**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-