REGISTERED CHARITY NUMBER: 1172166
THE RAINDANCE CHARITABLE TRUST
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2022
Prepared by: Thrings LLP 2 Queen Square Bath BA1 2HQ
The Raindance Charitable Trust
Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2022
| Page | |
|---|---|
| Report of the Trustees | 1-2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6-9 |
The Raindance Charitable Trust
Report of the Trustees for the year ended 31 December 2022
The Trustees present their report with the financial statements of the charity for the year ended 31st December 2022. The Trustees have adopted the provisions of 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
Objectives and aims
The Trustees shall hold the capital and income of the Trust Fund upon trust to apply the income, and all or such parts of the capital, at such time or times and in such a manner to, or for the benefit of, such exclusively charitable organisations, objects and purposes in any part of the world as the Trustees may in their discretion think.
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities and setting grant making policy for the year.
ACHIEVEMENT AND PERFORMANCE
Charitable Activities
During the year, the Settlor has transferred funds to the Trustees who have deposited them in the Trust's bank account. The Trustees had a meeting during the accounting period to consider the application of the income and capital to charitable activities.
FINANCIAL REVIEW
Principal funding sources
The principal funding source of the Trust is from donations, which amounted to £60,000 and reclaims of Gift Aid of £15,000 in 2022 (2021, £80,000 and £20,000 respectively). Charitable expenditure of £92,316 was incurred in this year (2021 £92,190).
Reserves policy
The Trustees do not have a reserve policy as the Trust Deed provides for the distribution of income and capital as deemed appropriate.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust dated 16th December 2016, and constitutes an unincorporated charity.
Charity constitution
The Trustees may appoint a new trustee at any time, either by way of replacement or addition, and not withstanding that the total number of trustees may exceed four.
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The Raindance Charitable Trust
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1172166
Principal address
2 Queen Square Bath BA1 2HQ
Trustees
AFJ Watson (Chairman) RD Watson AC Watson AK Watson AMS Young (retired 31st March 2022)
Independent Examiner
Andrew Jordan FCA Haines Watts Chartered Accountants Bath House 6-8 Bath Street Bristol BS1 6HL
27 October Approved by the trustees on…………………………………………... 2023 and signed on their behalf by:
……………………………………………………………………………
AFJ Watson
on behalf of the Trustees
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The Raindance Charitable Trust
Independent Examiner's Report to the Trustees of The Raindance Charitable Trust
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2022 which are set out on pages 4 to 9.
Responsibilities and basis of report
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- accounting records were not kept in respect of the charity as required by section 130 of the Act;
or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
27 October ………………………………………………………………. Dated ….............................2023
Andrew Jordan FCA ICAEW Haines Watts, Chartered Accountants Bath House 6-8 Bath Street Bristol BS1 6HL
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The Raindance Charitable Trust
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2022
| Note Income and endowments from: Donations and legacies 2 Total income and endowments Expenditure on: Charitable activities Grant funding 3 Total expenditure Net Income and net movements in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Total Total 2022 2021 £ £ Unrestricted Unrestricted Funds Funds 75,000 100,000 |
|---|---|
| 75,000 100,000 92,316 92,190 |
|
| 92,316 92,190 |
|
| (17,316) 7,810 25,030 17,220 |
|
| 7,714 25,030 |
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The Raindance Charitable Trust
BALANCE SHEET AT 31ST DECEMBER 2022
| BALANCE SHEET AT 31ST DECEMBER 2022 | |||
|---|---|---|---|
| Note Current Assets Cash at bank Current Liabilities Amounts falling due within one year 7 Net Current Assets Total Assets less Current Liabilties Net assets Funds Unrestricted funds Total Charity funds Approved by AFJ Watson on behalf of the Trustees: ………………………….. Date AFJ Watson Trustee |
2022 £ Unrestricted Funds 9,430 |
2021 £ Unrestricted Funds 29,320 |
|
| 9,430 1,716 |
29,320 4,290 |
||
| 7,714 | 25,030 | ||
| 7,714 7,714 7,714 |
25,030 25,030 25,030 |
||
| 7,714 ………………..… 27 October |
25,030 ……. 2023 |
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The Raindance Charitable Trust
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 DECEMBER 2022
1 ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The financial statements have been prepared to give a 'true and fair' view and 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 Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective from 1 January 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2015 which has since been withdrawn.
The financial statements are prepared in sterling which is the functional currency of the charity and are rounded to the nearest £.
The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties about the charity’s ability to continue as a going concern.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Donations and gifts are credited on a reciepts basis. Gift Aid relief on eligible donations is accounted for on an accruals basis.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end are noted as a commitment but not accrued anywhere as expenditure.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Taxation
The charity is exempt from tax on its charitable activities.
Debtors and creditors
Debtors and creditors are measured at settlement value.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objects at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Financial Instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Short term liquid investments and cash
Cash at bank is held to meet short-term cash commitments as they fall due rather than for investment purposes and includes all cash equivalents held in the form of short-term highly liquid investments. Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.
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The Raindance Charitable Trust
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 DECEMBER 2022
| 2 Donations and Legacies Donations Gift Aid claimed 3 Charitable Activities Costs Grant funding of activities Support costs 4 Grants payable Analysis of grants to institutions: Number of grants paid Big Life Foundation 1 Chase Africa 1 Health Prom 1 Microloan Foundation 1 Saving the Survivors 1 Serendip Children's Home 1 The David Sheldrick Wildlife Trust 1 Singing Gorilla 1 We Care Worldwide 1 Refugee Action 1 Refugee Council 1 The Basement Bristol Children's Help Society 1 Caring in Bristol 1 Forward |
2022 £ 60,000 15,000 |
2022 £ 60,000 15,000 |
2021 £ 80,000 20,000 |
2021 £ 80,000 20,000 |
|
|---|---|---|---|---|---|
| 75,000 2022 £ 90,000 2,316 |
100,000 2021 £ 90,000 2,190 |
||||
| 92,316 2022 Total paid 5,000 5,000 5,000 5,000 5,000 5,000 3,000 10,000 10,000 3,000 3,000 - 2,000 6,000 |
92,190 2021 Total paid 3,000 5,000 5,000 5,000 5,000 5,000 5,000 10,000 10,000 3,000 3,000 5,000 2,000 6,000 |
||||
| 67,000 | 72,000 |
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The Raindance Charitable Trust
4 Grants payable (contd)
| Grants payable (contd) | |
|---|---|
| Forward The Children's Society 1 SWA 1 St Mungo's, Bristol Homeless 1 West Berkshire Homeless 1 The Whitechapel Centre 1 |
67,000 72,000 3,000 2,000 3,000 3,000 5,000 5,000 5,000 3,000 7,000 5,000 |
| 90,000 90,000 |
| 5 Support Costs Professional fees relating to the administration of the trust of:- Professional fees relating to the Independent Examination of the trust of:- Professional fees relating to the Independent Examination of the trust of:- (actual fees £45 greater than provision made in previous years accs) |
2022 £ 1,272 - 1,044 |
2021 £ 1,200 45 945 |
|
|---|---|---|---|
| 2,316 | 2,190 |
6 Trustees' remuneration and benefits
There were no trustees' remunerations or other benefits for the year ended 31 December 2022 nor for the period ended 31st December 2021.
There were also no trustees' expenses paid for the year ended 31 December 2022 nor for the period ended 31st December 2021.
7 Creditors: Amounts falling due within one year
| Creditors: Amounts falling due within one year | |
|---|---|
| Accounting and Secretarial fees Independent Examiners' fees |
2022 2021 £ £ 672 2,400 1,044 1,890 |
| 1,716 4,290 |
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The Raindance Charitable Trust
| 8 Movement in Funds Unrestricted funds General fund Net movement in funds, included in the above are as follows: Unrestricted funds General fund 9 Comparative year - Movement in Funds Unrestricted funds General fund Net movement in funds, included in the above are as follows: Unrestricted funds General fund |
Net movement At 1.1.22 in funds At 31.12.22 £ £ £ 25,030 (17,316) 7,714 Incoming Resources Movement in resources expended funds £ £ £ 75,000 (92,316) (17,316) Net movement At 1.1.21 in funds At 31.12.21 £ £ 17,220 7,810 25,030 Incoming Resources Movement in resources expended funds £ £ £ 100,000 (92,190) 7,810 |
|---|---|
10 Related Party Disclosures
During the period aggregate donations of £60,000 (£80,000 in 2021) were received from the trustees plus £15,000 of Gift Aid (£20,000 in 2021).
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