Charity roglstratlon number 1108493 (England and Wales) Company reglstratlon number 05217928 RUGBY BAREBOARDS TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
RUGBY BAREBOARDS TRUST LEGAL AND ADMINISTRATIVE INFORMATION Truslees WH Lewls CP B Malthous8 FAAlderman-DavFeS SH Flnch A Carrington {Appolnted 19 June 2024) {Appointed 19 June 2024) (Appointed 19 June 2024) Charlty number (England and Walos) 1108493 Company number 05217928 Regl8tor8d offlce 38 waen Road Rugby Warwickshire Unlted Klngdom CV22 5LG Imlepgndent examlner Cottons Specialist Services Llmited Chestnut Field House Ch8Stnut Fi8ld Rugby Warwickshire Unit8d Kingdom CV212PD
RUGBY BAREBOARDS TRUST CONTENTS Page Tmstees report Ind@pendent examlnels report Slatem8nt of flnanclal actlvitles Balance 8heet Notes to the financlal statements 6-14
RUGBY BAREBOARDS TRUST TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 AUGUST 2024 The trustees present theirannual report and finandal statements for th8 year ended 31 August 2024. The financial statements have been prepared in accordance wlth the accounting policies set ¢ut In nots 1 to thè financial 81at8ments and comply wlth the charlty's goveming document. the Companies Act 2008. FRS 102 rhe Flnanclal Reportlng Standard appllcable in the UK and Republic of Ireland" and the Charfties SORP 'Accountlng and Reportlng by Charities: Statement of Recommended Practlce appllcable to charltles preparing thelr a¢¢ounts In accordance wilh the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102)" ObJe¢tlves and actlvllles The relief of povety among persons living In Rugby and it's 8nvirons by means of collection, renovation and dlslribution of furnlture, carpets, curtains and other household effocts. in any way that the Charity's executiva Gommittee shall think fit. Publlc benefit The tNstees have pald due regard to guldance issued by the Charfty Commlsslon In decldlng what activities the charity should undertake. Flnanclal revlew For the year anded 31 August 2024, Fiugby Bareboards Trust generated a total in(x)me of £41,601 (2023: £38,681). reflectlng a modest Incraase as the charlty conllnu8d Its mlsslon lo support Indivldua18 and families in need 8cros8 the local Gommunlty. The charit8 main source of InMe continues to be from shop takings, which increased to £37.418 (2023: £33.292). Thls growth demonstrates sustained communty engagement and the Importancè of tha charlty's ratail outlet as b)th a fundlng stream and a practical support servi. Donation$ also IneaSed slgnlfficantly to £2.836 (2023-. £1,140), showing encouraging support fram the public. In additi(, £1,347 was received from the local council in recognition of the charlly's efforts to presaNe and repurwse items that would othenmse b8 sent to landflll, supporting both environmental and soclal alms. No Gift Aid income was received during the year {2023.' £2,825). Income from recycling activities rose to £1,347 (2023.. £1,146), refl8¢tlng Improved efficiency and value in this area. Total expenditure for th8 year wa8 £55,556 (2023: £53,119). resulling in a nel deficit of £13,955 (2023: £14,438 d8ficill. The Increase In costs reflects th Inflallonary prassures and contlnued Investment in supporting the charily's cora actlvllles. At the balanc8 sh88t dat@, total raserves stood at £161,316 (2Q23: £175,271). Th8 trusl88s are mindful ofth8 need to maintain sufficient reserves to ensure the sustalnablllly of the charlty's actlvltles and abllily to respond flexibly to the needs of the community. The current level of r6serves remains healthy and provides a reasonable buffer to support ongoing operations, despit8 the y8ar-on-y8ar deflcit. Donated goods and stock v81uadon The charlty recèivès a slgnrflcant quanfjty of donated goods including fumlture and household 8ssentials. Th8S8 ar8 elther sold In the Charlty's shop or allocated to individuals In need, often in Goordination with referrals from local ¢ounclls. Where a beneficiary 18 unable to afford the full retail cost, goods may be provided at a reduced pri in accordanc8 wllh the Charlly's alm of relieving poverty. Due to the varlabillty In how these items are u8ed-eilher sold at market rat8 or distributed based on affordability- and the lack of a reliable fair value at the point of donation. the tDJst8es hav8 ¢onclud8d that it is not appropriate to rarA)gnise donated goods as stock In the flnanclal statèment8. Th1$ approach18 oonslstent wlth the Charfdes SORP IFRS 102}, whlch allows for non-recognftion where valuatlon cannot bo measurod rollably.
RUGBY BAREBOARDS TRUST TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 RGsaNgs polloy It Is the policy of the charity that unrestrf¢ted funds which have not d8slgnaled for a spgcific use Should be maintained at a level equivalgnt to between three and slx month's expenditure. The trustees consider that reserves at Ihls level wlll ensure that, in the event of a slgnlflcant drop In fijnding, they will be able to contlnue the charrty's current activllies while consideration is glven to ways In which addltional funds may b& ralsed, Thls level of reserv&s has been maintsin8d throughout the ygar. Structureg governanco and managgmgnt The charity Is a Company Ilmlted by guarantee, incorporated on 31 August 2004 and regi8lered as a charfly on 8 March 2005. The company was established undar a Memorandum of Asso¢lation whlch 88tablishad the objects and powers of the charltable company and Is governed under Its Artlcles of Associallon. In the event of the company being wound up members are required to contrlbute an 8mount not exceeding £10, The trustees. who are also th8 dlr8ctors for tha purp08e of company law, and who seNed durlng the year and up to the date of signature of tho flnanclal stalements were., WH Lewls CP B Malthouse FAAldeman-Davles SH Finch A Carrington (Appointed 19 June 2024) (Appointed 19 June 2024) (Appointed 19 June 2024) R9Gruilment and appolntment of trustees The number of tnjstees shall not be less than three but (unless othenNIsg d8terminod by ordlnary resolullon) shall rM)I be subject lo any maximum. No person other than a truste& retiring by rotatlon shall be appolnted or reappointed a trustee at any gonoral meeting unless., 1) he is recommended by th8 Irustee8', or 2) not less than fourteen nor more than than thirty-re clear days bgfore the dat8 appolntèd for the meetlng, notice executed by a member qualified to vote al the meeting has besn given to tha Charlty of the Inlention to propose that person for appolntment or r6appolntment stating the partlculars whlch would, if he were so appointod or reappointed, be reqUIr to be Included In the CharItS reglstsr of trust8es tog8ther with a notlce executed by that person of hls willingness to bo Appoint8d or reappointed. The trustees report was approved by the Board of Tru8tees. WH L8WiS Thistee SH Flnch Trustee 29 May 2025
RUGBY BAREBOARDS TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RUGBY BAREBOARDS TRUST I report to the trustees on my axamlnatlon of tha financlal statements of Rugby Bareboards Twst {th8 charlty) for the year ended 31 August 2024. Responslbllltles and basls of report As the tru8lee8 of Ihe charity land a180 its dlrector8 for the purposes of company lawl, you are responslble for the prepardtlon of the financial statements In accordance wlth th8 r@quirem8nts of the Companies Act 2006. You are 8atlsfied that the financlal statements of the chartty are nol required by Charity or (4)mpany law to be auditad and have chosen instead lo have an Indfjpendent examination, Havlng sallsfied myself th81 the financlal statements of the charlly ara not requlred to bg audited under Part 16 of the Companies Act 2006 and are ellglble for independent examlnallon, I report In respect of my examlnatlon of tha charity's financlal statements carried out under secllon 65 of the Charllies Aci (Norih8m Ireland) 2008 and sectlon 145 of the Charltles Act 2011. In catrylng out my examlnaljon I have followod the gan8ral Directions glven by the Charlty Commisslon for Norlhem Ireland under section 65{9)Ib) of the Charllles Act {Northern Ireland) 2008 and the Directions given by the Charily Commission under section 145{5}(b) of the Charilies Act 2011. Independent examinerfs statemenl I have completed my 8x&mination. I conflrm that no malters hav8 come to my attention in connection with the examlnatlon glvlng me cause to ballava that In any matarlal respect.. a¢¢ountlng rrdS were not kepl In respect of the charlty as requlred by section 386 of the Companlas Act 2008. thè flnanclal statemgnts do not accord wllh thosa records. or the fln8nclal statements do not comply wlth the ac¢ountlng requlrements of sectlon 396 of thg Companies Act 2006 other than any requirement that the financial statements give a Irue and falr vlew, whl¢h Is not a matter consldered as part of an independent examination. or the flnanclal ststemenls have not been prepared In accordance wlth thè methods and principles of th8 Statement of Recommended Practice for accountlng and reporting by charllles appllcable tr> charltles preparing their financial statements In accordance with the Financial Reportlng Standard applicable in the UK and Republic of Iwland (FRS 102}. I have no concems and have Come acrD88 no other matt8r8 in rA)nn8clion with the examination to which attentlon should be drawn in thls report In order to en8ble a proper undarstsndlng of the financial 8tatemenls to be r8ached. Jarnes Melvin BA BFP FCA Coltons Specialist Services Limited Chestnut Field House Chestnut Field Rugby Warwlckshlre CV212PD United Kingdom 29 May 2025
RUGBY BAREBOARDS TRUST STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024 Unreslrfctsd Unrgstricted funds funds 2024 2023 Notos Incomo from: Donations and legacles CharSiable activities Other trading activitles Inv88tm8nts 2,836 1,347 37.418 1,140 3,971 33,292 278 Total incom8 41,801 38,681 Expendlture on., Ralsing fund8 Charftable actsvilles 6,704 48,852 7,391 45,728 Total 8xpgndltur8 55,556 53.119 Net expendltur8 and movement in fund8 (13,955) (14.438) Reconclllatlon of funds.. Fund b8lanc8s 8t 1 September 2023 175,271 189,709 Fund balances at 31 August 2024 161,316 175,271 The ststement of financial activities includes all gains and losses recognised in tha year. All Income and expendlture derive from continuing activities.
RUGBY BAREBOARDS TRUST BALANCE SHEET ASAT31 AUGUST2024 2024 2023 Notes Flxed assets Tangible assets 14 135,400 135,400 Current assets Debtors Ca8h al bank and in hand 16 3,327 24,459 3,304 38,547 27,786 41,851 Credltors: amounts falllng due wlthln ong yqar 17 (1,870) (1,9801 Net current assets 25.916 39.871 Total assets less cuThent liabilitles 161,316 175,271 The funds of the charity Unre8tricled funds 19 161.316 175.271 161,316 175,271 The company is entitled to the exemption from the audil requirernent contained in section 477 of the Companies Act 2006, for the y6ar 8nd8d 31 August 2024. The dlrectors aL*nowledge their responsibilities for complying with the requirements of the Companles Act 2006 with respect to accounting rordS and th8 prep8ratlDn of fin8ncial 8t8lem8nts. The members have not requlred the company to obtain an audit of 118 financial 8tslements for the year In quesllon In accordance with section 476. These financlal statements have been prepared in accordance with the provision5 applible to companles subject to Ihe small Companies regime. The financial statements were approved by the trustees on 29 Moy 2025 WH Lewis Trustee SH Finch Trustee Company registration numb6r 05217928 (England and Wal88)
RUGBY BAREBOARDS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accountlng pollclos Charity informatlon Rugby Bareboards Trust Is a prlvate company limited by gu8rantae Incorporated In England and Walos. Thg reg18tered office Is 36 Warren Road, Rugby. Wawlckshlre. CV22 5LG, Unlt9d Kingdom. 1.1 Accounllng conventlon The financial statements have been prepared in accordanco with the charily's governlng document, thg Companies Act 2006, FRS 102 Yhe Financial Reporting Stsndard applicable in Ihe UK and Republic of Ireland. and th& Charllies SORP "Accounting and Reporting by Charities: Statement of Recommended Pracllce applicable to Charities preparing their accounts in accordance wlth Ihe Financial Reportlng Standard appIlble in Ihe UK and Republic of Ireland (FRS 102)" Th8 ¢harily Is a Publ1¢ Benefit Entity as d8fin8d by FRS 102. The charity has tsken advantag6 of th6 provlslons In the SORP for charltles not to prepare a statement of ca8h flows. The financial stalements ar8 prepared In sterllng, which is the functlonal currency of the charity. Monetary amounts th888 financlal statemgnts are rounded to the nearest £. The flnancial statements have b88n prepar8d undgr the historical cost convenllon. The prlnclpal accountlng pollcl&s adopted ar& sel out below. 1.2 Going concern At the Ilme of approvlng the Ilnanclal ststsmants. the trustees have a reasonable expectallon that the charify has adequate resources to ¢ontlnue In operallonal exlstence for the foreseeable future. Thus th8 trust888 continue to adopt the golng concern basls of accountlng in preparing the financial sts18ments. 1.3 Charitable funds Unrestdctad funds ara availab18 for us8 at th8 discrallon of lh8 trustees In furtherance of Iheir charltable oble¢tlves. Restricted funds are subject to specific conditions by donors or grantors as lo how they may be used. The purposes and uses of the restricted funds are sel out in the notes to the financial statements. Endowment funds are subject lo spèckfic condltlons by donors that the capital must be maintalned by the charity. 1.4 Incomè Income Is r6cognis8d when the charity is legally entit18d lo it after any p8rfomianca condltlons have been met. the amounts ¢an be m8asur8d r@liably, and it is probable that income will be racelved. Cash donations are recognised on recelpt. other donations are recognised once the charlty has been notffiad of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gifl Aid or deeds of covenant is recogni8ed at the tim8 of the donallon. Legacies are recognised on receipt or otheThvl8e if the charity has been notified of an impendlng dlstributlon. the amount is known, and receipt Is 8XP8Ct8d. If tha amount Is not known, the legacy Is traatad as a contlngent asset.
RUGBY BAREBOARDS TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accountlng pollcl&s (Contlnued) 1.5 Expandlturè Expendlture Is recognlsed On there is a legal or constructive obligation to tranBfer @corMiC benefit to a thlrd party, it is probable that a transfer of economlc beneffts wlll be requlred In Settlement. and the amount of the obllgatlon can measured rollably. Expendlture Is das8rfied by activity. The costs of aach activlly aro made up of tha total of direct o)st8 and shared wsts, indudlng support costs involvod In undertaklng each actlvlly. Dlrect costs attrfbutable to a single actlvily are allocated dlrectly to that actlvlly. Shared costs which Gontribute to more than one actlvity and suppJrt costs whlch are not attributable to a single activity ar8 apportioned belw88n those activities on a basls consistent with IhB use of resourcos. Cgntfdl staff cosls are allocated on the basis of time spent and deproclatlon Charges are allocated on the portlon of the asset's use. 1.8 Tanglble flxed assets Tangible flxed assets are initially measured at cost and sub80qU8ntly measured 81 cost or valuation. n81 of depreciation and any Impairment losses. Depreciation is recognised so as lo writg off Ihe cost Dr valuation of assets less their residual values ovor Iheir usaful Ilve8 on the followlng bases: Freehold land and buildlngs Plant and equlpm9nl Computers Nll 25% stralght Ilne 25tyA straight line The gain or loss arlslng on the dlsposal of an asset is detemiined as the difference between the sale proceeds and the carrying value of th8 ass@t. 8rKI is r8cognls8d in the statement of flnancial activities. 1.7 Impalrmenf of flxed assets Ai each r@porting end date. the charity reviews tha carylng amounts of Its tanglblo assets to determlne whether thew Is any Indlcallon that those assets have suffered an ImpalMnt loss. If any such Indlcation exlsts, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any}. 1.8 stocks Stoc*s ar6 Stalad at the lower of ¢08t and estimated selling price les8 costs to complete and sell. Cost comprlses dlrect materlals and, where applicable, direct labour costs and those overheads that have been InCued in bringing the stocks to their present location and condition. Item8 held for distribution at no or nominal conSIderaOn arè measured the lower of repla¢ement Gost and cost. Donated goods are only recognised a8 Stock when the valu8 can be m8a8ured reliably. Where goods are distributed to benoficiarlas or ralained for discretionary allo¢atlon based on affordability, and no r81iabla falr valua can ba asslgned at the polnl of donation, such items are not recognised in Ihe financial statements, Thls Is ¢onslstent with the Charitie8 SORP IFRS 102}. 1.9 Cash and ¢ash equivalents Cash and cash equivalent8 include cash in hand, deposits held at call with banks, other short-temi liquid inv8Stm8nts with original maturities of thr88 months or1&88, and bank overdrafts. 3ank ov6rdraflg ar6 shown within bomwings In current Ilabllltlés.
RUGBY BAREBOARDS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 A¢¢ountlng poll¢io8 Icontlnued) 1.10 Financlal Instrumènts The charlly has elected to apply the provisions of Sactlon 11 'Basic Flnancial Instrumonts, and Sgctton 12 'Olher Flnanclal In81ruments Issu&s' of FRS 102 to all of Its financial instrumenl8. Flnanclal Instrument5 are recognlsed In the charit8 balance sheet when the ¢harlly becomes party to th6 contradual provl8ions of the instrument. Financlal assats and liabililles are offset, wmh the net amounts prasented In th& financlal statements, when there Is a legally enforceable righl to sel off the recognised amounts and there Is an intention to s8tt1@ on a net basis or to reallsa tha asset and settle tha Ilablllty slmultaneously. Bas1¢ financial assets Basic h'nanclal a88ets, whlch includ& dabtors and ¢a5h and bank balances, ar8 IniÉlally measured at transaction prfce Includlng transaction costs and are subsequentty carried at amortised cost uslng the effectlve interest method unless the arrangement constitut6s a financing transactlon, where the transadon Is measured at th6 pr&sent V81ue of th8 future rec&ipts discounted at a market rate of Interest. Financial ass8ts Glassified as r6ceSvable wlthln one year are not amortised. Basic financlal Jiabilitl Baslc financial liabilities, including credltors and bank loans are initially r&cognised at transaction pric8 unless the arrangement constitutes a financing transaclion, where th8 debt instrument is m8asured at the present value of Ihe fulur8 paym8nt8 discountsd al a marf(et rate of Interest. Flnancial liabilltles classlfied a8 payable wilhin ong year are not amortlsed. Debt inslrum8nls are 8ubsequ8ntly carri8d at 8rtISed cost. uslng th& effactlva Interest rate method. Trade credltor5 are obligallons to pay for goods or servi8 that have been acqulred in the ordinary cour8e of operations from suppliers. Amounts payable are classified as current liabllltles If payment Is due withln one year or less. If not, they are presontod as non-curr8nt Ilabllltl&s. Trade credltors are recognlsed initially at Iransactlon price and subsequently measured al amortlsed ct)st uslng the effective Interest method. Derecognltlon of financlal liabllltlos Flnanclal Ilablllties are derecognlsed when the Charfts contractual obllgallons expire or are dlscharged or cancelled. 1.11 Employee benefits The cost of any unused holiday enlillement is recognised in the period in which th& employ66'S S8rvlces ar8 reived. Terminallon benefits are recognised immediately as an expense whsn the charity 18 demonstrably committed to tèmilnate th6 8mploym6nt of an &mployee or to provid8 t8rmination baneflts. 1.12 Retirement benefrtB Payments to deflned contrlbutlon r6tlram8nt banefit sch8mas are charged as an expenso as th&y fall duè.
RUGBY BAREBOARDS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Crlucal accountlng estimates and Judg8m8nt8 In the appllcatlon of the charlty's accounting polScies, Ihe trustees are required to make judgements, estlmat6S and a88umptions about the carrylng amount of assels and liabllitie8 that are nol adIlY apparenl from olher source8. The estimate8 and assoclated assumptlons ar6 based on hlslorlcal 6xporlonce and other factors that ara con81dèred to bè relevant. Actual results may dlffer from those estlmalas. The ¢stlmates and underlying a&8umptions are reviewed on an ongoing basis. Revision8 lo accounting estlmates are recognisad In the period in whlch the estlmate is revised where Ihe revision affec1$ only that p@tlod, or In tha perfod o* the revision and fvture periods where the revlslon affect8 bolh current and future perfod8, Income from donatlons and legacles Unrè8trfcted Unrastrfctad funds funds 2024 2023 Donations and gifts 2,836 1,140 Income from charitable actlvitlo8 Unrgstrlcted Unrestricted funds funds 2024 2023 Other ¢harilable income Ancillary trading income other Income 1,347 1,146 2,825 1,347 3,971 Incomo from othor tradlng actlvltles Unrestrlcted Unrestrlcted funds funds 2024 2023 Shop income 37.418 33.292
RUGBY BAREBOARDS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 In¢ome from inveslments Unrestricted Unrestrlctèd funds funds 2024 2023 Intsrest r8c8lvable 278 Expendlture on ralslng funds Unrestrlcted Unra8trl¢ted fund5 funds 2024 2023 Tradlng ¢osts Operating charlty shops 6,704 7,391 Expendirg on charitable activltS08 Provlslon of Provlslon of household household Items Items 2024 2023 Dlrect costs Share of support and governance costs (see note 9) Support Governance 46,559 2,293 44,600 1,128 48,852 45,728 Analysls by fund Unrestricted fvnds 48,852 45,728 10-
RUGBY BAREBOARDS TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Support ¢o$ts allocatod to acdvltlès 2024 2023 Staff co318 Van expenses Repairs and renewals Insurance Advertlsing Computer expenses Telephon8 Bank chargés Other Gov8rnanc& ¢oÈts 37,031 3,371 502 2,945 88 55 1,327 1,081 159 2,293 34,979 4,325 267 2,612 88 215 951 779 384 1.128 48,852 45,728 Analysed belween: Provision of household items 48,852 45.728 10 Nat movament in funds 2024 2023 The net movement In fijnds Is stated after chargingl(cTrditingl: Feas payabla to the charlly's Independent examiner.. - for the Indepor)dent examination of the charity's financial statements - for olher finan(Mal servic8S 1,800 576 510 576 11 Trustsos None of the trustees (or any persons connected with them) received any remuneration, benefits or expenses from the charity during the year. 12 Employees The average monthly numbar of employees durlng the year was,, 2024 Numb&r 2023 Numbor Employment costs 2024 2023 Wages and salaries othar panslon costs 36,696 335 34,758 221 37,031 34,979 11
RUGBY BAREBOARDS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 12 Employees (Continuod) There were no employ6es whCe annual remuneratlon was more than £60,000. 13 Taxatlon The charity1$ gxempt from tsxation on Its activities becaus8 all its Income Is applled for charitable purposes. 14 Tanglble flxed 88sats Frgghold land and bulldlngs Plant and èquipment Computor$ Cost At 1 September 2023 135,400 18,000 790 152,190 At 31 August 2024 135,400 16.000 790 152,190 Depreclatlon and Impalrmenl At 1 S8Pt8mber 2023 16,000 790 16.790 At 31 Augusl 2024 16.000 790 16,790 Carrylng amount At 31 August 2024 135,400 135,400 At 31 August 2023 135,400 135.400 FreehcAd buildlngs have riot been depreciated, which is a deviation from the r8quir&mgnts of FRS 102 and the Charitigs SORP. Freehold buildings are inst8ad stated at cost. The Trustaes belleve that the resldual value of the freehold land and bulldlngs éxceads that of the historic cost, but that the c08ts of professional revolualion would not represent best use of charltable funds. 15 stocks Donatsd goods received for resale or distributlon. such as fvrnitur& and household Items, are not Included In the financial statements as stock due to the Inherent difficultias In valuing them reliably at the polnt of donation. The ¢harlty opèrates a model where donatsd goods are stored and dlstrEbuted to individuals in need, often referred L)y local Councils, In Iln8 Wlth its charftable objectives lo relieve poverty, th8 ch8rity may allocate goods to beneficiarles based on what they can afford, sometimes significantly below retail value. For example, if a bangficiary can afford only £1 00, suliablè Itams are provided withln that Ilmlt, èven If their market value Is hlgher. Where items are made availab16 for publlc sala through charity Shops, they are sold at retail value. However, du& to th8 variability in use - eith8r for sal6 or dlsergtlonary distribution - and the lack of a conBistenl. reliable fair value, the trustees conslder that 11 Is not appropriate to recognise donated stock in the financial slalements. Thls pollcy is in accordance with the Charities SORP IFRS 102), whlch permits exclusion of donatod stock from the accounts where fair value cannot be measured reliably. 12-
RUGBY BAREBOARDS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 16 Debtor8 2024 2023 Amounts falllng due wlthln one year: other debtors Prepayments and accrued Income 103 3,224 113 3,191 3,327 3,304 17 Creditors.. amounts falllng due wlthln one year 2024 2023 Other taxation and s(Kial $8(xrlty Other ¢redlttsr$ A¢¢ruals and deferred income 22 48 1.800 136 1,844 1.870 1,980 18 Rotlrement ben8flt 8ch8mè8 2024 2023 Defined contribution schemes Charge to profit or loss In respect of definwj contribution schemes 335 221 The ¢harfty operates a defined conlribution penslon scheme for all qu&iifylng employees. The assets of the stheme are h81d separat8ly from Ih088 of the charily in an independenlly adrninislered fund. 19 Unrestrlcted funds The unrestrlcled funds of the charity comprlse the unexpended balances of donatlons and grants whlch ar8 not subject lo specific conditions by donors and grantors as to how they may be used. These Include designated funds which have been set a8ide out of unrestricted funds by the truslees for specific purposes. At1 Septernb8r 2023 Incoming Res<Jur¢es At 31 August resources expended 2024 General funds 175,271 41,601 (55,556) 161.316 Prevlous year: Atl September 2022 In¢omlng Resources At 31 August resources expgndod 2023 General fund8 189,709 38,881 <53,119) 175,271 13-
RUGBY BAREBOARDS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 20 M6mber6' liablllty The company Is Ilmlled by guarantee, not havlng a share capital and consequ&ntly the liabillly of member8 Is Ilmit8d, subl8Ct to an undertaking by each member to contribut8 to the net assets or Ilabllkties of the company on wlndlng up such amoun18 as may be required not excegdlng £10. 21 Related party transactions There were no dlsclosable relaled paty transactlons durfng the year (2023- none). 14-