THE REALLY AMAZING CHARITY (TRAC2) CIO
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 AUGUST 2022
Charity number: 1157960
THE REALLY AMAZING CHARITY (TRAC2)
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 AUGUST 2022
| CONTENTS | ||
|---|---|---|
| Page | ||
| Legal and administrative information | 1 | |
| Trustees' report | 2 | |
| Independent Examiner’s Report | 5 | |
| Receipts and payments account | 6 | |
| Statement of assets and liabilities | 7 | |
| Notes to the financial statements | 8 |
THE REALLY AMAZING CHARITY (TRAC2)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 28 AUGUST 2022
Charity number 1157960 Address Folly Lane Trevethin Pontypool NP4 8JB Trustees D Yeowell (Chair) E Herbert (Vice Chair) M Edgson (Secretary) D Strange T George T Blockwell J Strange M Ford Independent Examiner Gavin Watkins MWR Accountants David House Mill Road Pontnewynydd Pontypool NP4 6NG Bankers Lloyds Bank plc 1 Gwent Square Cwmbran NP44 1XN
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THE REALLY AMAZING CHARITY (TRAC2)
TRUSTEES’ REPORT FOR THE YEAR ENDED 28 AUGUST 2022
The trustees present their report with the financial statements of the charity for the year ended 28 August 2022.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is a Charitable Incorporated Organisation (CIO) and is governed by its constitution, dated 29 August 2017.
The governance of the charity is vested in the trustees who form the management committee. The day-to-day management is delegated to the project manager.
At every annual general meeting one-third of the trustees shall retire from office. If the number of trustees is not three or a multiple of three, the number nearest to one-third shall retire. The trustees to retire by rotation shall be those who have been longest in office since their last appointment or re-appointment. The vacancy of trustee may be filled by decision of the members at the annual general meeting.
OBJECTIVES AND ACTIVITIES
We are dedicated in the fight against poverty and high street debt that can lead to relationship breakdowns, the separation of families and homelessness. We want to help change the circumstances that lead to a family not being able to fulfil even the necessities. It is not an easy fight nor is there an end in sight but what we do does make a difference and we will continue to support those who come through our doors for as long as we are needed.
We have developed three programmes that have evolved and been shaped by the community it supports. These programmes offer complete wrap-around support for our clients and will help guide them to make positive changes in not just their lives, but the lives of their families and community:
Community Outreach
We are a social hub at the heart of the community and provide a safe space for people to access when they are at crisis point. TRAC2 hosts a wide range of third sector agencies, and at any given day of the weekday, members of the public can access our safe space, in the knowledge that they can get the help they need in an environment they feel comfortable in.
Crisis
Our Crisis Support programme provides tailored support to individuals and families often in acute crisis. Households who have been rehoused because of an emergency, family breakdown, eviction, domestic violence, previous homelessness, or any other adverse life events, often find themselves without household essentials. Whether it be a bed, sofa, chest of drawers, clothes, kitchen appliances, or the whole package; we will source it so that the household can focus on what’s most important; getting back on their feet.
Meals
Food poverty is a sad reality many people in our community are faced with; it’s a reality we’re not content to stand by and do nothing about. For many years now, we’ve issued food bank vouchers, but with food banks facing unprecedented levels of demand, earlier this year we decided to start our own weekly Fareshare project; offering nutritional, fresh foods at a very low cost to enable people to feed themselves and their families. This program has rapidly become so popular, that we’re considering opening a second venue to serve more people.
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THE REALLY AMAZING CHARITY (TRAC2)
TRUSTEES’ REPORT FOR THE YEAR ENDED 28 AUGUST 2022
ACHIEVEMENT AND PERFORMANCE
Many of our clients are still isolating or suffering the effects of long-term Covid. Many have suffered significant declines in their mental health and we are seeing an increase in anxiety and depression levels in our younger residents following the pandemic. During the time since our last report, TRAC2 has been at the centre of this support. We have provided emergency food, household items, clothing and in some cases, daily meals for our homeless community. We have delivered food to our local food bank and provided valuable insight at a strategic level to the local authority. In the first 9 months of Covid, TRAC2 had seen its highest rise in support needs since we opened in 2011. This was unprecedented and with skeleton staff, covid concerns and limited items, we still managed to support over 600 households. Not only did the need for support increase but emergency provisions were at an all time high. We donated over 19,000 food items to individuals and families throughout Torfaen.
The government has released its cost of living plans for 2022 and highlighted how many families will be entitled to support and how many people with a disability will be entitled to a cost of living payment. However, Torfaen has a population of 93,049 as of 2018. The government has shown that only 13,100 people will be entitled to the support and only 12,770 people with disabilities will receive the payment. This leaves a huge 79,949 people without help during this economic crisis. To help support any many households as we can, TRAC2 received a generous grant of £12,500. This money was to used help counter the effects of the cost of living crisis through practical items. We have donated 35 items including slow cookers, electric blankets and airers to families already feeling the effects. We have also been involved at a strategic level providing vital information to local authorities on what support is available in Torfaen.
Following the pandemic we expected support needs to reduce to pre-covid levels but unfortunately, they seem to continue to rise. Since January 2022, TRAC2 has donated over 14,000 items. The Food Insecurity Tracker has already indicated that there has been a sharp increase in the number of households having to cut down on food. 57% of households will have to cut down on their food budget due to rising costs. 7.3 million adults have a gone a day without food. 2.3 million children have gone to bed hungry. August 2022 has seen the highest amount donated in one month, with the exception of December, in our history. A total of 2,225 items were delivered in one month. We can attribute this directly to the rising energy and food prices. Our families are struggling financially and emotionally, and we are just at the beginning of this looming crisis. The 2,225 items donated in August were needed for just 45 households. That is an average of 40 items needed per home. This tells us that we have an increase in households with multiple members such as children who are needing more support than ever.
These figures are why TRAC2 still exists today, and out support is needed now more than ever.
FINANCIAL REVIEW
The charity had net income for the year of £19,843 (2021: Net income of £17,108).
RESERVES POLICY
The Charity does not have a reserves policy at present.
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THE REALLY AMAZING CHARITY (TRAC2)
TRUSTEES’ REPORT FOR THE YEAR ENDED 28 AUGUST 2022
PUBLIC BENEFIT
The trustees confirm they have referred to the Charity Commission’s guidance on public benefit when reviewing the charity’s aims and objectives.
Approved by order of the board of trustees on and signed on its behalf by
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INDEPENDENT EXAMINER’S REPORT
TO THE TRUSTEES OF THE REALLY AMAZING CHARITY (TRAC2)
I report to the trustees on my examination of the accounts for the year ended 28 August 2022.
Responsibilities and basis of report
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011(the 2011 Act)) and that an independent examination is required.
It is my responsibility to:
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examine the accounts under Section 145 of the 2011 Act;
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to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts provide a ‘true and fair view’ and the report is limited to those matters set out in the statements below.
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 which gives me cause to believe that in, any material respect:
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accounting records were not kept in accordance with Section 130 of the Act; or
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the accounts do not accord with the accounting records.
I have no concerns and have come across no matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Gavin Watkins BSc (Hons) FCCA MWR Accountants David House Mill Road Pontnewynydd Pontypool NP4 6NG
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THE REALLY AMAZING CHARITY (TRAC2)
RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 28 AUGUST 2022
| Unrestricted funds Note £ Income from: Donations and grants2 22,800 Receipts from charitable activities 28,586 Other income - _ Total 51,386 _ Expenditure on: Charitable activities3 53,967 Governance costs 1,200 _ Total 55,167 _ Net income/(expenditure) (3,781) Total funds brought forward 38,227 _ Total funds carried forward 34,446 |
Restricted funds £ 199,836 - - _ 199,836 _ 176,212 - |
Restricted funds £ 199,836 - - _ 199,836 _ 176,212 - |
2022 Total £ 222,636 28,586 - _ 251,222 _ 230,179 1,200 _ 231,379 _ 19,843 50,826 _ 70,669 |
2021 Total £ 229,973 15,786 200 _ 245,959 _ 226,451 2,400 _ 228,851 _ 17,108 33,718 _ 50,826 |
|
|---|---|---|---|---|---|
| __ |
_ __ 176,212 |
__ |
|||
| __ |
_ __ 23,624 12,599 |
__ |
|||
| __ |
_ __ 36,223 |
__ |
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THE REALLY AMAZING CHARITY (TRAC2)
STATEMENT OF ASSETS AND LIABILITIES AS AT 28 AUGUST 2022
| Current assets Cash at bank and in hand Creditors:amounts falling due within one year Net current assets Net assets Funds Restricted funds Unrestricted funds Total funds |
£ 70,669 _ 70,669 - _ |
2022 £ 70,669 _ 70,669 _ 36,223 34,446 __ 70,669 |
2021 £ £ 81,826 _ 81,826 (31,000) _ 50,826 _ 50,826 _ 12,599 38,227 _ 50,826 |
2021 £ £ 81,826 _ 81,826 (31,000) _ 50,826 _ 50,826 _ 12,599 38,227 _ 50,826 |
|
|---|---|---|---|---|---|
| _ |
|||||
| _ 50,826 |
The financial statements were approved by the trustees on and signed on its behalf by:
______
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THE REALLY AMAZING CHARITY (TRAC2)
NOTES ON THE FINANCIAL STATEMENTS YEAR ENDED 28 AUGUST 2022
1. Accounting policies
Basis of preparation
These accounts have been prepared on the receipts and payments basis with a statement of assets and liabilities.
Nature of purpose of funds
Unrestricted funds are those that may used at the discretion of the trustees in furtherance of the objects of the charity.
Restricted funds may only be used for specific purposes. Restrictions arise when specified by the donor or when funds are raised for specific purposes.
2. Donations and grants
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Welsh Church Fund | 11,840 | - | 11,840 |
| Donations | 5,748 | - | 5,748 |
| Wilcox – Cash for clothes | 5,212 | - | 5,212 |
| Moondance Foundation | - | 12,500 | 12,500 |
| Tudor Trust Grant | - | 30,000 | 30,000 |
| National Lottery People and Places | - | 118,477 | 118,477 |
| National Lottery Awards 4 All | - | 10,000 | 10,000 |
| Postcode Lottery | - | 10,000 | 10,000 |
| Comic Relief | - | 1,000 | 1,000 |
| Alex Ferry Grant | - | 10,000 | 10,000 |
| Kick Start – Torfaen CBC | - | 2,823 | 2,823 |
| Bron Afon Grant | - | 500 | 500 |
| Event Contribution | - | 450 | 450 |
| Torfaen County Council Grant | - | 4,086 | 4,086 |
| __ | _ | __ | |
| 22,800 | 199,836 | 222,636 | |
| __ | _ | __ |
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THE REALLY AMAZING CHARITY (TRAC2)
NOTES ON THE FINANCIAL STATEMENTS YEAR ENDED 28 AUGUST 2022
3. Charitable Activities
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Wages | - | 169,396 | 169,396 |
| Stationery, equipment and uniforms | 1,674 | - | 1,674 |
| Chubb Fire Security | 1,144 | - | 1,144 |
| Solutions in Technology | 3,455 | - | 3,455 |
| Printer rental | 3,251 | - | 3,251 |
| Repairs and maintenance | 1,307 | - | 1,307 |
| Event expenses | 2,813 | 450 | 3,263 |
| FIN, crisis support pay out and donations | 17,831 | 1,780 | 19,611 |
| Stock/WCF/Grant | 4,925 | - | 4,925 |
| Staff and volunteer expenses | 689 | - | 689 |
| Vehicle running costs | 6,784 | - | 6,784 |
| Rates and utilities | 2,637 | 4,586 | 7,223 |
| Insurances | 1,232 | - | 1,232 |
| Storage | 2,083 | - | 2,083 |
| Independent examiner’s fee | 1,200 | - | 1,200 |
| Legal fees | 450 | - | 450 |
| Heart Internet | 169 | - | 169 |
| Cleaning and waste removal | 2,804 | - | 2,804 |
| Shop expenses | 669 | - | 669 |
| Charitable donation | 50 | - | 50 |
| __ | _ | __ | |
| 55,167 | 176,212 | 231,379 | |
| __ | _ | __ |
4. Trustee remuneration and related party transactions
No payments were made to trustees as reimbursement of expenses during the year (2021: nil).
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