Financial Statements Road Haulage Association Benevolent Fund For the year ended 31 December 2022 Charity number: 1082820
Road Haulage Assoclatlon Benevolent Fund Contents Page Reference and administrative details of the charityy its trustees and advigerg Trnst••s' rèport Ind•pond•nt •xamlnerfs r•port Statement of financial activities BalarbC• sh••t Notes to the flnanclal statemonts 7-12
Road Haulage Assoclatlon Benevolent Fund Reference and administrative details of the charity, its trustees and advisers For the ye2r ended 31 December 2022 Trustees Ir James Anthoni. french IChAirtnanl fr 11ndre W'illiam Ri)bert LI[2&n1)n-JellklnS (Vice C.hairn]an} Nlr Andrew Patrick I%Lith Boi.le Ir ill1dre Nl2cri£ e Trlrs l-ar()I l.cslLI. ()'Bticn NIS Etnnii& Ilictorii& ColliA5 Nlr Ncil K¢lli' 1155 Laura Blair Charity registered number 1082820 Address Roxdwai House, Brttton li'ai., Bretton, Peterborough, PE3 SDD Legal Status Tht Chariry. u'as cnnstituted under 2 trust deed d2tea 28 June 21100 as amended b}? the 'Deed of Amendment, dated 13 OctLiber 2011. Chairnian Ir Jatne5 Klnthoni. French Independent Examlner Grant Thornton GND LLP Ch&irtered ilccounrant5, 12 - 15 Dllell SquAre I,eSt, Belfasr, BTI 6JH Page 1
Road Haulage Assoclatlon Benevolent Fund
Trustees, report
For the year ended 31 December 2022
The tn]sree% 8ul)mit their annuq& I rtp()rt the financial %tarement% ()f the R()ad Haulage Ass()ciati(Jn Benei'()lent
r,und ("The r'uncl") f()[ the i'e41r ¢nd¢d .31 December 2n22.
The financial Étatements hai'e been prepared in 1ccI)rclance '1th the i¢¢i)untinL pc)licie% set i)ut in N()te I t() the*e
fJnanaci&i1 8tatemtnt8 and c()mpl!' .-1th the C.hariry s Trusr l)eed, the current ttut()r1. requirements, the
rgquir¢ment% (If the chariti s ¥1)i'¢rninL, d()cument ancl the pr()i'i%i<)n% i)f the Statement [?[ Rec()mmendeLI Practice
ISl)Rl)} Ilcc(iunting &ind Rep()rting bi. Charities" effective l Jxnu&2ri, 21115.
Structure, Governance and Management
ThL R(Ikcl l-IkulagFL A%%i)cikti¢)n BLnLI"()ILnt funcl 1% rLgtyqtLrLd '1th thL C.haritt' C.()mmissi()n (RL&li%trati()n Numb¥r
1082820) &ind ha% been ci)nstituied uninc()rp()raied £2%S()ciati()n ii,hich is ¥()i-erned bi. the Trust Deed dated 28
Junc 2(m as amcnclc(I bi. thL 'DLLd <)f Amcn£lmcnt' clatLcI 1.3 Oct()bcr 21111.
Th¢ Fund was c%tabli%hcd ti) pr(>vidc rLlicf fri)m pi)vcrt)'. w()rking t<) h¢lp th()sc pe<)ple in hardship M,hi) arc. ()r have
been, ci)nAected with Ihe ,455()ciaii()n. The Fund <lCtiveli, fundr£2ises fr()m fflembers ()f the RHA and seeks to
cnntinu¢ its charitable w()rk thr()ugh the careful st¢u'ard%hip i)f its ¢xisting r¢s(iurces.
,¢. tru8t¢¢s are bri¢f¢d (In thcir l¢gal <)bligatii)n8 und¢r chariti. and ci)rpi)rat¢ la. th¢ c()nt¢nt ()f the D¢claratinn
()f Trust, the trustee deci1(1 tn1< kini pr()cesses nd recent financiai perf()rtn
Road Haulage Assoclatlon Benevolent Fund
Trustees, report (continued)
For the year ended 31 December 2022
Reserves policy
at .31 December 2022 unre%tricted reserl'es ere £861,294 (2021.. £872,451). The tru%ree5 aim t() maint&iin free
res<)urcL% in unrL%trictL(I fun£ls at i ILt'LI ,hICh CqUAtLS ti) appr(Ixim2tcl!' twelvc mi)nths ()f unrL8tricteLI Chargale
expendirure. The tru51ee8 C1)nlder rhi& t thi lei'el will pr()i-ide gufficient fund8 t() respi)nd r() pplicati()As f()r p()i-erti'
rLIiLf. Thl ¢ru8tLL% c()n%i(ILr that pLrii)d ()f N'LII'L mi)nth8 is sufficiLnt t<) pr<)vidL tlcxibiliti tnwards maximum
inci)tne ¥ener2ti()n fr()m rhe unrestricted fund t() meet the Pund's chqi ritable i)bjective5.
DLtring 2022, the trustees 111 unLlert<ike a reiTiew ()f rheir inie%tment 5trate%ry' and ci)n%ider th()se l¢)w-r]k ()ptI1)n t()
ini'LSt this l)a12nc¢ m(ii'ing f(Irw'ard. Thl Aim .111 l)¢. t(} gLnerat¢' 2 8u%t&iin¢'(l inc()mL 8trLq& m ti) tnablL thc Fund t()
Actively maniq%e and further it5 chaiitable i)bjectiVC5 Wlthin its risk
Road Haulage Assoclatlon Benevolent Fund Independent examiner's report For the year ended 31 Decefftber 2022 Independent examlnerfs report to the Trustees of Road Haulage Agsoclatlon Benevolent Fund (the 'charlty) We report to the charitj. Trustees OA m}, ex2miAation of the accounts of the chariti, for the itar ended 31 Dectmber 2022. Thi5 report is made 501eli' to the chariti s Trustees, a5 2 bodi.- in accord&2nce 1th Part 4 06 the Charilles IAccouAt5 and Reports) ReLvlations 2008. (lur MTork has been undertxken so that we might state to the charitv's Trustees those m&2rter5 li-e are required tu st<e to them in an Independent examiner's report and f()r n() uther purp()5t. T() Ih fullest cxtcnt pcrmittcd b}, law. wte do not accept nr assume rcspnnsibilit5' to an5'one othcr than thc chants, 2nd the chariry 5 Trusree5 as a bod}, for our work or for t.5 report. R•sponslbilltl•s and basls of rèport As thc 'fn]stees i)f thc charitl, s'ou are rcspunsiblc for the preparation of the accounts in accordance with the requiremenr5 OE the Chl& rities ilct 2011 I'the 2011 Act). 1¢ rcp()rt in re%p¢ct c)f our cxaminatir)n ()f the charitj % 8ccc)llnt8 carriLd ()ut undcr secti<)n 145 af th¢ 21111 Act and in carn'ing out m}- ex<imin2£ tion we haNe followed ail the applicable Direction5 giNen bi, the Charitt Cotnmi55ion undcr %cction 14i(5)(b) nf the 2011 Act. Independent examlnerfg Statement We haie cotllpleted our examin1 llon. IX e can confinn rhat no tnatters ve come to our attention connection with the examinatinn %iving us cause to beltei'e that in an}. material respect.. accounting rec()rds were ni)t Lept in respect of the ch&2rit)' a5 required b}. 5ecu()n 13U of the 2011 Act. or the Account5 do not accord with those record5', or the accuunts do nor ctJmpl)- with the ApplicAble requirement5 concerning the furm 14 nd COArent OE accounts 8¢t r)ut in the (-h2riti¢s IAccnunt% and Repnrt%l RcKYulati()n% 211118 other th&n ani. requir¢mtnt that thc accounr5 give a ttue and fair lTie. hich 15 not mattcr con5idercd as part of an itLd£pendent exatninatiOA. Xe have no concerns and have come acrubs no orher marrcts in connection 1th the exan]inallon ro ivhich attention %hould bt dr&'n in thi% repi)rt in nrdtr tn enable i proper under%tanding nf the accounts to bt r¢ached. Signed.. Grant Thornton {NII LLP 12 - 15 Dontgall Squart W'est Belfkst BTI 6JH Page 4
Road Haulage Assoclatlon Benevolent Fund Statement of financial activities For the year ended 31 Decefftber 2022 Unresiricted funds Total funds Tntal funds 2021 2022 2022 Note Ineom• from: Charitable activiues 33261 33,261 27,693 Total Income 33,261 33,261 Exp•ndlture on: (-haritablc actsi'itics ()thcr expenditure 32,444 11,974 32,444 11,974 211.5(1() 11,9311 Total expendlture 44,418 44,418 32.49() Net expendlture before other recognlsed galns and losses (11,157) (11,157) (11,157) (11,157) (4,803) {4.80.31 Net movement in funds Reconciliation of funds: Toral fuAd5 brought foN'ard 872,451 872,451 877,254 861,294 861,294 872.4_51 Total funds carrled forward The t]otes an pages 7 to 12 fnrm part OF tCe financial tatement%. Page 5
Road Haulage Assoclatlon Benevolent Fund Balance sheet As at 31 December 2022 2022 2021 Note Current asse1$ Debror5 228 Cash at bxnk and in hand 863,841 885.162 864,069 885,162 Credllors: amounts falllng due wlthln one year (2,775) (12.711) Net curr•nt ass•ts 861,294 872,451 N•t ass•ts 861,294 872.451 Charfty Funds Unrestricted funds 861,294 872,451 Total funds 861,294 872,451 The finAnciai statem£nts were approied b}r the Trustees on 2611012023 and signed on their behalf, b}.: Mr James Anthony French Ch2irman Of Trustees Type text here Th¢ not¢s on pagFe$ 7 to 12 fnmi p2rt of these fin2nci21 %tatement%. Page 6
Road Haulage Assoclatlon Benevolent Fund Notes to the financial statements For the year ended 31 Decembet 2022 Accounting policies 1.1 Basis of Preparation of financial statements The financial statements haNe been prepared under the historical cost coniTention with items recosed at co%t ()r tr&insacu()n Nalue utdess other,ise srated in the releianr n()tes ti) these &2ccnunt%. The ftnancial statemcrtts hai'c been prepared in xcci)raance with the Statement of RccommendLd Practice- IIccouAting nd Rtporrinx bi. CharÈrit5 tffectiNe l January. 2015 prepRring rheir ccounts in accurdance tith th¢ Financi21 R¢w)rtinLy Standard applicable in thc LTnitcd Kin&idi)m and Republic c)f Ireland (FRS 102) Charitie5 Ilct 2011. Road Haulage Association BeA,leAr I,"und c()nslltute5 a public benefit enury as defined b} FRS 102. Th¢ Road Haulage Assuciatiun BeneN'ulent Fund has taken advantage of the exemption to prepate a cg%hflow.%tatement on the ba%is that it small chariti,. 1.2 Income All income is recngnÉ%ed once the chariti. cntidem£nt tn thc incomc, it 18 pri)bable th2t the incntne ill be receii-.ed and the amount ol income receiiTlble can be measured reliabli.. F'or leLiacics. entitlcmcnt is takcn as the carlicr ()f thc datc (Jn ,b]ell eithcr.. the chariti, is athTare that probate hL2S been granted, rhe estare h&iS been fin&i1ised and notifjcation has been made bi, rhe CXL¢Ut<)r(%) tc) thL Trust that a distrihutii)n lI7 bc maa¢. ()r whLn A di%trihuti()n is recLivLd fri)m the esrate. Receipt of a legaci., in whole or in part, is onl}. considered prob&2ble .hen rhe amount c3n be mea%urcd rcliabli. and th¢ chariN. has b¢cn n()tifi¢d nf the Lxecutnr'% int¢ntinn tn make a distributinn. K'here leycies liape been n()uFied t() Ihe ch&riry', or the chariu. 15 <lThare ()1 the granting ()t pr()b&2te, and thc crit¢rig for incomc recogrntion h&ve not b¢¢n met. th¢n thc l¢gac}' is tr¢atcd as a contingcnt &sset and disclosed if m1reriRI. Dunared 5enTice5 or f1cilitie5 are rccoxni5ed Th.hcn the chariti. ha5 cointrol ui'cr the item, Rn}- conditions ssociited P1th the dnnated ittm hai'e been met, the receipt nf economic benefjt from the ust nf the chRritt- ()f thL itL'tn is pr()b&?ble and that LCI)n()mic benefit C14 n be mLasured reliabli.. In acc()rdancL T1th the (.'haritie8 .%()RP (FIL% 1112), tht general ioluntcer ume of the Friend% 18 nrjt recrjgnised and refer to the Trustees, repo)rr fur tllL)re information abuut their conrributiun. n rLCLjPt. dunatLd prc)FL%sional scTh'icLs Incl dun#tLd facilitics arL rLCUKFnisLd (jn thL basis c)f thL I'alue of the gift to the charin, which is the &imouAt the ch&irin' would h14 ve been 'illIng to pai, to obti& in %crn'i¢Ls (Ir fxcilities (If cquiN'alLnt cci)ni?mic bcnLfit ()n ¢hc ()P4-n market- a c()rresp¢)ndinLF Am()unt is then recognised in expenditure in the period of receipt. Page 7
Road Haulage Assoclatlon Benevolent Fund Notes to the financial statements For the year ended 31 December 2022 Accounting policles (continued) 1.3 Expenditure Fxpenditure 15 recoxni5ed once there 15 a legal or constructie obligation to tran51er economic benefit to a third parti,, it is probable that a transfer of economic bentfits will be required in sttdemcnt 2nd the am()unt i)f thL ()blIri[)n can bL mLi2%ufLd rLliabli.. L:"NpcnditurL is clR55ified b}. activipy. ThL Costs ()[ each activiry. are m&idc up of the trjtal of direct cii%t% and %hared co.%t8, including support cn8t8 iniolvcd in undertAkinx each a¢tiN'itt.. Direct costs attributable to a sin%le ACtiNity' are allocated directli. to that actiirir!.. Shared ci)8ts hich c()ntribute ti) m()re than i)ne actiNiti' 8upp()rt C(}St which re Aot attributablL to a SInr]L actti'iti, arL' appi)rtic)nLd bL'trwcc'n rhusc acti.1t1ls vn a basis cvnsistLnt with rhe use of resources. Cenrrai staff cosr5 art allocated on the basis of time spent, i& nd depreciation charges a1c)Cated ()n the pcJrtic)n (If ¢hc asset's use. Charitable actiirlties and G()i'ernanc¢ costs are costs incurred on the charitv's operatir>ns. including suppurt costs and costs relating t() the gO"ernanCe uf the chariy. apporlli)ned to charitable acuN"ities. GraAt5 pa3-14 ble are charged in the }'eaE ,hen the offer is made e.xcept in those ca5e5 where the uffer is cnnditionai, %uch grant% being reCi)grLiEea expenth.ture ii..h¢n the cnnditions attaching &rt fulfilled. Grant5 offered Subject to condition5 which have not been mer at the year end 14re noted a5 a commitmen¢ but niit Accrued as exptnditure. 1.4 Interest receivable Intere%t ()n funds htld i)n depi)sir is incliidtd hen receii'able and the m()iint can be tnea%ured reliabl), b)- thL' ¢h#riti" thib is num)all}' upun ni)tiFicalli)n o)f rhL intL'rLSt paid (Ir pA}'ablL b!. thL Bank. 1.5 Debtors Trade and other debtor% are recOlSed at the settlement amount after an}, trade discount nffered. Prepa}Tments are valued at the amount prepaid ner OE any trade di5COUnts due. 1.6 Cash at Bank and in hand Cash at bank and in hand include5 cash and shorr tertn highli liquid iAI'esrtnent5 With a short fflaturity, f three mr)nth8 nr le88 from thc datc nf ACqUj%ltion or npening of the dcpri%it or %imilar account. 1.7 Liabilities and provisions Liabihuts art reci)gnised .hell there I An nbbytiiit] at the Balance %heet date re%ult of a pist Ll'Lnt. it is probablL" that a tranbfLr o)[ LCI)nomic bLnLfir will bL rLquirL.d in sL'ttl¢mLnt, and the amo)unt of the setdement n be estimated reli&ibli,. Liabihties are recognised At the amount that the chariry, anticipatL% it Thill px}- t() scttlL thL dLbt ()r thL' amc)unt it has rLcLlI'Ld as xdi-ancLd px}-mLnt% f()r rhL good% or 5en-ice% it musi prni'ide. l)rni'i8ion8 re meaUred at the best e5titnaie of thc atnounis requircd to sertle the obligation. 11.'here the effect of the time value of monei. is material. the provision is based un the present lIu£ ()f thi)%e ami)unts, di%c(iunttd at the pre-tax disci)unr rate that reflect Iht risks specifjc to the liabilit).. 'I'hc unwina1rtL of thc discoun¢ is rccobmtscd th"ithin intcrcst pai'ablc and similar ch2r¥e5. Page 8
Road Haulage Assoclatlon Benevolent Fund Notes to the financial statements For the year ended 31 December 2022 Accounting policles (continued) 1.8 Financial instruments The charitt, onli. ha5 financial a55Ct5 and financial liabiliries ol a kind that qualifv a5 basic financial instruments. Basic financi21 instruments are initiaili. recognised at transaction value and subsequtntl} measurLd at thLir sLttlL'mLnt valuL 1th thL Lxccption uf bank loans which arL" subsLquently measurL.d t xmortised cost using the effecupe intercst method. 1.9 Fund accounting General Funds &2re unrestricted funds which arc aN'ailable for use at the discretion of the Trustees in EurthLrincc ()f the FeLrI7 ()bjcctyvcs <)f the charitt." and which haiTC n()t bccn desibynatcd fc)r athcr purposes. 1.10 Fixed Asset Investments InN"e51menrs are ini014 ll!, recognised At their transactiun value and 5ubsequendi' meabured at their marker ue at the Balance Sheet date ll%ing the cli)%inL qunted market price. The StAtement of Fit]ancial IIclliTities include5 the net k7ain5 or losses ri5inkr on rei'aluation and d55POSLi15 thruu&Fhout the }'ear. Taxatlon statllg Th¢ compan). is a chariti, and has cx¢mption from Corporation Tax. Analysls of Exp•ndltur• by •xp•ndltur• typ• Othet costs Tutal 2022 2022 2U21 Charitable cases lanagemenr 2nd 2dtniAistratiun OF rhe Fund 32,444 11,974 32,4H 11,974 20.566 11,930 44,418 44,418 32,496 Total 2021 32,496 32.496 Related Iransaclions and trustees 'expenses ¥nd remyneralion. No salaries or wagt% have been paid ta emplo}-ee8, including the members of the Board nf Tru%tees during this ur rhe previuus jear. ThL. r,und rLimbut%L% rhL sp()ns()iinK I)rLnIs4 ti()n (R()ad HaulaKFL Asso)ciation l.imitLdl lor the KLnLra] admini8tr2& unt] of the Fund and dei& ling with drjnauon requ£%ts nn a dai. ti) da}. basi5. This pa}'ment for the }ear r() 31 December 2022 wa5 £11,97412021'. £10,560) Page 9
Road Haulage Assoclatlon Benevolent Fund Notes to the financial statements For the year ended 31 Decembet 2022 staff costs The charit5. has t]0 empln}ees ather than the Trustees, who did rkot recei&e ani. remuneration12021 - £NIL). No emplo}ree received rtmuneration amounting to more than L60,000 in eÈther l'ear. Debtors 2022 2021 ATnount5 owed bi, group undettakings 227 Creditors: Amounts falling due within one year 2022 2021 Am(iunts i)wcd tu L*roup undcrtakinLFS ..Iccruals and deferred income 1fl.n(Il 2,650 2,775 2,775 12,711 Page 10
Road Haulage Assoclatlon Benevolent Fund Notes to the financial statements For the year ended 31 Decembet 2022 statement of funds ststement of funds - Cyrrenl year Balance at 31 December Balance at J January 2022 Income Expenditure 2022 Untestricted funds GLnL'ral f,undb all funds ()ther (Yeller funds 868,022 4,429 868,022 (6,728) 33.261 (44.418) 872,451 33,261 (44,418) 861,294 Stattmtnt of funds - prfor y•ar Balance at l Januari. 2021 Bai2£ nce at 31 December 2021 Incom Expendirure Unrestricted funds Genen41 Funds - all funds Qther General funds 868,022 9,232 868,1122 4.429 27.693 132.496) 877.254 1_32.496) 872.451 Page11
Road Haulage Assoclatlon Benevolent Fund Notes to the financial statements For the year ended 31 Decembet 2022 Analysis of net a55ets between funds Analysls of n•t ass•ts betw funds- currnnt y•ar Unr¢5trict¢d funds Total funds 2022 2022 f.urrent assets Crediror5 due within one Treat 864,068 (2,775) 864,068 (2,775) 861,293 861,293 Analysls of n•t assots b•tw•on funds . prfor y•ar Untesrricted funds 2021 Total funds 2021 Current a55ets Crcdit¢)rs due within one j'ear 885,162 (12,7111 885,162 (12.711) 872,451 872,451 io. Capital eommitm•nts and eontiftg•nt liabilitiès There were nu capiiai ctJmniitmeAr5 or contingent liabilities at 31 Decemb£r 2022 (2021: NIL). Page 12