# **ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024** ## **THE RAYNER FOUNDATION** (Charitable Incorporated Organisation) **CHARITY REGISTRATION No: 1185306** Castle View Accounting Ltd Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ 1 ## **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| 2 ## **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 2024 **END OF FINANCIAL YEAR** 31st December 2024 **TRUSTEES AT 31ST DECEMBER 2024** 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 Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ 3 THE RAYNER FOUNDATION Icf*rilablE I￿￿￿￿8t*d OryanralK)nl TRUSTEES. REPORT FOR THE YEAR ÈNDED 31ST DECEMBER 2024 The oblpcts futhfr Charity in 2024 wa¥fv h￿pI￿ng r•tlYu lal The KKO￿510￿ of rfjcrealKffi￿ aftl tim¢ wo¥hY8d in it* irt8r•it wdlarv. deswn8d to Imkvov* their dllYJns of If?. Ihl Pm¥lAlw siippjrt And Aelwit* dw•Jtsp th•ir *fvJ to Or￿ to pordrdpo* I iety as rnalure aTrl Ic>Ad¥￿Ing edUc￿On. kn the ad¥￿erf￿rt 01ama￿V he* recreati￿ thrwh cythg. 2024 beBn a difficLIi ￿ fty (Wf. tyjr arwvjal kndrriHrMJ Th• E'lapo th Dlgs & ond of dSnMr have been a success bul ovqr31 k)#rnryw. Th8 m¢Thyr*Ked frcm I￿•.1￿. the ¢imer •nd don8lhx& W• hav8 8kY0v￿ Ihe 0136 no. rld•rn itsj gro￿ Eww tr 2024 8 CC4t ol wtrjnd e80,000. th* ¥￿11 cèb*>J* beIJ8p￿ cfi & EU re#thcikn Trusl••A' Rupon8lbllltloi Law and th• Generalty A¢¢8pted IGAAPI intknjry Fin•nwl Rem"ry Starthrd 102.. Th• Finjnc￿l Roprybng Slandard appIL8b￿ in IM UK ￿ Reput4c 01*￿*r¥I ILhi¢•d ¥irydrffi Genfrraly Pueptsd A¢Q￿nting PrKlic•l. Th8 Ch&rilw A¢1 2011 re•*e Ihe InAi¢ei io Fry•rv siatemorts fin•nclal yew whkh a IryK 4nd f• vlow of lh• stote ol offaiis ol cl sJef¢l ol ts CIO fry thlll p•nod. In yeporirg Ih)$8 financ￿1 4tatem8nts Iru5teu ore requred lo.. Obwvo Ihe rn*hods aThJ in th• Char#*s SORP. M•keiudgem•ntB ar￿ Estimalv re8stywW• I￿j Slaie whothor applublfr UK AcwLnlwg SlaTrJwd¥ ha4* twn fclrAKd lo Wby m•tqrlHI d•pariure8 d18cro￿ and expLiinod In the l]narti¥ ¥wwnènts.' Pr•pu• fin•nci* Ststem￿l￿n corKw it ia Inww•tO to that thè CIO knlll conbnug In exister￿. Thè trust••$ jro rOw￿ble ftr kew'ry Imt ¥*h rea￿DatIo at any tirne th• r￿¢￿1 oflhg chgrily •rKI erth 1gw¥ure that st*l6Ynqntscomth th th• ChariU•& A¢1 z011, Charty (A￿￿ts ￿ 11oshyt81 Regulakn$ 2t#J8 Ihe 01 tr* GDYernrq OocumBnL TW are also responslb for 88foguardin9 rmy •*J ￿ing I¥•￿•l* 5tepB IN thè 4•t•¢tion of other irreg¢J8ri1ies. £s Appmed Tru*ee¥cn.............................. ......................... Swed th￿r￿hlIf￿Trl￿1••................... ............................................. ......................................................... PMle(l N•mw. ## **THE RAYNER FOUNDATION** (Charitable Incorporated Organisation) ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024** |**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
Transfer of Funds
**17**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2024**
**2023**
£
£
£
£
16,963
-
16,963
145,219
-
27,386
27,386
21,838
-
-
-
-
-
-
-
400
**16,963**
**27,386**
**44,349**
**167,457**
53,389
55,559
108,948
65,185
1,620
-
1,620
1,150
**55,009**
**55,559**
**110,568**
**66,335**
**(38,046)**
**(28,173)**
**(66,219)**
**101,122**
373,289
19,918
393,207
292,085
(29,620)
29,620
-
-
**305,623**
**21,365**
**326,989**
**393,207**| |---|---| 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. 5 THE RAYNER FOUNDATION {C￿r11al* Iwwated BALANCE SHEET AS AT 31ST DECEMBER 2024 TOTAL TOTAL 3141*c*24 3l.Dq￿2S Not• FIx8dAJ•eis Tongibl¢ A￿¢t• trweslments Total FlxqdAM•ts Cyrront A81• Debtors & Prepaym0ni• Cash al Bank end in Harnj Total Curr•nt A4Mt¥ .943 306,943 21.365 21.365 328,%)9 328.309 394,107 394,107 NeTcuRRENT ASSÉT$ 5.6rJ 21265 393,207 TofALA88ETS curr•rt I￿11*9 305,623 21.305 328.9B9 393,207 Cr•diior•.' Amwnls sjw In mN• I14rt year 10 NET AS8ET8 305.623 21,305 326.989 393,Z07 Fund*of th•Ch•v6ty Qeneral Funds ))5M23 305.623 21,385 373,289 19.918 21,385 Totil Fund• 305,623 21.365 326,989 393.207 Iql *l.Is Arvoveo ty th8 Tn*leeSC￿.............. .. ....... . .. ............................................................................................. SwJn0d on their bthdltyTru*vtr....................... Pdni•d Namo.. ## **THE RAYNER FOUNDATION** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024** ## **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. 7 ## **THE RAYNER FOUNDATION** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024** ## **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 year. The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st December 2024 : None 31st December 2023 : None 8 ## **THE RAYNER FOUNDATION** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024** ## **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
**2024**
**2023**
£
£
£
£
16,963
-
16,963
145,219
**16,963**
**-**
**16,963**
**145,219**
-
16,456
16,456
5,318
-
10,930
10,930
16,520
**-**
**27,386**
**27,386**
**21,838**
-
-
-
-
**-**
**-**
**-**
**-**
-
-
-
400
**-**
**-**
**-**
**400**| |---|---| 9 ## **THE RAYNER FOUNDATION** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024** ## **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
**2024**
**2023**
£
£
£
£
-
46,814
46,814
19,296
247
-
247
236
-
8,745
8,745
930
12,985
-
12,985
14,067
2,500
-
2,500
500
40
-
40
25
2,983
-
2,983
320
23,776
-
23,776
21,463
8,400
-
8,400
8,200
2,459
-
2,459
148
**53,389**
**55,559**
**108,948**
**65,185**
960
-
960
900
660
-
660
250
**1,620**
**-**
**1,620**
**1,150**| |---|---| 10 ## **THE RAYNER FOUNDATION** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024** ## **5. RESTRICTED FUNDS** ## **CURRENT FINANCIAL YEAR** |Annual Dinner
E-Tape' Ride|**Balance**
**Balance**
**01-Jan-24**
Income
Expenditure
Transfers
**31-Dec-24**
£
£
£
£
£
6,263
10,930
46,814
29,620
-
13,654
16,456
8,745
-
21,365
**19,918**
**27,386**
**55,559**
**29,620**
**21,365**| |---|---| ## **PREVIOUS FINANCIAL YEAR** |Annual Dinner
E-Tape' Ride|**Balance**
**Balance**
**01-Jan-23**
Income
Expenditure
Transfers
**31-Dec-23**
£
£
£
£
£
9,039
16,520
19,296
-
6,263
9,266
5,318
930
-
13,654
**18,305**
**21,839**
**20,226**
**-**
**19,918**| |---|---| Restricted funds are wholly represented by the charity's cash reserves and are to be expended as specified above. 11 ## **THE RAYNER FOUNDATION** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024** ## **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-24**
**31-Dec-23**
£
£
**£**
**£**
306,943
21,365
328,309
394,107
**306,943**
**21,365**
**328,309**
**394,107**
Unrestricted
Restricted
**TOTAL**
**TOTAL**
Fund
Fund
**31-Dec-24**
**31-Dec-23**
£
£
**£**
**£**
-
-
-
-
**-**
**-**
**-**
**-**| |---|---| ## **9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Sundry Creditors
Independent Examiners Fees|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Fund
Fund
**31-Dec-24**
**31-Dec-23**
£
£
**£**
**£**
360
-
360
-
960
-
960
900
**1,320**
**-**
**1,320**
**900**| |---|---| ## **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-24**
**31-Dec-23**
£
£
£
£
-
-
-
-
305,623
21,365
326,989
393,207
-
-
-
-
**305,623**
**21,365**
**326,989**
**393,207**| |---|---| 12 ## **THE RAYNER FOUNDATION** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024** ## **12. STAFF COSTS AND NUMBERS** The Charity employed no members of staff during this or the previous financial year. ## **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. 13 ## **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 2024 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: 1. 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 2. 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 Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ Date: 1st September 2025 14