**Charity Registration No. 1160675** **Company Registration No. CE002757 (England and Wales)** ## **ROOM TO REWARD CIO** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 DECEMBER 2024** **----- Start of picture text -----**
10 Bridge Street
Christchurch
Dorset
BH23 1EF
**----- End of picture text -----**
**ROOM TO REWARD CIO** ## **CONTENTS** ||**Page**| |---|---| |Company information|1| |Trustees' report|2 - 17| |Statement of trustees' responsibilities|18| |Independent examiner's report|19| |Statement of financial activities|20| |Balance sheet|21| |Notes to the financial statements|22 - 29| **ROOM TO REWARD CIO** ## **COMPANY INFORMATION** **Trustees** Mr N J Roach Mr R Richardson Mr M Lever Mr T S Nealon Mr M O Warren (Appointed 21 March 2024) **Charity number** 1160675 **Company number** CE002757 **Registered office** Harbour House 60 Purewell Christchurch Dorset BH23 1ES - 1 - ## **ROOM TO REWARD CIO** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ The trustees present their annual report and financial statements for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's constitution, the Companies Act 2006 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 1 January 2019). ## **Structure, governance and management** The charity is a company limited by guarantee and is governed by the Memorandum and Article of Association which were adopted on its incorporation on 26 February 2015. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: Mr N J Roach Mr R Richardson Mr M Lever Mr T S Nealon Mr D A Guile (Resigned 16 October 2024) Mr M O Warren (Appointed 31 March 2024) The power to appoint new trustees is vested in the existing trustees. All members of the Board of Trustees give their time voluntarily and receive no benefits from the charity. Any expenses claimed from the Charity are set out in the notes to these financial statements. None of the trustees has any beneficial interest in the charity. All of the trustees are members of the charity. - 2 - Charity Registrdtion No. 1160675 Company Registration No. CE002757 (England and Wales) Room to rfReward ljaid Inspirational couple treated to hotel break 2024 2024 was a record-breaking yearfor Room to Reward with more volunteers nominated, more hospitality properties donating breaks, more organisations making nominations, more funds raised and, most importantly, more inspirational Hidden Heroes given a wellearned break than ever before. Annual Report 2024- Overview 2024- The Key Figures e just had the most amazing time. Thank you so" much forfacilitating such a wonderful gift and unforgettable experience." Michelle, Volunteer Citzens Advi Witness Service. R2R Break Taken at The Dorchester. 508 Breaks Arranged 1031 Volunteers Nominated 199 New Voluntary Orgs Registered (IOOO+ Total) 88 New Hospitality Partners Signed Up (900+ Total) £IOOk+ Raised Through Fundraising Events & Campaigns ial spor)0R5 14ARBOUR M EWS waste management HOT E LS IiJppnRTFR 4COUture )m G) Gallagher tc 18( )LT'I'I(J.LT ],' I I()'I'LLILI; accwnis. lax- legal . financial plannirrfj TOLCHARDS TEMPLESPA hlERMAI GIN H(=SPA Institute .of Hospltallty 2024 - HOSPITALITY 2024 saw a number of fantastic hotel groups join the Room to Reward journey. We are immensely grdteful to the wonderful Aimbridge Hospitality, Arord Group, The Brend Collection, Apex Hotels, the City Pub Group, Andrew Brownsword Hotels, Eden I Hotel Colleciton, Citadines as well as several members of Best Western Hotels. We have also had the pleasure of attending and spreading the R2R word art at a number of hospitality events. Master Innholders Hotel Leadership Conference.17th/18' January. We were hugely appreciative of the opportunity once again to network at the Master Innholders Hotel Leadership Conference. one of the highlights of the hospitality calendar and a great way toi start the year! Best Western Hotels AMC Conference 29th - 30th January. New fantastic R2R sUPPOrters Best Western Hotelsinvited us to present a the Annual Members Conference, conveniently hosted by fellolb2R partners Celtic Manor! levral .' Catalysts for Conversion- Revenue Munogement Conference byRevenue by Design. 301h Jan Revenue managers are obviously a key audience for R2Flluge thanks to Ally Northfield for the opportunity and James Clarke of Park Plaza Westminstecor speaking on our behalf I Top R2R 5UPPOrter5 Legacy Hotels put on u fanta5ticfundrai5ing golf day ut Wychwood Park in May, raising an incredible£8.000 for R2R and our great friends Hospitality Adion Huge thanks to Andy Townsend and the Legacy team for their constant amazing support. We also made our debut atthe SeThiced A artment Awordson 23rd May- a fantastic opportunity to expand R2R engagement beyond hotels and we were thrilled to receive numerou5 new pledge5 of 5UPPOrtHuge thanks to the fantastic 1 International Hospitality Mediateam for the support- see you next yearl Boutique Hotelier.. The Great GM Debate. 6 th June UKHOSPITALITY Summer Conference. 14fh June Another year, anotherfab opportunity tospread the R2R word at the UKHOSPITALITY Summer Conference. Huge thanks as always to Kate Nicholls. Jackie and th*eam. We were delighted to make our debut in th anta5tic London Hos itali Festival this year. The R2R softball teaTr made up of members of the R2R team and our amazing supporters Harbour Hotels Firmdole Hotel4 MEWS and QX Global- went from not knowing names (or the rules l) to some big wins and truly memorable moments. Team sponsorship ond a raffle on the day also raised approx. £IOOOI Huge thanks to Paul, James and Tom Gilley for hoving us as part of this amozing event- we're definitely back in 20251 IKPITALIYY FESTIYIII I I,'*•J Another unforgettable night at the amazingAA Hos italit Awards saw attendees raise a staggering £16.OOOfor R2R and Hospltality Action. The awards celebrate the best in theindustry and it was fantastic to see a number of wonderful R2R supporters make their way to the stage for some fullyde5erved recognition. Huge thanks to Simon I Numphud and the awesome AA team for making it happen. Hot on the heels of the AA Awards came the brillian6outi ue Hotelier Awards in Ortober. An envelope draw on the night saw over £2000 raisedfor R2R while a number of attendees olso pledged to join tour journey. All in all, a fantostic night and we are eternally grateful to Zoe Monk, Eammon Crowe and the wonderful BH team for their continued amazing support. INDEPENDENT E ither side of the Boutique Hotelier Awards night wos the alwaymazing I Inde endent Hotel Show. This annual extravaganza at The Olympia is an i invaluable opportunity to spread the word about R2R, meet new partners I i and catch up with our wonderful supporters. rhe show getsbetter and better every year and we are immensely grateful to the fantastic Montgomery Group for the opportunity- even if their softball team gave i us a beating at London Hospitality Festivall HOTEL SHOW L O N D O N 15-16 Ocl 2024 ia London We signed off the h05Pltality year with another trip to the fantastic HOSPACE. Hosted by top R2R 5UPPOrter5 Royal Lancaster. we are hugely grateful to Sally Beck for endorsing R2R to attendees and Jane Pendlebury and the fab HOSPA team for their constant support. ' H(ThSPACE 2024 ' Thursday 14th November e are proud to join Room to Reward. It's a sirnple thing for hotels to , be a part of and a great way of putting our unsold rooms to good use. We look forward to welcoming some amazing volunteers for a weH eorned break.- Matthew Brend- Director. Brend Collection It 5 a Simple way for Aimbridge to Say thunk you to deserving i I volunteers across the UK and Northern Ireland by donating some of the unsold rooms from our UK portfolio, that all hotels inevitably have, and putting them to fantastic l use. We are thrilled to be involved and look forward to I welcoming volunteer guests to Aimbridge's hotels soon." David Anderson, Divisonal PresidentatAimbridge EMEA Aimbridge 2024- Over 900 Hotels A4ARBOUR 20 HO T E I S CRERA "bespoke" STARBOARD O T E L S G l ( C ¥ LEONARDO Hotels 25 LEGACY HOTELS 35 25 Hotels & Resorts '()IN.SH 1111 APEX HOTELS O'CALLAG4AN COI I FCTION imbridge 65 75 IC'.l)NlC-, 45 I l L % O Nl CELIIC MANOR 45 dg 25 25 20 CLERMONT HOTEL GROUP BW | Bestwestern. 145 190 Hote15 & Resorts FIRMDALE HOTEL ST AUSTELL 220 $ NIW ¥OR 6kEwEPY CMAR TEftQA FIB LORE HC)TF.I.S LUXURY FAMILY HOTELS Hoburne Holidays nclose Hotel BREND CHAR TEROAK CHAMPNEYS airn , Group SPLENDID HOSPITALITY GROUP •RBH VALOR I KR COACHING INN GROUP COUNTRYWIDE OTELS mayhew helpforce STREETVET orgufET Gree DORSET WILDLIFE rRUST Animal Rescue rs OUNG UVES AJ2hei Soelety Terrence HIGGins TfusT TUM•UR= CHARITY SHINE HOSPIT ALITY Action 8.1.11.D B R l T I S LIVE TRUST da tenorf) cancer care • Hearing Dogs |)()I'sc IUI UL'dl YLupIL THE OF DRL1l15 & IIGH IILIRLS L'iiilcli'on. Fareshare HEALING VENEZUEI actlon Royal Trfinlty Hosp1(* Julia"s for elders Uivirtg House ty hafan Carei"s 98 Fii'st JL St Luke's Ir :,,,,,,,,, Macmillan No(1 4 lacksplace forest holme OSPICC Cort AbilityNet hoalthwètch euK SAMARI Onside NSPCC SPCA Here for youngpeopie See differently cl¢lz•ns a(Mce women's aid ssafa Notionol Autistic Society un".il women & chIldTr are safe Armed Forces char.,ty ENGLAND ATHLErics me GIRLS FRIENDLY SOCIETY TRUST Leonard Cheshire ••- ACTION ON •HEARING •LOSS GFS CHILDREN'S CHARIIY StIR hizz-tidz , SAFE st Anglian ir 4rnbiilance il(Ire QFRAllKW ATER PASSAGE .ryA.Y up . IE5 Ir¥es LII.TE Engllsh S¢h¢>ols' Athleti A550ciation Army Fund OOLOGICA LThknUTH Goalball UK National Crimestoppers. Youth Stroke SurThws Club REAST CANCEIL CoppuFeel• HaemothromatOs15.UK Helpn9 Iivewith &carechthiy Trust cancer care Jcilal can*.r +sMART R PA Butterfly Conservation ecovery• Lewis-manning Hospice Care Scouts Litè beyond addimmodation and really goodfood. As well as Stonehenge we diTd a tour of the cathedral- t7nother place on my bucket list- ond went to see o comedy ot the locol theotre one evening. All in all. a really enjoyai4e and muth (ppreciated breok Thank you." hlc br•in inivry I LEGACY HOTELS. Mark- New Hope Mark's prlmary responslblllty as a 4vluntew Is to pl¢k up donated ern and a well-de5erved rest for all her hard work. The Break- Royal Crescent, Bath ~Belng nomlnated was a huge shock and prlvllege. I volunteer to try & glve bocklor the beouwul way my porents were caredlor In both theirllnaljoumeys. It wos so exciting Choosing where to go and the choice was so vast. We were omozed to see thot the 5 Royol Crescent Hotel wos on opttion. This would be on experience I'd never consider usually. We drove into the Royal Crescent and were in awe of its grnnd beouty. Seeing thefootman outslde. we exdtedly parked ond were Immedlutely treated Ilke roytilty. We were treated so wormty ond genulnely by t711 the sroff. I hod 2 nights with breokfost ondfvll occe$5 to the spa. We were in the rest(Jurr3nt in the evening which served such 5crurnmyfood. 8elng onlm¢71 mod myfavourfte part was the hotel cotl We shopped t7nd lounged. it wos just pure relaxation. Thonk you so much everyone who votedfor me. Room to ReKd ond the Royal Cesnt Hotel. I loved my sroy.- TIIF. ROTr'.KL LRfsLr.NT Olivia GINA Gl Olivia dedicates approximately 5 hrS a week to GINA in her volunteering role with us among her other commitments. From her very first day with GINA, Olivia showed incredible passion and commitment to the women we support. Olivia lives and breathes our values of showing consistent compassion. unity and belief in women subjected to abuse and trauma. She has been creatir¥ a comprehensive resource- book for young women subjected to sexual harassment, violence and abuse to support them and offer information guidance and support in navigating the world as a young woman. This resource includes infomiation on women's health. friendships, relationships, academics, social life, body ima8e and mental health- all to supwrt young women with the issues they face growing up in today's world. The Break- The Daffodil Hotel & Spa -1 had a fantastic break and time at the hotell Our room was very spacious. and we had a great view of the lake, the staff were super friendly and helpful, breakfast was amazirg as we had so many tasty options, and the spa facilities made the whole stay feel so luxuriousl I Would definitely recommend this hotel- a wonderful place for a breakl Q- CRERAR H O T E L S www.roomtoreward.or r2r-im act 15- R2R 2024 CHARITIESAND COMMUNITY GROUP PARTNERS Mental Health SeNices International Animal Welfare Hospice Care Cancer Health and Medical Grassroots Sports Care Environmental Children & Young People Disability Crisis Support Community £5b Lost to Unsold ooms Every Year £17b+ 140k Annual Contribution of Volunteering to the U.K. Economy Average Number of Unsold Rooms in the U.K. Every Night People Volunteer at Least Once a Month We can donate £lmillion worth of breaks every year with less than IOA of the annual number of unsold rooms. 16- ROOM TO REWARO CIO TRUSTEES, REPORT IINCLUOING DIRECTORS. REPORTI ICOPJTINUEO) FOR THE YEAR EIIDED 31 DECEMBER 2024 The trusiees, po Was 3pproved by the 8oard of Trusiees. 16 Mr M O Warren Trustee Dale.. 2111012025 17- ## **ROOM TO REWARD CIO** ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** ## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ The trustees, who are also the directors of Room to Reward CIO for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. - 18 - ROOM TO REWARD CIO INDEPE14DENT EXAMINER'S REPORT TO ThE TAusfEES OF ROOM TO REWARD CIO I reptirt to the Irusiee5 on my examination of the financlal 5tstements of Room to Ra¥ard CIO (thè charltyl for thè year ended 31 December 2024. Responslbllltles and b3515 of report As the trustees of the charity land also Its directots for the purposes of company law) you are responsible for the preparatlon of the flnanclal statements in accordance wlth the requirements of the Companles Act 2LK)6 (the 2006 Act). Havlng sasfied myself that the finan¢ial statements of the tharlty I not requlred to be audlted under Part 16 of the 2006 Act and are eligible for independent examination. I report In respect of my exafflination of the charity's ffinancial statements carried out under sertion 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Dlrectlons 8i¥en by the Charity Commlssion under section 1451511bl of the 2011 Act. Independent examlnerf5 statement I have completed my examination. I confirm that no matters have CLxne to my attention in connertion with the examination living me cause to belieie that in ary material respect: accountin8 records were not kept In re5pert ofthE charity as required ty sertion 386 of the 2CM)6 Act; or the finantial ststements do not accord with those record5,' or the financial ttatements do not comply with the acci)untin8 requirements of section 396 of the 2006 Art other than any requirement that the accounts give a true and fair view which s not a matter considered a5 part of an independent eMInatIOn. or the financlal statements have not been prepared in accordance with the method5 and prinaples of the Statemènt of Rpcommknded Practice for accounting and reportinR bv charities applicable to charities preparing theiraccounts in acCOrdanWIth the Financial Reporting5tsndard applicable in the UK and Republic of Ireland IFRS 1021. I have no concern5 and have come across no other mattels In connecllon with examlnatilxb to whlch attention should be drawn In this report In order to enable a proper understarKlln8 of the flnancial statements to be reached. Lucy Hler FCCA TC Group 10 Brid8e Street Christchur¢h Dorset BH23 IEF 2711012025 Dated.. 19- ## **ROOM TO REWARD CIO** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ |**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
39,769
17,200
Other trading activities
**4**
83,173
-
Investments
**5**
619
-
**Total income**
123,561
17,200
**Expenditure on:**
Raising funds
**6**
20,207
-
Charitable activities
**7**
71,730
18,218
**Total expenditure**
91,937
18,218
**Net income/(expenditure) and**
**movement in funds**
31,624
(1,018)
**Reconciliation of funds:**
Fund balances at 1 January
2024
46,186
1,458
**Fund balances at 31 December**
**2024**
77,810
440|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
56,969
62,505
11,000
83,173
49,347
-
619
180
-
140,761
112,032
11,000
20,207
19,201
-
89,948
76,663
9,542
110,155
95,864
9,542
30,606
16,168
1,458
47,644
30,018
-
78,250
46,186
1,458|**Total**
**2023**
**£**
73,505
49,347
180| |---|---|---| |||123,032| |||19,201
86,205| |||105,406| |||17,626
30,018| |||47,644| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 20 - ROOM TO REWARDCIO BALANCE SHEET AS AT31 DECEMBER 2024 1024 20 Current assets Debtors Cash atbankandinhand 12 448 80.157 1,256 48,993 80.605 50.249 Creditors.. amounts falling due within one year 12.3551 12.6051 Net current assets 78.2SO 47N4 The funds of the charity Restricted Income funds Unrestricted funds 440 1,458 46,186 77.810 78.250 47,644 The company is entitlÈd to ihe exemptiorb from the audit requ¥enEnt iontained in secrion 477 of the Companies Act 200G. for ihe year en(Jed 31 December 2024. The directors acknowledge their responsibilitie5 for complying with the requirements ol the Companies Act 2006 with respect to accounting records and the pfeparation of fan(la1 statÈments. The fflember5 have not Quired ihe company to obtain an audit of its financial slatements lor the year in question in accordance with section 476. These financial staletnent5 have been preporecl in actordance with rhe provi5i0n5 applicable ro companies subject to the small companie5 regime. The financial s 2111012025 nts were approved by thÈ trustees on . Mr M O Wbrren Trustee Cornpany regisiration number CE¢X12757 IEngl3nd and Wales) 21 ## **ROOM TO REWARD CIO** ## **NOTES TO THE FINANCIAL STATEMENTS** ## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **1 Accounting policies** ## **Charity information** Room to Reward CIO is a private company limited by guarantee incorporated in England and Wales. The registered office is Harbour House, 60 Purewell, Christchurch, Dorset, BH23 1ES. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. ## **1.4 Income** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. - 22 - ## **ROOM TO REWARD CIO** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **1 Accounting policies** ## **(Continued)** Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. ## **1.5 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. ## **1.6 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.7 Financial instruments** The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. - 23 - **ROOM TO REWARD CIO** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **1 Accounting policies** ## **(Continued)** ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. ## **1.8 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.9 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. It is the opinion of the trustees that there are no significant estimates or judgements included within the financial statements. - 24 - ## **ROOM TO REWARD CIO** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **3 Income from donations and legacies** ||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**| |---|---|---|---|---|---|---| ||**funds**|**funds**||**funds**|**funds**|| ||**2024**|**2024**|**2024**|**2023**|**2023**|**2023**| ||**£**|**£**|**£**|**£**|**£**|**£**| |Donations and gifts|39,769|17,200|56,969|62,505|11,000|73,505| ## **4 Income from other trading activities** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2024**|**2023**| ||**£**|**£**| |Fundraising events|83,173|49,347| |**Income from investments**||| ||**Unrestricted**|**Unrestricted**| ||**funds**|**funds**| ||**2024**|**2023**| ||**£**|**£**| |Interest receivable|619|180| |**Expenditure on raising funds**||| ||**Unrestricted**|**Unrestricted**| ||**funds**|**funds**| ||**2024**|**2023**| ||**£**|**£**| |**Fundraising and publicity**||| |Other fundraising costs|20,207|19,201| - **5 Income from investments** **6 Expenditure on raising funds** - 25 - ## **ROOM TO REWARD CIO** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **7 Expenditure on charitable activities** |||**Charitable**|**Charitable**| |---|---|---|---| |||**activities**|**activities**| |||**2024**|**2023**| |||**£**|**£**| ||**Direct costs**||| ||Staff costs|78,881|72,042| ||Travel and subsistence|1,216|1,392| ||Website costs|359|359| ||Subscriptions|-|200| ||Insurance|96|96| ||Other expenditure|306|4,316| ||Support services|7,200|6,000| |||88,058|84,405| ||**Share of support and governance costs (see note 8)**||| ||Support|1,890|1,800| |||89,948|86,205| ||**Analysis by fund**||| ||Unrestricted funds|71,730|76,663| ||Restricted funds|18,218|9,542| |||89,948|86,205| |**8**|**Support costs allocated to activities**||| |||**2024**|**2023**| |||**£**|**£**| ||Governance costs|1,890|1,800| ||**Analysed between:**||| ||Charitable activities|1,890|1,800| Governance costs includes payments to the independent examiner of £1,890 (2023- £1,800) for independent examination fees. ## **9 Trustees** None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. - 26 - ## **ROOM TO REWARD CIO** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **10 Employees** The average monthly number of employees during the year was: ||**2024**|**2023**| |---|---|---| ||**Number**|**Number**| ||3|3| |**Employment costs**|**2024**|**2023**| ||**£**|**£**| |Wages and salaries|75,750|69,433| |Social security costs|1,420|1,074| |Other pension costs|1,711|1,535| ||78,881|72,042| There were no employees whose annual remuneration was more than £60,000. ## **11 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. ## **12 Debtors** |**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income
**13**
**Creditors: amounts falling due within one year**
Other creditors
Accruals and deferred income|**2024**
**£**
448
-
448
**2024**
**£**
385
1,970
2,355|**2023**
**£**
466
790| |---|---|---| |||1,256| |||**2023**
**£**
365
2,240| |||2,605| - 27 - ## **ROOM TO REWARD CIO** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ |**14**|**Retirement benefit schemes**||| |---|---|---|---| |||**2024**|**2023**| ||**Defined contribution schemes**|**£**|**£**| ||Charge to profit or loss in respect of defined contribution schemes|1,711|1,535| The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. ## **15 Restricted funds** The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. ||**At 1 January**|**Incoming**|**Resources**|**At 31**| |---|---|---|---|---| ||**2024**|**resources**|**expended**|**December**| |||||**2024**| ||**£**|**£**|**£**|**£**| |Hotel partnership officer and support services|1,458|17,200|(18,218)|440| |**Previous year:**|**At 1 January**|**Incoming**|**Resources**|**At 31**| ||**2023**|**resources**|**expended**|**December**| |||||**2023**| ||**£**|**£**|**£**|**£**| |Hotel partnership officer and support services|-|11,000|(9,542)|1,458| Hotel partnership officer - this fund represents amounts received to fund the wage costs of the hotel partnership officer, along with other support services. - 28 - ## **16 Unrestricted funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. ||**At 1 January**|**Incoming**|**Resources**|**At 31**| |---|---|---|---|---| ||**2024**|**resources**|**expended**|**December**| |||||**2024**| ||**£**|**£**|**£**|**£**| |General funds|46,186|123,561|(91,937)|77,810| |**Previous year:**|**At 1 January**|**Incoming**|**Resources**|**At 31**| ||**2023**|**resources**|**expended**|**December**| |||||**2023**| ||**£**|**£**|**£**|**£**| |General funds|30,018|112,032|(95,864)|46,186| |**Analysis of net assets between funds**||||| |||**Unrestricted**|**Restricted**|**Total**| |||**funds**|**funds**|| |||**2024**|**2024**|**2024**| |||**£**|**£**|**£**| |**At 31 December 2024:**||||| |Current assets/(liabilities)||77,810|440|78,250| |||77,810|440|78,250| |||**Unrestricted**|**Restricted**|**Total**| |||**funds**|**funds**|| |||**2023**|**2023**|**2023**| |||**£**|**£**|**£**| |**At 31 December 2023:**||||| |Current assets/(liabilities)||46,186|1,458|47,644| |||46,186|1,458|47,644| ## **17 Analysis of net assets between funds** ## **18 Related party transactions** During the year, Room to Reward received £17,200 of funding from Nicholas James Ltd towards the salary of the Hotel Partnership Officer and support services (2023 - £11,000).