ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023
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 1185306 DATE OF REGISTRATION 13th September 2019 START OF FINANCIAL YEAR 1st January 2023 END OF FINANCIAL YEAR 31st December 2023 TRUSTEES AT 31ST DECEMBER 2023 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 2023
| Notes INCOMING RESOURCES Incoming Resources from Generated Funds Donations, Grants & Legacies 3a Charitable Activities 3b Investment Income 3c Other Incoming Resources 3d 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 2023 2022 £ £ £ £ 145,219 - 145,219 28,753 - 21,838 21,838 20,669 - - - - 400 - 400 - 145,619 21,838 167,457 49,422 44,959 20,226 65,185 65,978 1,150 - 1,150 1,565 46,109 20,226 66,335 67,543 99,510 1,612 101,122 (18,120) 273,779 18,306 292,085 310,205 373,289 19,918 393,207 292,085 |
|---|---|
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 SHEET AS AT 31ST DECEMBER 20ZJ Totsl Totsl 31.Ilec.23 31.D•¢42 FuTrJs Fur¥Js TW1b1? As$8ts D8trtors & PrepayTherf5 374.189 374.189 19.918 19.918 394.107 394.107 2,935 292.835 Totsl Curr•rrtAM•ts 750 NEfcuFIREKf ASSErs 373289 19.918 373.289 19.918 39&207 29108$ 10 (ffie year NET ASSETS 3n289 19.918 395.207 291085 FLwtholthe Clwky 373289 19.918 273.rn 18X 19.918 Tatsl F)d 373.289 19.910 393,207 SvJnl thr iYlYbyTwstoe.....................
THE RAYNER FOUNDATION
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023
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 note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2015) (Second Edition, effective 1st January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (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 2023
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 2023 : None
31st December 2022 : None
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THE RAYNER FOUNDATION
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023
3. INCOMING RESOURCES
| a) Donations, Grants & Legacies Gifts & Donations b) Charitable Activities E-Tape' Ride Annual Dinner c) Investment Income Interest d) Other Incoming Resources Sundry Income |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2023 2022 £ £ £ £ 145,219 - 145,219 28,753 145,219 - 145,219 28,753 - 5,318 5,318 10,735 - 16,520 16,520 9,934 - 21,838 21,838 20,669 - - - - - - - - 400 - 400 - 400 - 400 - |
|---|---|
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THE RAYNER FOUNDATION
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023
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 ` b) Governance Costs Independent Examiners Fees 9 Legal & Professional Fees |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2023 2022 £ £ £ £ - 19,296 19,296 5,420 236 - 236 171 - 930 930 15,389 14,067 - 14,067 13,140 500 - 500 500 25 - 25 114 320 - 320 2,184 21,463 - 21,463 21,769 8,200 - 8,200 7,200 148 - 148 91 44,959 20,226 65,185 65,978 900 - 900 750 250 - 250 815 1,150 - 1,150 1,565 |
|---|---|
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THE RAYNER FOUNDATION
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023
5. RESTRICTED FUNDS
CURRENT FINANCIAL YEAR
| E-Tape' Ride Annual Dinner |
Balance Balance 01-Jan-23 Income Expenditure Transfers 31-Dec-23 £ £ £ £ £ 9,266 5,318 930 - 13,654 9,039 16,520 19,296 - 6,263 18,306 21,838 20,226 - 19,918 |
|---|---|
PREVIOUS FINANCIAL YEAR
| 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 |
|---|---|
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 2023
6. INVESTMENTS
The CIO held no fixed assets investments during this or the previous financial period.
7. CASH AT BANK AND IN HAND
| Cash at Bank & in Hand 8. DEBTORS AND PREPAYMENTS Sundry Debtors |
Unrestricted Restricted Total Total Fund Fund 31-Dec-23 31-Dec-22 £ £ £ £ 374,189 19,918 394,107 292,835 374,189 19,918 394,107 292,835 Unrestricted Restricted Total Total Fund Fund 31-Dec-23 31-Dec-22 £ £ £ £ - - - - - - - - |
|---|---|
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Independent Examiners Fees | Unrestricted Restricted Total Total Fund Fund 31-Dec-23 31-Dec-22 £ £ £ £ 900 - 900 750 900 - 900 750 |
|---|---|
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-23 31-Dec-22 £ £ £ £ - - - - 373,289 19,918 393,207 292,085 - - - - 373,289 19,918 393,207 292,085 |
|---|---|
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THE RAYNER FOUNDATION
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023
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
(Charitable Incorporated Organisation)
INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS
Report to the trustees/ members of The Rayner Foundation on the accounts for the year ended 31st December 2023 set out on pages 5 to 13.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s 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,
-
follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
-
state whether particular matters have come to my attention
Basis of independent examiner’s statement
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 charity 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 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 Act
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.
K. Collaku MAAT Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
Date: 11th July 2024
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