Charity registration number 1087068
SPALDING AND DISTRICT ROUND TABLE CHARITABLE TRUST FUND
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
SPALDING AND DISTRICT ROUND TABLE CHARITABLE TRUST FUND
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mr C McKenna |
|---|---|
| Mr J Parnell | |
| Mr D P Jackson | |
| Mr M J Cole | |
| Mr T J Bradshaw | |
| Charity number | 1087068 |
| Principal address | 1-4 London Road |
| Spalding | |
| Lincolnshire | |
| PE11 2TA | |
| Independent examiner | TC Group |
| 33 Boston Road South | |
| Holbeach | |
| Spalding | |
| Lincolnshire | |
| PE12 7LR |
SPALDING AND DISTRICT ROUND TABLE CHARITABLE TRUST FUND
CONTENTS
| Page | |
|---|---|
| Trustees report | 1 - 2 |
| Statement of trustees responsibilities | 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 14 |
SPALDING AND DISTRICT ROUND TABLE CHARITABLE TRUST FUND
TRUSTEES REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The trustees present their annual report and financial statements for the year ended 31 March 2025.
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 and "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
Public benefit
The charity exists to raise funds for distribution to organisations and individuals in the local community of Spalding and district where a genuine need for financial assistance exists.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Grant making policy
All donations and payments are made only as directed by the members of Spalding and District Round Table Club in accordance with the club's own constitution.
Financial review
Policy on reserves
All of the charity's funds are restricted and designated to separate funds for the charity's specific purposes.
Structure, governance and management
Nature of governing document
The charity was created by a declaration of trust made on 26 February 2001 by the representatives of Spalding and District Round Table Club.
Recruitment and appointment of trustees
The charity is administrated by a management committee consisting of trustees. The trustees are appointed by members of Spalding and District Round Table Club in accordance with the governing document.
Financial instruments
Objectives and policies
The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.
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SPALDING AND DISTRICT ROUND TABLE CHARITABLE TRUST FUND
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Cash flow risk
The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures. Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.
Credit risk
The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments.
The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.
The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.
The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
Liquidity risk
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance.
Further details regarding liquidity risk can be found in the statement of accounting policies in the financial statements.
The trustees report was approved by the Board of Trustees.
Mr C McKenna
Trustee
Dated: 30 January 2026
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SPALDING AND DISTRICT ROUND TABLE CHARITABLE TRUST FUND
STATEMENT OF TRUSTEES RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2025
The trustees are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales 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 charity and of the incoming resources and application of resources of the charity for that year.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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SPALDING AND DISTRICT ROUND TABLE CHARITABLE TRUST FUND
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF SPALDING AND DISTRICT ROUND TABLE CHARITABLE TRUST FUND
I report to the trustees on my examination of the financial statements of Spalding and District Round Table Charitable Trust Fund (the charity) for the year ended 31 March 2025.
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 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts 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 financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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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 accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 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.
Josh Rowbottom
TC Group 33 Boston Road South Holbeach Spalding Lincolnshire PE12 7LR
Dated: 30 January 2026
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SPALDING AND DISTRICT ROUND TABLE CHARITABLE TRUST FUND
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 28,345 | - |
| Charitable activities | 4 | 129,585 | 107,575 |
| Total income | 157,930 | 107,575 | |
| Expenditure on: | |||
| Charitable activities | 5 | 142,152 | 88,002 |
| Total expenditure | 142,152 | 88,002 | |
| Net income and movement in funds | 15,778 | 19,573 | |
| Reconciliation of funds: | |||
| Fund balances at 1 April 2024 | 79,099 | 59,526 | |
| Fund balances at 31 March 2025 | 94,877 | 79,099 |
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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SPALDING AND DISTRICT ROUND TABLE CHARITABLE TRUST FUND
BALANCE SHEET
AS AT 31 MARCH 2025
| Notes Current assets Stocks 11 Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets The funds of the charity Unrestricted funds |
2025 £ - 7,264 87,613 94,877 - |
£ 94,877 94,877 94,877 |
2024 £ 379 8,903 77,817 87,099 (8,000) |
£ 79,099 |
|---|---|---|---|---|
| 79,099 | ||||
| 79,099 |
The financial statements were approved by the trustees on 30 January 2026
Mr C McKenna
Trustee
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SPALDING AND DISTRICT ROUND TABLE CHARITABLE TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
1 Accounting policies
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and "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)". 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 applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
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.
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SPALDING AND DISTRICT ROUND TABLE CHARITABLE TRUST FUND
FOR THE YEAR ENDED 31 MARCH 2025
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
1 Accounting policies
(Continued)
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.
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.
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charge allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
1.6 Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
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.
1.8 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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SPALDING AND DISTRICT ROUND TABLE CHARITABLE TRUST FUND
FOR THE YEAR ENDED 31 MARCH 2025
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
1 Accounting policies
(Continued)
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.
1.9 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.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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SPALDING AND DISTRICT ROUND TABLE CHARITABLE TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
3 Income from donations and legacies
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Grants and donations | 28,345 | - | |
| 4 | Charitable activities | ||
| Charitable | Charitable |
||
| Income | Income | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Beer Festival | 129,585 | 107,575 | |
| 5 | Expenditure on charitable activities | ||
| Charitable | Charitable | ||
| Expenditure | Expenditure | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Beer Festival | 112,274 | 72,613 | |
| Bank charges | 930 | 553 | |
| Sundry expenses | 1,363 | 96 | |
| Advertising & promotion | 7,421 | 2,842 | |
| 121,988 | 76,104 | ||
| Grant funding of activities (see note 6) | 20,164 | 11,898 | |
| 142,152 | 88,002 | ||
| Analysis by fund | |||
| Unrestricted funds | 142,152 | 88,002 |
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SPALDING AND DISTRICT ROUND TABLE CHARITABLE TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
6 Grants payable
| Charitable | Charitable | ||
|---|---|---|---|
| Expenditure | Expenditure | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Grants paid | 20,164 | 11,898 | |
| 20,164 | 11,898 | ||
| 7 | Net movement in funds | 2025 | 2024 |
| £ | £ | ||
| The net movement in funds is stated after charging/(crediting): |
8 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
9 Employees
The average monthly number of employees during the year was:
| The average monthly number of employees during the year was: | ||
|---|---|---|
| 2025 | 2024 | |
| Number | Number | |
| Total | - | - |
| There were no employees whose annual remuneration was more than £60,000. |
10 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
11 Stocks
| Stocks | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Raw materials and consumables | - | 379 |
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SPALDING AND DISTRICT ROUND TABLE CHARITABLE TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
| 12 Debtors Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 13 Creditors: amounts falling due within one year Deferred income |
2025 £ 5,532 1,732 - 7,264 2025 £ - |
2024 £ 8,300 - 603 |
|---|---|---|
| 8,903 | ||
| 2024 £ 8,000 |
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SPALDING AND DISTRICT ROUND TABLE CHARITABLE TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
14 Designated 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.
| Balance at 1 April 2023 £ Community Services Account Fund 35 Fundraising Account Fund 59,485 Fundraising Reserves Fund 6 General - 59,526 |
Movement in funds Incoming resources Resources expended £ £ - (35) 107,575 (87,967) - - - - 107,575 (88,002) |
Transfers Balance at 1 April 2024 £ £ - - (1,282) 77,811 - 6 1,282 1,282 - 79,099 |
Movement in funds Incoming resources Resources expended £ £ - - 157,930 (142,152) - - - - 157,930 (142,152) |
Transfers Balance at 31 March 2025 £ £ - - (5,982) 87,607 - 6 5,982 7,264 - 94,877 |
Transfers Balance at 31 March 2025 £ £ - - (5,982) 87,607 - 6 5,982 7,264 - 94,877 |
|---|---|---|---|---|---|
| 94,877 |
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SPALDING AND DISTRICT ROUND TABLE CHARITABLE TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
| 15 | Analysis of net assets between funds | |
|---|---|---|
| Unrestricted | ||
| funds | ||
| 2025 | ||
| £ | ||
| At 31 March 2025: | ||
| Current assets/(liabilities) | 94,877 | |
| 94,877 | ||
| Unrestricted | ||
| funds | ||
| 2024 | ||
| £ | ||
| At 31 March 2024: | ||
| Current assets/(liabilities) | 79,099 | |
| 79,099 |
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