ROTARY INTERNATIONAL DISTRICT 1040 CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022
Charity registration number 1139278
ROTARY INTERNATIONAL DISTRICT 1040 CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Charity number
Registered office
Mr M Tagg Mr S Ellis Mr D Robinson 1139278 Maidens Folly Youlton Tollerton York Y61 1QL
(Appointed 4 March 2022) (Appointed 4 March 2022) (Appointed 4 March 2022)
Independent examiner
Bankers
Alan Wintersgill BEM FCA Naylor Wintersgill Limited Carlton House Grammar School Street Bradford BD1 4NS Barclays Bank PLC 1 Churchill Place Leicestershire LS87 2BB
ROTARY INTERNATIONAL DISTRICT 1040 CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 11 |
ROTARY INTERNATIONAL DISTRICT 1040 CHARITABLE TRUST
TRUSTEES' REPORT
FOR THE YEAR ENDED 30 JUNE 2022
The trustees present their annual report and financial statements for the year ended 30 June 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Charities Act 2011 and "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
The objective of the Charity is to apply both capiial and income form donations, bequests, deeds of covenants, gift aid and also investments for the relief of the poor and needy or such other charitable purposes as the District Council shall decided in a duly constituted meeting.
The charity carries out these objectives by raising funds principally through Club appeals and a variety of activities. Most charitable activities in District 1040 are performed by Clubs.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
The Charity raised £155,530 through appeals and Club donations and made distributions amounting to £117,171. The principle focus for appeals was Ukraine where £126,930 was raised by District Clubs, Inner Wheel and Others and £109,292 was distributed; £50,000 through the Rotary Club of Kosice and Uzhgorod in eastern Slovakia. Past District Governor Baganich has overseen the humanitarian distribution into Ukraine. Alongside this we spent a further £49,999 on the purchase of medical supplies, including medical action bags to support ambulance crews in war torn Ukrainian cities.
The Charity has also supported a Bulgarian orphanage through the RC Ruse Dunaux in Bulgaria.
Also £7,000 was spent to Physionet to help them send more medical equipment out to Ukraine.
Donations continue to be made to the Charity and the Trustees were successful in applying to the Rotary Foundation for a £20,000 Disaster Response grant to support refugees in District 1040; this being distributed across the AG groups.
In addition the charity has launched appeals to support Sri Lanka to help at the time of Covid with Humanitarian needs, including food parcels and medical supplies. £4,650 has so far been sent to Kandy.
The Charity continues to support the KSV School in Sri Lanka and will send a further £560 this year to support buying school equipment and shoes.
A further £1,400 has been collected for Sanddams enabling us to meet our target amount of £8,000 and contribute to building a Sanndam in Kenya.
We continue to support the Microloan scheme enabling us to send a further £1,000 to the RC Kandy for the Centre
for Handicaps.
Individual Clubs continue to send donations to ShelterBox and Aquabox to support those in need as a result of world wide disasters including Ukraine and Pakistan.
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ROTARY INTERNATIONAL DISTRICT 1040 CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022
Fundraising
Section 162a of the Charities Act 2011 requires charities to make a statement regarding fundraising activities. The legislation defines fundraising as ‘soliciting or otherwise procuring money or other property for charitable purposes’. The charity does not actively raise funds from the public either directly or via use of an agent, accordingly no such amounts are presented in the financial statements for the year under review. The charity has received no complaints in relation to fundraising activity for the year under review.
Given the nature of the funding of the charity the Trustees consider that it remains appropriate not to be voluntarily bound to be regulated by the Fundraising Regulator.
Financial review
The net movement in the Charity reserves increased by £38,359 by 30th June 2022 through fund appeals, bringing total reserves up to £53,922. This includes £983 in general and unrestricted funds along with £52,939 restricted funds.
It is the District's policy to distribute balances in the restricted fund by the end of the following year. Trustees consider it imprudent to maintain large balances on the sub funds when the objective is to support charitable causes. Some sums are retained to support further initiatives in keeping with the aims of the original donations.
The Trustees have decided to keep all funds in a liquid account so as to be able to respond immediately as the needs arise. The trustees have not adopted an ethical investment policy.
The trustees have examined the major strategic and operational risks which face the charity and are of the opinion procedures are in place to mitigate these risks. The charity has no operational costs as these are bourn by the District General Fund.
Plans for future periods
The Charity will continue to support the poor and needy and its projects in the restricted funds and in particular support Ukraininan refugees in District 1040 and Ukraine through humanitarian projects.
Structure, governance and management
The charity is a trust governed by its Trust Deed dated 18 September 2010 and registered as a charity on 8 December 2010.
| The trustees who served during the year and up to the date of signature of the financial statements were: | The trustees who served during the year and up to the date of signature of the financial statements were: |
|---|---|
| Mr P Brindle | (Resigned 4 March 2022) |
| Mrs H Haas | (Resigned 4 March 2022) |
| Mr P Cusworth | (Resigned 4 March 2022) |
| Mr M Tagg | (Appointed 4 March 2022) |
| Mr S Ellis | (Appointed 4 March 2022) |
| Mr D Robinson | (Appointed 4 March 2022) |
Trustees are appointed for the skills and experience they can bring to the charity. Training is given if necessary.
The charity is run by the trustees and supported by Officers of Rotary International District 1040.
The trustees' report was approved by the Board of Trustees.
Mr D Robinson Trustee
1 December 2022
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ROTARY INTERNATIONAL DISTRICT 1040 CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF ROTARY INTERNATIONAL DISTRICT 1040 CHARITABLE TRUST
I report to the trustees on my examination of the financial statements of Rotary International District 1040 Charitable Trust (the charity) for the year ended 30 June 2022.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements 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 financial statements to be reached.
Alan Wintersgill BEM FCA Naylor Wintersgill Limited
Carlton House Grammar School Street Bradford BD1 4NS
Dated: 1 December 2022
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ROTARY INTERNATIONAL DISTRICT 1040 CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2022
| Unrestricted Restricted funds funds 2022 2022 Notes £ £ Income from: Donations and legacies 2 - 155,530 Expenditure on: Charitable activities 3 - 117,171 Net income/(expenditure) for the year/ Net movement in funds - 38,359 Fund balances at 1 July 2021 983 14,580 Fund balances at 30 June 2022 983 52,939 |
Total Unrestricted Restricted funds funds 2022 2021 2021 £ £ £ 155,530 5,072 3,670 117,171 10,992 - 38,359 (5,920) 3,670 15,563 6,903 10,910 53,922 983 14,580 |
Total 2021 £ 8,742 10,992 (2,250) 17,813 15,563 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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ROTARY INTERNATIONAL DISTRICT 1040 CHARITABLE TRUST
BALANCE SHEET
AS AT 30 JUNE 2022
| Notes Current assets Debtors 5 Cash at bank and in hand Net current assets Income funds Restricted funds 6 Unrestricted funds |
2022 £ 14,812 39,110 53,922 |
£ 53,922 52,939 983 53,922 |
2021 £ 14,505 1,058 15,563 |
£ 15,563 |
|---|---|---|---|---|
| 14,580 983 |
||||
| 15,563 |
The financial statements were approved by the Trustees on 1 December 2022
Mr D Robinson Trustee
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ROTARY INTERNATIONAL DISTRICT 1040 CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022
1 Accounting policies
Charity information
Rotary International District 1040 Charitable Trust is a charitable trust governed by it's trust deed dated 18 September 2010 and registered as a charity, number 1139278, on 8 December 2010.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's Trust Deed, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.5 Expenditure
Donations and grants payable are charged in the year when the trustees have committed a making such expenditure.
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ROTARY INTERNATIONAL DISTRICT 1040 CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022
1 Accounting policies
(Continued)
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
2 Donations
| Restricted Unrestricted Restricted funds funds funds 2022 2021 2021 £ £ £ Donations and gifts 135,530 5,072 3,670 Grants listed below 20,000 - - 155,530 5,072 3,670 Grants receivable for core activities Rotary Foundation 20,000 - - 20,000 - - |
Total 2021 £ 8,742 - |
|---|---|
| 8,742 | |
| - | |
| - |
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ROTARY INTERNATIONAL DISTRICT 1040 CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022
3 Charitable activities
| Charitable | Charitable |
|
|---|---|---|
| Expenditure | Expenditure |
|
| Heading 1 | Heading 1 | |
| 2022 | 2021 | |
| £ | £ | |
| Ukraine | 109,992 | - |
| Ukraine district disaster recovery | 2,535 | - |
| Sri Lanka covid | 4,644 | - |
| RNLI | - | 7,300 |
| Other charitable donations | - | 3,680 |
| Bank charges | - | 12 |
| 117,171 | 10,992 | |
| 117,171 | 10,992 |
4 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the current or prior year.
5 Debtors
| Debtors | ||
|---|---|---|
| 2022 | 2021 | |
| Amounts falling due within one year: | £ | £ |
| Other debtors | 14,812 | 14,505 |
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ROTARY INTERNATIONAL DISTRICT 1040 CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022
6 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Movement | Movement in funds | Movement in funds | ||||||
|---|---|---|---|---|---|---|---|---|
| in funds | ||||||||
| Balance at | Incoming | Balance at | Incoming | Resources | Balance at | |||
| 1 July 2020 | resources 1 July 2021 |
resources | expended | 30 June | ||||
| £ | £ | £ | £ | £ | 2022 £ |
|||
| Capital | 75 | - | 75 | - | - | 75 | ||
| Sri Lanka Covid | - | - | - | 4,650 | (4,644) | 6 | ||
| Sri Lanka KSV | - | - | - | 2,019 | - | 2,019 | ||
| Sand Dams | - | - | - | 400 | - | 400 | ||
| Beirut | - | - | - | 250 | - | 250 | ||
| Ukraine | - | - | - | 126,930 | (109,992) | 16,938 | ||
| Ukraine DDR | - | - | - | 20,000 | (2,535) | 17,465 | ||
| Wheel Chair Push | - | - | - | 774 | - | 774 | ||
| MND/Rob Burrows | - | - | - | 200 | - | 200 | ||
| Rotary District General | ||||||||
| Operating Fund | 10,835 | 3,670 | 14,505 | 307 | - | 14,812 | ||
| 10,910 | 3,670 | 14,580 | 155,530 | (117,171) | 52,939 |
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ROTARY INTERNATIONAL DISTRICT 1040 CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022
7 Funds
| Balance at 1 July 2020 r £ Restricted 75 General 6,903 Total 6,978 |
Movement in funds Incoming esources Resources expended £ £ - - 5,072 (10,992) 5,072 (10,992) |
Movement in funds Transfers Balance at 1 July 2021 Incoming resources Resources expended Balance at 30 June 2022 £ £ £ £ £ - 14,580 155,530 (117,171) 52,939 - 983 - - 983 - 15,563 155,530 (117,171) 53,922 |
Movement in funds Transfers Balance at 1 July 2021 Incoming resources Resources expended Balance at 30 June 2022 £ £ £ £ £ - 14,580 155,530 (117,171) 52,939 - 983 - - 983 - 15,563 155,530 (117,171) 53,922 |
|---|---|---|---|
| 53,922 |
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ROTARY INTERNATIONAL DISTRICT 1040 CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022
| 8 Analysis of net assets between funds Unrestricted funds Restricted funds 2022 2022 £ £ Fund balances at 30 June 2022 are represented by: Current assets/(liabilities) 983 52,939 983 52,939 |
Total Unrestricted funds Restricted funds 2022 2021 2021 £ £ £ 53,922 15,488 75 53,922 15,488 75 |
Total 2021 £ 15,563 |
|---|---|---|
| 15,563 |
9 Related party transactions
A grant was received of £20,000 from the Rotary Foundation in the year. Funds transferred from the Rotary District General Operating Fund are included in the debtors amounting to £14,812.
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