THE REALLY AMAZING CHARITY (TRAC2) CIO
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 AUGUST 2024
Charity number: 1157960
THE REALLY AMAZING CHARITY (TRAC2)
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 AUGUST 2024
| 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 2024
Charity number 1157960 Address Folly Lane Trevethin Pontypool NP4 8JB Trustees M Ford (Chair) E Herbert (Vice Chair) D Strange T George (Secretary) J Strange Independent Examiner Gavin Watkins MWR Accountants David House Mill Road Pontnewynydd Pontypool NP4 6NG Bankers Lloyds Bank plc 1 Gwent Square Cwmbran NP44 1XN
Page 1
THE REALLY AMAZING CHARITY (TRAC2)
TRUSTEES’ REPORT FOR THE YEAR ENDED 28 AUGUST 2024
The trustees present their report with the financial statements of the charity for the year ended 28 August 2024.
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.
Page 2
THE REALLY AMAZING CHARITY (TRAC2)
TRUSTEES’ REPORT FOR THE YEAR ENDED 28 AUGUST 2024
ACHIEVEMENT AND PERFORMANCE
In 2024, TRAC2 has made a significant impact on the community by donating a total of 5,718 items to individuals and families in need. The donated items cover a wide range of necessities, including food, beds, sofas, clothes and various household items. We received an average of 180 phone calls per month for assistance, advice, collections and referrals.
In response to the ongoing cost of living crisis, TRAC2 supported approximately 526 individuals, an average of 44 per month. Demand increased sharply during winter months due to high energy prices, reduced fuel allowances for pensioners and families struggling after trying to purchase school uniforms and then trying to purchase items for Christmas presents and food.
Our partnership with a private mental health counsellor ensured that individuals in acute distress received timely interventions. This reduced the risk of escalation and prevented further strain on their health. Over 80 sessions were given, all paid for by the charity. Waiting lists are still too long and these individuals were at their lowest and needed immediate support.
Challenges we face:
-
Increased demand placed pressure on staff and resources.
-
Rising operational costs, particularly for fuel and storage.
-
Complex and overlapping crises faced by service users, requiring multi-agency collaboration.
-
Decreased donations due to people not being able to afford to buy new as they once would of.
-
Outside funding becoming extremely difficult to obtain to help with core/staff costs and new projects
In the coming year TRAC2 plan to:
-
Expand access to emergency mental health support
-
Continue supporting the most vulnerable at their time of need
-
Strengthen our volunteer programme
-
Continue building strong partnerships with local councils, schools, and health providers and housing associations.
-
Increasing volunteering opportunities
Our journey does not end here, we still recognise there is still so much to do, and we remain committed to our cause of making a difference in people’s lives. Our success is not achieved alone but by the support we also receive from others also. We extend our sincere thanks to our staff, volunteers, trustees, partner organisations, and funders but also to our community who support us with their continued donations and help. Your dedication makes it possible for us to respond with compassion, speed, and effectiveness. Together, we are making a difference—one life at a time.
FINANCIAL REVIEW
The charity had net income for the year of £15,375 (2023: Net income of £35,114).
RESERVES POLICY
The Charity does not have a reserves policy at present.
Page 3
THE REALLY AMAZING CHARITY (TRAC2)
TRUSTEES’ REPORT FOR THE YEAR ENDED 28 AUGUST 2024
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
Page 4
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 2024.
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:
-
examine the accounts under Section 145 of the 2011 Act;
-
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
-
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:
-
accounting records were not kept in accordance with Section 130 of the Act; or
-
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
Page 5
THE REALLY AMAZING CHARITY (TRAC2)
RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 28 AUGUST 2024
| Unrestricted funds Note £ Income from: Donations and grants2 11,019 Receipts from charitable activities 17,067 _ Total 28,086 _ Expenditure on: Charitable activities3 65,201 Governance costs 1,260 _ Total 66,461 _ Net income/(expenditure) (38,375) Total funds brought forward 105,783 _ Total funds carried forward67,408 |
Restricted funds £ 233,290 - _ 233,290 _ 179,540 - |
Restricted funds £ 233,290 - _ 233,290 _ 179,540 - |
2024 Total £ 244,309 17,067 _ 261,376 _ 244,741 1,260 _ 246,001 _ 15,375 105,783 _ 121,158 |
2023 Total £ 206,096 31,369 _ 237,465 _ 201,151 1,200 _ 202,351 _ 35,114 70,669 _ 105,783 |
|
|---|---|---|---|---|---|
| __ |
_ __ 179,540 |
__ |
|||
| __ |
_ __ 53,750 - |
__ |
|||
| __ |
_ __ 53,750 |
__ |
Page 6
THE REALLY AMAZING CHARITY (TRAC2)
STATEMENT OF ASSETS AND LIABILITIES AS AT 28 AUGUST 2024
| Fixed Assets Caravan 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 |
£ 102,158 _ 102,158 - _ |
2024 £ 19,000 102,158 _ 121,158 _ 53,750 67,408 __ 121,158 |
2023 £ £ - 105,783 _ 105,783 - _ 105,783 _ 105,783 _ - 105,783 _ 105,783 |
2023 £ £ - 105,783 _ 105,783 - _ 105,783 _ 105,783 _ - 105,783 _ 105,783 |
|
|---|---|---|---|---|---|
| _ |
|||||
| _ 105,783 |
The financial statements were approved by the trustees on and signed on its behalf by:
______
Page 7
THE REALLY AMAZING CHARITY (TRAC2)
NOTES ON THE FINANCIAL STATEMENTS YEAR ENDED 28 AUGUST 2024
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 | 3,396 | - | 3,396 |
| Donations | 4,475 | - | 4,475 |
| Wilcox – Cash for clothes | 3,148 | - | 3,148 |
| Tudor Trust Grant | - | 34,500 | 34,500 |
| National Lottery | - | 99,129 | 99,129 |
| National Lottery Awards For All | - | 20,000 | 20,000 |
| Post Code Community Trust | - | 20,000 | 20,000 |
| Moondance | - | 45,000 | 45,000 |
| Alex Ferry Foundation | - | 5,000 | 5,000 |
| Community Foundation Wales | - | 5,000 | 5,000 |
| Arnold Clark | - | 1,000 | 1,000 |
| Bron Afon | - | 1,118 | 1,118 |
| Torfaen County Council Grant | - | 2,543 | 2,543 |
| __ | _ | __ | |
| 11,019 | 233,290 | 244,309 | |
| __ | _ | __ |
Page 8
THE REALLY AMAZING CHARITY (TRAC2)
NOTES ON THE FINANCIAL STATEMENTS YEAR ENDED 28 AUGUST 2024
3. Charitable Activities
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Wages | - | 157,364 | 157,364 |
| Chubb Fire and Security | 3,003 | - | 3,003 |
| Internet and phones | 3,938 | 3,938 | |
| Printer rental | 3,177 | - | 3,177 |
| Repairs and maintenance | 7,798 | - | 7,798 |
| Community events | 2,665 | - | 2,665 |
| FIN, crisis support pay out and donations | - |
10,562 | 10,562 |
| Stock | - | 9,831 | 9,831 |
| Staff and volunteer expenses | 2,500 | - | 2,500 |
| Vehicle running costs | 8,492 | - | 8,492 |
| Rent, rates and utilities | 10,729 | 1,783 | 12,512 |
| Insurances | 1,783 | - | 1,783 |
| Storage | 749 | - | 749 |
| Independent examiner’s fee | 1,260 | - | 1,260 |
| Office expenses | 6,437 | - | 6,437 |
| Mental health support | 4,120 | - | 4,120 |
| Cleaning and waste removal | 3,898 | - | 3,898 |
| Breathe HR | 313 | - | 313 |
| Donations | 5,599 | - | 5,599 |
| __ | _ | __ | |
| 66,461 | 179,540 | 246,001 | |
| __ | _ | __ |
4. Trustee remuneration and related party transactions
No payments were made to trustees as reimbursement of expenses during the year (2023: nil).
Page 9