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 27,527 (19,137) Restricted funds Restricted 6,265 (6,323) TOTAL FUNDS 33,792 (25,460) |
£ 51,144 25,000 15,000 20,000 28,856 140,000 2023 2022 £ £ 1,000 507 2023 2022 £ £ 8,211 8,461 Transfers between At funds 31.3.23 £ £ (58) 167,195 58 - - 167,195 Gains and Movement losses in funds £ £ 20,000 28,390 - (58) 20,000 28,332 |
|---|---|
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COVENTRY ROUND TABLE CHARITABLE TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | ||||||
|---|---|---|---|---|---|---|
| movement | At | |||||
| At 1.4.21 | in funds | 31.3.22 | ||||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General fund | 127,875 | 10,988 | 138,863 | |||
| TOTAL FUNDS | 127,875 | 10,988 | 138,863 | |||
| Comparative net movement in funds, included in the above are as follows: | ||||||
| Incoming | Resources | Gains and | Movement | |||
| resources | expended | losses | in funds | |||
| £ | £ | £ | £ | |||
| Unrestricted funds | ||||||
| General fund | 14,913 | (18,925) | 15,000 | 10,988 | ||
| Restricted funds | ||||||
| Restricted | 30,193 | (30,193) | - | - | ||
| TOTAL FUNDS | 45,106 | (49,118) | 15,000 | 10,988 | ||
| A current year 12 months and prior year 12 months combined position is as | follows: | |||||
| Net | Transfers | |||||
| movement | between | At | ||||
| At 1.4.21 | in funds | funds | 31.3.23 | |||
| £ | £ | £ | £ | |||
| Unrestricted funds | ||||||
| General fund | 127,875 | 39,378 | (58) | 167,195 | ||
| Restricted funds | ||||||
| Restricted | - | (58) | 58 | - | ||
| TOTAL FUNDS | 127,875 | 39,320 | - | 167,195 |
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COVENTRY ROUND TABLE CHARITABLE TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
10. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 42,440 | (38,062) | 35,000 | 39,378 |
| Restricted funds | ||||
| Restricted | 36,458 | (36,516) | - | (58) |
| TOTAL FUNDS | 78,898 | (74,578) | 35,000 | 39,320 |
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
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