ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022
THE RAYNER FOUNDATION
(Charitable Incorporated Organisation)
CHARITY REGISTRATION No: 1185306
Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
THE RAYNER FOUNDATION
(Charitable Incorporated Organisation)
CONTENTS
| Page 3 | Legal and Administrative Information |
|---|---|
| Page 4 | Trustees' Report |
| Page 5 | Statement of Financial Activities |
| Page 6 | Balance Sheet |
| Pages 7 to 13 | Notes to the Financial Statements |
| Page 14 | Independent Examiner's Report |
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THE RAYNER FOUNDATION
(Charitable Incorporated Organisation)
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER
CHARITY NUMBER 1185306 DATE OF REGISTRATION 13th September 2019 START OF FINANCIAL YEAR 1st January 2022 END OF FINANCIAL YEAR 31st December 2022 TRUSTEES AT 31ST DECEMBER 2022 Keith Lambert Jonathan Clay Paul Cutler LEGAL STATUS Charitable Incorporated Organisation
GOVERNING INSTRUMENT
CIO - Foundation Registered 13th September 2019
OBJECTS
1 . To advance in life and help young people through: a ) The provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve their condition of life; b ) Providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals. c ) Advancing education. 2 . The promotion and advancement of amateur sports and healthy recreation through cycling
CORRESPONDENCE ADDRESS
CORRESPONDENCE ADDRESS 80 Leeds Road Liversedge West Yorkshire WF15 6HX PRIMARY BANKERS National Westminster Bank Plc 2 Northgate Dewsbury West Yorkshire WF13 1EA INDEPENDENT EXAMINERS Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
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THE RAYNER FOUNDATION
(Charitable Incorporated Organisation)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2022
| Notes INCOMING RESOURCES Incoming Resources from Generated Funds Donations, Grants & Legacies 3a Charitable Activities 3b Investment Income 3c TOTAL INCOMING RESOURCES RESOURCES EXPENDED Costs of Generating Funds Cost of Charitable Activities 4a Governance Costs 4b TOTAL RESOURCES EXPENDED NET INCOMING (OUTGOING) RESOURCES Funds Brought Forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2022 2021 £ £ £ £ 28,753 - 28,753 17,648 - 20,669 20,669 16,534 - - - - 28,753 20,669 49,422 34,182 45,169 20,809 65,978 82,301 1,565 - 1,565 650 46,734 20,809 67,543 82,951 (17,981) (139) (18,120) (48,769) 291,760 18,445 310,205 358,974 273,779 18,306 292,085 310,205 |
|---|---|
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 7 to 13 form part of these financial statements.
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THE RAYNER FOUNDATION BALANCE SHEFr AS AT 31ST DEGEMBER 201Z 7•t•l 31-1)•trX 9l-D•tr21 Flx•d AM•ts TJr¥Jltlp ABX Ih¥eJtrrnnts T•ll Flxd Calh ai Bank In T•tal CuTh•ntA•••l• 274529 27452• 18, 2.•J8 2nT 18 31020S J10,109 1• crn ar NET A88ET8 2n77• 0306 Fund••lth• Ch•rlty General F 2T4T19 2n,779 18.6 291.760 18.44) 14>X Tow Pund• 11,306 310.205 li Prtn11 Nwn
THE RAYNER FOUNDATION
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022
1. ACCOUNTING POLICIES
Basis of Preparation & Assessment of Going Concern
Basis of Preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
Incoming Resources
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when:
▪ the charity becomes entitled to the resources;
▪ the trustees are virtually certain they will receive the resources; and
▪ the monetary value can be measured with sufficient reliability
Incoming Resources with Related Expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
Grants and Donations
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Tax Reclaims on Donations and Gifts
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
Contractual Income and Performance Related Grants
This is only included in the SOFA once the related goods or services has been delivered.
Gifts in Kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
Donated Services and Facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
Volunteer Help
The value of any voluntary help received is not included in the accounts.
Investment Income
This is included in the accounts when receivable.
Investment Gains and Losses
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
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THE RAYNER FOUNDATION
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
1. ACCOUNTING POLICIES (continued)
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance Costs
Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
Grants Payable without Performance Conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
Investments
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
Unrestricted funds
These funds can be used for the general objectives of the charity as set out in the trustees report. The movements of the unrestricted funds are given in the Statement of Financial Activities.
Restricted funds
These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of appeals for special offerings for specific purposes.
Designated funds
These funds are funds set aside by the trustees out of unrestricted general funds for particular purposes or projects.
Fixed Assets
Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation Expense
Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows:
Fixtures, Fittings and Equipment
25% - Reducing Balance Basis
2. TANGIBLE FIXED ASSETS
The CIO held no fixed assets during this or the previous financial period.
The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st December 2022 : None
31st December 2021 : None
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THE RAYNER FOUNDATION
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
3. INCOMING RESOURCES
Unrestricted Restricted TOTAL TOTAL Funds Funds 2022 2021 £ £ £ £ a) Donations, Grants & Legacies Gifts & Donations 28,753 - 28,753 17,648 28,753 - 28,753 17,648 b) Charitable Activities E-Tape' Ride - 10,735 10,735 16,534 Annual Dinner - 9,934 9,934 - 20,669 20,669 16,534 c) Investment Income Interest - - - - -
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THE RAYNER FOUNDATION
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
4. RESOURCES EXPENDED
| a) Cost of Charitable Activities Annual Dinner Bank Charges E-Tape' Ride Gateway' Ride Gifts & Donations Meeting Costs Motor Vehicle Costs Rider Costs Rider Liaison Sundry Expenses |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2022 2021 £ £ £ £ - 5,420 5,420 - 171 - 171 146 - 15,389 15,389 16,646 13,140 - 13,140 - 500 - 500 5,700 114 - 114 75 2,184 - 2,184 1,007 21,769 - 21,769 49,400 7,200 - 7,200 9,038 91 - 91 289 45,169 20,809 65,978 82,301 |
|---|---|
| ` b) Governance Costs Independent Examiners Fees 9 Legal & Professional Fees |
750 - 750 650 815 - 815 - 1,565 - 1,565 650 |
|---|---|
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THE RAYNER FOUNDATION
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
5. RESTRICTED FUNDS
CURRENT FINANCIAL PERIOD
| E-Tape' Ride Annual Dinner PREVIOUS FINANCIAL PERIOD E-Tape' Ride Annual Dinner |
Balance Balance 01-Jan-22 Income Expenditure Transfers 31-Dec-22 £ £ £ £ £ 13,920 10,735 15,389 - 9,266 4,525 9,934 5,420 - 9,039 18,445 20,669 20,809 - 18,306 Balance Balance 01-Jan-21 Income Expenditure Transfers 31-Dec-21 £ £ £ £ £ 14,032 16,534 16,646 - 13,920 4,525 - - - 4,525 18,557 16,534 16,646 - 18,445 |
|---|---|
Restricted funds are wholly represented by the charity's cash reserves and are to be expended as specified above.
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THE RAYNER FOUNDATION
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
6. INVESTMENTS
The CIO held no fixed assets investments during this or the previous financial period.
7. CASH AT BANK AND IN HAND
| Unrestricted | Restricted | Total Total |
|
|---|---|---|---|
| Fund | Fund | 31-Dec-22 31-Dec-21 |
|
| £ | £ | £ £ |
|
| Cash at Bank & in Hand | 274,529 | 18,306 292,835 310,855 |
|
| 274,529 | 18,306 292,835 310,855 |
||
| 8. DEBTORS AND PREPAYMENTS Sundry Debtors |
Unrestricted Fund £ - |
Restricted Fund £ |
Total Total 31-Dec-22 31-Dec-21 £ £ - - - |
| - | - - - |
||
| 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Independent Examiners Fees |
Unrestricted Fund £ 750 |
Restricted Fund £ |
Total Total 31-Dec-22 31-Dec-21 £ £ - 750 650 |
| 750 | - 750 650 |
10. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
The CIO held no long term liabilities during this or the previous financial period.
11. NET ASSETS BETWEEN FUNDS
| Fixed Asset Investments Net Current Assets Long Term Liabilities |
Unrestricted Restricted Total Total Funds Funds 31-Dec-22 31-Dec-21 £ £ £ £ - - - - 273,779 18,306 292,085 310,205 - - - - 273,779 18,306 292,085 310,205 |
|---|---|
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THE RAYNER FOUNDATION
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
12. STAFF COSTS AND NUMBERS
The Charity employed no members of staff during this or the previous financial period.
13. TRUSTEES AND OTHER RELATED PARTIES
No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them.
14. RISK ASSESSMENT
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
15. RESERVES POLICY
The Trustees have considered the level of reserves they wish to retain, appropriate to the CIO's needs. This is based on the CIO's size and the level of financial commitments held. The Trustees aim to ensure the CIO will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.
16. PUBLIC BENEFIT
The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the CIO has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the CIO should undertake.
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THE RAYNER FOUNDATION Charitahlp Irwrpwated Organisationl INDEPENDENT LXAMINER'S REPORT ON THE ACCOUNTS Rep)rt to the truste rnembers of The Rayw FouThJatK>n on the &xxNJnts fLY the year ejed 3151 09ber 2022 Set out on psgo¥ 5 to 13. R•specllvo re¥pon¥bllfjtfj•4 of truth•s antl examlThAr Tho ¢harity'G Iru6t6 ar¢ rcopgnjibk for thc prcpwbtth of th¢ aG¢ounls. The thaTty'¥ tiuot8¢5 Gonoider that ai) audil is iivl rlAIrd fr)r thi% ypAr iJnApr wtim 144 ol th Charities Act 2011 (th• Chgrits•s Act) and that an ind•p•ndant oxsmination IB Jed. It Is my tssrA)nsrbility to.. examlne the a¢counts under seaion 145 of tne Lhanties ACL follow the procedures le th)wn in th¢ general Directi5 9N¢n by the Chatlly c111[11¥1[1 Iui)Ll¥r w¥liuri 14515llhl of the Choliti•y Acl. 8nd sle whthner panJcuLgr matters Mve C to my atten Ba8 of InO•p•nd•nt •x•rnln•Ys stst•mw¢ My examinatj'on w06 caryiod out in accordanca with 9ener•l Directions gN¢n by thts Charsty Ctynmissh)n. An gxaniii)&lioi) Inr.liJrtA% 8 fAvlftw nf thp arrniinllno r•Mrrt4 kept by th• chadty and # ¢ornpari$on of th• aecounts prg$•ntod wllh th060 rvuurds. It also Iue5 conslderation olanv unusual lery or disdosures In the accounts. and seeking explanations from IhA trustoo$ concorning any Such motlsYJ. The pr(udure$ undtrtJken th nol provid8 811 tho ¥vKl¥riL¥ IIYdl ¥vuul¢J Iwuir¥d In an #ijdit. and consequentty no OF4nion is gwen as to thher the plnI a 'true and lair. viow ond tho roport 16 IimKeo to IM$& matters 881 ¢yJi kn the Stater OelfN. Indopondont oxtsmSn•¢# l•m•nI In Mnnt¢tKtin 1th my oxarninalion. matter liwj 6Y)trKy Iv rny 8tlentbyt.' whw.h oiv•g m• ro#sonable Caus• lo bdi•v• th¥1 In any mat•rial r•sp•ct. th• rUlT0t. to keep UntIj recor(Js In xcordanee wth secbon 1JO of the Lharities Act.. and lo prpare accounts which occord b%ith tho aco)uniing records and ¢omply bTrilh the Countia requlrornents ofthe Chartt8 Acl h•v• not bggn mgL" or to whi¢h. in my opinlon. attenlion be In ord¥ lo emble a Fffoper und•rntsndlng of the aGcounts to be rgach8d. K. Colloku MAAT Castl8 View AcC(mJntif I Id New Barn Mudb8rry Lano B05harn Chichester West Sussex P018 8TS Date". 14t Juty 2023 14