Frome Selwood ## **2024-2025 Annual Financial Report to Club Members and Trustees** Attached is a summary of Frome Selwood Rotary account activity for 2024 – 2025. ## **Background** A full set of records for the year has now been compiled, inspected by Alan Aked and are available to all members. Account activity has been sent out on a regular basis and a final year summary has been sent to all members. Producing the accounts for this financial year has been problematic primarily because of the aggregation of payments for different club initiatives, miss posting of Charity income against the Club account by members or through the “Sum Up” machine or because of Frome banking arrangements with cash deposits being placed automatically in the Club Account but also because of part funding of some donations from shop income. The most important consideration has been to ensure all “charity” income has been correctly logged against the Charity Account. Members are reminded that it is illegal to use Charity account money against Club expenditure. I have made considerable effort to ensure all money is logged to the correct account and where possible to the correct activity. Whilst the “bottom line” is correct I cannot be absolutely sure that money has been logged against the correct activity. In reconciling Charity income against the Club account and therefore transfers out to the Charity account I note a discrepancy of £311.05. In order to comply with charity legislation that sum must now be transferred to the Charity account. I have reconciled income and expenditure for all accounts against banking transactions and am satisfied that the accounts correctly reflect overall Club activity. The following accounts have been inspected in accordance with section 43(2) of the Charities Act 1992: - **Club Account.** - **Charity Account.** - **Kids-Out Account.** ## **Club Account.** The account balance at the beginning of the year was £5,115.40 and the closing balance £6,203.94. This will be reduced to 5,892.93 to balance Charity income. This represents an increase in Club funds of £777.53 which is due primarily to income from “Remote” members. The mixing of Charity and Club funds (see above) is not advised and can easily lead to the illegal use of Charity money. For the current financial year, I am transferring any miss posted money to the correct account as we go along. It would be helpful if members transfer money separately for each account activity, for example Race Night Sponsorship – one transaction – Xmas Cards a separate transaction etc with an appropriate label against each. ## **Charity Account** The account balance at the beginning of the year was £6,276.94 and the closing balance £10.630.14 with £48.29 from the Club raffle held as cash. It is pleasing to note that despite our reduced numbers the Club generated significant sums principally through the Cheese & Wine Evening and Cheese Sales, Race Night, Cuisine Evening and Opus 111. It can be seen from the summary report that the Club donated over £12,600 to agreed causes. ## **Children’s Fun Day Account** The account balance at the beginning of the year was £10,513.69 and the closing balance £7,834.69 plus £500 held at Bath Building Society. There has been a deliberate policy to reduce the bank balance as it was considered excessive. The future of Children’s Fun Day is under scrutiny although there is a general consensus between Rotary Clubs that it should continue at Longleat. Over 1,008 local children were entertained in 2025. ## **Asset Overview** All three accounts are in a healthy position with income and expenditure under control. Whilst the loss of the shop has reduced income the success of other funding events has ensured the continuation of community support. The total cost of banking over all accounts totalled £184 however HSBC have decided to waive bank charges for next financial year. Accounts have been inspected and an independent examiners report is attached. As total income from the two charity accounts exceeds £10,000 it will be necessary to log income and post the _Accounts_ , _Annual Report_ and _Independent Examiners Reports_ onto the Charities Commission website. This will be done following approval by club members and trustees. Thanks go to Alan Aked for once again inspecting the accounts. ## **Geoff Cardnell** **Treasurer 25[th] Nov 2025** |**Frome Selwood Rotary - Charity Commission Return 1st July 24 - 30th June 25**|**Frome Selwood Rotary - Charity Commission Return 1st July 24 - 30th June 25**|**Frome Selwood Rotary - Charity Commission Return 1st July 24 - 30th June 25**| |---|---|---| |||| |CharityAccount Income||15,166
£| |||| |Childrens Fun DayIncome||17,650
£| |||| |||**32,816**
**£**| |||| |CharityAccount Expenditure||10,785
£| |||| |Childrens Fun DayAccount Expenditure||19,829
£| |||| |||**30,614**
**£**| |||| |CharityAccount Bank||10,630
£| |Childrens Fun Day Bank||7,835
£| |Childrens Fun DayBuildingSociety||500
£| |||| |||**18,965**
**£**| : - Independent Examiner’s Report on the Accounts - Report to the trustees of Frome Selwood Rotary on the accounts for the year ending 30" - June 2025. Respective responsibilities of trustees and examiner - The Charity’s trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 and that an independent examiner is needed. It is my responsibility to: Examine the accounts Follow procedures laid down in the general directions given by the Charity Commission - and state whether particular matters have come to my attention. - : « Basis of independent examiners statement My examination was carried out in accordance with General Directions given by the - Charity Commissioners. An examination includes a review of the accounting records kept - . | py the charity and a comparison of the accounts presented with the records. It also includes consideration of any unusual items of disclosure in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required by an audit and consequently | do - | not express an audit opinion on the accounts. Independent examiner’s statement | - In the course of my examination, no matter has come to my attention. 1) Which gives me reasonable cause to believe that in any material respect, the - : trustees have not met the requirements to ensure that: ; Proper accounting records are kept (in accordance with section 41 of the act) - and - A | Accounts are prepared which agree with accounting records and comply with the - rt accounting requirements of the act: or | 2) To which, in my opinion, attention should be drawn in order to enable a proper - 7 understanding of the accounts to be reached. . x7 J Sa r - Signed: ao i {~. HVierer Date: iy, Ee a ag Name: Alan P Aked - Relevant Professional Qualification or body: Retired Chartered Accountant