Charity registration number 1082915 (England and Wales)
RHODI CHARITABLE TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
RHODI CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Ibrahim Vali Bux Hamida Bux Firoz Ibrahim Bux Asif Bux Rizwan Bux
(Appointed 17 April 2024) (Appointed 17 April 2024)
Charity number (England and Wales) 1082915 Principal address 1 Fishwick Park Mercer Street Preston Lancashire UK PR1 4LZ
Independent examiner
Xeinadin Ground Floor, Citygate Longridge Road Preston PR2 5BQ
RHODI CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Trustees report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 10 |
RHODI CHARITABLE TRUST
TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their annual report and financial statements for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
Objectives and activities
The objectives of the trust as set out in its governing document are:
To donate funds to support organisations/institutions internationally which provide religious or otherwise educations to poor and needy children.
To donate funds to support organisations/bodies which advance religion or provide public services;
Support and provide funds to organisations/institutions which relieve sickness and preserve and protect good health.
The charity's main objective is the relief of poverty. Rhodi Charitable Trust seeks to make immediate and lasting improvement to the lives of people affected by poverty and disaster.
The charity's aim is to achieve this by responding to peoples' needs in a way that is practical, innovative and cost effective.
Public benefit
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
Significant activities and achievements against objectives
The charitable trust has continued its commitment to assist local, national and international projects. In accordance to the charity’s aims and objectives. Donations have been made to various causes which the trustees consider to have provided Public Benefit. Financial assistance was also provided to various poor and vulnerable individuals such as orphans and widows who required funds for food, shelter and clothing.
The charity continues to operate and finance five Multi-Faith Facilities at various motorway service stations across the UK, providing a much-needed amenity to thousands of travellers.
Financial review
Reserves policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Structure, governance and management
Rhodi Charitable Trust is a registered UK Charity constituted on 24 February 2000 under charity number 1082915. It is an unincorporated charity. The governing document is a Trust Deed.
The trustees of Rhodi Charitable Trust decided to change the name from Rhodi Family Charitable Trust on 10 April 2013.
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RHODI CHARITABLE TRUST
TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees who served during the year and up to the date of signature of the financial statements were: Ibrahim Vali Bux
Hamida Bux Firoz Ibrahim Bux Asif Bux (Appointed 17 April 2024) Rizwan Bux (Appointed 17 April 2024)
Recruitment and appointment of trustees
The trustees have the power to appoint any person to be a trustee in accordance with the provisions of the Trust Deed. An appointed trustee holds office within the limits permitted by law.
The trustees actively review the major risk which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate the significant risks.
Induction and training of trustees
There are informal procedures in place for induction and training of new trustees. Trustees are also encouraged to attend external briefings and training courses.
The trustees report was approved by the Board of Trustees.
Ibrahim Vali Bux
Trustee
28 October 2025
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RHODI CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RHODI CHARITABLE TRUST
I report to the trustees on my examination of the financial statements of Rhodi Charitable Trust (the charity) for the year ended 31 December 2024.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
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I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011.
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Xeinadin
Ground Floor, Citygate Longridge Road Preston PR2 5BQ 28 October 2025
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RHODI CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 2 | 70,844 | 125,511 |
| Investments | 3 | 113,023 | 214,935 |
| Total income | 183,867 | 340,446 | |
| Expenditure on: | |||
| Charitable activities | 4 | 524,600 | 398,054 |
| Total expenditure | 524,600 | 398,054 | |
| Net gains/(losses) on investments | 8 | 139,574 | - |
| Net expenditure and movement in funds | (201,159) | (57,608) | |
| Reconciliation of funds: | |||
| Fund balances at 1 January 2024 | 1,332,441 | 1,390,049 | |
| Fund balances at 31 December 2024 | 1,131,282 | 1,332,441 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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RHODI CHARITABLE TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2024
| Notes Fixed assets Investment property 10 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 12 Net assets The funds of the charity Unrestricted funds 13 |
2024 £ £ 1,178,154 53,398 (2,298) 51,100 1,229,254 (97,972) 1,131,282 1,131,282 1,131,282 |
2023 £ £ 1,359,152 39,560 (2,299) 37,261 1,396,413 (63,972) 1,332,441 1,332,441 1,332,441 |
|---|---|---|
The financial statements were approved by the trustees on 28 October 2025
Ibrahim Vali Bux Trustee
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RHODI CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
Charity information
Rhodi Charitable Trust is a registered UK Charity constituted on 24 February 2000 under charity number 1082915. It is an unincorporated charity. The governing document is a Trust Deed.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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RHODI CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.8 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
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RHODI CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
2 Income from donations and legacies
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Donations and gifts | 70,844 | 125,511 | |
| 3 | Income from investments | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Rental income | 113,023 | 214,935 | |
| 4 | Expenditure on charitable activities | ||
| Charitable | Charitable | ||
| expenditure | expenditure | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Direct costs | |||
| Charitable expenditure | 498,813 | 357,379 | |
| Share of support and governance costs (see note 5) | |||
| Support | 25,787 | 40,675 | |
| 524,600 | 398,054 | ||
| Analysis by fund | |||
| Unrestricted funds | 524,600 | 398,054 |
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RHODI CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
5 Support costs allocated to activities
| Rent Building Insurance Cleaning Bank charges Repairs and maintenanc Rates & water Service charges Governance costs Analysed between: Charitable expenditure |
2024 £ 17,766 4,260 116 195 1,500 650 - 1,300 25,787 25,787 |
2023 £ 14,772 242 985 186 - 2,026 12,673 9,791 |
|---|---|---|
| 40,675 | ||
| 40,675 |
6 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
7 Staff costs
There were no staff costs for the year ended 31 December 2024 nor for the year ended 31 December 2023.
No employees received emoluments in excess of £60,000.
8 Gains and losses on investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| Gains/(losses) arising on: | £ | £ |
| Sale of investment properties | 139,574 | - |
9 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
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RHODI CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
| 10 | Investment property | |
|---|---|---|
| 2024 | ||
| £ | ||
| Fair value | ||
| At 1 January 2024 | 1,359,152 | |
| Additions | 2,000 | |
| Disposals | (182,998) | |
| At 31 December 2024 | 1,178,154 | |
| 11 | Creditors: amounts falling due within one year |
| 11 | Creditors: amounts falling due within one year | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Other taxation and social security | 1,700 | 1,700 | |
| Accruals and deferred income | 598 | 599 | |
| 2,298 | 2,299 | ||
| 12 | Creditors: amounts falling due after more than one year | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Other creditors | 97,972 | 63,972 |
13 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At General funds Previous year: At General funds |
1 January 2024 Incoming resources Resources expended Gains and losses At 31 December 2024 £ £ £ £ £ 1,332,441 183,867 (524,600) 139,574 1,131,282 1 January 2023 Incoming resources Resources expended Gains and losses At 31 December 2023 £ £ £ £ £ 1,390,049 340,446 (398,054) - 1,332,441 |
|---|---|
14 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
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