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RIGHT CHOICE ACADEMY
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
Charity Registration No. 1161957
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RIGHT CHOICE ACADEMY
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr K P Holland Mr J Swallow Miss H Swallow Charity number 1161957 Principal address Woodleigh Hall Farm Knott Lane Rawdon Leeds LS19 6JT Accountants Azets Carlton House Grammar School Street Bradford BD1 4NS Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Mailling Kent ME19 4JQ
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RIGHT CHOICE ACADEMY
CONTENTS
| Page | |
|---|---|
| Trustees report | 1 - 2 |
| Statement of Trustees responsibilities | 3 |
| Accountants' report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the accounts | 7 - 11 |
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RIGHT CHOICE ACADEMY
TRUSTEES REPORT
FOR THE YEAR ENDED 30 JUNE 2024
The Trustees present their annual report and financial statements for the year ended 30 June 2024.
The accounts have been prepared in accordance with the accounting policies set out in note 1 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 1 January 2019)”
Objectives and activities
The objects of the charity are to advance in life and help young people, especially but not exclusively through outdoor leisure time activities, so as to develop their skills and capabilities to enable them to participate in society as independent, mature and responsible individuals. To provide or assist in the provision of outdoor activities in the interests of social welfare for recreation or other leisure time occupation of the public generally or or individuals who have need of such facilities by reason of their youth, age infirmity or disability, financial hardship or social circumstances, with the object of improving their conditions of life.
The Trustees have paid due regard to guidance issued by the Charity Commission on public benefit in deciding what activities the Charity should undertake.
Achievements and performance
The trustees regret that the charity has not been able to provide sailing experiences and educational facilities to young people and vulnerable adults in the year to 30th June 2024.
Unfortunately the charity is not expecting to be able to provide this experience in the near future.
Financial review
During the year the Charity received income of £740 (2023 £673), and incurred expenditure from unrestricted funds of £840 (2023 £789) resulting in a net decrease in funds of £100 (2023 decrease £116). At the year end restricted reserves stood at £5,500 (2023 £5,500) and unrestricted reserves stood at £815 (2023 £915).
It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
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RIGHT CHOICE ACADEMY
TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024
Structure, governance and management
The Charity is a charitable incorporated organisation registered 2 June 2015 and governed by its foundation.
The Trustees who served during the year and up to the date of signature of the financial statements were: Mr K P Holland
Mr J Swallow Miss H Swallow
Trustees are selected through interview with the board based on the skills which they can bring to the charity. Trustees are trained through support from their fellow Trustees.
The Trustees report was approved by the Board of Trustees.
Mr J Swallow
Trustee
7 April 2025
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RIGHT CHOICE ACADEMY
STATEMENT OF TRUSTEES RESPONSIBILITIES
FOR THE YEAR ENDED 30 JUNE 2024
The Trustees 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).
The law applicable to charities in England and Wales 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 of the Charity for that year.
In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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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 sufficient 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.
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RIGHT CHOICE ACADEMY
ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF RIGHT CHOICE ACADEMY FOR THE YEAR ENDED 30 JUNE 2024
In order to assist you to fulfil your duties under the Charities Act 2011, we have prepared for your approval the financial statements of Right Choice Academy for the year ended 30 June 2024, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.
This report is made to the charity's Trustees, as a body, in accordance with the terms of our engagement letter dated 1 February 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Right Choice Academy and state those matters that we have agreed to state to the charity's Trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Right Choice Academy and the charity's Trustees as a body, for our work or for this report.
Azets
7 April 2025
Carlton House Grammar School Street Bradford BD1 4NS
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RIGHT CHOICE ACADEMY
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2024
| Unrestricted Restricted funds funds 2024 2024 Notes £ £ Income from: Donations and legacies 4 726 - Investments 3 14 - Total income 740 - Expenditure on: Charitable activities 5 840 - Net expenditure for the year/ Net movement in funds (100) - Fund balances at 1 July 2023 915 5,500 Fund balances at 30 June 2024 815 5,500 |
Total Unrestricted Restricted funds funds 2024 2023 2023 £ £ £ 726 660 - 14 13 - 740 673 - 840 789 - (100) (116) - 6,415 1,031 5,500 6,315 915 5,500 |
Total 2023 £ 660 13 673 789 (116) 6,531 6,415 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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RIGHT CHOICE ACADEMY
BALANCE SHEET
AS AT 30 JUNE 2024
| Notes Current assets Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Income funds Restricted funds 11 Unrestricted funds |
2024 £ 7,095 (780) |
£ 6,315 5,500 815 6,315 |
2023 £ 7,141 (726) |
£ 6,415 |
|---|---|---|---|---|
| 5,500 915 |
||||
| 6,415 |
The financial statements were approved by the Trustees on 7 April 2025
Mr J Swallow Trustee
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RIGHT CHOICE ACADEMY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
1 Accounting policies
Charity information
Right Choice Academy is a Charitable Incorporated Organisation registered on 2 June 2015 and governed by its foundation.
1.1 Accounting convention
The financial statements have been prepared in accordance with the Charity's Foundation, 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 1 January 2019)". The Charity is a Public Benefit Entity as defined by FRS 102.
The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
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 £.
The accounts 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 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.
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
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
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RIGHT CHOICE ACADEMY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024
1 Accounting policies
(Continued)
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.
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.
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.
1.7 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.
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.
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RIGHT CHOICE ACADEMY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024
3 Investments
| Unrestricted Unrestricted funds funds 2024 2023 £ £ Interest receivable 14 13 4 Donations and legacies Unrestricted Unrestricted funds funds 2024 2023 £ £ Donations and gifts 726 660 5 Charitable activities Charitable Expenditure Charitable Expenditure 2024 2023 £ £ Share of support costs (see note 7) 60 63 Share of governance costs (see note 7) 780 726 840 789 |
Unrestricted Unrestricted funds funds 2024 2023 £ £ Interest receivable 14 13 4 Donations and legacies Unrestricted Unrestricted funds funds 2024 2023 £ £ Donations and gifts 726 660 5 Charitable activities Charitable Expenditure Charitable Expenditure 2024 2023 £ £ Share of support costs (see note 7) 60 63 Share of governance costs (see note 7) 780 726 840 789 |
Unrestricted Unrestricted funds funds 2024 2023 £ £ Interest receivable 14 13 4 Donations and legacies Unrestricted Unrestricted funds funds 2024 2023 £ £ Donations and gifts 726 660 5 Charitable activities Charitable Expenditure Charitable Expenditure 2024 2023 £ £ Share of support costs (see note 7) 60 63 Share of governance costs (see note 7) 780 726 840 789 |
|---|---|---|
| 2024 £ 60 780 840 |
2023 £ 63 726 |
|
| 789 |
6 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the current or prior year.
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RIGHT CHOICE ACADEMY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024
7 Support costs
| Support costs Governance costs £ £ Bank charges 60 - Accountancy - 780 60 780 Analysed between Charitable activities 60 780 |
2024 Support costs Governance costs £ £ £ 60 63 - 780 - 726 840 63 726 840 63 726 |
2023 £ 63 726 |
|---|---|---|
| 789 | ||
| 789 |
All support costs are allocated in full to the only charitable activity.
8 Employees
There were no employees during the current or prior year.
9 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
10 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Accruals and deferred income | 780 | 726 |
11 Restricted funds
| Movement | Movement | ||||
|---|---|---|---|---|---|
| in funds | in funds | ||||
| Balance at | Incoming | Balance at | Incoming | Balance at | |
| 1 July 2022 | resources | 1 July 2023 | resources | 30 June 2024 | |
| £ | £ | £ | £ | £ | |
| George Martin Trust | 2,000 | - | 2,000 | - | 2,000 |
| Hedley Trust | 3,500 | - | 3,500 | - | 3,500 |
| 5,500 | - | 5,500 | - | 5,500 |
The George Martin Trust has provided a grant to be spent on equipment. The Hedley Trust is for activities for the young.
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RIGHT CHOICE ACADEMY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024
12 Funds
| Balance at | Balance at | Incoming | Incoming | Resources | Balance at 1 |
Balance at 1 |
Incoming | Resources | Resources | Balance at | Balance at | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 July 2022 | resources | expended | July 2023 | resources | expended | 30 June | |||||||
| 2024 | |||||||||||||
| £ | £ | £ | £ | £ | £ | £ | |||||||
| General funds | 1,031 | 673 | (789) | 915 | 740 | (840) | 815 | ||||||
| Restricted funds | 5,500 | - | - | 5,500 | - | - | 5,500 | ||||||
| 6,531 | 673 | (789) | 6,415 | 740 | (840) | 6,315 | |||||||
| 13 | Analysis of net assets between funds | ||||||||||||
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | ||||||||
| funds | funds | funds | funds | ||||||||||
| 2024 | 2024 | 2024 | 2023 | 2023 | 2023 | ||||||||
| £ | £ | £ | £ | £ | £ | ||||||||
| Fund balances at 30 | |||||||||||||
| June 2024 are | |||||||||||||
| represented by: | |||||||||||||
| Current assets/(liabilities) | 815 | 5,500 | 6,315 | 915 | 5,500 | 6,415 | |||||||
| 815 | 5,500 | 6,315 | 915 | 5,500 | 6,415 |
14 Related party transactions
There were no disclosable related party transactions during the year.
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