Charity Reglstrntlon No. 1170878 Company Registratlon No. CE009464 {England and Wales) RAINY DAY TRUST REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
RAINY DAY TRUST CONTENTS Page Rewt of the Trustees Statement of responsibilitles 12 Report of the Independent Au¢*to 13-14 Statement of FinancAal Actmlh 15 Statement of Fln8ndal Posltlon 16 Nol8S to the Flnandal Stslements 17-22
RAINY DAY TRUST REPORT {INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 The trustees present their rwrt vAth the finanaal statements of the charity for the year ended 31 Dacember 2022. The Iruslees have adopted the provisions of A¢unting arKE Repojtng by Charities.. Statemgnt of Reeommended Practice applicable lo charities preparing théir accounts in accordance with the Financial Reporting Standard appllcable in the UK and Republic of Ireland IFRS 1021(effedive January 2015}. R•f¢rence and Admlnlstratlon Inforniatlon The Ralny Day Trusl w88 founded in 1843. and registere4J th Ihe Charity C(¥nmission as a CharStabl8 Incorporated Organisalion under charity number 1170878. Th8 Charitvs tnjstees and particulars professional advisers are included wilhin this trustees report. The Charity became a CIO on 21 Decembèr 2016. The finand81 statements for tha CIO represent the combined assets. liabilitios and funds of the legal enlilies as though thèy have always been part of the same organisalion. Th8 Iruslees conslder this approach to be n${Stent wrth the requiremenls of the SORP and It provldes 8 clear comparative of the financ¥al statements an¢J financial posibon th previous reporting periods. The treBtmenl Is appropdate because the CIO was formeil expr8ssly to tske over the wort of the charity. The two entities have the samè name and address and are paty lo the same organisation. There is no significant change lo the beneficiaries. pufposgs or CA)ntrol ol the organisatson.
RAINY DAY TRUST REPORT (CONTINUED){INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 OBJECTIVES AND ACTivrriES Charitable Objectives The object of the CIO Is, for the publ benefft. to relieve and assist pers¢)ns In need %tho are. or have been engaged in, hardware l DIY, housewdres. brUshWa. pottery. glass. buiklers merch8nts, ironmongery. garden supply, and all allied tpdes, and their dependants. in particular, bul not exdusively, by providing advice. support and fin8ncial assistance. Vision and PAisslon Statements Our work has always been driven by 8 desire lo provid8 SUPPOrt 8nd information to people from our industry. To achiev6 this, the Tnjsl has adopled the Vision and Mission slalements as set out lOV. Vl8lon Statement 'The RDT is working towards a time when all th¢)se who have w0ed In the home Improvement and enhancement industry have the lunds they need to live." Ml88lon Ststemont Yhe Rainy Day Trust will work ly)th along and In partnership vllh other organizallons. elther commerclal or charitable, to provide fln8nci81 and other assistanc* that wll improve the quallty of life of those indlviduals 8nd familles from the Industries that rt supports, who h8V8 f811en on hard times." To support those statements, 8lso devéloped a $0ri8s of charfty value8 that help undèrpin tho work.. Tran8paroncy and openness We wlll bulld open and transparent rnIatiChIps to help us doliver better 8erylces lo th¢)88 that naèd our help. Falrness and Equ811ty We wlll treat everyone vmlh respect and ur$faniry. En•rgy In purnulng our goals We will not rest until we have done all we can to wovide tho help thal an applicant needs. Incluslvlty W6 listen lo everyone's view, giving equal weight to their opinion. We lIabOrate wth partners lo ensurg that we Includè 88 many views as possible on our seNces. Compassion and empathy We will never be ludgementsl of othe. we wll Itsten. leam and understand the needs of those we are seeking to help.
RAINY DAY TRUST REPORT {CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 Public tleft The trustees confim that they have referred to the Charity Commission's general guidan on public benefit. and on the prevenlion and relief of pov8ty when remewng the Trust's perfomiance against rts set objedives. and planning future activity. In all of the Trust's adivities, both cJJrrenl and planned. the Board of TnJsl8es is confident th81 the"publiG benelll requlrement" is mel. For all applications to the Trust, the assessmenl of the appIltn tskes into acLount the househoid ineome and expenditure. A s8vings limit has been set, and in the main all applicants are on a very low income or pension. The Trust does not give preferential treatmont lo any demographic group. and attepts applications purely on an obledve sel of eligibiltty tsrIa. The Truslees have tak8n the view that %there we are able lo make a material difference, parts"cularty with priority dobl, %ther8 eviction or imprisonmt may be prevented. we will considar dealing an appInts debt. ACHIEVEMENTS AND PERFORMANCE Chalrman's Report Last year lestad the Charfty once again as income eam8 under pressure and the needs of our beneficiary group increased, drlven by higher inflation and cost pssureS on the most vulnerable. The Board look th8 deaslon very early on In the year that we would not tum pe¢)ple away and help everyone that came to Lts. The wot1(load on our 8m811 staff team grew lo the pobnl that we had to r8cruit an administrativo assistant so that the CEO and OM could focus more attentn on Income generatbon and dealing requests for help. The addifjonal cost was unbudgeled, bul we felt that the rwd w8rranl6d the extra CA)St. Wa beuan a programme of f8ce-k>f8e* vists to business acrw our sectors, alming to inuease aworoness of our support offering, an¢J encouraging pwle to seek help early. rather than wail unts'l their problem$ wore t embedded for us to have a meanSngful imp8Ct. Prevention is ahways bettor than cure. The challenges of the year have made our ¢worate partners more imwrtant than ever and we are gr8leful to those businesses that have continued their k)yal support for the Charity. Without them, the year would have been conslderably more diificult. Likewse. I would like to thank cmjr trustees for their effotts throughout the year, sprèading the word and being the most powerful amb8SS8dors for our work. though a drfficull ye8r in many ways, we continue lo be [oud that we can mako such a drfferancè lo so many pèop16. Our aim ie tslwoy8 to bo non-jud9ém•ntsl, and offer 939i8tance as quickly aa poa•iblc. Next year ia golng to be equally challanging, but with tha support of our industries we will weather th8 stomi. James Norton Chairman
RAINY DAY TRUST REPORT {CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 Chlef Exg¢utlv¢ Officerfs Report Twenly twenty was dominated by ts¥o global events., the inva&on of Ukraine and the rise in gas and electricity bills. As the nation emerged from covid-19 expectations had been high for a year of consolidation and re-building. We had hoped lo replace SLvne of the lunds that had been wlhdrawn from reserves during the prevlous 2 years. However, wilh the events mentne(j atK¥v8 and rapidly rising Inflation we saw 8 huge Incr8a8e in application ral6s as well as rising costs for ourselves. In the first half of 2022, applicalitx)s for h8lp ware running at nearty tiiple traditional levels. Awlicants wer6 1 talkn'ng aLKJuI Ihe same problem.. surviving on a day- ttrday basi5. Raquests for help focussed on uliltty blll ayrears and neral livlng costs. Requests for emargancy funds ware tha hlghast that the Charity had ever seen. PartnehIp working with our peer charities increased as we sought to share the financial burden. The upside was that th8 majority of the applications were SIM to process an¢J so we could lum th8m around quickly. deliverlng assistance wthin 48 hours. Thls proved lo b& incredibly important 89 tha mentsl h881th of our applicants suffered as Iho slress of their financial wtuation look tts toll. The f88ding frenzy whipped up by the press didn't help mattors, but it did drive poopl6 to us for holp oarty rather than when it was t late. The impact on OUT I1orne from rising inflalion was that people h8d less disposable income ond.. th8refor8, 18SS to donate lo charity. A similar srtuation emgrggd with our corporate supporters as well as busIneSs reg1@d from Ihair own inflationary pr8ssure$ as w811 as being left with tco much stock from th8 and of 2021. Every part of our Income genoralion progr8mme was squeezed forcing us to adapt quirJ(Iy, ty'ng to tske adv8nlage of 8ny opportunlty that presented itself. We are most gratefvl to a core of businesses thal not only gave us dlrect financlal support but also donated stock ttems for us to setl and raise money.. a way for the business to save money on wast8 eA)118ction charges lor old or Sam• stock, and for us as we could turn 8round these items quickly. It was a dassic example of charty and business working together for tha ben8fit of all. Ploasingly, Homebase IcAned the Charty's partnershlp scheme and the onJanlsatbns are now cooperatlng dosoly on helping Homebase staff. As In 2021. Stax Trade Cenlres, SIG. Dormole and NBG remalnod slgnlflcant 8UPPOrter8 of the Charity and we are immen86ty grateful for I1r trust in u8 to detiver an effectiva servico. Bryan Clover Chlgf EX¢tIVe Offlcor Grant Maklng R•port Actlvlty for the Y•ar Although the worst of Covid-19 wa8 over during 2022, impact to be fdl. In addition, global event8 such as Ihe invasion ol Ukraine and the subs8qU8nl sharp ris8s in gas p$ reached deep into the UK economy. Applications for assistance centred utilty bills and rent arraars vthich was no 0al surprise. The group of annual award reCIpts fell genuy during the Ts8 of the year as our older ben8ficiarfes 88dly passed away. Elsewheffj. the average age of applicants fell and young families became mor8 cL)mmon. Not surprisingly, mental health protAems Nb*re wdely reported 8nd our teleph(8 counselling 8eNce offered 8 simple yel effective $0Sulion lo those trying lo deal wth multiple prob18ms. We al80 continued lo brief busin8s88S on how we Can hglp staff through the problems they were laaThJ. Evolving Service Delivery Being small and agile. we were able to nstanY adapt duriNJ the year, meeting the changing needs of our beneficiary group. We found new ways to help reduce stress and anxiety and. here reduce the financial impact brought about by these conditsons. Our focJJs as always is on improving a famills or indiv¢dual's financial positi(, but we n88d to b8 flexiblè in how we achieve that. Many OLtside pressures such as stress and anety, or other medical conditions affect a familWs ability to earn in¢x)me. so we h8ve sought to help WheVer wts can.
RAINY DAY TRUST REPORT (CONTINUED){INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 Grant Assossment All applications for grants or financial assistanc8 are CA)nser8d and fully ass&ssed by the sub contracted case- working team and a either passed to th8 CEO for a decAsion rf within his delegated powers of 8Uthority or sent to the Grants Committee in 8e£ordance wilh a detsiled and obiecb.ve sel of guidglines. Th6 Trust's aim Is lo bo fFexibl8 in the way that It follows the eligibility criteria and rt understands that applicants do not always work to a 'one size fits all. standard. Ovedawng our prcKedures is the view that as a benevolence chanty, our prirnary aim s lo help people from our industry and we will aayS aim lo help wherever we can. Where we are not able to help directly, it is (xjr policy to identfy altemative sourts of asslanC8 and refer ihe applicant on. The Trust's Constitution defines our industry as indiwduals and their dependants. who have worked in the HardwarelDIY. Housewares, Pottery & Glass. Brushware. Builders Merchants. Garden SuptAy 8nd 811ied trades. This is a very broad and evolving group and lo guide our 8ssessm8nls. we use the prcxluct cal8gory listing from the British Home Enhancement Trade Association IBHETAI if the company the applicant workad for m8nufactured, distributed or soid the prt>Ju¢ts in that lisb'ng. il is highly likely that the indiwdual would mèet our occupational crilerion. Thls gives us a fairty exhaustfve. but not complete. list aj we w(yJld alm lo de81 with other businesses or products sympatholically. There are no age restrictions for those who the TNSI helps.. h¢)wever. it 1$ worth noting that for those in telp1 of 8nnual awards, about 314 are over 65 years old. All beneficiaries have wort¢ed for a qualI.n9 company for al le8sI 1 year. This length of servico requirement w8s reduced from 3 Yea in M8rd) 2017. An example of those who could be helped would be those who are unable to work to an illness or disability, have been made redundant, or are retired on o small pension. People who arg Still wothng could also qualify for assistance If they 8r8 Ilving on 8 low income. The Trust has 8 savings limit linked to tha uppgr DWP capital limit. Rather than h8vlng lo keep recording a change each time the DWP rules changes, we do not refer lo the limit itsèlf. Personal POSSgsslon8, belongings and the per¥c'S home are nomwlly Ignored kn 8$88sn9 caprtal. In income t8mis, the Trust would aim to pwde financi818SSiStanc& lo those applicants who are in receSpl of m8ans4asted b9neflts, such as Inttjme Support, Job Seekers Alowane, Pension Crodil, Employment Support Allowanc8 and Housing Benefit. The roll-out of Universal Cred51 c¢Jnténues to be 8 major cause of concem not only for the redplents, but also for the ch8rtty 86Ctor as a whole. The del8y8 in recelving fvnds, leave people slruggllng lo psy even th8 most basic of bills. We feal th81 whan we SIder expendllure, rt is Smwjrtant to consider eath 8pplicanl's circumstsnces fully and not make generdlisalions. For ex8mple. th6 prowsion of publlc transport in London is much better Ihan th81 in 8 more rural location. and so a (gr might be considered essential in the countyside. Moreov8T. an garty Intervantlon In 8 case ihai Is Iusi Outslde our finBllu81 (xrteria rUld prevent a problem becomlng wors8. Voluntoar Home Vjslts Every 12-18 months the majority of benefiaèries are wsited by a voluntg8r who provides a direct link lo the Trust and also allows us an insight into the beneficiary's on-going needs and how they have changed over time. Once again in 2022. Covid-19 curtailed Ihls work 8s we were unable to operats the system safely and wthin Cowd safe rules. Instead the Connect Assist caseworkers made contaci by telephone lo cheL* on the beneficiaries. For some, the visit is their only c(Intsct with the worfd beyond their family. The annual wsil is invaluabl8 In that it18 the only face lo face contsct wth the applKant thal w8 have, and is a rdre opportunity to S9e how else w8 might be able lo help them. Many applicants find the prsS of app.ng for charilable aSskStan difficult and ¢Jon't like lo ask for more than they need. By using a volunteer, we can encourage Ihem to identify other fomis of assistance that they may nagd and achieve a better quality of lrfe. During 2022 no home visits were Caled out due to Cod-19. {2021.. 01.
RAINY DAY TRUST REPORT (CONTINUED){INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 Supportlng Programm•s The Charity believes that by enhancing OUT grants programme wih other areas of help. we can help applicants tackle the undedwng causes of pov8ty, not just the immedrdte impact of need. Our range of semces ara tjesigned lo help achievo this. These indude.. IEX a free one-hr lel8phone based al seMc£ giving beneficAaries the oprx)rtunity to see legal advlce al no cost. We are able to pay for fdkm up sessions If required. Counsellin five x 30-minute telephone basetl cx)unselling sessions for those wth minor rnenlal health issues that struggle with la1013c£ support semces. Our aim is to taCe stress and anxiety allowing individua18 to lead a better life. rentlceshi ¢)rt - financial SUPFlJrt for apwenbces ocross the enty, delivered through established suppliers whereby the Charity provides either direrA fin8ncial support or the provision of safety equipment. toolkits and other related items. -Leamin - a range ol &Leaming pacaages designed to help irKliMduals r&traln, or Improvo their 6mployability. a free debt advice and solutions programme dolNered on our behalf by tho Debt Advice Foundation. This $8rwce is free to both the 81 Lbser 8nd the Trust. the provision ol an on-line Welfa benefits calculator. free at pjint of use, lo identify the welfare benefits to which on indmdual m8y be entrtled. The calculator Is provlded by Entitledto, the leading welfare benefits provld6r In UK. Tenovus C rCareP hl - the provL8lon of a wlde range of help and advicè lo those aff19d by cancer. - the provlsloft of freg LED Ilghlbulbs. ECO shower hoads 8nd r8¢Ji8tor reflectors d8'gned to drlve dL)wn energy usage and 80 Cut 8nergy bllls In the kJng8r tom. Supporters and Partners Wg have beon priviloge(J to T1ve SUFPOrt from a wlde variety of sourc6s, induding businesses in the irnluslries that w8 arg allied to. The Tnjslees would like to offer their thanks to a number of foundalions Ihal have made donations or provided help to the Trust during 2022. Many ITusls and foundations supported our work during the year, many have asked not lo bg namod in our report so we have removed the list.
RAINY DAY TRUST REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 FINANCIAL REVIEW Financial Position The trust finlshed the 2022 financial year wth an operatino defiat of £72,936: 8 deterioration on 2021 where the loss was a It0 over £13.0. Once again. the Charity was wrating as lean as possible throughout the year, and opportunities to lock in cost savings were takw whenever they appeared. Global events hit our income generation plans and many cancellations across our industries resulted in mayjr falls in incoma. including Ihe C8ncdlation of the Rally once og8in. Our original budget for 2022 forecast a loss of £53,766 and th6 808rd look tha datision Ihal none would be tumed away if they were in need of assislance. The biggest area of sueeÉss in fundraising lemis was Corpor8le. despf¢e many businesses faillng to renew Ihelr partnership with us. Just as in 2021, the final 6 weeks of the y88r saw a signfficanl improvement in income. with malor donations from Stax Trade Cgntres. NBG and SIG Rwfing. Support from our corporate partners was stronger than ever, with more partners ioining a1 greater involvement from existing members. SIG Roofing made us Ihelr industry charity of the year, and w8 a grateful to many other businesses for bdiewng in us. Pleaslngly, Homebase jolned their ranks and we 8r6 Y(Ing closely them to thè b8nefft of their staff. Annual award and sundry grants lor 2022 grew to £164.227 (2021.. £138.4971,' the growth held lo man898abla levels by Careful purchasing of items Tequesled. Ouring tha yaar tha trustaas continued the pollcy of making annual and one-off grants, assisted benefiuaries towards the cost of tslgwsion licences as well as m8klng Wards for holiday grants, l818phon8 eosts and the new fu81 wverty grants. During the year wé mado a total of 56 annu818wards and 204 orwff gffts. a big jump on 2021. with a kjl of 8LttdSllonal help given for mental h8alth issues. Importanvy, we 81s0 helped applicants nawgale the often complex arena of seeking spedalist support that RDT was unatAe lo offer. Our youngest benefi¢l8ry was a 16 year old appr8ntlc8, and the oldest was 99. Ouring the year 73% of cwr 8ppllcants came ffom families of working aga, with a reducing number from pewe of retirement 8g8. We gently pul our toè$ back into the waler of appr8ntlo•ship tools, but dld not do any marketing lo IL Fundral8lng p•rfomian¢6 As had happened in 2021. the furKtralsing 8nMronmenl was vary twh during th8 year across 811 of our income generating activities with the exception of Corporate, auctions of donated stock and Iha Christmas Appoal. Companies continued to make 9enefOUS Oonallons of stock for us lo sell on eBay, Facebook Marketplace and other platlom)s. The corporate partner and suk)suipliC income improved again at É82.976 in 2022 {2021'. £76,279) whi18 income from donations fell slighlfy to £86.949 {2021= £87,835), the generty of Stax Trade Centres, NBG and SIG Roofing hèlped us enormously at year end. Again. as happened in 2021, gen8r81 trading uncertainty forced a number of companies to cease their partnership support altogethei or focus on Chan1 Ioc811o them. Historically, 8 good source of income. all of the award dinners during 2022 came in below forecast, indicative of a general fear around ffin8ncAal stability. However, On again the Christmas Appeal was strong vmth us surpassing our target of £6,000 lo support the Christmas h8mper programme. raising £7.467 bolster&J by generous support from NBG Iscwth W8StI. Our own DIY Shoot and Gold class were run once again after the hXkdO4 rancellatk)ns. although the DIY Shoot was well under forecast. The Karling event was cancAled as was Ihe Bob Beaver Memorf81 Shoot.
RAINY DAY TRUST REPORT (CONTINUED){INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 Reservos Poll¢y The Trust operates a reserves policy svith a totsl relum approach and a medium aititut18 lo risk. The difficult fundraising environmènt of the past 2 years has had a major impa¢1 on our reserves. but the Board of Trustees believe that our prrity is to meet the n88d of those stnjggling. and so are oJnlent with the current plans. The trustees still tske the view that a certain level of free resae$ must be retsined to ensure that we are able to maintsin our payments to those beneficiaries that receive ongoing regular paents. This view proved lo be prudenl as tt allowed us to survive Ithal was undoubtedly a tothd year for InMe generation. Without stable reserves the chaiity may not have sutvived the year. Inve8tm&nts Poll¢y As al 31 December 2022 the Trust held tnveslments and cash al bank wth a marf¢et V81ue of £589,201,. 8 decrease on the same position at the and of 2021. We have a m8jor asset in our 8p8ca 1th ha$ also 91p8 Iwth the diversthcation of our assol b8So should the stock m8rket suffer a major f811. The Trustees monitor the rfOmnce of thes8 Inv88tmerts on a quarterfy basis both absc4ulely and by means of comparison lo the Retall Pr1&8 Index, peer benchmarks and to relèvant 8tc¢k market Indicd8. Tha Trustee8 have given the Invostment managers discétion to manage the rortfolio. Futur• Plans We had hoped th812023 would 8ll¢JW us some breathing Space and 8 lo rebulld reserves after a tough few years. However. il is Ilkely th81 thè problems facing the worfd will make thal unllkely. As always, we will have to stsy alert of inrne 98neralion opportunities and see how Ihlngs unfold. We are l¢)oking foJv4ard lo the P3veslone Rally Sn Sèptember 2023. STRUCTURE, GOVERNANCE AND MANAGEMENT Goveming Documont The Charfty. operallng under ts ststus 88 o CIO, h88 a conslitubon as Its goveming document {reglslratlon number 11708781. The trustees, who are 81so the directors for the purpos6 of tmpany law, and who s8N8d durfng the year wèrè.. MrJ Norton Ms C Holland Mr H Boyce Mr R C8mpbell-Drew Mr S Clemson Mr S Donaldson Iretlredl Mr A Frogley Ms F Garcia Mr D Hibbert Ms A Hicks MrJ Moody Mr J PcM)re (retidI Mr A Williamson {retired) Mr R Willis
RAINY DAY TRUST REPORT {CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 Recruitmgnt and appolntment of new trustees The Constiluts'on permits up lo 15 trustees. although for the durdlion of the year the charity opèrated wth 14. Routinely, Irusle8s serve for a Ihree-year term. bul can be re-elect for a furthw three y68rs. All trustfjgs sign a d8claration of 8eptsnCe and agree to act wlhin the ConstittJtk)n of the Trust. On election. Trustees receive a detailed briefing of procedures and management and are also given an inductk)n p8ck with full detsils about the Charity. They ar8 given acc6ss lo Trustee Training Cours8s organised by thlrd parties. Organl$atlonal Structure The HoTh)rary Officers together cL)nsts"lute a Finance and Exeujtsve Commlit86 0rating to a separate sel of Terms of Reference lo which the Board may, from time to time, delegate suth of its functions as il thinks fit. The Finance and Executive Committee has continueo lo prowde responsive admce and guidance to th8 CEO on laklng the Chadty's aotivilies and programrnes tOrd during whal became 8 y88r of consdidalion. The Board of Trustees 1$ SUPPLy1ed in tts by a number of sulK<Nnmittees.' - to leW and rewrt to the Board ¢)n the rnanagemenl accounts and inveslmenls. and deal wth all govem8nce rel8led issues as directed by the Board. lo Ovar the fundraising and events prolect8 and to provide spe¢i8list adwce on all marketing and cmnIcall0S activity. rnitte lo recommen(i onwng policy relating to grant-making and review and make decisions on grant applications within the teriti set by the Constttution and the Board. The Board holds four meellngs a year und8r a comprohenslve 8gend8 coverfng finanG8, ndraIsIng and welfare issues as well as discussKJns and derAsions relaiing to fvttjre strategy. At the Board meetings, the trustees agree the on-golng strategy for the Trust and rèmew the activities Sin the prewous meetsng. Thè Marketing and Communiealions and Income GeneraOn Commlttee and the Grants C(Millee each meet twleL 8 yéar. All trusloos give Ihelr me freely. Trustfjes rnay daim travel and 8ubsistencL expenses should Ihey choose lo. Managèment For 2022, the M8nagement of th8 Charity was veste(I In 8 Board of Trustees whlch was Cmpris8d ol the Chaim18n, W¢e-Ch8irman, the Hon¢yary Sgcrelary. the Honorary Treasurer and Members. The d8Y-tCd8Y runnlng of the Charity is carriod out by th8 Chiaf Ex8rJJtive Officw.
RAINY DAY TRUST REPORT (CONTINUED){INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 Fundralslng Our approach lo fijndraising has always fdlowed best pradice and ensu that we never apply undue pressure on donors. Our main focus has always been on rai&ng lunds from tho cA)mmerryal saclor rather than individuals. We can slate cleady and categorically that: Our fundraising advrty wlll ahvays operate 1n the law as defined by the Chariti'es {Protection and Social Investment) Act 2016 and the guidance as laid in the Charity Commission's documents CC15b and CC20. b. That our independent fundraisers wll onty make applicalnS to trusts and foundations and never lo individuals. They will be monitored closely and all fundraising approathos musl be $fied off by the Chief Executive Officer before submission. All fundraising activity will conform to Ihe stsndards 8s laid down by the Fundraising R8gulalor. d. Any complaints regarding ffijndraising wll be dealt wth faidy and openly and lessons 18arned wll be applied immediately. a. Our fundraising acliwty VAII 81ways protecl the public. induding vulner8ble indiwduals. from inltusive or p8rsislenl fundraising approaches. Flnanclal Statèm•nt• Law appliCae lo charitres in England & Wales requires the Trustees lo prepare flnandal statements for each rinancial year which give a true and lair view of Iha charitys fin8nci818thvities during the year 8nd of ils fin8ndal position al the end ol Ihe year. In prepariro fin8no.al statements giwrwJ a tnje 8nd fair view. tha Twstees should follow best practlce and.. Select sultable accounllng 1leS and than apY them wislstenty., Make judgern8nls an(J estimates that are reasonabje and pwdenL state whelhgr applicable 8c¢ounting standards and statements of r8command8d practlce have bèan followed, subl8Ct to any departures disclosed and explained in the fin8ndal ststements", Prepare the financl81 stslements on thé going conCn basls unl08811 Is Inapproprfato lo presume that the charity ll11 contsnue in operation. Tha Trustees are responslble for keeping accounlng recAirds whlch dlsdose th T8asonabl8 8ccura¢y the finanaal posilion of the charity and whith enoble thom lo ascertaln the fin8na81 position of the charity and which enable them to gnsure that the financial statom8nts o)mply wth the Charitiès Act 2011 and tha ch8118$ (Accounts and Repottsl Regulations 2008. The Board have appolnt8d 8 Chief ExatiVe Officer tr catyng out the strateglc plannlng, operatlonal delivery of servicgs and adminislralion ar)d general work of the Trust. together th duties of a routlnfj nature delegated by the Honorary Secr8tary. The Charity 15 based al its Head Offi( al 8 The Ctsjrtyard. Harris Bu8Sn8s8 Park, Hanbury Road. Stoke Prior, B60 4DJ. The Tnjst has developed systems of inlemal ry)ntrol whlch are des lo prOe reasonable, but not absolute, assurance against material mis-staternanl loss. They include.. Regular cnsIderation by the TTUStees of financial results, varian( from budgets, non-financlal pertormance of indicators ben(*markn'ng rewews., Delegation of aulhority and segregation of duties where practicalty possible; Identification and managemenl of risks. Related parties The Trust has 8 100% ShahOldIng in RMTBS Limlted. a company incorporated in the UK. RMTBS Limrted undertakes the organisation of some of the Trust's fundraising activrties. 10-
RAINY DAY TRUST REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 R5sk managom•nt The Trustees have established a robust risk managernent policy arKI believe that they have identified the Tnaior risks lo the Charity. The major risks are.- financial sustalnability.. meeting the evolving n6ed8 of our beneficiary group, and growing the Trust's charitable aCtiveS in a planned and managed way. The Trustees apply 8 risk man8gement process lo assess tMJsiness risks and implement risk management strategies. This involves identifying the types ol risks the charity faces. prioritising them in temis of potential impact and likelihood of occuffence and id8nlifwng means of mitigating those risks. Safeguards ar8 established al all points in the control of our finanual actmties, and reputational risk is managed by onsuring that strict sign- off protocols are adhered lo. The Charity Is c£Jmmthd lo.. Actively managing risk in a way that does not hinder our charilable work. Encouraglng an open ond h(e$l di81ogue wilh all $takthder grjpS to fos¢er leamlng and shared experience. Embedding the Control systgm in the Ch8ritys operations so that It brneS part of Ihe cvtture of the Charity. Developlng systems to respond ¢wickiy to 8volwng risks frcrfn factors wiihin the Charity and lo than9èS in the external environment. Includino the procedures for reportlng falling8 immedlately to appropriate levds of management and the Tru818eS togolhgr wilh detalls of correctiva &tk)n b¢ing undgrtaken. REFERENCE AND ADMINISTRATIVE DETAILS R•gl•tsrnd Charlty number 1170878 Rogl$tered Company numb•r CE009464 Prln¢lpal address 8 The Courtyard Hards 8uslness Park Hanbury Road SIOKe Prlor Worcestershlre B60 4DJ Audltors Cognilor Accountsncy LSmite(J 12 The Ctryjtyard Bunlsford Drive Brornsgrove Worcestershire B60 3DJ 11
RAINY DAY TRUST DIRECTORS. RESPONSIBILITIES STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022 Tho trustees ar8 responsible for preparing the Rep(Yt of the Trustees and the finanaal statements in alrdance th applicable law and United Kingdom Acxounb"ng Standards (United Kingdom Generally Accepted knounting Practice). The law applies lo charities in England and Wales, the Ch8dties Aci 2011, Charity (Accounts and Reports) Regulations 2008 and the prowsions of the trust deed qUireS the tnjstees to prepare finanaal statements for each financial year which give a Inje and fair view of the stste of affairs of the charity and of the incoming reSoUrS and application of resources. induding the income 8nd expenditure. of the charity for that period. In preparing those financial statements, the Irustses are required lo Select suitable accounting policies and appty them cg)nsistsnty Observe th8 mèthods and pr5ndples In the Chaiity SORP Make judgements and estimates that are reasonable and wudent Prepare the flnon¢ial stalemenls on the going u)nc6m ba*8 unless Itls 8ppropriale lo presume that the charity wll continue in business. The Iruslees are responslble for keeplng prtsr e¢XIntiftg récdrd# which disclose with asOnable accuracy al any time the financial position of the charity and to enable them to ensure th8t Ihe financial slalemenls Comply with the Charib'es Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responslblg for $8fegu8rding the assets of the charity and hence for tang re8son8ble steps for the prevention and detection of fraud and other irregularities. Approved by order of tha board of trustges on ............................................. and SIgn on thelr behaw by.. J Norton - Tru8tse 12-
RAINY DAY TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF RAINY DAY TRUST We have audited the financial statements of Rainy Day Trust for the year ended 31 Decembar 2022 which comprise the Statement of Financial Activities. the Statement of Financial Posrt"bon and notes to the financial stslem8nis, including a summary of sionfficanl acc(MJnling policies. The finanaal reporb.ng framewod( thal has bean applied in their preparation is applicable law and Uniled lQngdom Accwnting Standards {United 'ngdoM Generally Accepted Accounting Pra¢ticel, including Financial Reporkn"ng Standard 102. This raport is made solety lo the chariws trust888. a8 a tojy. in acrrnlance section 145 of the Charities Act 2011 and regulations madè under section 154 of that Act. Our audit wort has been undertaken so that we might stale lo the charity's trustees those matters we are required lo stale to th6m in an auditors. report and for no other purpose. To the fijllesl extent pem)itted by law. we do nol accept or assume responsibility to anyone other than the harity and Its Iru8lees as a bcKly. for our audit work. for this report, ty fly the oi%nions we have fomied. R•8POCtlvè respon$lbllltl•s of tru8tths and audltorn Ro8ponslbllltlè8 of tn99¥ As explained more fully in th8 Statement of Trustees Responsibi1it18s, the trustees are responsible for th preparation of thè finanaal statements which give a tnje an¢J fair view, and for such inlomal control as the Iruslees determine is necessary lo en8ble the preparation of finanii81 statements that are free from material misstatamenl, wh8ther due lo fraud or error. In pparfng the financial stslements the trustees are responsible for assesslng the d)artty8 ablllty to c£)ntlnu8 as 8 golng concem. dlsdosing, as applicable. matters related to going eoncem and using the going concern basis of accounung unless the trusl8e8 elthar Intend lo IK4uld8te the d18rlty or to c8ase ¢yr8tion8, or h8ve no realIso allern81ive bul to do so. Our ra•ponslbl1Sts for the audlt of tho Ilnan¢lal 8tatsm•nt# Our responsiblliti8s aro lo obtain reasonable 8s8ur8nce about wh6ther thè financigl stslemenls as a whole ar8 fr88 from motèrial misstatemenl, whether due to fraud or error, and to issué a Report of the Indep8ndenl Audltors Ihal Sn¢lules our opinion. Reasonable assurance is a hlgh level of assurance. bul il Is nol a guarantee that an audrt conducted wlth ISAS {UKI will 81w8ys detect a material misststement when it axists. Misstslements can arisè from fraud or error and are considere(I material. if. Indmdually or in 8ggreg8le. they cKJuld reasonably be expected lo Influence the economlc deusions ol users taken on the basL8 of Ihe88 financ4al ststements. A furthg.r dp$cription of our r88F)cJnsibilitifis fnr lh Hijclrf of the fin¥nu41 stat8m&nt% IA loetad on th4 Financial Reporting Councll's website al www.frc.org.ukj8uditor5responsibililies. This descripts'on fomis part of our Réport of the Independent Auditors. S¢opts of the audft of Ihe accounts An audit involves obtaining evidenc£ about the aTh)unts and dlsdosur88 in tha aco)unls suffic48nl to give reasonable assuran that the accounts are free from material misstslemenl, whether caused by fraud or error. This Includes an assessment of.. whether the accounting KK)lioes a appropnale to the tharitable company's circumstsnces and have been consislenlty applied and adequately disclosed.. the reasonableness of significant accounting eslimales made by the trustees.. and the overall presentation of the accounts. In addition, we read 811 the finan¢ial and non-financial infomalion in the Annual Report lo identify material incons¢slencies with the audit8d accounts and lo idenlrfy any infomiation th8t is apparenuy materially incorreca baswj on, or materially inconsislent with, tho knowledge 8cquired by us in the ¢xJur3e of perfomiing the audit If we become aware of any apparent matarial misstatemants or inconsistenci8s we nsider the implicAtions for (wr report. 13-
RAINY DAY TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF RAINY DAY TRUST Oplnlon on a¢¢ounts. In our opinion the accounts.. oive 8 true and fair view of the state of the thaiitable companys affairs as at 31 Deeember 2022 and of its incoming resources and applicatson of resources. including its ino)me and expenditure, for the year then ended., have been properly prepared In acc¥)rdonce Unlled lQngdom Generally Accepted Accounllng Practice,. and have been prepared In ac(x)rdants wth the requirements of the ChartOes Act 2011. Mattor$ on whlch w• are roqulr•d to raport by excoptlon We hav8 nothing to report in respect of the following matters whare the Chanlies Act 2011 requlres us to report lo if, in our opinion.. the information gNen in the Report is inconsistent in any m8tsn"d respect wth Ihe aCUnts,. or the accounts are not in agreement the accounling records and retums,. or we have not receivgd all the infomation and èxplanation$ roquire for ow audit. other matt•r Con¢luslons rnlatlng to golng concom We have nothing lo report In respect of the followng m8tters in relation to wthich thè ISAS IUKI rp4ulre us to report lo you where.. The trustees, use of the golng COnM basis of S(Unting in the preparation of the finanool $t8tements Is not applicable or Tho trustO8$ havo not dlsckthd In the ffinanaal ststements any Identlfied malerlal uncert8lntlas that may Gasl signiflcant doubt about the charlty's ability to continue to adopt the going ¢oncem basls of accounting for a pertod of at least tsvelve monlh8 from the date when the finanual slatements 8r8 aulhorls•J for Is8Ua. Mr Mark Wamian {S•nlor Ststut¢)ry Audltorl Cognltor Accountancy Llmitod Chartered Certlfl4d A¢countsnts Statutory Audltor Eligible lo act as an auditor in temis of sec*on 1212 of the Companies Act 2C 14-
RAINY DAY TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022 Unrestricted funds Total 2021 Nots8 Income f Donats'ons andlggacles Charitable actth'tlos Investments 224,388 37.799 24,789 224,964 39,271 24,962 Total Incom• 286.976 289.197 endlturn Raising funds 5,458 ,849 5,458 6.849 Charftable activities 354,456 295,534 Total resour¢•8 expended 359,914 302,383 Nel1089e8 I (gains) on Investrnents 11 1CQ,515 {88,4381 Not movement In funds {173.4531 75,252 Fund balar$ al 1 January 2022 1,402,001 1,326.749 Fund balances at 31 Decambor 2022 1,228,548 1,402,001 The stat8m8nt of financial activits•$ 0180 com10$ with th• UIr&M•fjt8 for an income and expenditure gccount Ur$r the Companies Act 20C6. 15-
RAINY DAY TRUST STATEMENT OF FINANCIAL POSITION AS AT31 DECEMBER 2022 2022 2021 Flx¢d as$gls Property. plant and equipment Investment properties Investments 12 13 62.830 352.313 714.774 62.830 352.313 837,660 1.129.917 1,252,803 Current as$gt$ Trade and other receivables Cash al bank and in hand 14 51.602 61.232 45,510 109,107 112.834 14,203 154,617 5.419 Current liabSlltlos 15 Not cutTent assels 98.631 149,198 Total ai80ts1088 curr•nt Ilab1111108 1.228.548 1,402,001 Income funds Unraslrlctèd fund6 1.228.548 1.402,001 1,228.548 1,402,001 The financial slatemenis wfjrg approved by the board of tjlredcrt and authorised for issue on .. are ign8é on Its behaff by. and r J Norton rust88 Ms C Hollond Trustee Company R•glstratlon No. CE009464 16-
RAINY DAY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policies Company Infomiatlon Rainy Day Trust is a private company limited by guaranlea inLx)rporaled in England and Wales. Th6 registsrgd offi¢x is 8 The Courtyard. Harris Business Park, Sti)ke Prior. Bromsgrove, B60 4DJ. 1.1 Accountlng convention These accounts have been prepared in accordance FRS 102 Yhe Financial Roporting Stsndard applicable In the UK and Republic of Ireland. I"FRS 102.1. 'Acewnting and Reporting by Charities. the Statement of Recommended Practice for thartties applwng FRS 102. the Companies Act 2006 and UK Generally Accepted Accounting Practif* as il appli68 from 1 January 2015. The is a Public 8en8fil Entity as defined by FRS 102. The accounts ar8 prepare(l in sterfing, whlch i8 the fvndional cuffency of the company. Monetsry amounts in these finan¢ial stslements ar8 round to Ihe nearest £. The accounts have l)een prepar&J on the histryical cost tx)nvention. The princ4pal awunting p)Iici8s adopted are s61 out below. 1.2 Golng concern Al the lime of approving the accounts, the twsto8s have a reasonable expectation that tho th8rity h88 a(iequal8 resources to ntInue in operational existence for the foreseeable future. Thus the charity conts'nua8 10 adopt the going concem basis of aco)unling in preparing the arxounts. 1.3 Charltabl• fund• Unrestricted funds are availablé for use 81 th8 di8"0n of th8 trustèés In fvrtheranc4 of their charhablè objectives unk8ss tha furbds have been deslgn8tsd foroth6r purp08es. Restricted funds are subjett to speofic eorKlilions by don¢ys as lo how they may be usa. The purposes and Uses of the resfficted fvnds are set out in Ihe Th)tes to the aro)unb. 1.4 Incomlng resources Income is re¢ogni5ed when tha charity is legalty enlrlled lo il aftèr any perforn1anr condltlons have been mel. In8 amounts can be measured reliably. and It Is probable that Inuyne 11 be recdved. 1.5 Resources •xp•ndèd Liabilitios are rec£)gnised as expenditure as 88 Ihere is 8 legal or c4JnstnJ¢tive olaon Lxjmmitting the charity lo that expenditure. It is prob8ble that the transfer of ecA)nomic benefrts will be required in settlement and the amount of the obligation can be measured reliably. Expendilure is ar£ounled for on an accruals b8S18 and has been Classifd under headings that aggwale 811 ctjsls related to the category. Where ¢osls cannot be diredy 8ttribul8d lo particajlar headings they have been 8llc¢8te(J to actrwtses on a basis cx)nsislenl wth the use of the resources. Grar offered subject to CA)nditions whtch have not been met at the year end date are noted as commltment but not accrued as expendlture. 1.6 Tanglblo flxod assets Tangible fixed assets are induded at replacement cost. There ale no uncapitalised fixed assets. Th8 Board of Trustees consKler their v81ue to be staled at replacement wth no impairment. The gain or lo arising on the disposal of 8n 8SS81 is detem)ined as the differ8nea between the sale proceeds and the carrylng value of the asset. and is recognised in nel in¢)ynel{expenditurel for the year. 17-
RAINY DAY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 A¢countlng poli¢188 Icontlnuedl 1.7 Investment properti Investment propety is staled al fair value whith isnl u)nsKlered lo be materially different to its wsl 8131 Dember 2021. 1.8 cash and cash equivalents Cash and cash equivalents indude c88h in hand, dewsits hekl al call with banks. other short-terni IUld investments wllh orfginal maturith'es of three monlhs or Is. and bank overdrafts. Bank overdrafts are shown within borrowngs in current liabilitias. 1.9 Employee beneflts The cost of any unused hollday entilknmenl is rwnised in the period in which the employee's services are r8CgiVgd. 1.10 Retlrement benellts Payments to defined contribub'on rebrement benefft sc8mes are tharged as an expense as they f811 due. 1.11 Con$Olldat Ilnan¢lal stst•m•nts Consolidated financial slalemenls have nol b88n prepared as tha exernptn for small groups under th8 Ch8rities Act 20118nd the Charilw SORP (FRS 1021 has been tsken. Crftl¢al ac¢ountlng •sllm•t•• •nd ludgem•nts The preparation of fin8nci81 st8t8m8nts requires the use of cÈrtaln eritul aceounllng eslimale8. It Blso requires managoment to exercise it$ judgement in the wocss of 8pplying the company 8eLounling pollcl8s. The areas involving 8 higher degree of judgement or o)mplèxity. or areas where assumptions and esUmate8 are signlflc8nl to the financ181 slaiements, are disdosed wthin Ihg iTrJividual aOUnting policios. Don•tl¢n$ and l•ga¢l8$ 2022 2021 Don8tK)ns Subscripllons 141,412 82,976 148,885 76,279 Investhionts Totsl 2021 Total 2020 Rental income Irwestmenl income 2,145 22.644 24,356 24,789 24,962 18-
RAINY DAY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Charitsble activities 2021 2020 Charitabl8 events 37.799 39.271 Ralslng donatlons and1•9•cI•8 Total 2021 Totsl 2020 Fundr8I8ing 8venl costs 1.507 2,889 3,951 3,960 5,458 6,849 Charftsbla actlvltl•8 2021 2021 Stsff eosls Connect Assist Marketing Volunteer èxpenses and tablo18 Welfare benefits checker Grants payab 76,887 26,027 6.805 834 1.200 164.227 68,540 19,177 1,368 799 1,2 138,497 275,980 229,581 Share of support costs (see note 8) Share of governan costs (see note 81 71.888 6.588 62,953 3,0(K) 354.456 295,534 19-
RAINY DAY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Support costs Support Gowmance costs costs 2022 2021 Wages Social securtty costs Insur8nc8 CEO expenses Secretarial expensès Postage and stabonery Web l intsmet Bank charges Rent, rates and utllil Audit fees Legal and prof6ssK)nal 36.439 2.452 1.550 2,467 19.9)4 3.477 36.439 2,452 1,550 2.467 19.904 3,477 799 f77 4,623 3,0 34,510 2,232 1,549 931 14,951 1.833 840 114 5,991 3,000 177 4.623 3,588 71,888 6.S88 78,476 65.951 Analysed between Charitable actlvblles 71,888 78.476 65,951 71,888 78.476 65,951 Employ8 Th6 average monthly numkr of p8rsons {indLKling dlrectorsl employad by the company during the year wa8: 2022 Number 2021 Number Thelr aggregate r8muner8tlon compri88d'. 2022 2021 Wages and salaries Social security costs Pension costs 96,154 6,143 13,481 93,055 6,389 5.838 115,778 105,282
RAINY DAY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 10 Trust•os remuneratlon and nefft$ Th8re was no trustees remuneration for the year ended 31 Dember 2022. Trustees Expensos There were no trust88 axpenses during lh8 year. 11 Not galnsl{lossesl on Invostmonts Total 2022 Total 2021 Realised gains I Ilossesl on investments Unrealised gains I (losses) on investments 11,509 (112,0241 72.858 15.580 11¢XI,515) 88,438 12 fanglbla flxod a880ts G•tf trophl•• Colt Al 1 January 2022 62,830 Al 310ecembar 2022 62,830 Canylng amount Al 31 December 2022 62,830 At 31 December 2021 62,830 13 Investmènt propety 2022 Falr value Al 1 January 2022 and 31 December 2022 352,313 In Ihe opinion of the trustees the fair value of the properly al 31 Dernber 2022 is not considerad lo be materially different to il's cost pri so the investrn8nt property will Lx)ntsnue to be G4rried ftyward 81 cost. 21
RAINY DAY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 14 Debtor¥ 2022 2021 Amounts falllng due wlthln on• yoar. Prepayments and accrued income 51,602 45,510 15 Credltors: amounts falllng due wlthln one year 2022 2021 Notes Borrowings Other taxatlon 8fKI 80¢1al 8aCUTrty Olh6T payabl8s Accruals and deferred incom8 2,788 1,322 7,457 497 4,922 14.203 5,419 -22-