REGISTERED CHARITY NUMBER: 1138898
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2022
FOR
BRIGHTON & HOVE SOIREE ROTARY SETTLEMENT
44 Grand Parade Brighton East Sussex BN2 9QA
Chariot House Limited Chartered Accountants
BRIGHTON & HOVE SOIREE ROTARY SETTLEMENT
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2022
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Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Financial Statements 6 to 9
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BRIGHTON & HOVE SOIREE ROTARY SETTLEMENT
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30TH JUNE 2022
The trustees present their report with the financial statements of the charity for the year ended 30th June 2022. The trustees have adopted the provisions of 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
Objectives and aims
By a Declaration of Trust dated 28th October 2010 -
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The Trustees shall hold the trust fund and its income upon trust to apply them for the following objectives: - To hold and apply the Trust Fund (and all other monies which may from time to time be received by the trustees) to apply capital and income thereof
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to or for the relief of the poor and needy or
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to or for such other charitable purpose or purposes/institution/society or as the Club shall in a duly constituted meeting
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from time to time direct.
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to lend all or part of the Trust Fund to institutions/individuals/societies of other associations with or without interest as the Trustees in their absolute discretion see fit"
FINANCIAL REVIEW
Financial position
The accounts represent charitable fund-raising income and expenditure on charitable activities by the Brighton & Hove Soiree Settlement Trust.
Funds at year-end were £69,942 (2021: £62,337).
Total Gross Income for the period was £53,483 (2021: £50,811).
Total Expenditure on Charitable Activities amounted to £41,272 (2021: £52,879).
Reserves policy
As a small charity with minimal overheads and uncomplicated activities, the trustees have decided to keep in reserve approximately the amount of funds raised in the preceding financial year, plus a contingency of £10,000 to meet the needs of an unforeseen emergency or other unexpected need for funds. As a general policy long-term commitments for more than a year are not entered into, unless agreed by the Club Council.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1138898
Principal address
24 St Mary's Square Brighton BN2 1FZ
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BRIGHTON & HOVE SOIREE ROTARY SETTLEMENT
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30TH JUNE 2022
Trustees
Mrs G V Reed Mr I R Steel Mr S Alldis (resigned 18/8/2021) Ms C Richardson (resigned 18/8/2021) Ms M K Kirk (appointed 18/8/2021) Mr C P Baron (appointed 18/8/2021)
Independent Examiner
John Thacker FCA DChA Institute of Chartered Accountants in England and Wales Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA
Bankers
HSBC Plc 125 Church Road Hove East Sussex BN3 2AN
Stockbrokers
Charles Stanley & Co. Ltd 14 Hyde Gardens Eastbourne East Sussex BN21 4PR
Approved by order of the board of trustees on 10th October 2022 and signed on its behalf by:
Mr C P Baron - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BRIGHTON & HOVE SOIREE ROTARY SETTLEMENT
Independent examiner's report to the trustees of Brighton & Hove Soiree Rotary Settlement
I report to the charity trustees on my examination of the accounts of Brighton & Hove Soiree Rotary Settlement (the Trust) for the year ended 30th June 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material 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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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts 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 accounts to be reached.
John Thacker FCA DChA Institute of Chartered Accountants in England and Wales Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA
11th October 2022
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BRIGHTON & HOVE SOIREE ROTARY SETTLEMENT
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30TH JUNE 2022
| 2022 Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 53,386 Investment income 2 97 Total 53,483 EXPENDITURE ON Charitable activities Designated Donations 5,460 Management and Administration expenditure 839 Donations 34,973 Total 41,272 Net gains/(losses) on investments (4,606) NET INCOME 7,605 RECONCILIATION OF FUNDS Total funds brought forward 62,337 TOTAL FUNDS CARRIED FORWARD 69,942 |
2021 Total funds £ 50,614 197 50,811 (11,446) 1,200 63,125 52,879 8,207 6,139 56,198 62,337 |
|---|---|
The notes form part of these financial statements
Page 4
BRIGHTON & HOVE SOIREE ROTARY SETTLEMENT
BALANCE SHEET
30TH JUNE 2022
| 2022 Unrestricted funds Notes £ FIXED ASSETS Investments 4 23,397 CURRENT ASSETS Cash at bank 47,955 CREDITORS Amounts falling due within one year 5 (1,410) NET CURRENT ASSETS 46,545 TOTAL ASSETS LESS CURRENT LIABILITIES 69,942 NET ASSETS 69,942 FUNDS 6 Unrestricted funds 69,942 TOTAL FUNDS 69,942 |
2021 Total funds £ 28,003 35,007 (673) 34,334 62,337 62,337 62,337 62,337 |
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The financial statements were approved by the Board of Trustees and authorised for issue on 10th October 2022 and were signed on its behalf by:
Mr C P Baron - Trustee
The notes form part of these financial statements
Page 5
BRIGHTON & HOVE SOIREE ROTARY SETTLEMENT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Going concern - covid19
The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
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continued...
BRIGHTON & HOVE SOIREE ROTARY SETTLEMENT
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH JUNE 2022
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Dividends | 97 | 197 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30th June 2022 nor for the year ended 30th June 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30th June 2022 nor for the year ended 30th June 2021.
4. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Listed | |
| investments | |
| £ | |
| MARKET VALUE | |
| At 1st July 2021 | 28,003 |
| Revaluations | (4,606) |
| At 30th June 2022 | 23,397 |
| NET BOOK VALUE | |
| At 30th June 2022 | 23,397 |
| At 30th June 2021 | 28,003 |
There were no investment assets outside the UK.
Cost or valuation at 30th June 2022 is represented by:
| Listed | ||
|---|---|---|
| investments | ||
| £ | ||
| Valuation in | 2022 | 23,397 |
continued...
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BRIGHTON & HOVE SOIREE ROTARY SETTLEMENT
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH JUNE 2022
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Other creditors | 1,410 | 673 | |||
| 6. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At 1/7/21 | in funds | 30/6/22 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 57,766 | (10,085) | 47,681 | ||
| Designated funds | 4,571 | 17,690 | 22,261 | ||
| 62,337 | 7,605 | 69,942 | |||
| TOTAL FUNDS | 62,337 | 7,605 | 69,942 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Gains and | Movement | ||
| resources | expended | losses | in funds | ||
| £ | £ | £ | £ | ||
| Unrestricted funds | |||||
| General fund | 30,333 | (35,812) | (4,606) | (10,085) | |
| Designated funds | 23,150 | (5,460) | - | 17,690 | |
| 53,483 | (41,272) | (4,606) | 7,605 | ||
| TOTAL FUNDS | 53,483 | (41,272) | (4,606) | 7,605 |
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1/7/20 | in funds | 30/6/21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 49,375 | 8,391 | 57,766 |
| Designated funds | 6,823 | (2,252) | 4,571 |
| 56,198 | 6,139 | 62,337 | |
| TOTAL FUNDS | 56,198 | 6,139 | 62,337 |
continued...
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BRIGHTON & HOVE SOIREE ROTARY SETTLEMENT
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH JUNE 2022
6. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 44,786 | (44,602) | 8,207 | 8,391 |
| Designated funds | 6,025 | (8,277) | - | (2,252) |
| 50,811 | (52,879) | 8,207 | 6,139 | |
| TOTAL FUNDS | 50,811 | (52,879) | 8,207 | 6,139 |
All funds are unrestricted funds and their movement is shown in the Statement of Financial Activities.
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30th June 2022.
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