Berkhamsted Rotary Trust Fund CIO Annual Report and Accounts 2024 BERKHAMSTED ROTARY TRUST FUND CIO Report and Accounts for the year ended 30 June 2024 Registered charity number 1182564
Berkhamsted Rotary Trust Fund CIO Annual Report and Accounts 2024 BERKHAMSTED ROTARY TRUST FUND CIO Report and Accounts for the year ended 30 June 2024 Contents Page Legal and Administrative Information Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Balance Sheet 10 Statement of Cash Flows 11 Notes to the Accounts 12
Berkhamsted Rotary Trust Fund CIO Annual Report and Accounts 2024 BERKHAMSTED ROTARY TRUST FUND CIO Legal and Administrative Information Status Berkhamsted Rotary Trust Fund CIO (the "Charity.) is a Charitable Incorporated Organisation governed by its constitution dated 26 March 2019. It was entered on the Register of Charities on 20 March 2019 under number 1182564. The Charity began operating on 1 July 2019 on which date it assumed the assets and outstanding liabilities of the Rotary Club of Berkhamsted Bulbourne Trust Fund (registered number 298227) which was dissolved on 30 June 2021. Address Berkhamsted Town Hall, 196 High Street, Berkhamsted, Herts HP4 3AP Trustees The following served as Trustees throughout the year: Geoffrey David Budd (Chairman) Stephen David Allen lan Robert Briscoe Simon Philip Cattle John Ronald Simpson Graham Roy Taylor Simon Cattle resigned as a trustee on 30 June 2024. On the same date John Howard Whiteley was appointed a trustee ex officio on becoming treasurer of the Rotary Club of Berkhamsted Bulbourne. Independent Examiner Chris Garner-smith, 67 Kings Road, Berkhamsted HP4 3BP Bankers Natwest Bank plc
Berkhamsted Rotary Trust Fund CIO Annual Report and Accounts 2024 Report of the Trustees for the year ended 30 June 2024 The Trustees present their report and the accounts of the Charity for the year ended 30 June 2024. Structure, Governance and Management The Charity's affairs are managed by its Trustees of which there are currently six. Their names are shown on page 3. Two of the Trustees serve as the Charity's Treasurer (John Whiteley) and Secretary (Graham Taylor). The manner of appointment of Trustees, their terms of office and the procedures for retirement and removal from office are set out in the Charity's constitution. Membership of the Charity is open to members of the Rotary Club of Berkhamsted Bulbourne. The Trustees may refuse an application for membership. The Charity does not have any employees. In pursuing its objectives, it receives substantial voluntary support from its members and from third parties. Prior to their appointment Trustees are made aware of the Charity Commission's Information for new Trustees, are trained to understand their legal duties and obligations as Trustees, and certify their eligibility and suitability to act as such. The Trustees have considered and keep under review the principal risks to which the Charity is exposed and have established procedures to manage and mitigate them. They have adopted the policies of Rotary in Great Britain and Ireland in relation to: The General Data Protection Regulation governing privacy; Equality and Diversity; Health and Safety. Privacy; and Safeguarding. Objects and Activities The Charity's principal objects as set out in its constitution are the relief of the poor and needy in Berkhamsted, the surrounding area, any part of the United Kingdom or elsewhere in the world. It may pursue such other charitable purposes as defined by law as its members may direct. Friends of Berkhamsted Rotary In accordance with clause 9(6) of the Charity's constitution the Trustees have created this class of membership for individuals who are not members of Rotary but who share its aims and ethos and who wish to help from time to time in pursuit of its objectives.
Berkhamsted Rotary Trust Fund CIO Annual Report and Accounts 2024 Achievements, Performance and Significant Events To enable it to meet its objectives the Charity raises funds from various sources. These are primarily: donations from its members and third parties and associated Gift Aid. fund-raising events. and sponsorship of fund-raising events. The following paragraphs summarise the principal fundraising activities undertaken during the year. The traditional Berkhamsted community fireworks party again attracted a large attendance and generated a surplus of almost £12,419 (2023: £19,200). This was lower than the previous year due in part to increased costs and fewer attendees. The annual Berkhamsted Half Marathon and the associated five-mile Fun Run, now in their 41 st year, attracted over1,600 registrations of whom 1,436 (Half Marathon 951; Fun Run 485) entered and completed the events. They prodUd a surplus of almost £25,000. Substantial further funds were raised by participants on behalf of numerous local community organisations. Planning and managing these events presents a considerable challenge and the Trustees acknowledge the significant contribution made by Rotarians and other groups to their success. Santa's Sleigh, a collaborative effort with a number of other local charities, raised over £15,000 (including Gift Aid) which was shared amongst the 19 participating charities. The annual golf day in support of Rennie Grove Hospice Care produced a surplus of £3,735. Further information about these activities is set out in the Statement of Financial Activities on page 9. The Charity again supported a full range of Rotary-sponsored and student-focussed events including Young Chef, the Technology Tournament, Youth Speaks and Kids Out - a visit to Whipsnade Zoo for seriously disabled children. The Young Photographer competition, in its third year, was again very successful, with a number of entrants progressing to and achieving success in the Rotary and National competitions. Young Artist was supported by 22 schools across Dacorum. The work of over 600 students featured in an exhibition at Ashlyns School, culminating in an exhibition of winning entries at the Open Door charity in Berkhamsted. The Charity maintained its support for the Dacorum Musical Instrument Library, which has operated successfully for a number of years in schools in Hemel Hempstead and has now extended its facilities to Berkhamsted. Unwanted instruments continue to be collected from local residents to supplement the library's stock. Towards the end of the year the Charity organised a trip on the Grand Union Canal for local senior citizens.
Berkhamsted Rotary Trust Fund CIO Annual Report and Accounts 2024 The Trustees continued their support for the Rotary shoebox scheme which invites local schoolchildren to fill shoeboxes with toiletries and children's toys for distribution to Eastern European countries. Following the success of the humanitarian disaster relief briefing day held in the previous year, a similar event was held for Year 12 students from Ashlyns and Berkhamsted Schools. Participants were able to hear at first hand the experiences of representatives from various organisations from the humanitarian sector including Save the Children, UNICEF, Herts Welcomes Refugees, ShelterBox and the Foreign and the Commonwealth Development Office. As well as raising awareness of the widespread problems that beset the world from climate change and natural phenomena, it is hoped that the wide range of skills necessary to address them will suggest career opportunities to the attendees. The Charity has continued its long-standing support for Tools for Self-Reliance and Work Aid, arranging collections from the public of redundant tools for refurbishment by these two charities and their redeployment overseas to assist the development of skills and businesses in local communities. Two Civic Awards were made during the year, one senior and one junior, to local people in recognition of their outstanding service to the community. The Charity again provided marshals for the town's Festival of Lights. Financial Review Total income of the Charity for the year was £113,093 (2023: £118,270). Expenses incurred in connection with the activities amounted to £53,782 (2023: £66,332) resulting in a surplus for the year of £59,311 (2023: £51,938). The Trustees made donations totalling £65,527 (2023: £49,124), of which 80 % related to UK charities and community organisations (principally in Berkhamsted and the local area) and 20% to overseas charities. Donations were shared amongst almost 60 beneficiaries representing a wide diversity of good causes and special needs with a particular emphasis on those dealing with education, community affairs, youth, disabilities, medical and age-related issues, disaster relief and third world development. The Charity's net assets at the end of the financial year amounted to £16,858 (2023: £23,074). The Trustees maintain a policy of holding reserves to cover potential losses on fund-raising events which are weather-dependent or which have to be cancelled or are adversely affected because of other factors. The Trustees have reviewed the amount of the reserve and decided to maintain it at £5,000. The accounts and accounting policies for the year are set out on pages 9 to14.
Berkhamsted Rotary Trust Fund CIO Annual Report and Accounts 2024 Statement of Trustees, Responsibilities The Trustees are responsible for preparing the Trustees, Report and the accounts in accordance with applicable law and United Kingdom Financial Reporting Standards. The law applicable to charities in England and Wales requires the Trustees to prepare accounts 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 period. In preparing these accounts, the Trustees are required: to select suitable accounting policies and then apply them consistently; to observe the methods and principles in the Charities Statement Of Recommended Practice. to make judgments and estimates that are reasonable and prudent; to state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts. and to prepare the accounts on a going concern basis unless it is inappropriate to presume that the Charity will continue in operation. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts Reports) Regulations 2008 and the Charity's constitution. 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. The Trustees are responsible for the maintenance and integrity of the Charity and for any financial information included on the Charity's website. Legislation in the United Kingdom governing the preparation and dissemination of accounts may differ from legislation in other jurisdictions. Approved by the Trustees on 10 September 2024 and signed on their behalf by: (3'D Budd .Chairman
Berkhamsted Rotary Trust Fund CIO Annual Report and Accounts 2024 Independent Examiner's Report To the Trustees of Berkhamsted Rotary Trust Fund CIO I report on the accounts of Berkhamsted Rotary Trust Fund CIO as prepared by the Trustees for the year ended 30 June 2024, consisting of the statement of financial activities, balance sheet, statement of cash flows and related notes 1 and 2 to the financial statements. Respective Responsibilities of Trustees and the Examiner The Trustees are responsible for the preparation of the accounts. The Trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to examine the accounts under section 145 of the Charities Act, to follow the prOdureS laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act and to state whether any particular matters have come to my attention. Basis of Independent Examiner's Report My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Berkhamsted Rotary Trust Fund CIO and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below. Independent Examiner's Statement In connection with my examination, no matter has come to my attention: which gives me reasonable cause to believe that, in any material respect, the general requirements to keep accounting records in accordance with section 130 of the Charities Act, and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities (Accounts and Reports) Regulations 2008 have not been met; or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Chris Garner-smith 10 September 2024
Berkhamsted Rotary Trust Fund CIO Annual Report and Accounts 2024 BERKHAMSTED ROTARY TRUST FUND CIO Statement of Financial Activities for the year ended 30 June 2024 2024 2024 2023 2023 Members, Activities and Administration Members, Gift-Aided donations Gift Aid thereon Other income Net administration expenses 3,062 774 1,260 649 2,378 630 2,552 (1,113) 4,447 Firework8 Event Entry fee & other sales net income Sponsorship & advertising income Set-up expenses 26,942 2.000 16,523 31,147 2,200 (14,147) 12,419 19,200 Concert Event Entry fee & other sales net income Set-up expenses 4,270 (5,282) (1,012) Half Marathon & Fun Run Entry fee income Sponsorship & advertising income Set-up expenses 41,360 11,179 27,618 35,253 14,159 33,505) 4• 24,921 15,907 Charity Golf Day Income Expenses 7,480 3,745 5,640 (3,176) i• 3,735 2,464 Santa's Sleigh Income Expenses 15,676 14,263 (543) 15.130 13,720 Service committees. activities Miscellaneous committee income Service activity expenses 3,199 4,702 5,725 (8,566 (1,503) (2,841) Surplus from operations 59,150 51,885 Interest income 161 53 Surplus for the year before donations 59,311 51,938 Donations made (65,527) (49,124) (Deficit)ISurplu8 for the year after donatlons 6,216 2,814
Berkhamsted Rotary Trust Fund CIO Annual Report and Accounts 2024 BERKHAMSTED ROTARY TRUST FUND CIO Balance Sheet at 30 June 2024 2024 2024 2023 2023 Current Assets Debtors Cash at bank- current account Cash at bank- savings account 2,622 10,517 5,199 1,450 18,136 5,038 18,338 24,624 Current Liabilltles Income received in advance Accruals (1,195) 285 1,550 (1,480) (1,550) Net Current Assets 23,074 Net Assets 16,858 23,074 Represented by: Reserves Balance brought forward {Deficit)/Surplus for the year 23,074 (6,216) 20,259 2,815 16,858 23,074 Approved by the Trustees on 10 September 2024 and signed on their behalf by John Whiteley Treasurer 10
Berkhamsted Rotary Trust Fund CIO Annual Report and Accounts 2024 BERKHAMSTED ROTARY TRUST FUND CIO Statement of Cash Flows for the year ended 30 June 2024 2024 2023 Net income for the period (Increase)Idecrease in debtors (Decrease)/increase in accruals Increase in income received in advance 59,150 (1,172) (1,265) 1,195 51,885 260 (3,361) (1,593) Cash flows from operations 57,908 47,191 Cash flows from investing activities Interest received 161 53 Cash flows from distributions Donations paid (65,527) (49,124) Net decrease in cash and cash equivalents (7,458) (1,879) Cash and cash equivalents at beginning of year 23,174 25,053 Cash and cash equivalents at end of year 15,716 23,174 11
Berkhamsted Rotary Trust Fund CIO Annual Report and Accounts 2024 BERKHAMSTED ROTARY TRUST FUND CIO Notes to the Accounts Accounting Policies Basis of preparation The Charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordan with 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) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and the Companies Act 2006. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. Financial Instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at the present value of future cash flows (amortised cost). Financial assets held at amortised cost comprise cash at bank and in hand and debtors excluding prepayments. Financial liabilities held at amortised cost comprise creditors excluding deferred income. Financial liabilities that are provisions are held at fair value. No discounting has been applied on the basis that the periods over which amounts will be settled are such that any discounting would be immaterial. Income All income is included in the statement of financial activities when the Charity is entitled to the funds and the amount can be measured with reasonable certainty. Income is deferred only when the Charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period. Voluntary income is received by way of grants, donations and gifts, including gift aid income where applicable, and is included in full in the statement of financial activities when receivable. Donated services and facilities are included at the value to the Charity where this can be quantified and is material. The value of ServIS provided by volunteers has not been included in these accounts. Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the Bank. 12
Berkhamsted Rotary Trust Fund CIO Annual Report and Accounts 2024 Expenditure Expenditure is recognised on an accruals basis as a liability as incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Operating leases and hire purchase agreements The Charity classifies the lease of property and printing and telecommunications equipment as operating leases; the title to the property and equipment remains with the lessor. Rental charges are charged on a straight-line basis over the tem of the lease. Taxation The Charity is recognised as a charity for tax purposes in line with Paragraph 1 of Schedule 6 Finance Act 2010. No provision for taxation has, therefore, been made in these accounts. Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity ofthree months or less from the date of acquisition or opening of the deposit or similar account. 1.10 Creditors and provisions Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 13
Berkhamsted Rotary Trust Fund CIO Annual Report and Accounts 2024 2. Net Income Other Total Net Sponsorship Income income Expenses income Year ended 30 Juna 2024 Members, Activities and Administration Fireworks Event Half Marathon & Fun Run Charity Golf Day Santa's Sleigh Service committees, activities Interest income 5,096 5,096 (648) 4,448 2.000 26,942 28,942 (16,523) 12,419 11,179 41,360 52,539 (27,618) 24,921 7,480 7.480 ' (3,745) 3,735 15,676 15,676 (546) 15,130 3,199 3,199 (4,702) (1,503) 161 161 161 13,179 99,914 113,093 53,782 59,311 Other Sponsorship income Total Net income Expenses income Year ended 30 June 2023 Members, Activities and Administration Fireworks Event Concert Event Half Marathon & Fun Run Charity Golf Day Santa's Sleigh servi comm ittees, activities Interest income 5,560 5,560 2,200 31,147 33,347 4,270 4,270 14,159 35,253 49,412 5,640 5,640 14,263 14,263 5,725 5,725 53 53 (1,113) 4,447 (14,147> 19,200 (5,282> (1,012) (33,505> 15,907 (3,176) 2,464 (543) 13,720 (8,566) (2,841) 53 16,359 101,911 118,270 (66,332) 51,938 14