Rotary Club of Retford Percy Laws Memorial Fund
Annual Report for the year to 30 June 2024
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 2024 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 £37,151. Distributions were £14,844, with outstanding pledges of £1,950.
Net income was higher than the previous year, due to receiving 13 months’ rent in the year and due to higher interest income. The property expenses were also 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 4[th] 2024 and signed on their behalf.
Alan G Hirst
Alan G Hirst, Trustee
John 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 2024
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:
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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: 25 October 2024
Page 2
Rotary Club of Retford - Percy Laws Memorial Fund
| Receipts and Payments | Accounts for the year to June 30th 2024 | Accounts for the year to June 30th 2024 |
|---|---|---|
| Income Receipts | £ | 2023 |
| Property Rents (Incl. water bills) | ||
| (70 Carolgate, Retford) | 45,357.64 | 38,380.62 |
| Bank/Building Society & COIF Interest | 2,633.39 | 1,125.21 |
| D Hill - Anglian Water Bill | 51.29 | 39.63 |
| Total Receipts | 48,042.32 | 39,545.46 |
| Payments | ||
| Other Expenditure: | ||
| Property Expenses | 10,501.97 | 13,265.59 |
| Other Expenses | 390.12 | 411.21 |
| Direct Charitable Expenditure: | ||
| Distributions - as per Schedule | 14,844.00 | 21,540.00 |
| Total Payments | 25,736.09 | 35,216.80 |
| Net Receipts for the year | 22,306.23 | 4,328.66 |
| Increase in Current Liabilities | 43.73 | 20.69 |
| Bank Balances at 1 July 2023 | 61,152.47 | 56,803.12 |
| Bank Balances at 30 June 2024 | 83,502.43 | 61,152.47 |
| Page 3 |
Rotary Club of Retford - Percy Laws Memorial Fund
Property Costs for the year to June 30th 2024
| Brown & Co. Fees (Management) | 4,386.58 |
|---|---|
| Brown & Co. Fees - lease renewal - Tattooist | 360.00 |
| Property insurance | 1,736.31 |
| Severn Trent - re: flats | 41.32 |
| Anglian Water - re: flats | 381.64 |
| Repairs | |
| Gas safety checks | 186.00 |
| Replace ramp at Flat 3 | 2,658.00 |
| Replace lights and smoke alarm at Flat 3A | 281.52 |
| New kitchen tap Flat 3 | 177.60 |
| Repair ceiling hole Flat 3 | 78.00 |
| Report on damp patches Flat 3 | 50.00 |
| Hire cherry picker to examine roof/box gutter | 165.00 |
Other
Total 10,501.97 Other expenses for the year to June 30th 2023 Russell Scanlan - Trustee ins. 332.26 PLMF Trustees' Expenses 57.86 Total 390.12
Page 3a
Rotary Club of Retford - Percy Laws Memorial Fund
Balance Sheet as at June 30 2024
| Investments Freehold Property, 70 Carolgate, Retford Standard Life Wrap Investment (at cost) Nat West (temporary holding) Total Investments Current Assets Nat West Accounts 16,486.79 COIF Deposit Account 62,771.25 TSB Treasurers Account 4,244.39 Total Assets Current Liabilities Rent Deposit Account 1 1,540.16 Rent Deposit Account 2 1,539.22 Total Liabilities Total Net Assets Capital Fund Balance brought forward 498,243.12 Addition to capital - Accumulated Fund Undistributed Income carried forward Total |
£ 400,000.00 98,230.11 - 498,230.11 9,892.57 48,171.51 83,502.43 3,088.39 581,732.54 1,518.29 1,517.36 3,079.38 578,653.16 498,053.57 189.55 498,243.12 80,410.04 578,653.16 |
2023 400,000.00 73,418.13 24,811.98 498,230.11 61,152.47 |
|---|---|---|
| 559,382.58 3,035.65 |
||
| 556,346.93 498,243.12 58,103.81 |
||
| 556,346.93 |
Page 4
Rotary Club of Retford - Percy Laws Memorial Fund
Distributions Year Ended June 30 2024
| £ | |
|---|---|
| East Markham Primary School - New outdoor play equipment | 1,000.00 |
| Retford & Dist. Lifesaving Club - World Championships | 1,000.00 |
| East Markham Tennis & Bowls Club - Clubhouse repairs | 500.00 |
| Thrumpton Primary School - Flooding relocation | 200.00 |
| Jamie's Legacy - Kampala assistance with water in poor district | 600.00 |
| Cameron Duffy - Borneo Project | 250.00 |
| New Roots - Annual Activities | 1,000.00 |
| Harry Middleton - Borneo Project | 250.00 |
| Ordsall Parish Church - Flooring | 900.00 |
| Rossington Hall Riding for the Disabled - Replace hard standing | 510.00 |
| St Swithuns - Help with ne library | 800.00 |
| Scrooby Parish Council - William Brewster Mayflower Sculpture | 500.00 |
| Elizabeth Heard - Borneo Project | 250.00 |
| Retford Arts Hub - Refurbishment of signage etc. | 560.00 |
| Beckingham Primary School - Raising money to subsidise trips | 100.00 |
| Retford Civic Society - Retford in Bloom | 400.00 |
| Sundry Matchfunding | |
|---|---|
| Bassetlaw Foodbank - Fruit and Vegetable boxes | 1,524.00 |
| ? | Match-funding of Retford Club Committees Youth Committee - St Vincent de Paul Society - purchase school uniforms 500.00 Youth Committee - NCHA/Branching Out - help with Retford premises 1,000.00 Community Committee - Muddy Fork - Topsoil and poly tunnel covers 450.00 Community Committee - The Well - Two replacement projectors 425.00 Community Committee - All Terrain Buggy 625.00 Community Committee - NWAL Womens Refuge - Christmas Party & Gifts 400.00 Community Committee - BLDA - New equipment e.g. stereo system 400.00 Community Committee - Sarah Cherry Stroke Association 100.00 Community Committee - Hope - Warm Clothing, blankets and pyjamas 400.00 International Committee - Erustus Ormondi Education 200.00 Total Distributions 14,844.00 |
|---|---|
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