Company registration number: CE022070 Charity registration number: 1189795
Knaresborough Rotary Club Waugh Trust
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 30 June 2021
Brays Riverview Court Castle Gate Wetherby West Yorkshire LS22 6LE
KNARESBOROUGH ROTARY CLUB WAUGH TRUST
CONTENTS
| Reference and Administrative Details | 1 |
|---|---|
| Strategic Report | 2 |
| Trustees' Report | 3 to 4 |
| Statement of Trustees' Responsibilities | 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 to 18 |
KNARESBOROUGH ROTARY CLUB WAUGH TRUST
REFERENCE AND ADMINISTRATIVE DETAILS
| Charity Registration Number | 1189795 |
|---|---|
| Company Registration Number | CE022070 |
| The charity is incorporated in England and Wales. | |
| Registered Office | Wharfedale |
| Arkendale Road | |
| Staveley | |
| Knaresborough | |
| HG5 9JX | |
| Independent Examiner | Brays |
| Riverview Court | |
| Castle Gate | |
| Wetherby | |
| West Yorkshire | |
| LS22 6LE | |
| Solicitors: | Wrigleys Solicitors LLP |
| 19 Cookridge Street | |
| Leeds | |
| LS2 3AG |
Page 1
KNARESBOROUGH ROTARY CLUB WAUGH TRUST
STRATEGIC REPORT FOR THE YEAR ENDED 30 JUNE 2021
The trustees, who are directors for the purposes of company law, present their strategic report for the year ended 30 June 2021, in compliance with s414C of the Companies Act 2006.
23 May 2022 The strategic report was approved by the trustees of the charity on .................... and signed on its behalf by:
~~.........................................~~ Hazel Haas (May 25, 2022, 1:56pm) Hazel Joyce Haas
Trustee
Page 2
KNARESBOROUGH ROTARY CLUB WAUGH TRUST
TRUSTEES' REPORT
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 30 June 2021.
Objectives and activities
Objects and aims
The Trustees are empowered to apply both income and capital of the fund for the relief of the poor and needy or such other charitable purpose as the company members shall direct.
Objectives, strategies and activities
The Rotary Club was advised of a legacy from a former Knaresborough resident, who was not personally known to any member of the Club, Mr Alan Waugh. This legacy comprised a domestic property, investments and bank and cash accounts together with a small amount of personal effects. The bequest was accompanied by an Expression of Wishes, which, because it would have restricted the activities relating to the bequest monies, caused the Club to set up a new Charitable CIO. As at the date of these accounts, the estate has been fully distributed by the administering executors Berwin & Co, and these accounts reflect the bequest, received over an eighteen month period. The executors oversaw the sale of the property, various bequests and the distribution of personal effects to family members.
The Expression of Wishes expresses Mr Waugh’s preferences for the use of legacy monies, especially in the fields of improving and regenerating the town area, restoring public buildings and education. He preferred it not to be used for conservation/environment purposes (although this may conflict with the first two expressions and the trustees will use their discretion in any grant applications in this regard), sports funding or health.
Public benefit
The trustees have distributed income from the trust to further public benefit, as detailed in the Notes to the Financial Statements. They follow the Expression of Wishes compiled by Mr Waugh, and the specific aims to benefit the citizens and organisations of the town of Knaresborough and district. During the pandemic and the disruption to normal education during this period, the Trustees have particularly supported the provision of computer equipment to local schools to ensure that all pupils have the best access to online education methods.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows:
Trustees: Hazel Joyce Haas Ian Ibbotson Helen Westmancoat Michael Wakefield Dixon Tracey Laverick (appointed 1 July 2021)
Page 3
KNARESBOROUGH ROTARY CLUB WAUGH TRUST
TRUSTEES' REPORT
Structure, governance and management Financial instruments
Objectives and policies
The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.
Cash flow risk
The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures.
Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.
Credit risk
The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.
The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
Liquidity risk
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.
23 May 2022
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
~~.........................................~~ Hazel Haas (May 25, 2022, 1:56pm) Hazel Joyce Haas Trustee
Page 4
KNARESBOROUGH ROTARY CLUB WAUGH TRUST
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Knaresborough Rotary Club Waugh Trust for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
23 May 2022
Approved by the trustees of the charity on .................... and signed on its behalf by:
~~.........................................~~ Hazel Haas (May 25, 2022, 1:56pm) Hazel Joyce Haas Trustee
Page 5
KNARESBOROUGH ROTARY CLUB WAUGH TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KNARESBOROUGH ROTARY CLUB WAUGH TRUST ("THE COMPANY")
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2021.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of Knaresborough Rotary Club Waugh Trust are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of Knaresborough Rotary Club Waugh Trust as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... Brays. Jamie Dowse-Holmes Jamie Dowse-Holmes (May 25, 2022, 2:02pm) Institute of Chartered Accountants in England and Wales
Riverview Court Castle Gate Wetherby West Yorkshire LS22 6LE
25 May 2022 Date:.............................
Page 6
KNARESBOROUGH ROTARY CLUB WAUGH TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2021 (INCLUDING INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES)
| Note Income and Endowments from: Donations and legacies 3 Investment income 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 12 Note Income and Endowments from: Donations and legacies 3 Total income Expenditure on: Charitable activities 5 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds carried forward 12 |
Unrestricted funds £ 531,179 127,504 658,683 (24,941) (24,941) 633,742 633,742 743,552 1,377,294 Unrestricted funds £ 750,000 750,000 (6,448) (6,448) 743,552 743,552 743,552 |
Total 2021 £ 531,179 127,504 |
|---|---|---|
| 658,683 | ||
| (24,941) | ||
| (24,941) | ||
| 633,742 | ||
| 633,742 743,552 |
||
| 1,377,294 | ||
| Total 2020 £ 750,000 |
||
| 750,000 | ||
| (6,448) | ||
| (6,448) | ||
| 743,552 | ||
| 743,552 | ||
| 743,552 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2020 is shown in note 12.
The notes on pages 9 to 18 form an integral part of these financial statements.
Page 7
KNARESBOROUGH ROTARY CLUB WAUGH TRUST
(REGISTRATION NUMBER: CE022070) BALANCE SHEET AS AT 30 JUNE 2021
| Note Fixed assets Investments 9 Current assets Cash at bank and in hand 10 Creditors: Amounts falling due within one year 11 Net current assets Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 12 |
2021 £ 1,320,495 57,554 (755) 56,799 1,377,294 1,377,294 1,377,294 |
2020 £ 700,000 44,272 (720) |
|---|---|---|
| 43,552 | ||
| 743,552 | ||
| 743,552 | ||
| 743,552 |
For the financial year ending 30 June 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
23 May 2022
The financial statements on pages 7 to 18 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
......................................... Hazel Haas (May 25, 2022, 1:56pm) Hazel Joyce Haas Trustee
The notes on pages 9 to 18 form an integral part of these financial statements.
Page 8
KNARESBOROUGH ROTARY CLUB WAUGH TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
1 Charity status
The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £Nil towards the assets of the charity in the event of liquidation.
The address of its registered office is:
Wharfedale Arkendale Road Staveley Knaresborough HG5 9JX
Authorised for issue date ~~23 May 2022~~
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
Knaresborough Rotary Club Waugh Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Page 9
KNARESBOROUGH ROTARY CLUB WAUGH TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Legacy gifts are recognised on a case by case basis following the grant of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Page 10
KNARESBOROUGH ROTARY CLUB WAUGH TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
Fixed asset investments
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Foreign exchange
Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.
The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overseas operations are reported in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriate).
Other exchange differences are recognised in the Statement of Financial Activities in the period in which they arise except for:
1) exchange differences on transactions entered into to hedge certain foreign currency risks (see above);
2) exchange differences arising on gains or losses on non-monetary items which are recognised in other comprehensive income; and
3) in the case of the consolidated financial statements, exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned nor likely to occur (therefore forming part of the net investment in the foreign operation), which are recognised in other comprehensive income and reported under equity.
Page 11
KNARESBOROUGH ROTARY CLUB WAUGH TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Page 12
KNARESBOROUGH ROTARY CLUB WAUGH TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
Debt instruments
Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:
(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.
(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.
(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).
(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.
(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.
(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).
Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.
With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.
Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.
Page 13
KNARESBOROUGH ROTARY CLUB WAUGH TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
Derivative financial instruments
The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
3 Income from donations and legacies
| Donations and legacies; Legacies Donations and legacies; Legacies |
Unrestricted funds General £ 528,261 528,261 Unrestricted funds General £ 750,000 750,000 |
Total 2021 £ 528,261 |
|---|---|---|
| 528,261 | ||
| Total 2020 £ 750,000 |
||
| 750,000 |
Page 14
KNARESBOROUGH ROTARY CLUB WAUGH TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
4 Investment income
| Interest receivable and similar income; Interest receivable on bank deposits Other investment income |
Unrestricted funds General £ 6 127,498 127,504 |
Total 2021 £ 6 127,498 |
|---|---|---|
| 127,504 | ||
| Total 2020 £ - |
5 Expenditure on charitable activities
| Knaresborough Connectors - Words in Windows Knaresborough Connectors - Arts Projects Appleby Play Area Knaresborough - BID Provision of computer equipment - King James' School Provision of computer equipment - Boroughbridge High School Provision of computer equipment - Nidderdale, Wensleydale & Harrogate schools Provision of computer equipment - Goldborough School Carers Resource - COVID project materials Total for period ended 30 June 2021 |
Unrestricted funds General £ 565 350 500 10,000 2,702 2,702 3,880 965 300 21,964 |
Total funds £ 565 350 500 10,000 2,702 2,702 3,880 965 300 |
|---|---|---|
| 21,964 |
Total expenditure £
In addition to the expenditure analysed above, there are also governance costs of £2,976 (2020 - £6,448) which relate directly to charitable activities. See note 6 for further details.
Page 15
KNARESBOROUGH ROTARY CLUB WAUGH TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
6 Analysis of governance and support costs
Governance costs
| Allocated support costs Total for period ended 30 June 2021 Total for period ended 30 June 2020 |
Unrestricted funds General £ 2,976 2,976 6,448 |
Total funds £ 2,976 |
|---|---|---|
| 2,976 | ||
| 6,448 |
7 Trustees remuneration and expenses
During the year the charity made the following transactions with trustees:
Ian Ibbotson
£Nil (2020: £115) of expenses were reimbursed to Ian Ibbotson during the year.
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any other benefits from the charity during the year.
8 Taxation
The charity is a registered charity and is therefore exempt from taxation.
9 Fixed asset investments
| 9 Fixed asset investments |
||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Other investments | 1,320,495 | 700,000 |
Page 16
KNARESBOROUGH ROTARY CLUB WAUGH TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
Other investments
| Other investments | ||||||
|---|---|---|---|---|---|---|
| Cost or Valuation At 1 July 2020 Revaluation Additions At 30 June 2021 Net book value At 30 June 2021 At 30 June 2020 10 Cash and cash equivalents Cash at bank 11 Creditors: amounts falling due within one Accruals 12 Funds Unrestricted funds General Unrestricted funds General |
year Balance at 1 July 2020 £ 743,552 |
Incoming resources £ 658,683 Incoming resources £ 750,000 |
Unlisted investments £ 700,000 127,234 493,261 |
Total £ 700,000 127,234 493,261 1,320,495 1,320,495 700,000 2020 £ 44,272 |
||
| 1,320,495 | ||||||
| 1,320,495 | ||||||
| 700,000 | ||||||
| 2021 £ 57,554 2021 £ 755 Resources expended £ (24,941) Resources expended £ (6,448) |
||||||
| 2020 £ 720 |
||||||
| Balance at 30 June 2021 £ 1,377,294 |
||||||
| Balance at 30 June 2020 £ 743,552 |
Page 17
KNARESBOROUGH ROTARY CLUB WAUGH TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
13 Analysis of net assets between funds
| 13 Analysis of net assets between funds | ||||
|---|---|---|---|---|
| Fixed asset investments Current assets Current liabilities Total net assets Fixed asset investments Current assets Current liabilities Total net assets 14 Analysis of net funds Cash at bank and in hand Net debt Net debt |
At 1 July 2020 £ 44,272 44,272 |
Unrestricted funds General £ 1,320,495 57,554 (755) 1,377,294 Unrestricted funds General £ 700,000 44,272 (720) 743,552 Financing cash flows £ (44,272) (44,272) At 4 June 2020 £ - |
Total funds at 30 June 2021 £ 1,320,495 57,554 (755) |
|
| 1,377,294 | ||||
| Total funds at 30 June 2020 £ 700,000 44,272 (720) |
||||
| 743,552 | ||||
| At 30 June 2021 £ - - At 30 June 2020 £ - |
Page 18
KNARESBOROUGH ROTARY CLUB WAUGH TRUST
STATEMENT OF FINANCIAL ACTIVITIES BY FUND FOR THE YEAR ENDED 30 JUNE 2021
| Unrestricted Funds | |||
|---|---|---|---|
| Total | Total | ||
| Unrestricted | Unrestricted | ||
| Funds | Funds | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Income and Endowments from: | |||
| Donations and legacies | 531,179 | 750,000 | |
| Investment income | 127,504 | - | |
| Total income | 658,683 | 750,000 | |
| Expenditure on: | |||
| Charitable activities | (24,941) | (6,448) | |
| Total expenditure | (24,941) | (6,448) | |
| Net income | 633,742 | 743,552 | |
| Net movement in funds | 633,742 | 743,552 | |
| Reconciliation of funds | |||
| Total funds brought forward | 743,552 | - | |
| Total funds carried forward | 1,377,294 | 743,552 |
This page does not form part of the statutory financial statements.
Page 19
KNARESBOROUGH ROTARY CLUB WAUGH TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2021
| Income and Endowments from: Donations and legacies (analysed below) Investment income (analysed below) Total income Expenditure on: Charitable activities (analysed below) Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Total 2021 £ 531,179 127,504 658,683 (24,941) (24,941) 633,742 633,742 743,552 1,377,294 |
Total 2020 £ 750,000 - |
|---|---|---|
| 750,000 | ||
| (6,448) | ||
| (6,448) | ||
| 743,552 | ||
| 743,552 - |
||
| 743,552 |
This page does not form part of the statutory financial statements.
Page 20
KNARESBOROUGH ROTARY CLUB WAUGH TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2021
| Donations and legacies Legacies and bequests Appeals and donations Investment income Interest on cash deposits Net income and FV movement to investments Charitable activities Purchases Printing, postage and stationery Sundry expenses Independent examiner's fee Legal and professional fees |
Total 2021 £ 528,261 2,918 531,179 6 127,498 127,504 (21,965) - - (756) (2,220) (24,941) |
Total 2020 £ 750,000 - |
|---|---|---|
| 750,000 | ||
| - - |
||
| - | ||
| - (7) (108) (720) (5,613) |
||
| (6,448) |
This page does not form part of the statutory financial statements.
Page 21
Issuer
Issuer Brays Document generated Wed, 25th May 2022 10:19:08 BST Document fingerprint 175d7da0d30c445e323fde46c776e7e8
Parties involved with this document
Document processed
Party + Fingerprint
Wed, 25th May 2022 13:56:19 BST Hazel Haas - Signer (4ef642ffe473ddcea6e4b174bd161adb) Wed, 25th May 2022 14:02:54 BST Jamie Dowse-Holmes - Signer (a065101f311c6d03e68ea49f4447b3cd) Audit history log Date Action Wed, 25th May 2022 14:02:57 BST Jamie Dowse-Holmes viewed the envelope. (35.179.80.221) Wed, 25th May 2022 14:02:54 BST The envelope has been signed by all parties. (35.179.60.205) Wed, 25th May 2022 14:02:54 BST Jamie Dowse-Holmes signed the envelope. (35.179.60.205) Wed, 25th May 2022 14:02:38 BST Jamie Dowse-Holmes viewed the envelope. (35.179.60.205) Wed, 25th May 2022 13:56:21 BST Hazel Haas viewed the envelope. (35.179.80.221) Wed, 25th May 2022 13:56:19 BST Document emailed to jamie@braysaccountants.co.uk (35.176.148.91) Wed, 25th May 2022 13:56:19 BST Sent the envelope to Jamie Dowse-Holmes (jamie@braysaccountants.co.uk) for signing. (35.179.60.205) Wed, 25th May 2022 13:56:19 BST Hazel Haas signed the envelope. (35.179.60.205) Wed, 25th May 2022 13:51:57 BST Hazel Haas viewed the envelope. (18.132.124.34) Wed, 25th May 2022 10:22:18 BST Document emailed to hazelhaas@hotmail.com (18.132.63.156) Wed, 25th May 2022 10:22:18 BST Sent the envelope to Hazel Haas (hazelhaas@hotmail.com) for signing. (195.80.12.12) Wed, 25th May 2022 10:20:37 BST Jamie Dowse-Holmes has been assigned to this envelope (195.80.12.12) Wed, 25th May 2022 10:20:37 BST Hazel Haas has been assigned to this envelope (195.80.12.12) Wed, 25th May 2022 10:19:13 BST Document generated with fingerprint 175d7da0d30c445e323fde46c776e7e8 (195.80.12.12) Wed, 25th May 2022 10:19:09 BST Envelope generated by Jamie Dowse-Holmes (195.80.12.12)