Rotary Club of Retford Percy Laws Memorial Fund
Annual Report for the year to 30 June 2023
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 Adrian Sumner
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 £25,870. Distributions were £21,540, with outstanding pledges of £2,250.
Net income was similar to the previous year, and back to normal levels. The vacant flat was reoccupied during the year and property expenses, whilst higher than historically, were lower than the previous year. 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 6[th] 2023 and signed on their behalf.
Alan G Hirst
Alan G Hirst, Trustee
J O Anderson
John O Anderson, Trustee
Page 1
Report to the Trustees of the Rotary Club of Retford Percy Laws Memorial Fund Accounts for the Year Ended 30 June 2023
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;
-
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: 2 November 2023
Page 2
Rotary Club of Retford - Percy Laws Memorial Fund
| Receipts and Payments | Accounts for the year | to June 30th | 2023 |
|---|---|---|---|
| Income Receipts | £ | 2022 | |
| Property Rents (Incl. water bills) | |||
| (70 Carolgate, Retford) | 38,380.62 | 38,953.42 | |
| Bank/Building Society & COIF Interest | 1,125.21 | 64.75 | |
| D Hill - Anglian Water Bill | 39.63 | 38.04 | |
| BDC Council Tax Refund Flat 3A | 306.73 | ||
| Fisher German fees refund | 112.38 | ||
| Total Receipts | 39,545.46 | 39,475.32 | |
| Payments | |||
| Other Expenditure: | |||
| Property Expenses | 13,265.59 | 26,195.39 | |
| Other Expenses | 411.21 | 400.77 | |
| Direct Charitable Expenditure: | |||
| Distributions - as per Schedule | 21,540.00 | 19,882.00 | |
| Total Payments | 35,216.80 | 46,478.16 | |
| Net Receipts for the year | 4,328.66 | - | 7,002.84 |
| Increase in Current Liabilities | 20.69 | 0.90 | |
| Bank Balances at 1 July 2022 | 56,803.12 | 63,805.06 | |
| Bank Balances at 30 June 2023 | 61,152.47 | 56,803.12 | |
| Page 3 |
Rotary Club of Retford - Percy Laws Memorial Fund
Property Costs for the year to June 30th 2023
| Brown & Co. Fees (Management) Brown & Co. Fees - new shorthold tenancy Property insurance Severn Trent - re: flats Anglian Water - re: flats Eon.Next - Flat 3A Repairs Gas safety checks Repairs to flat roof New toilet/cistern Flat 3A EICR remedial work Flat 3A Replace faulty pullcord Flat 3A Replace electric shower Flat 3A Replace electric hob Flat 3A New radiator Flat 3A Leaking sink Flat 3 Other Flat 3A deep clean Flat 3A repair/replace bathroom floor Flat 3A new vinyl floorcovering - bathroom BDC Council Tax - Flat 3A Jones & Co. Legal fees re: lease renewal - tattoo parlour Jones & Co. Legal fees re: first registration of property Total Other expenses for the year to June 30th 2023 Russell Scanlan - Trustee ins. PLMF Trustees' Expenses Total Page 3a |
3,613.14 480.00 1,576.27 36.67 216.29 50.29 132.00 1,295.75 125.00 462.74 107.04 372.72 558.96 654.00 72.00 956.00 300.00 100.00 734.32 1,225.20 197.20 |
|---|---|
| 13,265.59 327.26 83.95 |
|
| 411.21 |
Rotary Club of Retford - Percy Laws Memorial Fund
Balance Sheet as at June 30 2023
| Investments Freehold Property, 70 Carolgate, Retford Standard Life Wrap Investment (at cost) United Trust Bank Account Nat West (temporary holding) Total Investments Current Assets Nat West Accounts 9,892.57 COIF Deposit Account 48,171.51 TSB Treasurers Account 3,088.39 Total Assets Current Liabilities Rent Deposit Account 1 1,518.29 Rent Deposit Account 2 1,517.36 Total Liabilities Total Net Assets Capital Fund Balance brought forward 498,053.57 Addition to capital 189.55 Accumulated Fund Undistributed Income carried forward Total Page 4 |
£ 400,000.00 73,418.13 - 24,811.98 498,230.11 17,003.22 35,171.51 61,152.47 4,628.39 559,382.58 1,507.94 1,507.02 3,035.65 556,346.93 497,897.85 155.72 498,243.12 58,103.81 556,346.93 |
2022 400,000.00 73,418.13 24,622.43 498,040.56 56,803.12 |
|---|---|---|
| 554,843.68 3,014.96 |
||
| 551,828.72 498,053.57 53,775.15 |
||
| 551,828.72 |
Rotary Club of Retford - Percy Laws Memorial Fund
Distributions Year Ended June 30 2023
| £ | ||
|---|---|---|
| Youth Committee - Blue Ice Cheerleaders equipment | 500.00 | a |
| Ordsall PCC - purchase 2 strimmers | 1,000.00 | a |
| Robin Hood Swimmers | 1,000.00 | a |
| St Vincent de Paul Society - purchase school uniforms | 500.00 | a |
| St Joseph's Church Hall - toilet upgrade | 1,000.00 | a |
| Jamie's Legacy -HUGS | 400.00 | a |
| New Roots - Individual awards | 1,000.00 | a |
| Grove Street Methodist Church - doors | 1,000.00 | a |
| Elizabethan Academy - Wellbeing Garden | 1,000.00 | a |
| Torworth Playing Fields - Accessible Toilet | 1,400.00 | a |
| Aurora Wellbeing - Family days out over Christmas | 1,000.00 | a |
| Hallcroft Food Hub | 1,500.00 | a |
| Bassetlaw Food Bank - Grow it/Fix it project | 1,000.00 | a |
| Rossington Hall Riding for the Disabled | 1,000.00 | a |
| Branching Out Young People's Fund - Christmas Dinner | 500.00 | a |
| Retford Civic Society - Retford in Bloom | 350.00 | a |
| NWAL Womens Refuge - Christmas Party & Gifts | 1,000.00 | a |
| Jo Screeton - Lifesaving | 300.00 | a |
| Rampton Primary School - Home Book Scheme | 1,000.00 | a |
| St Saviour's Church - Snuggle Boxes | 100.00 | a |
| Bassetlaw Foodbank - Fuel Poverty Vouchers | 1,000.00 | a |
| Sundry Matchfunding | ||
| Bread Fund | 500.00 | a |
| Swimathon - trophies | 500.00 | a |
| Santa Run - purchase banner | 100.00 | a |
| Match-funding of Retford Club Committees | ||
|---|---|---|
| Youth Committee - Laura Maddock, Jamboree | 100.00 | a |
| Youth Committee - Daneshill Sailing Day | 275.00 | a |
| Community Committee - Ranskill School - books | 250.00 | a |
| Community Committee - Stephen House equipment | 750.00 | a |
| Community Committee - Hope equipment purchase | 515.00 | a |
| Community Committee - Stephen House Christmas Gifts | 200.00 | a |
| Community Committee - Hope Christmas Gifts | 500.00 | a |
| International Committee - Aquabox | 300.00 | a |
| Total Distributions | 21,540.00 |
Page 5