Trustees’ Annual Report for the period
From 01 April 2020 To
31 March 2021
Charity name: RELEASE FINANCIAL CHARITY
Charity registration number: 1155290
Objectives and Activities
| Objectives and Activities ies |
Objectives and Activities ies |
|
|---|---|---|
| SORP reference | THE TRUSTEES MUST APPLY TH CHARITY IN FURTHERING THE FO FOR THE BENEFIT OF THE INHAB MIDLANDS OR OTHER PARTS OF AS THE TRUSTEES SHALL FROM DETERMINE: (1) THE RELIEF OF POVERTY AN FOR THE BENEFIT OF THE PUBL OF DEBT ADVICE SERVICES, INF ASSISTANCE IN RELATION TO DE FINANCIAL MANAGEMENT, AND, OF EDUCATION IN MONEY MATT MANAGEMENT. RELEASE IS A MONEY EDUCATIO COMMUNITY MONEY ADVICE CE HOME OF BUDGET BUDDIES. PROVIDING REGULATED DEBTA EDUCATION (FINANCIAL CAPABI GUIDANCE AND INFORMATIONT EQUIP PEOPLE WITH THE CRUC MANAGING THEIR FINANCES AN CHOICES, INCLUDING PRACTICA BUDGETING AND RELATED SUPP BUDGET BUDDIES IS A MENTOR SUPPORTING PEOPLE MANAGE RELEASE ALSO OPERATES A PA SERVICE, TO SUPPORT SERVICE APPROPRIATE TO THEM. THE TRUSTEES HAVE CONSIDER THE PUBLIC BENEFIT IS IN LINEW COMMISSION GUIDANCE. E INCOME OF THE LLOWING OBJECTS ITANTS OF THE EAST ENGLAND AND WALES TIME-TO-TIME D UNEMPLOYMENT IC BY THE PROVISION ORMATION AND BT AND PERSONAL (2) THE ADVANCEMENT ERS AND DEBT N CHARITY AND NTRE, AS WELL AS DVICE AND MONEY LITY) TRAINING, O EDUCATE AND IAL LIFE SKILL OF D MAKING INFORMED L HELP WITH ORT. ING SCHEME THEIR FINANCES. ID FOR BEFRIENDING USERS AS ED/ENSURED THAT ITH THE CHARITY |
|
| Summary of the purposes of the charity as set out in its governing document Para 1.17 |
||
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. Para 1.17 and 1.19 |
||
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 |
Additional information (optional) You may choose to include f u rther statements where relevant about:
| SORP reference | SORP reference | ---------- ---------- ---------- ---------- - - - - |
|---|---|---|
| Policy on grant making Para 1.38 |
||
| Policy on social investment including program related investment Para 1.38 |
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| Contribution made by volunteers Para 1.38 |
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| Other | ------ |
Achievements and Performance
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SORP reference
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| Achievements and Performance | Achievements and Performance | Achievements and Performance |
|---|---|---|
| SORP reference | ||
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | SUPPORTING CLIENTS TO BE RELEASED FROM FINANCIAL BONDAGE/PROGRESS TO FINANCIAL HEALTH AND WELL-BEING. BEFRIENDING SUPPORT TO SERVICE USERS. CONTINUANCE OF CHARITY, WITH APPROPRIATE PROFESSIONAL MEMBERSHIPS, REGISTRATION AND INSURANCE. DELIVERING FINANCIAL CAPABILITY/MONEY MANAGEMENT TRAINING. STAFF/VOLUNTEER DEVELOPMENT (TRAINING AND EXPERIENCE). DEEPENING OF LOCAL, REGIONAL AND NATIONAL CONTACTS. REPRESENTATION ON KEY FINANCIAL INCLUSION STRATEGY GROUPS. DEVELOPING AND DELIVERING ‘BUDGET BUDDIES’ - ONE-TO-ONE BUDGET MENTORING AND BEFRIENDING SUPPORT SOCIETY BENEFITTED AS PEOPLE THEIR FAMILIES/LOVED ONES AND THE COMMUNNITY HAD IMPROVED QUALITIES OF LIFE AND SOCIAL CAPITAL RAISED. |
Additional information (optional)
You may choose to include further statements where relevant about:
| Additional information (optional) You may choose to include further statements where relevant about: |
Additional information (optional) You may choose to include further statements where relevant about: |
Additional information (optional) You may choose to include further statements where relevant about: |
|---|---|---|
| Achievements against objectives set |
Para 1.41 | ----------- |
| Performance of fundraising activities against objectives set |
Para 1.41 | ----------- |
| Investment performance against objectives |
Para 1.41 | ----------- |
| Other | ------ | ----------- |
Financial Review
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of theperiod |
Para 1.21 | THE FINANCIAL POSITION AT THE YEAR -END ARE REASONABLE, HOWEVER THE EFECTS OF CORONAVIRUS IMPLICATIONS ARE UNCERTAIN. WE CAN OPERATE AT PRESENT LEVELS UNTIL MAY 2021. |
| Statement explaining the policy for holding reserves statingwhytheyare held |
Para 1.22 | THE RESERVES ARE BASED ON THREE MONTHS OPERATING COSTS, REDUNDANCY PAYMENTS AND ALLOCATED FUNDS (RELATING TO FUTURE DEVELOPMENT OF THE CHARITY). |
| Amount of reserves held | Para 1.22 | £35,000 |
| Reasons for holding zero reserves |
Para 1.22 | N/A |
| Details of fund materially in deficit |
Para 1.24 | N/A |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | N/A |
Additional information (optional) You may choose to include further statements where relevant about:
| The charity’s principal sources of funds (including any fundraising) |
Para 1.47 | ----------- |
|---|---|---|
| Investment policy and objectives including any social investment policy adopted |
Para 1.46 | ----------- |
| A description of the principal risks facing the charity |
Para 1.46 | ----------- |
| Other | ------ | ----------- |
Structure, Governance and Management
| Description of charity’s trusts: |
|||
|---|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 | CONSTITUTION OF A CHARTABLE INCORPORATED ORGANISATION WHOSE ONLY VOTING MEMBERS ARE ITS CHARITY TRUSTEES. |
|
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | CHARTABLE INCORPORATED ORGANISATION (CIO) | |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | FROM POINT 10 OF CONSTITUTION. APPOINTMENT OF CHARITY TRUSTEES (1)..... TRUSTEE ..... APPPOINTED ... FOR .... THREE YEARS ....... (2) IN SELECTING INDIVIDUALS FOR APPOINTMENT AS CHARITY TRUSTEES, THE CHARITY TRUSTEES MUST HAVE REGARD TO THE SKILLS, KNOWLEDGE AND EXPERIENCE NEEDED FOR THE EFFECTIVE ADMINISTRATION OF THE CIO. |
| Additional information (optional) You may choose to include further statements |
Additional information (optional) You may choose to include further statements |
where relevant about: |
|---|---|---|
| Policies and procedures adopted for the induction and training of trustees |
Para 1.51 | ----------- |
| The charity’s organisational structure and any wider network with which the charity works |
Para 1.51 | ----------- |
| Relationship with any related parties |
Para 1.51 | ----------- |
| Other | ------ | ----------- |
Reference and Administrative details
Charity name RELEASE FINANCIAL CHARITY Other name the charity uses RELEASE Registered charity number 1155290 Charity’s principal address 39 HIGH STREET SOUTH NORMANTON DERBYSHIRE DE55 2BP
Names of the charity trustees who manage the charity
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Name of person (or
Dates acted if not for whole
Trustee name Office (if any) body) entitled to
year
appoint trustee (if any)
N/A
1 IAN GLOVER CHAIR -----------
2 FRANCIS O’BRIEN TRUSTEE ----------- N/A
3 PAUL STEARS TRUSTEE ----------- N/A
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
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– Corporate trustees names of the directors at the date the report was approved Director name
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----------- N/A -----------
Name of trustees holding title to property belonging to the charity
Trustee name Dates acted if not for whole year
----------- N/A -----------
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Funds held as cu8todian tru•toe• on bohalf of othern of th¢ as8elS h¢kJ in Ihts capwty tharrty on whose behall the assets ara Mkj and hcyw thTr8 falls W¢thin the custodian chanty's objecls t)gt'ls of arTan9ts far 1 safe Iwstody and srfregaboA d such assets IrDm the charrtrfs own assels Additsoryal inlormalion loption•ll Nam•s nd addr•sso5 of •d¥ls•rn IOpQlonal Inl0fflwftj Typ• of Name AddTUS advisgr NIA- Nam• of chlof •xKullvo or nam•s of s•nlor stsff mambern Ioptlonal Infomatlon) PAUL STEARS Exemptions from disclosure Reas¢m lor nOn-dOSUre ol key nnel details tional information THIS FINL YW. IN PESPONSETO THE PM4rEIK AND THE PAEWTeo FINANCiAL TSUtWAIV ESTheLISEO A REGitsTED WITM FIFNCL CONDUCT ALrrMOPITYI COMMUP4TY mEy ADVICE ¢ENTRe- DEBT E- UNDEf¢ THE OVERSIGH1 OF COMMUNITY MONEY AiWCE REL 18 RELL4frtr c4 VOLUNTEERS WHO GE14EASLy LOYALLY OQIthTE THEIR TIME AND SKILL SETS IN VARKMJS CAPACfflE5ffloS. HUdÈVER THIS HAS OREAYLY REDUCED IFORVNRIOLB REASONS) DUFIING TME Declarat•ons Th• trustoes d8clarn that thoy h•vo •pprov•d th• Iwsts•S' r•port •lK>V•. Signed on b•half of th• charlty'¥ trusto0s Slgn¥tyr•lsl Full nafflelsl Poslllon {eg Socrntsry. ChalT. gtc)I D*t• IAN REID GLOVER FRANCIS MILHAEL LAUFIENCE O'BRIEN CkL4IR TRUSTEE /1
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|---|---|---|---|---|---|---|
|RELEASE FINANCIAL CHARITY|1155290|
|Receipts and payments accounts|CC16a|
|For the period from|01-Apr-20|To|31-Mar-21|
|————-|
|Section A Receipts and payments|
|Unrestricted funds|Restricted funds|Endowment funds|Total funds|Last year|
|to the nearest £|to the nearest £|to the nearest £|to the nearest £|to the nearest £|
|A1 Receipts|
|Allchurches Trust|-|12,550|-|12,550|
|Bolsover Partnership/Disrict Council|-|15,425|-|15,425|
|Bolsover Together (District Counci/LSP/BCVS)|-|1,000|-|1,000|
|CAF Coronavirus Emergency Fund|-|5,000|-|5,000|
|Central England Co-Op - Community Dividend Fund|-|2,000|-|2,000|
|Derbyshire County Council - Covid-19 Fund|-|2,000|-|2,000|
|DVA Small Grant|-|1,000|-|1,000|
|Lloyds Bank Foundation - Recovery|20,000|-|-|20,000|
|Lloyds Bank Foundation - DCMS |-|19,290|-|19,290|
|The National Lot Comm Fund/HM Govt |-|23,875|-|23,875|
|Souter Charitable Trust|2,500|-|-|2,500|
|Warburton's grant (CAF)|400|-|-|400|250|
|South ~Normanton Community Church|1,800|-|-|1,800|1,800|
|Social Enterprise|24,320|-|-|24,320|14,353|
|Personal Gifts/Gift Aid|1,370|-|-|1,370|1,260|
|Sundries/Bank Interest/Internal Tranfers|14,113|-|-|14,113|3,861|
|Community Fund - Awards for All|-|-|-|-|10,000|
|Royal London Foundation - grant|-|-|-|-|5,000|
|Sub total|(Gross income for AR)|64,503|82,140|-|146,643|36,524|
|KEY:| DCMS is Department for Digital, Culture, Media and Sport’s ‘Community Match Challenge’ programme. And ** = The National Lottery Community Fund|
|A2 Asset and investment sales|Coronavirus|Community|Support Fund|
|-|-|-|-|-|
|-|-|-|-|-|
|Sub total|-|-|-|-|-|
|Total receipts|64,503|82,140|-|146,643|36,524|
|a|=|
|A3 Payments|
|Salaries, NI & Pensions|5,831|23,968|-|29,799|22,625|
|Consultants|15,041|14,546|-|29,587|19,673|
|Office Rent|-|1,800|-|1,800|1,800|
|Professional fees/insurance|-|1,935|-|1,935|494|
|Telephone/Internet|-|1,135|-|1,135|393|
|Travel/training|-|631|-|631|2,094|
|Miscellaneous/Internal Transfers|14,099|9|-|14,108|5,212|
|Stationary/Postage|-|734|-|734|450|
|-|-|-|-|-|
|Sub total|[ 34,971 ]|44,756|-|79,728|52,741|
|=—=====|
|A4 Asset and investment purchases,|
|(see table)|
|Laptop and cable|-|399|-|399|-|
|Shredder and Printer|-|290|-|290|-|
|Sub total|[ - ]|689|-|689|-|
|—|—|
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CCXX R1 accounts (SS)
19/04/2021
1
•71 27.174 17.476 54.17 -ection B Statement of assets and liabilities at the end of the oer40d fn NED Clod 54.1fJ DEtsLI uablllti CCXX R2 accounts ISSI 1910412021
| CHARITY £OMMISSION FOR ENGLANO AND WALES Independent examlner'B report on the accounts Jnd•pond•nt Examln•r'• R•port Report to the tfusts•s1 momborn of On accounts for the yoar131 March 2021 ènded L.. Set out cln pag•s RELEASE FINANCIAL CHARITY Charlty no Ilf anyl 1156290 I reporl to thA Ifljstees on my ¥xamlnxlion nf the orUnt of th• gky)v8 chaflty I'the Tru51"1 for the year ended As Ihe chdrity's tfusle8s. you are rgsponsihle lor Ihe preporation ol Iho co)unts in accordance wrth Ihe requiremen1 of the Chanties Ad 2011 I'the Act'l I report in iespeci ol my examinalion of the Trust'¥ accountI> Lairiiyd oul under section 145 cjl the 20 11 Acl and in cafrying oui my examination. I have lollowed all thv applicable Difeclion8 given by th8J C.harily Commission undef section 145151{b) of the Act. Independent trhe chartty's oross income exceeded £250.000 and l am qualrfied tv examiner's statement undertake the examinatiDn by boing a qualilied memb•r of lin•ort name of appliGtible lisled bctrdyl]. Dolate [ l il not 8ppIIc8blJ I have CA)mpleted my examinalion I confirm thBt no malerlal rn8tter8 hav• come lo my zltenlion in CDnneciion wilh the ¥X4aminalion Ic>ther Ihan that di*¢lo•ed below ') which gives me cause to believe that in, any material rospect. the aocounling records were not kapt In accordance wrth seclion 130 of the Charities Act.. or the accounls did nol accord with thè accounlina recordB,' or the accounts did not comply wrth the applicable requirements concerning the form and conlenl of accoun19 sel Out In Ihe Charitles (Accounts and Reports) Regulations 2008 other thgn any reguiremetnl that the accounls give 8 'trué and fAir' view which 18 not a m8iief ¢onsid6red as part ol an independenl examingtion. I have no concerns and have come acTOSS no othei rnollers In connoctlon with the exarninalion to which alt6nlion should bts drdwn In Iliiti rtsptsil in order to enable a proper understanding ol the 8ccount8 lo be r?Khed. Ple8s8 d818te the words in the tsrack8ts if they do not apply. Rgsponsibilties and bASbS of roport Slgnod: [-. • l é Date: Name: Chartored In8titu19 01 Man89emenl AccoiJnlAnt• R•l8vant profos$lon41 qu31ificatiowils) or body Ilf Any):
Address:
34-40 High Street South Normanton Derbyshire, DE55 2BP
Section B Disclosure
Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
Give here brief details of any items that the examiner wishes to disclose .