REFORM CLUB CONSERVATION CHARITABLE TRUST REPORT AND FINANCIAL STATEMENTS YEAR.ENDED 31 DECEMBER 2024 Charlty Number 1104820
REFORM CLUB CONSERVATION CHARITABLE TRUST UNAubITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 81 DECEMBER 9024 Page Reference and Administrative D'etai18 Tru8tee8' Annual Report ¥6 Independent Examinerf8 Report to the Trustee Statement of Financial Activities Balance Sheet Note8 to the Financial Statement8 10-18
REFORM CLUB CONSERVATION CHARrrABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 81 DECEMBER 2024 Regi8tered Charity Name Reforni Club Conservation Charitable Tru8t Charity Regi8trvdtion Number 1104820 Principal Office 104 Pall Mall London SWIY SEW The Thtee$ Dr Steve Wharton Dr Clllire Gapper Anthony Halmos Alan John80n Jackie Lam Melinda Moore ( Christopher Smallwood Independent Examiner Hay8Mac LLP io Queen Street Place I)ndOn EC4R IAG Banker8 Bank of Scotland plc PO Box 1000 Bxg ILB
REFORM CLUB CONSERVATION CHARITABLE TRusr TRUSTEES. REPORT FOR THE YEAR ENDED 81 DECEMBER 2024 STRtscfuRE GOVERNANCE AND MANAGEMENT The RefornL Club Conservation Charitable Trust (the 'Trust' or the "CharitK) wa5 eytablished under a Tru8t Deed dated ig February goo8. The Board of Tru8tee8 meet three times a year and more frequently* if required. The Trnst has no 8ubcomrnittee3. Section 8 { 1) of the Trust Deed state5: "There $hall be at least seven Trustee$ who shall comprise" (Name of the otTice holder8 on S l December 2024 in bra¢ket8) Ex-offici The Chairn]an of the Club (Christopher SMALLWOOD) The Chllir of the Finance Committee of the aub {David PTr EIFFER until IS January 2025, and Melinda MOORE from thi$ d&te.) The Chairman of the House and Fabric Committee of the Club (Anthony HAI:MOSI Tru8te One trustee of the Club nominated by the tru8tee8 of the Club (Dr Steve WHARTON) -.1 ct d.fru eesT mmit ee ivho shall be {Dr Claire GAPPER) {Mr Jackie Yu Hon LAM) from 18 September gog4 rs of the Llub not rs ste r servin members of t ral lec fth on-clu erin 1"ruste cr on who 18 not n ofthe ri membp Socie liib who 8hall be a te ei. 108 14, 5. (AIAn JOHNSON) min "rhe Chairman of the Ch&rit&ble Tru8t at 8 l December 18 Dr Steve Wharton. 8inTI' The following wa9 &ppointed Tru8tee in 2024: Jackie Lam lon 18 September gog+) OBJEcfivES AND ACTIVITIES The Trust waB founded to assi9t the Reform aub in carry out its duty of conserving the Reform Club building, a Gradc i listed building and it8 art collection, furniture, and artifacts. Thc building 1$ held by the Reform Club oll a 99 Year lease from the Crown Estate, which expires in 2084. Section 3 of the Trust Deed defines the Object8 of the Tru8t 'The Tru8tees 8h&ll hold the Trust Fund and it8 income upon Trust to apply thern for: (i) The preservation and enhancenient, for the benefit of the public, the Reform Club Building. located in Pall Mall by encouraging rea80nablc public acce8S to view its hi8toric and architectural features, art ollection, furniture and artefacts and (g) such charitable purpose8 as the Tru¥teeB in their absolute discretion from tiTne to time think fit"
REFORM CLUB CONSERVATION CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 81 DECEMBER 9024 The Trustee8 have given due regard to the Charity Commission's guidance on public benefit, when reviewing the lin and objectives. 14 making grants and planning future activities of the Charity." Future Funds received will automatically be applied to the Unrestricted Fund unles8 It IS specifically requested that the donation or legacy be applied to son speciflc purpose, in which ca8e it will be applied to the Restricted Funds. During the year £4(X) of donation3 were applied to the Unrestricted Fund and £38,5 10 was applied to the Restricted Fund. Gift Aid of £3.S65 was accrued for and claimed in gog4, all of which was applied to the Restricted Funds. Furthermore, during the year the charitable trust wa8 notified of a forthcoming substantial bequest of £5(K),(K)o. This bequest was formally confirmed prior to the reporting date, establishing entitlement and allowjng the amount to be measured reliably. Accordingly, the income has been recognised in the Statement of Financial Activities for the year ended s i December. -I"he cash was received after the year end, with the net amount received being £499,941). thi8 18 treated as an unrestricted donation. ACHIEVEMENTS AND PERFORMANCE During the year a new fundraising project wa8 launched.. the cleaning and painting of the lamps/flambeaux on the Club'3 Pall Mall balu8trade. The Trust al80 agreed to fund a 'Digital Twin, of the Clubhouse provided at a greatly reduced cost thanks to additional generous support in kind from a member. This will be helpful in future rcJtoration/renovation works as well as providing a snap8hot of the Clubhouse &nd its contentj in 2024. finally following an approach from the Club together with an undertaking on the part of the aub to u8c the purchase toward8 encouraging reasonable public acce88 to concerts and to support musical training and development - including performancej during IA)ndon open Ilou8e in Scptember of each year, reporting back regularly to the Trust on these activitie8 a decision was taken in September 2024 in support of fundraising toward8 the purcha8e of a Steinway D piano. The Trust held its annual 'Open Day,. in the Saloon of the aub Houje on 17 July gog4. A 8erie8 of information displays sought to raise aw&rene88 of the Trust's exi8tence and work, to Seck funds for current appeal8 and to say 'thank you, to donors. Tru8tce8 wcre present throughout the event to angwer questions. Publlc Acceb8 to the bulldlng and colleetion8 Open Hou8e London The Club ha5 taken part in Open Houge London ever since 4003, the year the Charitable Trust wa8 founded. In the first year, the aub House was open on Saturday only and we had $06 people visitor8. From £007 it wa8 extended to two days and over 500 visitnrs were welcomed. Open House London started in 199£ since when it has been encouraging owner¥ of architecturally and historic building8 to allow free tours. The event take8 place over a weekend in September. Tour8 of the Club House Since gcrf)S private tours of the Club House have al80 been organi8ed for which a suggested donation is requested. The tours take place by App)intment in tween 10 am and ig noon during weekday8. The groups are guided round the Club House by one or two volunteer guide8. Given low uptake postQovid. the Trustecg re801ved to give wider public notice to this opportunity via the Trust's planned web slte., to be launched in 2025. FINANCIAL REVIEW The net income showed a Surplus over expenditure of £585,645 {2028.. deficit £36, Ig3) after the indu8ion of the 'que¥t noted above. On J i December og4 the Th18t'$ ner &sset$ totalled £bVi>,bU'I (¥,u¥y.. £'iu,Iitig). The Tru8tees do have reserves policy which dictates that the Rcccfs Financial Re8erves are held for two main purp08e8:
i) To provide working capital to meet the need8 of the RCCCT and designated future activities Cthe "General Fund" J. ill To provide financial stability and security by making provisions against prudent risk8 the RCCCT might encounter [the "Contingency Fund" J The financial assets of the RCCCT are currently all cash at bank. "I'he Cyeneral Fund. item li). provides working capital to cover cashflow requirements. The Contingency Fund covers item (ii),. the Tru8teeB aizn to maintain it at around £ig,o(K), thi5 being a wuryt-ca8e estimate of the total financial impact of maintaining the activities of the RCCCT pending new income from donation8 and fundraising. Trust e8, tement in Res e Account8 I"he Trustee8 are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standardy (United Kingdom General Accepted Accounting I'ractice). lThe Fund's rules require the I"rustees tu prepare financial statements for each financial ycaT which give a true and lalr view of the $tate of affairs of the Fnd and thL' illLoine tiii¢J expLIitliturL fui. LliaL pgi'i()d. III piL'yai'iii those financial &tatement8 the Trustee$ are required to.. select suitablc accounttng policies and then apply them congi$tentlyi make judgemcnt.8 and accountinK estimates that are rca¥onable and prudent,. prepare the financial statements on the going concern ba818 unless it is inappropriate to presume that LIIL Ti'u¥L will LuIILiiiuL' iii busiiiess. aiid State whether applicable accounting standards have been followed subject to any material departure8 di¥c108ed and explained in the financial Statements. The"fru8tees arc rebponsible for keeping adequate accounting record8 which di¥LIo8e with reasonable accuracy at any time the finartcial position of thc Fund and to enal)Ic them to en8ure that the financial 8tatementN comply with General Directions given by the Charities Commiysionerg. 'fhey arc also responsible for SafeurdIng the asset8 of the Fund and hence for taking reasonable $tep8 for the prevention and dctcction of fraud and other irregularitics. 11]e TrusteC8 Annual Report was approvcd on 14 October go£.5 and Signed on behalf of thc Board of 'l"ru8tee8 by: Dr Steve Wharton Trustee
REFORM CLUB CONSERVATION CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE tRUSTEES OF THE REFORM CLUB CONSERVATION CHARITABLE TRUST FOR THE YEAR ENDED 8 1 DECEMBER s094 I report to the Tru8tee5 on my examination of. the financial statements of the Reform Club Conservation Charitable Trust for the period ended s i December £og4 which are set out on pages 8 to Ig. Respective re8ponsibilitie8 of TTU8tees and Examiner The Charity's Trustees are respon8ible for the preparation of the accounts. The Charity'8 Trustees con8ider that au audit is not required for this year under section 144 (2) of the Charities Act 20 11 (the £01 i Act) and that an independent examination 18 needed. I report in re8pect of my examination of the FundB accounts a8 carried out under section 44 (1) of the 25 Act and section 145 of the 2011 Act. In carrying out my examination I have followed the applicable Direction8 given by the Charity Conunission under section 145 (51 (b) of the goi i Act. Independent Examlner's Statement I have completed my examination. I confirm that no matters have come to my attention giving me cau8e to believe that in any material respect.. accounting record8 were not kept in respect of the Charity required by section 180 of the go I I Act; or the financial 8tatement8 do not accord with those records. or thc financial statements do not Lomply with the applicable requirements concerning the fortn and content of accounts set out in tho Charities (Account and Reports) Regulation8 £008 other than any requircmcnt that the accounts give A true &nd fair view which is not a matter considered as part of an independent examination. I have no concern8 and have comc acro88 no other matterg in connectiun with the examination to which attention should bc drawn in thi$ report in order to enable a proper understanding of the accounts to be reached. Simon Wilks ACA Hay8Mac LLP io Queen Street Place London :C4R IAG 14 Oct £025
REFORM CLUB CONSERVATION CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 81 DECEMBER 2024 gog4 2024 2024 2023 Unrestricted Restricted Fund8 Funds Note Total FundB Total Funds Income and Expenditure Income Donation8 and legacie$ Other income 500,4(K) 1,576 501.976 41,6715 542,075 1,576 543.6bl 58,273 2,861 Total Ineome 41,87 60.634 Expendlture Expenditure on charitable activitiej Independent Examiner Fee Governance costs Total expenditure ,1146 .¥uu 960 8,g46 8,800 960 94,4(1 75£ 8,(K16 8.006 96,757 Net income/{deficit) and net movement in Fund8 493,970 41,676 58b,646 86.128 Reeonciliydtion of Fund Total Fund8 Brought Forward Total Fund8 Carried Forward 96,525 520,495 44.887 70,868 606.507 106,98 86,019 70,869 The Statement of financial activities include8 all gains And1088e$ recognised in the year. All income and expenditure derive from continuing activitie8. The note8 on pages 10 to IS form part of these financial statements
REFORM CLUB CONSERVATION CHARITABLE TRusr BALANCE SHE AS AT si DECEMBER 9024 9024 2028 Current a88et8 Trade and other debtor8 Cash at bank and in hand 608,366 110,946 6,608 161,459 168,087 614,811 Creditor8: due within one year Trade and oth¢r creditor8 Net current afj8et• 7.804 606.507 97,g05 70,86g Fund8 of the Charity Unrestricted Funds Re8tricted Fund8 5£0,495 86,oig Q6,bg5 4*,337 70,86g Total Charlty Fund8 808,607 These financial 8tatement& were approved by the.'Board of Tru8tee8 and Authorised for i88ue on and are signed on behalf of the Board by.. Dr Steve Wharton Tru8tee 14 Oct g025 The not¢8 on pages 10 to IS form part of these financial statement8
REFORM CLUB CONSERVATION CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 81 DECEMBER g024 i. General infomation The Reform Club Conservation Charitable Trust 18 an unincorporated Charity governed by a Tru8t Deed and registered with the Charity Commi88ion in England and Wale5 under registered number 1104820. The principal addre85 is io* Pall Mall, IA)ndon SW IY SEW. The objectives of the Charity are Jet out on page Stydtement of cornpliartce These financial 8tatements have been prepared in compliance with FRsiog the Financial Reporting Standard applicable in the UK and the Republic of Ircland,, the Statement of Recommended Practice for Charities (SORP go ib. Second Edition, effective i January 2019) applicable to charitie8 preparing their account8 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ircland. S. Accounting policies Ba818 of preparvdtion The financial statemcnts have been prepared on the hi¥torical cost basis, as nwdified by the revaluation of certain financial assets and liabilitie8 measured at fair value through income and expenditure. The finHnr,iAI Ntnte.me.ntN arr, pre,pared in eterling, which is the functional ¢urrency of the entity. The Charity meets the definition of a public benefit entity under FRS log. Going Concern There are no material uncertaintie5 about the Charity's ability to continue &8 a going concern for at Icast twelve month8 from approving the &ccount$. Di8c108ure exernptiona lThe Charity ha8 taken advantage of the exemption in 'Bulletin L.. Amendment8 to Accounting and Reporting by Charitie$.. Statement of Recommended Practice applicable to ehArities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and RepubliL of Ireland" from the requirement to produce a cashfiow statement on the grounds that it i¥ a small Charity. Judgement8 and key 80urce8 of e8timation uncertainty The prepar&tion of the financial statements requires management to make judgements, estimates and assumptions that'affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectation5 of future events that are believed to bc re&sonable under the circumstance8. There are no areas involving a higher degree of judgement or complexityj or area8 where &88umptions and estimates are 8ignificant to the financial information. Fund accounting The Unrestricted Fund eomprises the capital account. which may be used for the payments of grants at the discretion of the "frustees. Income received during the year is credited to the Unrestricted Fund unless otherwi8e 8pecified by the donor. It is the "fru8tee5' intention that future grants will be paid out of the Restricted Fund which comprisetj income from specified donatl0115 when funds allow. Incoffle is applied to the Restricted Fund when it 18 Specifically requested that a donation should be uscd in a specified period. io
REFORM CLUB CONSERVATION CHARITABLE TRUST NOTFS TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED si DECEMBER 2024 Income All income 18 included in the statement of financial aclivities when entitlement has passed to the Charity* It is probable that the economic benefits associated with the transaction will flow to the Charity and the amount can be reliably measured. Donations are recognised when the 'l"rust has been notified in writing of both the amount and settlement date. Expenditure Expenditure 18 recogni¥ed once there is a legal or construction obligation to make a payment to a third party. it is probable that settlement will be required, and the amount of the obligation can be mea8ured reliably. Expenditure on charitable activities include8 all c08t8 incurred by a Charity in undertaking activities that further it8 charitable aims for the benefit of its beneficiaries, including those Support costs and cost8 relating to the governance of the Charity apportioned to charitable activitie3. Financial In8trument8 'I"he Charity only has financial a88et8 and financial liabilities of a kind that qualify a8 basic financial instruments. Basic financial instrument8 are initially recogni8ed at transaction value and subsequently mea8ured at their settlernent value. Cash at Bank Cash at bank and cash in hand includes cash and 8hort term highly liquid inve8tllLent8 Wlth a short maturity of three month8 or le85 from the date of acqui8ltion or opening of the deposit or similar account. Creditors Creditor8 and any provisions Are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the anwunt due to 8ettle the obligation can be mea8ured or e8timated rcliably. Creditor8 and provi8ion8 are normally recognised At their fjettlement amount after allowing for any tradc diBcounts due. 4. Donation8 and Legacles 9024 gog4 20g4 2028 Unre8tricted Funds Restricted Funds Total Funds Total Fund8 Donation8 Donations & legacie$ Gift Aid 500,400 88,310 5,365 38,710 S.365 52,824 5.449 000.400 41.676 54g.075 08,278 go£5 restricted income consisted of £27. 124 from Donations and £4,036 from Gift Aid.
REFORM CLUB CONSERVATION CHARITABLE TRUST NOTFS TO THE FINANCIAL STATEMENfs FOR THE YL4R ENDED 81 DECEMBER gog4 6. Expenditure on Charitable AetAvitie8 by Fund Type 2024 go94 gog4 2028 Unre$tri¢ted Fund¥ Re8tricted Fund8 Total Funds Total Fund Collection purchases Other charitable activity 89,549 £,858 9£,405 3,246 8.946 s,246 8,g46 gog8 re8tricted expenditure con518ted of£77,5t50. 6, Analy8ii of Support Co8t8 gog4 9023 Total Total Governance and related cout8 759 75g 7. Thtee0,. Remuneration and Expen8e8 None of the Trustee8, or perBoll8 connected with them, received remuneration or reimbursement of expenBe8 during the year or prior year. The Charity did not have any employee8 during the year. 12
- Analy818 of Charitable Funds At81 December 2024 At i January 2024 Income Expenditure Unre8tri¢ted Fund Restricted Fund 26,525 4,337 01,916 ,41,675 648,951 17,946) 520.495 86,012 606.507 70,862 7.948 At81 Deeember gog8 At i January 2028. Income Expenditure Unrestricted Fund Restricted Fund 16,258 90.727 49,474 81,160 60,684 (19,907) 77,550 96.757 ge,525 44,S87 106,980 70.862 18