2021-08-31-accounts - Redbourn Care Trust

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REDBOURN CARE TRUST

THE FUTURE OF REDBOURN CARE TRUST

In 2016 the members of Redbourn Care Group (now Redbourn Community Group) voted to form Redbourn Care Trust. This followed a decline in the funds of the Care Group over a number of years, and was the outcome of discussions with advisers from what is now Communities First on how to reverse this situation.

The sole purpose of this decision was to improve the fundraising capabilities of the two charities by tapping different sources of grants not available to the Care Group. The Trust’s main objectives were to take over the grant-giving role of RCG and to support it financially. An important part of the strategy was to donate a large part of RCG’s assets to The Trust,

including the garage and £120,000 in cash.

The Trustees have now reached the conclusion that the professional advice behind the formation of RCT was misguided at the least. Over its five years of existence The Trust has failed to identify the grants that were said to be available and has had no real income other than one standing order of £10 per month, Gift Aid, and miniscule interest on its deposits. In part this has been because of the lack of capacity in The Trust, partly the disruption of the pandemic, but primarily because the original strategy was ill-founded.

The Trust’s bank account has played a valuable role in hosting the financial transactions of the Redbourn Coronavirus Volunteers over the last 18 months, and to that extent it has proved to be a useful support to RCG. At the same time the pandemic has caused the Community Group to reconsider the range and nature of its activities. Its evolving role now seems to offer little complementary space for The Trust to occupy.

In these circumstances the Trustees have concluded that there is little point in continuing The Trust, and are, therefore, proposing to the membership that the charity be dissolved and that all its financial reserves and other assets, including the minibus de donated to the Redbourn Community Group

Barry Welch, Chairman

RESOLUTION

It is resolved that the Trustees be authorised to donate all the financial and other assets of the Redbourn Care Trust to the Redbourn Community

Group, and thereafter dissolve the charity in conformity with Charity Commission requirements. The timing of the asset transfers and dissolution to be at the discretion of the Trustees.

Redbourn Care Trust Registered Charity Plo. 1169027 Balance Sheet as at 31 AW 2021 020 Book value 7,2LKI.(XI 20,(. I4,4.C) Garage 30,OLKI.LKI Minibus 36,(KK).LK) 28.8LK).tsJ 55.1JX).IKI 35.LIXI.LX) 7,200. 20,LWJJ.00 Ilrte1&2 23,050.61 HSBC 21692704 Current alc 76.214.68 COIF Deposit alc 99.265.29 31.775.98 76.244.33 108.020.31 Debtor5 7094.77 Amount to be refunded by Redbourn Community Group 150.760Th Totsl A55ets 135320.31 Represented by: Capital account 169.866.77 Balance b/fvid I September 2019 -19.106.71 Surplus/Defi¢it forthe year Grant towards Minibus purchase 150,760.06 15.539.75 150,760.06 Balano 31 August 2021 135.220.31 Note I In accordan wtth current accounting practi it has been decided to include FFxed Assets on the Balan Sheet at cost where known and depreciated over the antiC4pated life of the asseL Note Z The Trust purchased a new Minibus. in 2018. the approxirnate new price forthe vehicle as customised to our specification was £55.rJx). The Tru# received a Grant to assist in the purchase of £31.247 from West Herts Charity Trust wrth the balance paid by the Trust. We have reviewed the accompanying Balance Sheet ofThe Redboum Care Trust at 315t August 2021. and the Income & Expenditure Account for the year ended on that date. These financial statements are the responsibiltty of the Trust's Management Committee. Our responsibility is to issue a report on these financial statements based on our review. We conducted our review in accordan with the International Standard of Review Engagements 24Th). This Standard requires that we plan and perforni the wiew to obtain moderate assurance as to whether the financial statements are free of material misstaternent. A review is limited primarify to inquiries of Trust Offir5 and analytical procedures applied to the financial data and thus provide less assuran than an audit. We have not performed an audit and. according]y. we do not express an audit opinion. Based on our review, nothing has come to our atterrtion that causes us to believe other than that the accompanying finanual statements do give a t and fair view of the financial affairs of the Trust as at 31 August 2021. Date R. Harding- Accountsnt B.Wel¢h Chairman D. Poole- Treasurer

Rethum Care Trust Registered Charity No. Ilv Iorne & Expendknre summary for the >Tar ermled 31 AW 2021 Income Donations- General Interest Received Grft Aid Legacy Card Reader Credits Transfer from RCG ref Covid Grants I.() 29.65 30.03 i..00 22.174.81 21.250. Totsl Inc(xne 44W9 Minibus Garage rerrt Underclaimed Garage Rent Donations- Good Companions Xmas Outing Donations- Day Centre Garage Door Repairs Hardship case Grants Redboum Corona Ifirus Supwrt Sumup Card Payment Fees Depreciation 20.54 450.LK) 809.99 o. 41.020.68 558.53 I1.2.(} Total Expendlture 60.12424 Excess of expenditure ower income for the year 15539.75