Charity registration number 1072928 (England and Wales)
THE FENCE CLUB
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
THE FENCE CLUB
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Ms M Bates Mr SR Wells Mr DW Bramford Mr J Athwal Mr I Dayus Mr J Kissane
Charity number (England and Wales) 1072928 Independent examiner Mr M W Palmer FCA Cottons Accountants LLP Chestnut Field House Chestnut Field Rugby Warwickshire United Kingdom CV21 2PD
THE FENCE CLUB
CONTENTS
| Page | |
|---|---|
| Trustees report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 9 |
THE FENCE CLUB
TRUSTEES REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024
The trustees present their annual report and financial statements for the year ended 30 September 2024.
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, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
Objectives and activities
The charity is the keeper and distributor of funds raised through efforts of the Fence Club and its members. Funds are raised at events organised by the club and people from the Toy Industry are invited as guests. The charity also distributes toys donated by the industry to needy homes, schools and institutions. The objective of the Trust Fund is to provide finance to help children in the UK who are sick, disabled, terminally ill or from socially deprived environments.
Public benefit
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The charity carries out all its activities for the public benefit and in particular for children in the special circumstances outlined above. The trustees have had regard to the guidance issued by the Charity Commission on public benefit.
Achievements and performance
Significant activities and achievements against objectives
We ran six different functions which, together with other charitable activities, resulted in a record year of donations.
Financial review
During the year £85,478 was raised by fund raising events and £145,421 of donations were received by the Fence Club Trust Fund.
The charity spent £81,326 on fundraising events and made grants to various children's charities totalling £131,897.
Reserves policy
The trustees have reviewed the reserves of the charity and as there is no requirement to maintain reserves, the trustees confirm that the unspent reserves as at 30th September 2024 of £87,692 will be carried forward for distribution in 2024/2025 and beyond.
Structure, governance and management
The Fence Club Trust Fund is an unincorporated trust, constituted by Deed of Trust dated 4th November 1998, and registered with the Charity Commission on 14th December 1998, the registered number being 1072928.
The trustees who served during the year and up to the date of signature of the financial statements were: Ms M Bates Mr SR Wells Mr DW Bramford Mr J Athwal Mr I Dayus Mr J Kissane
Recruitment and appointment of trustees
The existing Trustees are responsible for the recruitment of new trustees.
In selecting new trustees, the existing trustees seek to identify people who regularly attend events and functions organised by the charity and are willing to volunteer to help in our broader community work.
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THE FENCE CLUB
TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024
Organisational structure
The Trustees comprise of 5 ex officio Trustees and 1 co-opted Trustee. The co-opted Trustees, who are elected for 5 years, are persons who are able by virtue of their personal or professional qualifications can make a contribution to the pursuit of the objects of the Charity.
The co-opted Trustees are officers of the Club, and five ex officio Trustees are the Club Chairman, Charity Secretary, Social Secretary, treasurer and Assistant Charity Secretary.
Induction and training of trustees
Following appointment, new trustees are introduced to their new role and given copies of the trust deed and a guide to the policies and procedures adopted by our charity.
Other matters
Risk Management
The trustees have assessed the risks the charity faces and have drawn up a risk matrix which identifies the major risks by area of activity, the nature of those risks, the likelihood of the risks happening and the measures taken to manage them. The trustees are satisfied that systems are in place, to manage the risks that have been identified.
The trustees report was approved by the Board of Trustees.
Ms M Bates
30 May 2025
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THE FENCE CLUB
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE FENCE CLUB
I report to the trustees on my examination of the financial statements of The Fence Club (the charity) for the year ended 30 September 2024.
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.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements 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 the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
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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: 1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011.
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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 financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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.
Mr M W Palmer FCA Cottons Accountants LLP
Chestnut Field House Chestnut Field Rugby Warwickshire CV21 2PD United Kingdom 30 May 2025
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THE FENCE CLUB
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 145,421 | 101,169 |
| Other charitable activities | 4 | 85,478 | 95,870 |
| Total income | 230,899 | 197,039 | |
| Expenditure on: | |||
| Raising funds | 5 | 81,326 | 106,103 |
| Charitable activities | 6 | 135,837 | 70,859 |
| Total expenditure | 217,163 | 176,962 | |
| Net income and movement in funds | 13,736 | 20,077 | |
| Reconciliation of funds: | |||
| Fund balances at 1 October 2023 | 73,956 | 53,879 | |
| Fund balances at 30 September 2024 | 87,692 | 73,956 |
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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THE FENCE CLUB
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
| 2024 | 2023 | |||||
|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | ||
| Current assets | ||||||
| Debtors | 9 | 20,601 | 18,795 | |||
| Cash at bank and in hand | 129,000 | 64,296 | ||||
| 149,601 | 83,091 | |||||
| Creditors: amounts falling due within | 10 | |||||
| one year | (61,909) | (9,135) | ||||
| Net current assets | 87,692 | 73,956 | ||||
| The funds of the charity | ||||||
| Unrestricted funds | 11 | 87,692 | 73,956 | |||
| 87,692 | 73,956 |
The financial statements were approved by the trustees on 30 May 2025
Ms M Bates
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THE FENCE CLUB
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
1 Accounting policies
Charity information
The Fence Club is an unincorporated trust.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". 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 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 amounts 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 or grantors 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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THE FENCE CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
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.
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.
3 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Donations and gifts | 145,421 | 101,169 |
| Income from other charitable activities | ||
| Unrestricted | Unrestricted | |
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Fundraising events | 85,478 | 95,870 |
4 Income from other charitable activities
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THE FENCE CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024
5 Expenditure on raising funds
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Fundraising and publicity | ||
| Staging fundraising events | 75,195 | 101,441 |
| Other fundraising costs | 6,131 | 4,662 |
| 81,326 | 106,103 | |
| Expenditure on charitable activities | ||
| 2024 | 2023 | |
| £ | £ | |
| Direct costs | ||
| Grants to institutions | 131,897 | 67,202 |
| Transport of toys | 3,940 | 3,325 |
| Bank charges | - | 332 |
| 135,837 | 70,859 | |
| Analysis by fund | ||
| Unrestricted funds | 135,837 | 70,859 |
6 Expenditure on charitable activities
7 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
8 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
9 Debtors
| Amounts falling due within one year: Other debtors Prepayments and accrued income |
2024 £ - 20,601 20,601 |
2023 £ 1,180 17,615 |
|---|---|---|
| 18,795 |
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THE FENCE CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024
10 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| Other creditors Accruals and deferred income |
2024 £ 3,261 58,648 61,909 |
2023 £ - 9,135 |
| 9,135 |
11 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 General funds Previous year: At 1 General funds |
October 2023 Incoming resources Resources expended At 30 September 2024 £ £ £ £ 73,956 230,899 (217,163) 87,692 October 2022 Incoming resources Resources expended At 30 September 2023 £ £ £ £ 53,879 197,039 (176,962) 73,956 |
|---|---|
12 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
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