Charity No: 1148493
The Rural North West Charitable Foundation
Annual Report and Financial Statements
For The Year Ended 31 March 2022
THE RURAL NORTH WEST CHARITABLE FOUNDATION
CONTENTS
| Page | |
|---|---|
| Charity information | 1 |
| Trustees’ annual report | 2 |
| Independent examiner’s report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 |
THE RURAL NORTH WEST CHARITABLE FOUNDATION
CHARITY DETAILS
Trustees Mr J Keohane Mrs N A Keohane Charity number 1148493 Independent examiner Mrs Nicola Mason ACA, DChA MHA Moore and Smalley Richard House 9 Winckley Square Preston PR1 3HP Address Richard House 9 Winckley Square Preston PR1 3HP
-1-
THE RURAL NORTHWEST CHARITABLE FOUNDATION
TRUSTEES’ REPORT
FOR THE YEAR ENDED 31 MARCH 2022
The trustees have pleasure in presenting their report for the year ended 31 March 2022.
The accounts have been prepared in accordance with the accounting policies set out in the notes to the accounts 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 October 2019).
Structure, governance and management of the charity
Governing document
The charity is governed by a Trust Deed dated 3[rd] August 2012.
The Trustees who have served during the year are set out on page 1.
The existing trustees accept the obligation to fully inform a new trustee of the duties and responsibilities of charity trustees by providing the new trustee with copies of the governing document, minutes of previous meetings of the trustees, recent annual accounts of the charity and the relevant Charity Commission publication relating to the responsibilities of trustees.
Risk management
The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to mitigate the risks.
Charity’s objectives, activities and achievements for the public benefit
Objects of the charity
The objects of the charity are to promote such purposes as are exclusively charitable in accordance with the laws of England and Wales for the benefit of the rural population of North West England as the trustees may from time to time decide.
Charity’s activities and achievements during the year
Two grants have been awarded in the year for the purchase of school equipment.
-2-
THE RURAL NORTHWEST CHARITABLE FOUNDATION TRUSTEES REPORT
FOR THE YEAR ENDED 31 MARCH 2022
Financial review
The surplus for the year was £22,896 (2021: £19,568). Details of income and expenditure for the year are shown in the Statement of Financial Activities on page 5.
Reserves policy
The balance held on the unrestricted income fund at the year end was £79,884 (2021: £56,988).
01/08/2022
This report was approved for and on behalf of the Trustees on and signed on its behalf by:
.............................................................................
John Keohane
-3-
THE RURAL NORTHWEST CHARITABLE FOUNDATION
INDEPENDENT EXAMINER’S REPORT
FOR THE YEAR ENDED 31 MARCH 2022
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2022 which are set out on pages 5 to 8.
Responsibilities and basis of report
As the charity’s trustees 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 charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the 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:
-
1 accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
2 the accounts do not accord with those records; or
-
3 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.
............................................................................. Date ............................................ 02/08/2022 Nicola Mason ACA, DChA Moore and Smalley LLP Chartered Accountants Preston
-4-
THE RURAL NORTHWEST CHARITABLE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2022
| Note Unrestricted income fund £ Income Donations 20,000 Gift aid 5,000 Investment income 290 Total income 25,290 Expenditure Charitable Activities 2 2,394 Total expenditure 2,394 Net incoming resources 22,896 Fund balances brought forward 56,988 Fund balances carried forward 79,884 |
Total 2022 £ 20,000 5,000 290 25,290 2,394 2,394 22,896 56,988 79,884 |
Total 2021 £ 16,000 4,000 18 |
|---|---|---|
| 20,018 | ||
| 450 450 |
||
| 19,568 37,420 |
||
| 56,988 |
-5-
THE RURAL NORTHWEST CHARITABLE FOUNDATION
BALANCE SHEET
AS AT 31 MARCH 2022
| Note Current assets Debtors 3 Cash at bank Current liabilities Creditors Net current assets Net assets Represented by: Accumulated fund Unrestricted income fund 4 |
£ 29,000 50,884 79,884 - |
2022 £ 79,884 79,884 79,884 |
£ 4,000 52,988 56,988 - |
2021 £ 56,988 |
|---|---|---|---|---|
| 56,988 | ||||
| 56,988 |
01/08/2022
The accounts were approved on behalf of the Committee on and signed on its behalf
............................................................................. John Keohane
-6-
THE RURAL NORTHWEST CHARITABLE FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022
1 Accounting policies
Basis of preparation of the accounts
The accounts have been prepared under the historical cost convention and in accordance with 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 October 2019) – (Charities SORP (FRS 102)), and the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102).
The Rural Northwest Charitable Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value.
The accounts (financial statements) have been prepared to give a ‘true and fair’ view and 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 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) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Preparation of the accounts on a going concern basis
The trustees assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the accounts and have concluded that the charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the charity’s ability to continue as a going concern. Thus they continue to adopt the going concern basis of accounting in preparing the accounts.
Income and expenditure
Income and expenditure are included in the statement of financial activities on the accruals basis.
Critical accounting estimates and areas of judgement
The trustees do not consider that there are any critical accounting estimates or areas of judgement in these accounts.
2 Debtors
| Debtors | ||
|---|---|---|
| Gift aid Accrued income |
2022 £ 9,000 20,000 29,000 |
2021 £ 4,000 - |
| 4,000 |
-7-
THE RURAL NORTHWEST CHARITABLE FOUNDATION
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2022
3 Charitable activities
| Charitable activities | ||
|---|---|---|
| Grants paid - St Mary’s School RNWC Foundation - Copp school NWRC Foundation Accountancy |
2022 £ 1,200 1,194 - 2,394 |
2021 £ - 450 |
| 450 |
4 Unrestricted income fund
The fund is to be applied for the principal objects of the charity as described on page 2.
5 Trustees
No remuneration or other benefits were paid to the charity’s trustees or people connected with them. Expenses reimbursed to the charity’s trustees during the year totalled £Nil (2021: £nil).
-8-