Rotary Club of Retford Percy Laws Memorial Fund
Annual Report for the year to 30 June 2022
The Rotary Club of Retford Percy Laws Memorial Fund is constituted by Deed of Trust and is a registered charity, No. 1076489. Its address is 48 Bracken Lane, Retford, Notts, DN22 7EX. The charity trustees during the year to 30 June 2022 were:
Mr John Anderson Mr Alan Hirst Mr Michael Davis Mr Peter Longden
The object of the charity is to apply the trust fund and all other monies which may from time to time be received by the trustees for the relief of the poor and needy and for such other charitable purpose or object as the Rotary Club of Retford shall from time to time direct.
The trustees aim to create a reasonable level of income from the trust’s investments, to be used by the separate Management Committee in furtherance of the aims of the charity.
One Trustee retires in rotation every two years and is eligible for re-election if they wish. There are no paid employees. The Management Committee is comprised of members of the Rotary Club of Retford, elected to the committee by periodic ballot.
We confirm that the major risks to which the charity is exposed, as identified by the trustees, have been reviewed and systems have been established to mitigate those risks.
The trustees have considered the Charity Commission’s general guidance on public benefit. Public benefit provision is a major part of the decision-making process when donation requests are considered by the Management Committee. How the public does benefit can be seen from the schedule of donations on page 5.
Net Income during the year was £12,880 Distributions were £19,882, with outstanding pledges of £9,500
Net income was much reduced on the previous year, and much lower than normal years. One flat was vacant for much of the time and property expenses were much higher than the previous year, as a major damp problem in the vacant flat was identified and dealt with, along with repairs to other parts of the properties. These costs came from the Maintenance Reserve, which is held for this purpose.
Unspent income reserves are carried forward and remain available for distribution in future years. The Trustees continue to hold a Maintenance Reserve fund for future maintenance and repair costs of the properties.
Approved by the Trustees on November 21st 2022 and signed on their behalf.
Alan G Hirst
Alan G Hirst, Trustee
M J Davis
Michael Davis, Trustee
Page 1
Report to the Trustees of the Rotary Club of Retford Percy Laws Memorial Fund Accounts for the Year Ended 30 June 2022
The accounts are set out on pages 3, 3a, 4 and 5.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the Charities Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that, in any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
John A Hepworth ACA Hepworth Griffiths Chartered Accountants 47 Grove Street Retford Nottinghamshire DN22 6LA
Date: 15 November 2022
Page 2
Rotary Club of Retford - Percy Laws Memorial Fund
Receipts and Payments Accounts for the year to June 30th 2022
| Income Receipts Property Rents (Incl. water bills) (70 Carolgate, Retford) Bank/Building Society & COIF Interest Return of donation - cancelled project D Hill - Anglian Water Bill BDC Council Tax Refund Flat 3A Fisher German fees refund Total Receipts Payments Other Expenditure: Property Expenses Other Expenses Direct Charitable Expenditure: Distributions - as per Schedule Total Payments Net Receipts for the year Increase in Current Liabilities Bank Balances at 1 July 2021 Bank Balances at 30 June 2022 |
£ 38,953.42 64.75 38.04 306.73 112.38 39,475.32 26,195.39 400.77 19,882.00 46,478.16 7,002.84 - 0.90 63,805.06 56,803.12 Page 3 |
2021 32,907.85 14.01 250.00 33,171.86 6,721.45 398.19 11,560.40 18,680.04 |
|---|---|---|
| 14,491.82 49,313.24 63,805.06 |
Rotary Club of Retford - Percy Laws Memorial Fund
Property Costs for the year to June 30th 2022
| Brown & Co. Fees (Management) | 3,785.80 |
|---|---|
| Property insurance | 1,415.56 |
| Severn Trent - re: flats | 32.72 |
| Anglian Water - re: flats | 353.14 |
| Eon.Next - Flat 3A | 108.59 |
| Repairs | |
| Gas safety checks | 155.00 |
| New boiler Flat 3A | 1,900.00 |
| Boiler repair Flat 3 | 60.00 |
| New boiler Flat 3 | 1,740.00 |
| Gain entry & New door lock Flat 3A | 234.00 |
| Repairs to stable roof | 2,900.00 |
| Repairs to shop frontage | 2,024.00 |
| Investigation and remedial work re: damp problem - Flat 3A | 5,625.89 |
| Other New security grill - shops EICR Surveys - Flats EICR remedial work & Install extra powerpoint - Flat 3A Flat clearance - Flat 3A BDC Council Tax - Flat 3A EPIC Surveys - shops and offices Jones & Co. Legal & Court fees re: re-possession of Flat 3A Total Other expenses for the year to June 30th 2022 Russell Scanlan - Trustee ins. PLMF Trustees' Expenses Total |
2,163.94 396.00 834.24 370.00 433.51 648.00 1,015.00 |
|---|---|
| 26,195.39 326.88 73.89 |
|
| 400.77 |
Page 3a
Rotary Club of Retford - Percy Laws Memorial Fund
Balance Sheet as at June 30 2022
| Investments Freehold Property, 70 Carolgate, Retford Standard Life Wrap Investment (at cost) United Trust Bank Account Total Investments Current Assets Nat West Accounts 17,003.22 COIF Deposit Account 35,171.51 TSB Treasurers Account 4,628.39 Total Assets Current Liabilities Rent Deposit Account 1 1,507.94 Rent Deposit Account 2 1,507.02 Total Liabilities Total Net Assets Capital Fund Balance brought forward 497,897.85 Addition to capital 155.72 Accumulated Fund Undistributed Income carried forward Total Page 4 |
£ 400,000.00 73,418.13 24,622.43 498,040.56 26,523.16 35,171.51 56,803.12 2,110.39 554,843.68 1,507.49 1,506.57 3,014.96 551,828.72 497,566.86 330.99 498,053.57 53,775.15 551,828.72 |
2021 400,000.00 73,418.13 24,466.71 497,884.84 63,805.06 |
|---|---|---|
| 561,689.90 3,014.06 |
||
| 558,675.84 497,897.85 60,777.99 |
||
| 558,675.84 |
Rotary Club of Retford - Percy Laws Memorial Fund
Distributions Year Ended June 30 2022
| £ | |
|---|---|
| Harry Brancham & Seth Hinitt - Swimmers | 600.00 |
| K E Passmore to assist following husband's disability | 1,000.00 |
| All Saints Church Eaton - refurbishment for community use | 1,000.00 |
| Allotment group - purchase of shed | 850.00 |
| Retford Swmming Club - purchase of timing equipment | 1,000.00 |
| Hope - equipment repair | 600.00 |
| Women's Aid - Christmas trees | 800.00 |
| New Roots - Outdoor classroom project | 1,000.00 |
| Carr Hill School - Adventure camp | 1,000.00 |
| Florence Price - Nepal project | 250.00 |
| St Giles School - Sensory room | 2,000.00 |
| Trees for Babworth Crematorium | 400.00 |
| Kyra Mumby - Medical school tuition fees | 500.00 |
| Sophie McKone - Camps International Ecuador | 300.00 |
| Purchase of trees for Rotakids project | 400.00 |
| Branching Out Young People's Fund - Welcome boxes | 200.00 |
| Retford Civic Society - Retford in Bloom | 350.00 |
| Angelhina Petruniv - Ukraine Refugee | 1,000.00 |
| Kids Out - toy boxes | 500.00 |
| Retford & District Lifesaving Club - Medals | 400.00 |
| Linus Quilting project - in aid of sick or disabled children | 700.00 |
| Sundry Matchfunding | |
|---|---|
| District Grant for Rwandan Pads project | 1,000.00 |
| DG Martin Bye's India project | 300.00 |
| Donation to Rotary Club of Lviv | 1,500.00 |
| Sponsored Walk for Aquabox | 200.00 |
| District 1220 - District purchase of wheelchair | 150.00 |
| Rise to Shine Kenya charity | 250.00 |
| Match-funding of Retford Club Committees | |
| Youth Committee - Daneshill Sailing Day | 550.00 |
| Youth Committee - Blue Ice Cheerleaders uniforms, mats etc. | 500.00 |
| Community Committee - Rebecca's Dance Studio competition transport | 250.00 |
| Community Committee - purchase of laptop for dyslexic child | 250.00 |
| Rotakids - Litter picking equipment | 82.00 |
Total Distributions 19,882.00
Page 5