The Recovery Advocates and Consultants UK Trustee Report and Accounts
07/08/2022 to 06/08/2023
Contents
Page 1 - 2 Trustee Report Page 3 Statement of financial activities Page 4 Balance Sheet Notes
Trustee Statement Charity Name: TRAC UK Charity Number:1184801
Report for the Year Ended: 6[th] August 2023
As trustees of TRAC UK, we are pleased to present our annual report and financial statements for the year ended 6[th] August 2023. This report outlines our activities, achievements, and financial performance during the past year.
Objectives and Activities
The primary objective of TRAC UK is to promote Visible Recovery and Peer to Peer Support. Our work focuses on reducing Stigma, ABCD Asset Based Community Development, building recovery communities and promoting choice.
Achievements and Performance
During the past year, TRAC UK has made significant strides in fulfilling its mission. Key achievements include: 1. Awarded the Charity Voluntary Award at The Tees Business Awards, celebrating our commitment to making a positive impact in the community. 2. Recognized by the Local Community for the significant difference we are making, highlighting our ongoing dedication to local causes. 3. Successfully Supported Two Clients into full-time employment, where they are now thriving, demonstrating the effectiveness of our programs. 4. Produced and Showcased an Original Song and Video for International Women’s Day, which was widely shared across our social media platforms, amplifying our message of empowerment. We have 4500 beneficiaries, plus an additional 4707 in our women only Advocates group and engaged with 2 volunteers, significantly expanding our outreach and impact.
Financial Review
The financial health of TRAC UK remains robust. Our income for the year was £16697, primarily derived from the National Lottery Community Fund. Expenditures totalled £14776, with funds allocated towards administrative expenses. Our financial management practices ensure that resources are utilized efficiently and effectively to maximize impact. We maintain reserves of £4462 (2022: £2541) which provide financial stability and the ability to respond to unforeseen challenges.
Governance and Structure
The Board of Trustees is committed to maintaining high standards of governance. We have met quarterly this year to review progress, ensure compliance with legal and regulatory requirements, and plan for the future. We have also conducted regular trustee meetings to ensure they are kept informed of upcoming plans and developments.
Future Plans
Looking ahead, TRAC UK is committed to offering intensive face-to-face support to individuals as they take their first steps towards recovery. We will work closely with local initiatives to connect our members with appropriate residential recovery programs, ensuring they have access to the resources and guidance needed for a successful recovery journey. By focusing on sustainability and collaboration, we aim to create robust support networks that help individuals achieve long-term recovery, and continue to thrive within their communities.
Appreciation
We extend our heartfelt thanks to our donors, volunteers, staff, and partners. Your unwavering support and dedication are the driving forces behind our achievements. Together, we are making a lasting difference in the lives of those we serve.
Conclusion
As trustees, we are proud of the progress made by TRAC UK this year. We remain committed to our mission and are determined to build on our successes. Thank you for your continued trust and support.
Signed on behalf of the Board of Trustees:
Name: Annalice Argyle
Position: Chair
Date: 18/11/2024
| Restricted funds Unrestricted funds 2023 2023 £ £ Income Donations 0 2937 2041 Grant Funding 13760 14000 Total income 16041 Expenditure Charitable expenditure 13200 Funds Carried Forwards |
Total Funds 2022 2023 £ £ 2937 0 13760 16697 14776 1921 3041 |
|---|---|
| Fixed Assets Tangible Investments Current Assets Cash at Bank Creditors Creditors Amount falling in 1 year Net Current assets Total assets less total liabilities Total available funds |
YE 2023 YE 2022 £ £ 0 0 0 0 4462 3041 0 500 4462 2541 4462 2541 4462 2541 |
|---|---|
Notes to the Accounts
1.1 Accounting convention - The accounts have been prepared in accordance with the charity's Constitution, 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)" (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. 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 F. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. 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 unless the funds have been designated for other purposes.
1.4 Incoming resources - 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 GIR 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, Resources expended - Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost relating to that 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.
1.6 Tangible fixed assets - Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Leasehold property Over the life of the lease The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
1.7 Fixed asset investments - Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities. Impairment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 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.
1.9 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
| 3 Charitable Income | ||
|---|---|---|
| 2023 | 2022 | |
| National lottery | £3890 | £3000 |
Main Grant £9870 £0