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2024-03-31-accounts

REGISTERED COMPANY NUMBER: 03665974 (England and Wales) REGISTERED CHARITY NUMBER: 1077645

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

RURAL COMMUNITY COUNCIL (LEICESTERSHIRE & RUTLAND)

Mark J Rees LLP Chartered Accountants and Statutory Auditors Granville Hall Granville Road Leicester LE1 7RU

RURAL COMMUNITY COUNCIL (LEICESTERSHIRE & RUTLAND)

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

Page
Report of the Trustees 1 to 8
Report of the Independent Auditors 9 to 12
Statement of Financial Activities 13
Balance Sheet 14
Cash Flow Statement 15
Notes to the Cash Flow Statement 16
Notes to the Financial Statements 17 to 26
Detailed Statement of Financial Activities 27 to 28

RURAL COMMUNITY COUNCIL (LEICESTERSHIRE & RUTLAND)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. 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 Charitable Objects of the Rural Community Council (Leicestershire & Rutland) (RCC) are to further any charitable purpose or purposes for the benefit of those who are resident or work in the rural areas and communities of Leicestershire and Rutland.

More specifically the RCC's mission is to ensure that all those who work and live in rural communities in Leicestershire and Rutland are provided with access to a range of opportunities, services, and facilities, which are sustainable and inclusive to all and are empowered to influence and manage their future.

The Trustees believe that all the activities undertaken by the charity are for the public benefit, and as part of their role as Trustees for the organisation ensure that future and proposed activities fit with the purposes of the charity, and that the charitable activities remain relevant to beneficiaries.

The Trustees can confirm that they have had regard for the Charity Commission Public Benefit guides as below:

Key elements of the RCC's work designed to meet the charitable activity outlined above can be summarised as;

Community Wellbeing

Rural Economy

Facilities and Services

Community Engagement and Voluntary Sector Support

Representation

Social Investment

Social investment does not form a material part of the charitable and investment activities of the RCC.

Page 1

RURAL COMMUNITY COUNCIL (LEICESTERSHIRE & RUTLAND)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

OBJECTIVES AND ACTIVITIES

Grant Making

The RCC does not make grants from its own funds or reserves. Grant programmes are delivered on behalf of partners, including local authorities.

Where this is the case, policy on grants, including eligibility, application processes and transparency are agreed on a by case-by-case basis with the funder.

Where grant funds are held by the RCC, they are held as restricted funds and detailed as such in the annual accounts.

Volunteers

The RCC does not routinely use volunteers in the day-to-day operations of the charity.

STATEMENT OF DISCLOSURE TO AUDITORS

As far as the Trustees/Directors are aware there is no relevant audit information of which the charitable companies' auditors are unaware. Additionally, the Trustees/Directors have taken all the necessary steps that they ought to have taken as Trustees/Directors in order to make themselves aware of all relevant audit information and to establish that the charitable companies' auditors are aware of that information.

Page 2

RURAL COMMUNITY COUNCIL (LEICESTERSHIRE & RUTLAND)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

ACHIEVEMENT AND PERFORMANCE Achievement and Performance

- Little Cup of Joy

The RCC continued to deliver this self-funded project aimed at reducing loneliness and isolation through the mobile provision of a barista style coffee van. The project delivered sessions across rural communities in both Leicestershire and Rutland.

- Warm, Optimistic and Well

Delivery of the second year of this project which supports individuals with issues relating to fuel poverty, access to warm spaces and basic skills in relation fuel budgeting and usage.

Work. Live. Leicestershire -

In partnership with six other sector organisations delivered against a £4.2M European Social Investment Fund grant through the Building Better Opportunities Fund. Further extension of grant funding obtained to further increase activity in identifying and engaging with those furthest from the job and training market and located in rural areas. The project ended in June 2023.

- Leicestershire Rural Partnership

Contribute to the understanding of rural community needs and action on the LRP board led by Leicestershire County Council.

- Halls Together

Support, guidance and training provided to the 300 village halls and community buildings across Leicestershire and Rutland. In depth enquires numbered over 250 during the year. Bespoke training courses delivered to over 200 delegates.

- Leicestershire and Rutland Playing Fields

Provide support and advice to play and sport organisations. The Trustees of this charity decided to wind up the organisation in mid-2023. Assets belonging to the charity were transferred to the RCC.

- Hinckley and Bosworth VCS Support

Delivery of Voluntary Sector and Volunteer support services in Hinckley and Bosworth.

- Hinckley and Bosworth Grants

Distributed grants in excess of £70,000 to rural community projects across the Borough.

- Community Woodlands in National Forest

Working with the National Forest Company and utilising National Lottery funding to engage with rural communities to develop small woodland area in villages.

- Harborough Community Development

Engaging with communities in the Harborough District regarding community expansion, use of development contributions and the provision of community facilities.

- Hinckley and Bosworth Mobile Hub

Working in partnership with the local authority to take their statutory and non-statutory services out into rural communities.

- Harborough HIRE (Helping Improve Rural Employability)

Using Shared Prosperity Fund monies to engage with those furthest from the employment market to increase skills and opportunities for employment in the Harborough District.

Page 3

RURAL COMMUNITY COUNCIL (LEICESTERSHIRE & RUTLAND)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

- Oadby and Wigston HIRE (Helping Improve Rural Employability)

Using Shared Prosperity Fund monies to engage with those furthest from the employment market to increase skills and opportunities for employment in the borough of Oadby and Wigston.

- Multiply

Partnering with Leicestershire County Council to delivery basic numeracy and maths skills to rural residents in the borough of Melton.

Fundraising activities

Individual projects undertaken by the RCC will generally have a set of output and outcome targets associated to them. Measurement and reporting of achievements vary depending on the requirements of the funder. However, the RCC will only undertake projects whose outcomes and outputs fit well with the overall objectives of the charity.

Reporting to funders and Trustees show that all projects met or exceeded set targets, thus meeting the objectives of the charity.

The RCC does not set an objective for fundraising. Projects are planned and funded on a full cost recovery basis wherever possible to ensure that the sustainability of the charity is protected.

Very low value donations are received in relation to the Little Cup of Joy project, which are used to further the activity in this area.

Investment Performance

The RCC continued to hold a Charities Ethical Investment portfolio with Church, Charities and Local Authorities Investment Management Ltd (CCLA) during this year. The value of investment increased in value by £22,200 during the year, which in the opinion of the trustees is consistent with the performance of other funds of similar risk rating and growth potential in the general market. The initial investment was made with the aim of gaining accumulated growth over the mid to long term, with a low to mid risk level. The trustees have decided to continue to maintain the investment as an accumulation fund, carrying the full value into the next financial year.

Holdings in Cirican LLP are valued at the original investment price of £3,000.

FINANCIAL REVIEW

Financial Position

The trustees consider the charity remains in a strong financial position and is able to continue to deliver its charitable objectives.

Principal Funding Sources

Income into the charity was broadly split between grants and contract or commissioned work, all of which the Trustees believe was charitable in nature.

Grant funding was received through DEFRA, Leicestershire County Council, the NHS, the National Forest and the National Lottery. The total funding from these sources is £179,204. Funded projects have varying end or renewal dates which are monitored by the Trustees.

Income through commissioned and contract delivery came from Cadent Gas Networks, Hinckley and Bosworth Borough Council, Harborough District Council, Oadby and Wigston Borough Council, Warwickshire Rural Community Council, the NHS, the Leicestershire and Rutland Playing Fields Association, Action for Communities in Rural England and Rutland Citizens Advice. Total income from these areas of charitable work was £353,987.

Investment Policy and Objectives

The Trustees have adopted a low to medium attitude to risk and have elected to invest some of its reserves in an ethical and balanced portfolio offered by CCLA. Other reserves are held in instant access, notice and fixed term accounts which provide a sufficient level of liquidity for the operation of the charitable company.

Page 4

RURAL COMMUNITY COUNCIL (LEICESTERSHIRE & RUTLAND)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

FINANCIAL REVIEW

Reserves Policy

The RCC has identified that a minimum level of unrestricted reserve funds should be set to counterbalance trading uncertainty and produce a base level for stability. Additionally, a target level of unrestricted funds will also be set to allow for growth and for the RCC to take advantage of strategic development opportunities going forward. Holding unrestricted but designated reserves will also allow the RCC to make cash and market investments in order to generated revenue income to cover day to day operational expenses. Based on the operating budget set for 2024/25 the level of unrestricted funds was set as below.

Minimum Level

Target Level - Nine months operating costs - £525,000 - Cover for redundancy costs - £5,000 - Contingent liabilities - £50,000 Total £580,000

Operating costs being defined as payroll costs plus direct purchases. Redundancy costs being the statutory level for all staff employed.

Designated funds are excluded from reserves as per the Charities Commission definition. The RCC Trustees have designated the following funds.

Going Concern

The Trustees consider the charity remains in a strong financial position and is able to continue to deliver its charitable objectives whilst remaining a going concern.

Funds in Deficit

The Trustees do not consider any funds to be materially in deficit.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The Rural Community Council (Leicestershire and Rutland) is a company limited by guarantee and a registered charity.

The charitable company is governed by its Memorandum and Article of Association which sets out the objects and powers of the charitable company.

Recruitment and Appointment of New Trustees / Directors

Trustees joining the RCC receive a full induction into the governance and operational activities of the charity. Policies and procedures are adopted across the business, so Trustees receive the same information as the Executive and staff teams.

Page 5

RURAL COMMUNITY COUNCIL (LEICESTERSHIRE & RUTLAND)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational Structure

The charitable company is governed by a Trustee Board which can accommodate between three and eleven Trustees. The Board selects a Chair and up to two vice chairs for each annual term at the AGM. Three Trustees are selected to serve on each of the sub committees, namely the Audit Committee and the Remuneration and Nominations Committee.

A maximum of eleven Trustees is allowed as below:

One representing Leicestershire County Council. One representing Rutland County Council.

Up to nine elected from the membership.

Co-options are permitted up to the maximum of eleven Trustees in total.

The Trustees are also the non-executive directors who have overall control of the charity. Operational matters are delegated to the Executive Directors, of which there are two. Below this level there operates a flat management and delivery structure.

The RCC is a member of Action for Communities in Rural England (ACRE).

Induction and Training of New Trustees / Directors

Policies and procedures adopted for the induction and training of Trustees:

Risk Management

A risk register is maintained and constantly reviewed to minimise any risks to the charity assets

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

03665974 (England and Wales)

Registered Charity number

1077645

Registered office

The Atkins Lower Bond Street Hinckley Leicestershire LE10 1QU

Page 6

RURAL COMMUNITY COUNCIL (LEICESTERSHIRE & RUTLAND)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Trustees

Mr E Baines (resigned 1.6.2023) Mrs P Crane Mr P H Durban Mr J H Flower Mrs H J Fryer Mrs J Martin Mr A D Mortimer Mr M J D Traynor OBE Ms P Posnett Mr C Fyfe (resigned 19.12.2023) Ms L Stephenson (appointed 30.10.2023)

Jennifer Lady Gretton DCVO JP is the President of the charitable company.

The Trustees/Directors delegate the day-to-day management of the charitable company to two employed Directors (distinct from the Directors of the charitable company).

Mr K Butcher and Mr S Howlett are Executive Directors of the charitable company.

Company Secretary

Mr K Butcher

Auditors

Mark J Rees LLP Chartered Accountants and Statutory Auditors Granville Hall Granville Road Leicester LE1 7RU

Page 7

RURAL COMMUNITY COUNCIL (LEICESTERSHIRE & RUTLAND)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The Trustees (who are also the directors of Rural Community Council (Leicestershire & Rutland) for the purposes of company law) are Responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the Trustees are required to

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

As far as the Trustees are aware:

AUDITORS

The auditors, Mark J Rees LLP Chartered Accountants, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 28 October 2024 and signed on its behalf by:

Mr M J D Traynor OBE - Trustee

Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF RURAL COMMUNITY COUNCIL (LEICESTERSHIRE & RUTLAND)

Opinion

We have audited the financial statements of Rural Community Council (Leicestershire & Rutland) (the 'charitable company') for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Page 9

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF RURAL COMMUNITY COUNCIL (LEICESTERSHIRE & RUTLAND)

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 10

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF RURAL COMMUNITY COUNCIL (LEICESTERSHIRE & RUTLAND)

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities outlined above, to detect material misstatements in respect of irregularities, including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with ISA's (UK).

We obtained an understanding of the legal and regulatory frameworks applicable to the charity and industry in which it operates through our general commercial experience. We determined that the following laws and regulations were most significant: FRS 102, Companies Act 2006 and Charities SORP (FRS 102).

We enquired of management concerning the charities policies and procedures relating to:

We enquired of management, whether they were aware of any instances of non-compliance with laws and regulations or whether they had any knowledge of actual, suspected or alleged fraud.

We communicated relevant laws and regulations and potential areas of fraud to all audit team members. We remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

We have determined that the principal risk areas where material irregularities could occur were related to posting manual journal entries to manipulate financial performance, income recognition and significant one-off or unusual transactions. We have identified that no manual journal entries were posted by management in the year and therefore no further work deemed necessary on this risk area.

Our audit procedures were designed to respond in particular to these identified risks (including non compliance with laws and regulations and fraud).

Our audit procedures included but were not limited to:

We did not identify any matters during the course of our work that indicated non-compliance with laws and regulations or relating to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 11

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF RURAL COMMUNITY COUNCIL (LEICESTERSHIRE & RUTLAND)

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Mr P Bott FCA (Senior Statutory Auditor) for and on behalf of Mark J Rees LLP Chartered Accountants and Statutory Auditors Granville Hall Granville Road Leicester LE1 7RU

30 October 2024

Page 12

RURAL COMMUNITY COUNCIL (LEICESTERSHIRE

& RUTLAND)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
190,404
Other trading activities
3
275,987
Investment income
4
19,554
Total
485,945
EXPENDITURE ON
Charitable activities
5
Grants
651
Other
491,211
Total
491,862
Net gains/(losses) on investments
22,183
NET INCOME/(EXPENDITURE)
16,266
RECONCILIATION OF FUNDS
Total funds brought forward
806,209
TOTAL FUNDS CARRIED FORWARD
822,475		 Restricted
funds
£
-
78,000
5
78,005
81,034
-
81,034
-
(3,029)
3,034
5		 2024
Total
funds
£
190,404
353,987
19,559
563,950
81,685
491,211
572,896
22,183
13,237
809,243
822,480		 2023
Total
funds
£
346,002
261,286
9,593
616,881
157,308
496,324
653,632
(3,453)
(40,204)
849,447
809,243

The notes form part of these financial statements

Page 13

RURAL COMMUNITY COUNCIL (LEICESTERSHIRE

& RUTLAND)

BALANCE SHEET 31 MARCH 2024

Notes
FIXED ASSETS
Tangible assets
12
Investments
13
CURRENT ASSETS
Debtors
14
Prepayments and accrued income
Cash at bank
CREDITORS
Amounts falling due within one year
15
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
17
Unrestricted funds:
General fund
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
11,172
194,206
205,378
13,066
3,695
692,235
708,996
(91,899)
617,097
822,475
822,475		 Restricted
funds
£
-
-
-
-
-
5
5
-
5
5
5		 2024
Total
funds
£
11,172
194,206
205,378
13,066
3,695
692,240
709,001
(91,899)
617,102
822,480
822,480
822,475
5
822,480		 2023
Total
funds
£
2,518
172,023
174,541
9,403
1,539
738,232
749,174
(114,472)
634,702
809,243
809,243
806,209
3,034
809,243

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 28 October 2024 and were signed on its behalf by:

Mr J H Flower - Trustee

The notes form part of these financial statements

Page 14

RURAL COMMUNITY COUNCIL (LEICESTERSHIRE & RUTLAND)

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Sale of fixed asset investments
Interest received
Net cash provided by investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2024
£
(50,538)
(50,538)
(15,013)
-
19,559
4,546
(45,992)
738,232
692,240		 2023
£
47,935
47,935
(322)
3,000
9,593
12,271
60,206
678,026
738,232

The notes form part of these financial statements

Page 15

RURAL COMMUNITY COUNCIL (LEICESTERSHIRE & RUTLAND)

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024

1.
RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM
OPERATING ACTIVITIES
2024
£
Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)
13,237
Adjustments for:
Depreciation charges
6,360
(Gain)/losses on investments
(22,183)
Interest received
(19,559)
Increase in debtors
(5,819)
(Decrease)/increase in creditors
(22,574)
Net cash (used in)/provided by operations
(50,538)
2.
ANALYSIS OF CHANGES IN NET FUNDS		 2023
£
(40,204)
1,907
3,453
(9,593)
(3,758)
96,130
47,935
At 1.4.23 Cash flow At 31.3.24
£ £ £
Net cash
Cash at bank 738,232 (45,992) 692,240
738,232 (45,992) 692,240
Total 738,232 (45,992) 692,240

The notes form part of these financial statements

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RURAL COMMUNITY COUNCIL (LEICESTERSHIRE & RUTLAND)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

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.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Governance costs

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fee.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 33% on cost Motor vehicles - 33% on cost Computer equipment - 33% on cost

Taxation

The charity is exempt from corporation 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

continued...

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RURAL COMMUNITY COUNCIL (LEICESTERSHIRE & RUTLAND)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Operating leases

Rental under operating leases is credited to income on an accruals basis and rental expenditure under operating leases are charged to the Statement of Financial Activities on the accruals basis.

Grants Payable

Grants payable are accounted for on the accruals basis when the grant has been approved by the Trustees.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Going Concern

The trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. The charitable company therefore continues to adopt the going concern basis in preparing its financial statements.

2. DONATIONS AND LEGACIES

Membership and donations
Grants		 2024
£
11,200
179,204
190,404		 2023
£
4,218
341,784
346,002

continued...

Page 18

RURAL COMMUNITY COUNCIL (LEICESTERSHIRE & RUTLAND)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

2. DONATIONS AND LEGACIES - continued

Grants received, included in the above, are as follows:

Leicestershire County Council
DEFRA/ACRE
Leicestershire NHS
Hinckley & Bosworth Borough Council
VISTA - Will project
Playing Fields Association
Awareness
Market Bosworth PC
BrightSparks
Houghton PC
National Forest
Rutland CAB
3.
OTHER TRADING ACTIVITIES
Services and project work
4.
INVESTMENT INCOME
Deposit account interest
5.
CHARITABLE ACTIVITIES COSTS
Grants		 2024
2023
£
£
34,725
11,199
47,215
41,200
46,925
37,250
-
4,000
5,859
236,690
-
2,145
-
1,500
-
2,400
-
3,000
-
2,400
35,480
-
9,000
-
179,204
341,784
2024
2023
£
£
353,987
261,286
2024
2023
£
£
19,559
9,593
Grant
funding of
activities
(see note
6)
£
81,685		 2023
£
11,199
41,200
37,250
4,000
236,690
2,145
1,500
2,400
3,000
2,400
-
-		 2023
£
11,199
41,200
37,250
4,000
236,690
2,145
1,500
2,400
3,000
2,400
-
-
341,784
2023
£
261,286
2023
£
9,593

continued...

Page 19

RURAL COMMUNITY COUNCIL (LEICESTERSHIRE

& RUTLAND)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

6. GRANTS PAYABLE

£
Community Volunteer Fund 7,281
Make A Difference 65,143
Coronation 8,609
NHS 602
Scouts 50
81,685

7. SUPPORT COSTS

SUPPORT COSTS
Other resources expended
Support costs, included in the above, are as follows:
Wages
Social security
Pensions
Service delivery costs
Vehicle expenses
Rates and water
Insurance
Rent and service charge
Computer costs
Postage and stationery
Sundries
Legal fees
Travel and subsistence
Depreciation of tangible fixed assets
Auditors' remuneration		 Support
Governance
costs
costs
£
£
485,398
5,813
2024
Other
resources
expended
£
372,831
24,732
18,690
9,617
4,438
4,993
6,343
9,984
7,363
1,332
1,324
7,723
9,668
6,360
5,813
491,211		 Totals
£
491,211
2023
Total
activities
£
371,151
25,364
19,092
9,300
2,134
8,513
5,123
21,770
10,526
3,598
1,268
1,960
9,118
1,907
5,500
496,324

continued...

Page 20

RURAL COMMUNITY COUNCIL (LEICESTERSHIRE & RUTLAND)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

8. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2024 2023
£ £
Auditors' remuneration 5,813 5,500
Depreciation - owned assets 6,361 1,907
Hire of plant and machinery 9,617 9,300
Other operating leases 4,438 2,134

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no Trustee's remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Trustees' expenses

There were no Trustee's expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

10. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2024
£
372,831
24,732
18,690
416,253		 2023
£
371,151
25,364
19,092
415,607

Total remuneration in relation to Key Management Personnel, included within the figures above, amounts to £88,654 (2023: £82,131).

The average monthly number of employees during the year was as follows:

2024 2023
Average number of employees 16 17

No employees received emoluments in excess of £60,000.

The charitable company operates a pension scheme for the benefit of employees. The assets of the scheme are held separately from those of the company within independently administered funds. Contributions are charged to the Statement of Financial Activity in the period to which they relate. The charge for the year was £18,690 (2023: £19,092).

continued...

Page 21

RURAL COMMUNITY COUNCIL (LEICESTERSHIRE & RUTLAND)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

11.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - 31
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
346,002
Other trading activities
136,286
Investment income
9,586
Total
491,874
EXPENDITURE ON
Charitable activities
Grants
4,388
Other
496,005
Total
500,393
Net gains/(losses) on investments
(3,453)
NET INCOME/(EXPENDITURE)
(11,972)
RECONCILIATION OF FUNDS
Total funds brought forward
818,181
TOTAL FUNDS CARRIED FORWARD
806,209		 MARCH 2023
Restricted
funds
£
-
125,000
7
125,007
152,920
319
153,239
-
(28,232)
31,266
3,034		 Total
funds
£
346,002
261,286
9,593
616,881
157,308
496,324
653,632
(3,453)
(40,204)
849,447
809,243

continued...

Page 22

RURAL COMMUNITY COUNCIL (LEICESTERSHIRE & RUTLAND)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

12.
TANGIBLE FIXED ASSETS
Fixtures
and
Motor
Computer
fittings
vehicles
equipment
£
£
£
COST
At 1 April 2023
12,465
15,295
10,783
Additions
-
12,995
2,020
At 31 March 2024
12,465
28,290
12,803
DEPRECIATION
At 1 April 2023
12,155
15,295
8,575
Charge for year
194
4,332
1,835
At 31 March 2024
12,349
19,627
10,410
NET BOOK VALUE
At 31 March 2024
116
8,663
2,393
At 31 March 2023
310
-
2,208
13.
FIXED ASSET INVESTMENTS
Listed
Unlisted
investments
investments
£
£
MARKET VALUE
At 1 April 2023
169,023
3,000
Revaluations
22,183
-
At 31 March 2024
191,206
3,000
NET BOOK VALUE
At 31 March 2024
191,206
3,000
At 31 March 2023
169,023
3,000
There were no investment assets outside the UK.
Cost or valuation at 31 March 2024 is represented by:
Listed
Unlisted
investments
investments
£
£
Valuation in 2024
191,206
-
Cost
-
3,000
191,206
3,000		 Totals
£
38,543
15,015
53,558
36,025
6,361
42,386
11,172
2,518
Totals
£
172,023
22,183		 Totals
£
38,543
15,015
53,558
36,025
6,361
42,386
11,172
2,518
194,206
194,206
172,023
Totals
£
191,206
3,000
194,206

continued...

Page 23

RURAL COMMUNITY COUNCIL (LEICESTERSHIRE & RUTLAND)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
15.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
VAT
Other creditors
Accruals and deferred income		 2024
£
11,163
1,903
13,066
2024
£
496
4,611
91
86,701
91,899		 2023
£
6,000
3,403
9,403
2023
£
429
5,024
4,268
104,751		 2023
£
6,000
3,403
9,403
114,472

16. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years		 2024
£
6,344
23,790
30,134		 2023
£
6,344
30,134
36,478

Lease payments of £6,344 (2023: £12,023) were recognised as an expense during the year.

17. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
HBBC VCS Commissioning Fund
TOTAL FUNDS		 At 1.4.23
£
806,209
3,034
809,243		 Net
movement
in funds
£
16,266
(3,029)
13,237		 At
31.3.24
£
822,475
5
822,480

continued...

Page 24

RURAL COMMUNITY COUNCIL (LEICESTERSHIRE & RUTLAND)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

17. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
HBBC VCS Commissioning Fund
TOTAL FUNDS		 Incoming
resources
£
485,945
78,005
563,950		 Resources
expended
£
(491,862)
(81,034)
(572,896)		 Gains and
Movement
losses
in funds
£
£
22,183
16,266
-
(3,029)
22,183
13,237

Comparatives for movement in funds

At 1.4.22
£
Unrestricted funds
General fund
818,181
Restricted funds
HBBC VCS Commissioning Fund
31,266
TOTAL FUNDS
849,447
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
491,874
(500,393)
Restricted funds
HBBC VCS Commissioning Fund
125,007
(153,239)
TOTAL FUNDS
616,881
(653,632)		 Net
movement
At
in funds
31.3.23
£
£
(11,972)
806,209
(28,232)
3,034
(40,204)
809,243
Gains and
Movement
losses
in funds
£
£
(3,453)
(11,972)
-
(28,232)
(3,453)
(40,204)

Page 25

continued...

RURAL COMMUNITY COUNCIL (LEICESTERSHIRE & RUTLAND)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

17. MOVEMENT IN FUNDS - continued

Restricted Funds

HBBC VCS Commissioning

Hinckley and Bosworth Borough Council (HBBC) commission the RCC to administer and distribute grants and commissioning monies to the Voluntary and Community Sector (VCS) across the Borough. This currently involves administration of a number of small grant schemes, namely, Making a Difference (MAD), Community Volunteer Fund (CVF), Warm Spaces Grant (WSG) and Coronation Grant (CG) The RCC market and promote the grants, undertake all administration of the applications, and make payments direct to beneficiaries. Decisions regarding grants are made by a grants panel, chaired by an elected member of HBBC and consisting of members of the VCS, including the RCC.

18. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.

Page 26

RURAL COMMUNITY COUNCIL (LEICESTERSHIRE & RUTLAND)

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
Restricted
funds
funds
£
£
INCOME AND ENDOWMENTS
Donations and legacies
Membership and donations
11,200
-
Grants
179,204
-
190,404
-
Other trading activities
Services and project work
275,987
78,000
Investment income
Deposit account interest
19,554
5
Total incoming resources
485,945
78,005
EXPENDITURE
Charitable activities
Grants to institutions
651
81,034
Support costs
Support costs
Wages
372,831
-
Social security
24,732
-
Pensions
18,690
-
Service delivery costs
9,617
-
Vehicle expenses
4,438
-
Rates and water
4,993
-
Insurance
6,343
-
Rent and service charge
9,984
-
Computer costs
7,363
-
Postage and stationery
1,332
-
Sundries
1,324
-
Legal fees
7,723
-
Travel and subsistence
9,668
-
Depreciation of tangible fixed assets
6,360
-
485,398
-
Governance costs
Auditors' remuneration
5,813
-		 2024
Total
funds
£
11,200
179,204
190,404
353,987
19,559
563,950
81,685
372,831
24,732
18,690
9,617
4,438
4,993
6,343
9,984
7,363
1,332
1,324
7,723
9,668
6,360
485,398
5,813		 2023
Total
funds
£
4,218
341,784
346,002
261,286
9,593
616,881
157,308
371,151
25,364
19,092
9,300
2,134
8,513
5,123
21,770
10,526
3,598
1,268
1,960
9,118
1,907
490,824
5,500

This page does not form part of the statutory financial statements

Page 27

RURAL COMMUNITY COUNCIL (LEICESTERSHIRE

& RUTLAND)

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
Restricted
funds
funds
£
£
Total resources expended
491,862
81,034
Net (expenditure)/income before gains and
losses
(5,917)
(3,029)
Realised recognised gains and losses
Realised gains/(losses) on fixed asset investments
22,183
-
Net (expenditure)/income
16,266
(3,029)		 2024
Total
funds
£
572,896
(8,946)
22,183
13,237		 2023
Total
funds
£
653,632
(36,751)
(3,453)
(40,204)

This page does not form part of the statutory financial statements

Page 28