REGISTERED COMPANY NUMBER.. 06426134 (England and Wales} REGISTERED CHARITY NUMBER: 1123152 REPORT OFTHE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 FOR THE RATCLIFFE FOUNDATION BK Plus Limited 6 Manor Park Business Centre Mackenzie Way Chellenham Glouce51er5hire GL519TX
THE RATCLIFFE FOUNDATION CONTENTS OFTHE FINANCIAL STATEMENTS FOR THEYEAR ENDED 30 NOVEMBER 2023 Page Reference and Adminislralive Delalls Report of the Trustees Independent Examinevs Report Statement of Financial Activities Slatemeht of Flnanclal Position Notes to Ihg Financial Statements
THE RATCLIFFE FOUNDATION REFERENCE ANO ADMINISTRATIVE DETAILS FOR THEYEAR ENDED 30 NOVEMBER 2023 TRUSTEES M R Ratcliffe MBE Mrs P R Ratclille Mrs J S Hill REGISTERED OFFICE Wolseley House Oriel Road Chellenham Glouceslershire GL50 ITH REGISTERED COMPANY NUMBER 0&426134 {England and Wales) REGISTERED CHARITY NUMBER 1123152 INDEPENDENT EXAMINER BK Plus Limited 6 Manor Park Business Centre Mackenzie Way Chellenham Gloucestershire GL519rx Page I
THE RATCLIFFE FOUNDATION REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2023 The Iruslees who are also direclDrs of the charity for the purposes of the Companies Act 2006, present their report with the financial slalemenls of the charity for the year ended 30 November 2023. The Iruslees have adopted the provisions of Accounting and Reporting by Charitie5: Slalemenl ol Recommended Practice applicable to Charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and RÈpublic af Ireland IFRS 1021 lelleclive l January 2019). OBJECTIVES AND ACTIVITIES Objèctives and aims The objective of the Charity is lo receive donations and use them in support ol other local charities and deserving causes. Public benefit In planning the charills activities lor the year the Iruslees kept in mind the Charily Commission's guidance on public benelil. The focus of Ihe charity's activities during the year, which explains the delivery by the charily ol public benefit, is sel out below under'achievement and performance,. ACHIEVEMENT AND PERFORMANCE Charitable activities During the year the Charity received donations of £36,407, which was sufficient lo cover core costs and lo allow the Charity lo maintain ils support ol other local charitie5. FINANCIAL REVIEW Reserves policy The Trustees annually review the Reserves Policy bearing in mind the current and anlicipaled financial performance of the Charity. In recent limes, there have been additional challenges raised by the coronavirus pandemic and other global economic laclors lor the Trustees lo consider. Thè Trustees believe il is important ta monitor and assist whère appropriate the local charities lo which donations are made. This important a¢livily has seen increased costs since the strategy was formally introduced in January 2017 and Ihérelore it is appropriate for the Trustees lo maintain the c051-based reserves policy that was introduced al that time. The Trustees consider il appropriate for there lo be sufficient Unreslricled Funds lo cover 3-6 months, unreslricled charitable expenditure, excluding grants paid, in the unlikely event that therè is a material reduction in income. Based on the Slalemenl DI Financial Activities lor the year lo 30 November 2023, unreslricled charitable expenditure, excluding grants paid. amounted lo £8.587 12022.. £18,819) and therefore the policy would require unreslricled funds as al 30 November 2D23 of al least £1,880 12022.. £4,704). Unreslricled funds at the year-end were £5.812 12022.. £8,742), which therefore shows a surplus against the minimum largel ol the reserve5 policy 01 £3,93212022: £4,038). FUTURE PLANS The Trustees are satisfied with the achievements ol the Charity and will continue with the policy that il has established of supporting small charitable organisalions. STRUCTURE. GOVERNANCE AND MANAGEMENT Governing documenl The Ralcliffe Foundation was formed on the 13 November 2007 as a company limited by guarantee and is governed by its Memorandum and Articles ol Association as amended by Special Resolution dated 5 March 2008. Recruilmenl and appointment of new trustees The power to appoint new Iruslees is vested in surviving and continuing Iruslees. Page 2
THE RATCLIFFE FOUNDATION REPORT OFTHETRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2023 STRUCTURE, GOVERNANCE AND IIANAGEMENT Organisational structure The Charity is incorporated as a company limited by guarantee, and therefore il has no share capital, In the event ol the company being wound up and the liabilities antl winding up expenses bging in excess ol assets, the liability ol each member is limited lo £1. The charity is controlled by a Board ol Trustees, whlch meets Dn a regular basis. Risk management The Trustees actively review the major risks that the Charity laces on a regular basis and believe that maintaining ils current reserves policy, combined with an annual review DI Ihe controls over key financial systems, will provide sufficient resource for the Charity going forward. The Trustees have also examined other operational and business risks laced by the Charity and confirm that they have established systems lo miligale the significant risk5. STATEMENT OFTRUSTEES, RESPONSIBILITIES The Iru51ee5 (who are also the directors of The Ralclilfe Foundation lor the purposes ol company lawl are responsible for preparing the Report ol the Truslges and the financial slalemenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. Company law requires the trustees to prepare financial slalemenls for each financial year which give a true and fair view of the slate of affairs DI the charitable company and ol the incoming resources and application ol resources, including the income and expenditure, of the charitable company for Ihal period. In preparing those financial slalemenls, Ihe Iruslees are required lo select suitable accounting policies and then apply them consislenlly; observe the methods and principles in the Charity SORP., make judgements and eslimales that are reasonable and prudenl., prepare the financial slalemenls on the going concern basis unless il is inappropriate lo presume that the charilable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy al any lime the financial position ol the charitable company and lo enable them lo ensure that the financial slalemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets ol the charitable company and hence lor taking reasonable steps lor the preventlon and detection of fraud and other irregularities. This report has been prepared in accordance with the special provisions of Parl 15 of the Companies Acl 2006 relating to small companies. Approved by order of the board ol Iruslees on 28 August 2024 and signed on ils behalf by: M R Ralcliffe MBE Trustee Page 3
INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF THE RATCLIFFE FOUNDATION Independent examinerfs reporl ID thè Iruslees ol The Ratclilfe Foundatlon I'lhe Companll report lo the charity Iruslees on my examination of the accounts ol the Company for the year ended 30 November 2023. Re5ponsibllilies and basls of report A5 the charity's Iruslees ol the Company land also its directors lor the purposes ol Company law) you are responsible for the preparation ol the accounts in accordance with the requirements of the Companie5 Act 20061'the 2006 Acl'l. Having satisfied myself that the accounts of the Company are not required lo be audited under Parl 16 01 the 2006 Act and are eligible lor independent examination. I reporl in respect of my examination of your Charity's accounts a5 carried out under Section 145 01 the Charities Act 20111'lhe 2011 Acl'l. In carrying DUI my examination I have followed the Directions given by the Charity Commission under Section 145151 Ibl ol the 2011 Act. Indèpendent examlnerfs statement I have completed my examination. I confirm that no matters have come lo my allenlion in connection with the examination giving me cause lo believe: accounting records were not kept in respect of the Company as required by Section 386 01 Ihe 2D06 Act., or the accounts do not accord with those record5'. or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirèment that the accounts give a true and fair view which is not a maller considered as parl ol an independent examination., or the accounts have not been prepared in accordance with the methods and principles of the Slalemenl ol Recommended Practice lor accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Flnancial Reporting Standard applicable in the UK and Republic of Ireland {FRS 10211. I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the accoun15 to be reached. Roger F Downe5 FCA BK Plus Limited 6 Manor Park Business Centre Mackenzie Way Chellenham Gloucestershire GL519TX 28 August 2024 Page
THE RATCLIFFE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2023 30.11.23 Unreslricled fund 30.11.22 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 36.407 74,500 EXPENDITURE ON Raising funds 7,520 18.691 Charitable activities Charitable 31,817 47,128 Total 39.337 65,819 NET INCOMEIIEXPENDITURE) 12,9301 .681 RECONCILIATION OF FUNDS Total funds brought forward 8,742 61 TOTAL FUNDS CARRIED FORWARD 5,812 8,742 The notes form parl of these financial slalemenls Page 5
THE RATCLIFFE FOUNDATION STATEMENT OF FINANCIAL POSITION 30 NOVEMBER 2023 30.11.23 Unreslricled lund 30.11.22 Total funds Notes CURRENT ASss Debtors Cash at bank 6,250 4,852 8,247 8,247 11,102 CREDITORS Amaunls falling due within one year 10 12,4351 12,3601 CURRENT ASSETS 5,812 8,742 TOTAL ASSEfs LESS CURRENT LIABILITIES 5,812 8,742 mASSErs 5,812 ,742 FUNDS Unreslricled funds 5,812 8,742 TOTAL FUNDS 5,812 8,742 The charitable company is entitled lo exemption from audit under Section 477 of the Companie5 Act 2006 lor the year ended 30 November 2023. The members have not required the company lo obtain an audit of ils financial slatemenls for the year ended 30 November 2023 in accordance with Section 476 01 the Companies Act 2006. The trustees acknowledge their responsibilities for la} ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 01 the Companles Act 2006 and preparing financial slalemenls which give a true and lair view ol the stale of affairs ol the charitable company as al the end of each financial year and of ils surplus or delicil for each financial year in accordance with the requirements ol Sections 394 and 395 and which otherwise comply with the requirements ol the CDmpanies Act 2006 relating lo financial statements, so far as applicable to the charitable company. Ibl These financial slalemenls have been prepared in accordance with the provisions applicable to charitable companies subject lo the small companie5 regime. The flnancial slalemenls were approved by the Board ol Trustees and auiharised for issue on 28 Auyusl 2024 and were signed on ils behalf by.. M R Ralclifle MBE - Trustee The noles form parl of these financial slalemenls Page 6
THE RATCLIFFE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 30 NOVEMBER 2023 ACCOUNTING POLICIES Basis of preparing the flnanclal slatements The financial statements ol the charitable company, which is a public benefit enlily under FRS 102, have been prepared in accordance wilh the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Slalemenl of Recommènded Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 lelleclive l January 20191,, Financial Reporting Standard 102 The Financial RepDrling Standard applicable in the UK and Republic of Ireland, and the Companies Atl 2006. The financial statements have been prepared under the historical cost convention. Golng concern The charitable company relies on donations lor ils funding, which are naturally more uncertain in the difficult limes created by the current coronavirus pandemic and globallnational economic conditions. The charitable company has a low overhead cost base and uses the majority of the funding that it generates lo provide grants lo other charitie5. The directors have considered the level of funding required to sustain the overhead base for a period of more than twelve months from the dale ol approval ol these financial slalemenls and are confident ol generating those funds. despite the ongoing uncerlainlies ol the pandemic and external economic conditions. As a result the directors believe that the charitable company will be able to continue lo operate as a going concern and have drawn up the financial statements on that ba51S. Income All income is recognised In the Statement ol Financial Activities once the charity has enlillemenl lo the funds, it is probable Ihal the income will be received and the amount can be measured reliably. Expenditur• Liabilities are recognised as expenditure as soon as there is a legal or conslruclive obligation commillirig the charity lo that expenditure, il is probable that a Iransler ol economic benefits will be required in selllemenl and the amount ol the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and ha5 been classified under headings that aggregate all cost related lo the category. Where costs cannot be directly allributed lo particular headings they have been allocated lo aclivilies on a basis con5islenl with the use of resources. Grants offered subject lo condillons which have not been mel al the year end dale are noted as a commitment bul not accrued as expenditure. Taxallon The charity is exempl from corporation lax on its charitable aclivilies. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives al the discretion of the trustees. Reslricled funds can only be used lor particular re51ricled purposes within the objects ol the charity. Reslriclions arise when specified by the donor or when funds are raised lor particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial slalemenls. Page 7 continued..
THE RATCLIFFE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - conlinued FOR THE YEAR ENDED 30 NOVEMBER 2023 DONATIONS AND LEGACIES 30.11.23 3D.11.22 Corporate Donations Personal Donations HMRC Gill Aid 120 29,000 7,287 69,000 5.500 36,1407 74,500 RAISING FUNDS Raising donations and legacie5 30.11.23 30.11.22 Consultancy Support costs 7,520 17,520 7,520 18,691 CHARITABLE ACTIVITIES COSTS Grant funding ol activities (see riole Direct Costs (see note 51 Supparl costs (see note 71 61 Talals Charitable 78 30,750 989 31,817 DIRECT COSTS OF CHARITABLE ACTIVITIES 30.11.23 30.11.22 Sundries 78 128 GRANTS PAYABLE 30.11.23 30.11.22 Charllable 30,750 47,000 The lolal grants paid lo inslilulions during the year was as follows.. 30.11.23 30.11.22 Grants to institutions 30,750 47,000 Page 8 conlinued...
THE RATCLIFFE FOUNDATION NOTESTOTHE FINANCIAL STATEMENTS- conllnued FOR THE YEAR ENDED 30 NOVEMBER 2023 SUPPORT COSTS Governance costs Charitable 989 Supporl costs, included in the above. are as follows.. 30.11.23 30.11.22 Total aclivilie5 Charitable Accountancy 989 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remvneralion or other benefits for the year ended 30 November 2023 nor for the year ended 30 November 2022. Trustees, •xpen5es There were no trustees, expenses paid lor the year ended 30 November 2023 nor for the year ended 30 November 2022. DEBTORS- AMOUNTS FALLING DUE WITHIN ONEYEAR 30.11.23 3Q.11.22 HMRC Gill aid 6,250 10. CREDrroRS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 30.11.23 30.11,22 Trade creditors Accrued expenses 1.460 975 1,460 900 2.435 2,360 RELATED PARTY DISCLOSURES One of the trustees donated £29,00012022.. É69.0001 lo the Foundation during the year. Another ol the Iruslees provided consultancy services during the year on an arm's length basis. lolalling £7,52012022.' £17,520). Paye 9