REGISTERED NO: 1190882
BOURNEMOUTH NORTH ROTARY BENEVOLENT FUND CIO
FINANCIAL ACCOUNTS FOR THE YEAR ENDED 30TH JUNE 2022
BOURNEMOUTH NORTH ROTARY BENEVOLENT FUND CIO
TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 30[TH] JUNE 2022
Address
The correspondence address of the charity is 5 Denecote Lodge. 6 Westminster Road, Poole, BH13 6JL
Trustees
The current trustees with their current roles and their dates of appointment are:
| Peter Avis | President | 23/6/20 |
|---|---|---|
| Michael Edwards | Vice-president | 23/6/20 |
| Roger Deas | Secretary | 18/8/21 |
| Perry Ellis | Treasurer | 23/6/20 |
| John Slade | Past President | 30/6/20 |
| Bronwyn Lister-Smith | 5/7/22 | |
| Stephen Maidment | 5/7/22 | |
| Matthew Moore | 5/7/22 | |
| Stanley Webb | 5/7/22 |
No trustee has ceased being a trustee since registration.
All members of the CIO are also members of the Rotary Club of Bournemouth North. As members of the CIO they have the power under the Trust Deed to nominate by resolution persons within their own number to be appointed trustees of the CIO.
Governance
The CIO is governed by a Constitution adopted by its members on23rd June 2020 and registered with the Charity Commission on 17[th] August 2020 with the number 1190882. Its principal objective is to apply both the capital and income of the fund to or for the benefit of the poor and needy or for such other charitable purpose, as the Trustees shall from time to time determine.
Advisors
The stockbroker to the CIO is:
Charles Stanley and Co. Ltd. 25 Luke Street London EC2A 4AR
The banker to the CIO is:
CAF Bank 25 Kings Hill Avenue West Mailing ME19 4JQ
BOURNEMOUTH NORTH ROTARY BENEVOLENT FUND CIO
TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2022
Activities and Achievements During the Year
The CIO has taken over the role and assets of The Rotary Club of Bournemouth North Benevolent Fund (registration number 264151). In addition the CIO has raised further funds.
Donations have been made to various local and international charities. These are from funds that are generally unrestricted apart from a collection specifically for Macmillan Caring Locally and donations made from investments, acquired following the Marjorie Gordon Bequest. The latter are restricted to the eradication of poliomyelitis or other such disease, the relief of poverty in Africa and the education of children in Africa.
Decision Making
Members of the CIO work within a committee structure and will consider any application for a charitable grant within the CIO’s objectives which are widely drawn. Once any application is researched a recommendation is made to the Trustees who then make grants and donations by majority decision, although they always aim for unanimous agreement.
Investment Policy
The Trustees seek a cautious and safe investment approach for the Marjorie Gordon Bequest. The portfolio is managed on a day to day basis by Charles Stanley, stockbrokers. The Trustees review performance with Charles Stanley at regular intervals.
Reserves
The Trustees have developed plans to allow them to continue to make donations in the medium to long term in line with the restrictions set out in the Marjorie Gordon Bequest.
Major Risks
There are no risks to the continuation of the Trust.
The Trustees have approved this report on 24[th] April 2023
R Deas, Secretary
BOURNEMOUTH NORTH ROTARY BENEVOLENT FUND CIO
STATEMENT OF ASSETS AND LIABILITIES AS AT 30TH JUNE 2022
| Fixed Assets Shares at market value Current Assets Debtors Charles Stanley cash account CAF bank account Adjustment Current Liabilities Creditors Total Current Assets Net Assets Funds of the Charity |
2022 £ Unrestricted 0 4,395 2,698 -500 6,593 -591 6,002 6,002 6,002 |
2022 £ Restricted 270,408 17,316 500 17,816 17,816 288,224 288,224 |
2022 £ Total 270,408 4,395 17,316 2,698 24,409 -591 23,818 294,226 294,226 |
2021 £ Total 0 |
|---|---|---|---|---|
| 1000 | ||||
| 1,000 -1000 |
||||
| 0 | ||||
| 0 | ||||
| 0 |
BOURNEMOUTH NORTH ROTARY BENEVOLENT FUND CIO
STATEMENT OF INCOME AND EXPENDITURE FOR YEAR TO 30TH JUNE 2022
| 2021/22 Unrestricted £ Donations Received Rotary partners 1,400 Members' donations 2,730 50/50 draw 935 Tax refund outstanding 1,600 6,665 Gross Proceeds from Activities Generating Funds Slade tea party 442 Macmillan collection Kurling 619 Auction 218 Christmas supermarket collections 1,178 Santa Express 1,081 Easter supermarket collection 528 4,066 Dividends Received Total Income 10,731 Cost of Generating Funds Stockbroker fees Bank charges -111 Kurling -152 Supermarket collections -51 Santa Express -50 -364 Charitable Donations Donations (see notes 2 & 3) -10,204 Total Expenditure -10,568 Decrease in the Value of Investments Increase in Funds during the Year 163 Funds Transfer 5,839 Movement in Funds 6,002 |
2021/22 Restricted £ 0 1,068 |
2021/22 Total £ 1,400 2,730 935 1,600 |
|---|---|---|
| 6,665 | ||
| 442 1,068 619 218 1,177 1,080 528 |
||
| 1,068 7,982 9,050 -6,109 -6,109 -13,537 -19,646 -10,559 -21,155 309,379 288,224 |
5,134 | |
| 7,982 | ||
| 19,781 | ||
| -6,109 -152 -51 -50 |
||
| -6,473 -23,741 |
||
| -30,214 | ||
| -10,559 | ||
| -20,992 315,218 |
||
| 294,226 |
BOURNEMOUTH NORTH ROTARY BENEVOLENT FUND CIO
NOTES TO THE ACCOUNTS FOR THE YEAR TO 30TH JUNE 2022
1. Accounting Policies
These accounts have been prepared on an accruals basis.
2. Unrestricted Donations
| 2. Unrestricted Donations Cherrytree Kinson Food Bank Carers' Panto Blood Bikes Hope for Hashti Womens Refuge Homestart Salvation Army Pokesdown School Cedar Prime Blind Society Ukraine Winton carers' café Gateway My Time Young Carers Winton Shedders Wessex Heart Beat Fernheath Play Youth Speaks Total Non Restricted Donations 3. Restricted Donations Macmillan Burkina Faso Wellboring Boo Charity Global Sight Solutions Total Restricted Donations |
£ -1279 -1400 -516 -50 -250 -225 -423 -393 -1131 -250 -100 -1410 -70 -315 -500 -250 -500 -1112 -30 -1068 -3,469 -1,000 -5,000 -3,000 |
|
|---|---|---|
| -10,204 | ||
| -13,537 |
4. Funds Transfer
At the beginning of the financial year the fund took over the charitable activities of charity fund with registerd number 264151. This included the transfer of all shares held by that fund and most of its cash. A final transfer of cash will take once all debtors and liabilities are settled. That fund will then be closed down.